We're always happy to showcase the stories of our funded traders. Today, Johnny P. from Canada outlines his approach to trading, and explains what drives him to continue getting better day after day. He believes that you need to maintain a passion for the markets and keep practicing, even when you fall short of your goals.
Our funded traders were on fire in October, and there were a number of big withdrawals to prove it. If you follow Topstep on Instagram, you know we've been congratulating traders individually whenever they take a hefty payout (occasionally we do it from a petting zoo). This month, more than a dozen traders earned a coveted "Trader Shout-out" from the Topstep Team. We're super excited to see who gets honored next by our terrible acting.
You can see the entirety of the Instagram congratulations-compilation below. Hoag makes an appearance, and Topstep founder Michael Patak may or may not get mauled by a domesticated animal.
Certain aspects of trading are universal. Sure, you need to know the quirks of any product you trade inside-and-out. But the core elements remain the same whether you're trading equities or interest rates, soybeans or baseball cards. It's all about the interaction between supply and demand, and the resulting discovery of price. An individual's skill in reading the price action is what separates the trader from the gambler.
Funded trader Simar from Canada earned his account in our forex evaluation, but futures traders, listen closely, because his journey probably mirrors your own. He admits to starting out as a gambler in the markets before finding success through a combination of hard work, sound strategy, and discipline.
You could imagine in 7+ years funding traders that Topstep has had some great trades. But we never had a single $9,000 trade—that is until Chris H. from Japan went long GBP/JPY on September 9. Ultimately, that trade netted him $9,120 in profits and put him well on his way to $5,900 in withdrawals for September.
While that story is good enough for us to blog about it, what really makes Chris' story great is the resiliency with which he's traded with TopstepFX. His $5,900 withdrawal wasn't his first time in a Funded Account®; in fact, it wasn't even his first withdrawal from a Funded Account. And we have a feeling it won't be his last. Keep reading for how Chris identified this opportunity and how he found the patience to see it through.
At Topstep, we've funded more than 3,000 traders over the past 7 years. That's a whole lot of live capital we've given to a whole bunch of amazing people.
It's also more than 3,000 stories. Not to get all sentimental, but one of the best parts of this job is getting to sit down with our traders and learn what they're thinking.
Here are some of the most insightful things they have told us:
This week, we caught up with newly-funded TopstepFX trader Shavar H. to talk about his trading journey, how he develops strategies, and why he decided to trade forex in the first place. He reminds us that trading is about more than just money, it's about learning and acquiring a skill that can open all sorts of opportunities down the road.
The British Pound took off last Thursday after French President Emmanuel Macron said that the terms of Britain's proposed exit from the European Union could be amended. This was great news for the ailing British currency, and also for two of our funded forex traders, Johnny P. from Canada and Gnasso T. from Italy, who each racked up more than $4,000 that day riding the Pound higher.
Does losing money sting at first? Of course it does. But for aspiring traders, it’s necessary to become successful. That’s the lesson that San Diego-based trader Rod R. learned after joining TopstepFX.
James G. from Aiken, South Carolina started trading with TopstepFX in September of 2018. Since then, he's earned funding with live capital and taken his trading to the next level by tightening his risk parameters, sticking to the best setups, and setting manageable profit targets for each month instead of moonshot year-end goals.
Read more below or check out the video above to get more tips from James and to learn about his experience with the TopstepFX Trading Combine®.
To say that last week was a busy session for forex would certainly be an understatement. The "will they, won't they" saga of Brexit continues to go nowhere—and consequently, the Pound Sterling has been getting absolutely hammered since the beginning of May. Oh, and did we mention that British Prime Minister Theresa May announced her impending resignation on Friday?
Currency markets are extremely volatile right now, which means there are some great entry points for traders who know how to manage their risk. With this in mind, we'd like to give a quick shout out to three of our Funded Traders who stayed smart and made some great trades last week off the Brexit madness.