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Turning $90K in Trading Losses into an Opportunity

Posted by TopstepTrader on March 09, 2018

Michael Patak is the founder and chief visionary officer of TopstepTrader. He started trading and promptly blew up three $30,000 trading accounts (for a total of $90,000). 

Not deterred, Michael realized that he was trying to hit home runs — allowing the promise of trading riches to lure him into huge losses. (Of course, trading with a gambler's mentality never works out.) 

In this episode of Limit Up, Michael talks through those early losses, the challenge from his father that turned his trading around and why the pain of those losses led him to found TopstepTrader. Be sure to subscribe to Limit Up on iTunes, Google tPlay or Soundcloud to get the fresh episodes each week delivered to your inbox. 

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Topics: Trading Basics, Limit Up!, Forex, Futures, Michael Patak

What These Traders Wish They Knew Before They Lost Huge

Posted by TopstepTrader on February 16, 2018

Great traders and not-so-great traders likely have one thing in common: they’ve all lost a lot of money trading. Trading is a tough business. And between finding a strategy and keeping our mental game strong, there are plenty of opportunities to falter.

Most traders that become successful can tell you horror stories of how much money they blew through when they first started. But within those stories, you can often find some wisdom to help you succeed. Here’s what three traders wish someone had told them before they lost big.

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Topics: Trading Basics, Forex, Futures, Anthony Crudele, Kenneth Reid, Michael Patak

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