A few weeks back, former funded trader Yose from the Dominican Republic stopped by Topstep HQ in Chicago to appear on our Weekly Preview show. He was also kind enough to stick around and explain a few of his thoughts on trading psychology and how to keep the right trading mindset. Hope you enjoy!
In this Topstep Moment of the Week, Anthony Crudele and Dan Hodgman discuss trading around Holidays and how these events can serve as inflection points for the markets. With Labor Day in the books, we are now entering the most volatile part of the the trading calendar, and a giant shift in sentiment is most certainly not out of the question.
In this Topstep Moment of the Week, Anthony Crudele and Dan Hodgman take a look at a big-money Oil trade from Topstep funded trader Vladimir M. over in Dubai. In these volatile markets, Dan explains why it pays to to define your exit strategy, and let your winners run until market conditions dictate otherwise.
Funded trader Adam V. has been with Topstep for almost 3 years now, and we were lucky enough to have him stop by our Chicago studios Monday to talk about Gold and his journey through the Trading Combine. In this edition of The Weekly Preview, Adam and Dan have a great conversation about the upcoming Fed rate decision, looming market volatility, and why working with a trading coach is so important. We hope you enjoy!
Some of you may know Yose. He's one of our favorite success stories here at Topstep. Since getting funded, he has become a formidable futures trader, quit his day job, and secured major outside capital to back his personal account. We're thrilled to have been part of his journey, and lucky to have had him in the Topstep Studio this week, all the way from the Dominican Republic. Traders of all levels can learn a lot from his insights, so we certainly hope you check out this very special episode of the Topstep Weekly Preview. Enjoy!
Philipp B. from Austria has been trading with Topstep for nearly three years. Most traders specialize in one or two products, but not Philipp—he's traded everything from Equities and Gold, to Euro FX and Crude Oil. This isn't an approach we would recommend for everyone, but it certainly seems to work for Philipp, who made a big withdrawal in June, and continues to consistently build his account each month.
How does Philipp find success across so many products? We examined some of his daily trading reports to find out.
Charles B. from Couer D'Alene, Idaho has traded in a futures Funded Account® for three years. Charles came to Topstep because it offered an easy entry point into the futures trading business — particularly for someone far from a finance hotbed.
Charles credits his long-term consistency on finding a love for the trading process, not the outcome, and says Topstep has helped him develop become precise in his trades. "You have your analysis that you're applying, but you only want to be getting involved when you have the most bang for your buck. Topstep really helped me figure out in my own process where that actually happened," Charles said.
Read more or check out the video above for Charles' advice to traders in the Trading Combine®.
When it comes to physical fitness, some of us make it to the gym every week and strive to eat healthy meals. For others, however, learning how to reach one’s goals requires a lot of time, training and a workout buddy to stay on track. The same can be said for aspiring traders.
Yose D. from Dominican Republic just earned his second TopstepTrader Funded Account®. His first one, started back in December 2018, was a learning experience where he ultimately lost $1,900 and hit his Trailing Maximum Drawdown.
But instead of being discouraged, Yose kept at it, adjusted his plan and honed in on his risk management. And even though it cost us the first time, we couldn't be more thrilled to give him more of our capital to trade. This time, he'll be in a $150K account with a little more cushion. We recently caught up with Yose to talk more about his experience earning a TopstepTrader Funded Account and what advice he'd have for other traders in their process.
Before learning how to trade with TopstepTrader, Gabriel, who’s based in Spain, was an entrepreneur who ran multiple businesses. He heard an ad detailing how trading newbies could learn the business and decided to give it a try.
2019 has seen a couple new funded traders get off to red-hot starts. We talked a couple weeks ago about how Gabriel F. in Spain added $26,000 in profits in 33 trading days.
But it's not just Gabriel that has been able to add big profits to his trading account recently. Bill M. in Illinois gained nearly $27,000 in profits in his Funded Account® over 46 trading days. And their two trading styles could not be less alike, proving that you can make money in a multitude of different ways.
Whereas Gabriel sticks with Crude Oil and equity futures, Bill trades anything and everything. He's held positions in currencies (Australian Dollar, British Pound), metals (Copper, Gold), energies (Crude Oil, Natural Gas), agriculture products (Live Cattle), financials (Ultra Bond) and equities (Dow, Nasdaq, S&P 500, Nikkei).
Also different: their reward-to-risk ratios. Gabriel had a perfect 2:1 reward-to-risk ratio; Bill's average winning trade is actually less than his average losing trade (+$471.82 vs -$571.65). To stay profitable, Bill has nearly 70% winning trades and 57% winning days. And, critically, he never loses too much on any one day — his largest winning day is $4,776 vs. a largest losing day of $1,550.
Here's a closer look at Bill's equity curve, which is a beautiful lower left to upper right pattern.