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From Huge Drawdown to Big Withdrawals: a Funded Trader Shares His Secrets

Posted by TopstepFX on April 09, 2019

 


Four days into his Funded Account®, Nick S. in Texas found himself 51% to his total Account Loss Limit. That's right, his $5,000 balance fell to a closing low of $3,307 — putting him just $1,600 from losing his account. But instead of spiraling deeper and deeper and taking larger risks, Nick says that he was hit with the realization: "This is real money." 

Indeed it was, and Nick finally got back to the strategy that helped him pass the Trading Combine® and earn live trading capital in the first place. That led him on a path to $6,700 in withdrawals over the next two months. 

Here's how Nick did it. 

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Topics: Trading Combine, Forex, TopstepFX Funded Traders, Currency Pages, trading strategy, TopstepFX

Funded TopstepFX Trader Offers the Key to Getting Through Step 2 and Trading Smarter

Posted by TopstepFX on January 15, 2019

Here at Topstep, we’re incredibly proud of our funded traders. They worked hard to make it through Step 2 of our process, proved they had the chops to make it trading actual money, and spend their days carefully weighing opportunity and risk.

One such trader is Kevin M. out of Perth, Australia. He joined TopstepFX to hone his trading strategy and improve his trading discipline. In reflecting on his work to date, he mentions that Step 2 really helped him with money management.

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Topics: Trading Combine, Forex, TopstepFX Funded Traders, Currency Pages, trading strategy, TopstepFX

Hold on to Your Hats: Summer Trading is Going to be Full of Opportunities

Posted by TopstepTrader on June 07, 2018

Summer trading is usually a grind. Not this year. At least that's not what we're expecting. Between the interest in markets spurred by the surge in volatility that started in February, important trading levels (like new highs in equity futures, and grains markets hitting their peak, the Summer of '18 may present some great opportunities to profit trading. Here's how.

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Topics: Performance Coaching, Trading Combine, Coach's Playbook, Forex, Futures

How can the Trading Combine Help You Become Consistently Profitable

Posted by TopstepTrader on May 04, 2018

Why is the Trading Combine® important? And how can it help your trading?

You may know that the Trading Combine started when Michael Patak lost $90,000 in three separate trading accounts. It was only after he put rules around his trading and learned to execute a strategy in a simulated trading environment that he became successful. 

Those rules became the basics of the Trading Combine. In this week's Coach's Playbook, the coaches talk about why the Trading Combine is important to develop consistently profitable traders and how it can help your trading

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Topics: Performance Coaching, Trading Combine, Coach's Playbook, Forex, Futures

So You Succeeded in the Trading Combine. Now What?

Posted by TopstepTrader on December 07, 2017

Congratulations - you passed a Trading Combine®. Now what?

For anyone that has been in Funded Trader Preparation™, you know that now is when the real work starts. The TopstepTrader program is based on finding consistently profitable and risk-minded traders. That's why there are two steps. And why the rules in Funded Trader Preparation get a little more specific. 

So, for starters, you'll want to know the new rules - and track them every day: (1) there's a Weekly Loss Limit that matches the Daily Loss Limit on the account; (2) there's the scaling plan to start you off small and work into larger trades; and (3) you have to be flat for major economic releases that pertain to your product. 

In this week's Coach's Playbook, our coaches outline what you'll want to watch out for when you pass the Trading Combine that impact your practical trading, as well as your mental game. 

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Topics: Performance Coaching, Trading Combine, Coach's Playbook

Getting to Crunch Time: Performance Coaches' Trading Combine

Posted by TopstepTrader on November 30, 2017

The Performance Coaches traded for the first time in a few days, losing $166.18 going short the Emini S&P 500 ($ESZ7). Because their Trading Combine® is nearing the Max Drawdown, which has trailed to $48,997, the Coaches are being cautious.

This is a point where many traders in the Trading Combine might take more aggressive trades. Not only are the Coaches hoping to show good risk management, but they also know that the best way to recoup gains is to stick to a strategy and focus on base hits. One or two good trades will get them back to breakeven. 

Here's a closer look at the trade that they entered today.

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Topics: Performance Coaching, Trading Combine, Trading Basics

Trailing Max Drawdown in Play: Performance Coaches' Trading Combine

Posted by TopstepTrader on November 20, 2017

The Performance Coaches gave back $423.54 to the market today, bringing their balance to the closest its been to the Trailing Max Drawdown. That stands at $48,997 - just 305.77 away from today's closing balance. 

Here's how they plan to get back towards the positive. 

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Topics: Performance Coaching, Trading Combine, Trading Basics

-$857.84 on the Week: Performance Coaches' Trading Combine Challenge

Posted by TopstepTrader on November 18, 2017

This was the Performance Coaches' most challenging week yet in their Trading Combine®. They gave $857.84 back to the market - lowering their balance to $49,726.31. That puts them $273.69 under their initial starting balance and $729.31 away from their Trailing Max Drawdown. 

Here's their weekly video recap where they discuss what they did right, what they're struggling with and where the challenge stands. 

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Topics: Performance Coaching, Trading Combine, Trading Basics

We Assure You, Trading is Hard: Performance Coaches' Trading Combine

Posted by TopstepTrader on November 16, 2017

After taking yesterday off, the Performance Coaches bought the Emini S&P 500 ($ESZ7) early in today's trading session and rode it for a $400 winner. That brings their balance to $50,204.71. 

While we could go over that trade - which was helped by euphoria about a U.S. tax reform package - we instead want to focus today's blog on a lingering question out there. 

We've gotten a lot of feedback about the Performance Coaches' Trading Combine®. Most has been positive reinforcement thanking the Coaches for demonstrating good risk management principles and showing a disciplined approach to trading. 

Others have asked whether we regret starting the public Trading Combine given the fact that we are approaching two months in the challenge without meeting our profit target. The short answer is that no, we don't regret it.  

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Topics: Performance Coaching, Trading Combine, Trading Basics

3 Things to Do in a Losing Streak: Performance Coaches' Trading Combine

Posted by TopstepTrader on November 14, 2017

This was a rough day for the Performance Coaches. There's no sugar coating that. The Coaches' Trading Combine® is now at $49,808.39 - roughly $810 away from their Trailing Max Drawdown. After a great streak during October and the first week of November, the Coaches have given back $1,189.02 in the past four days they've traded. 

 During this stretch, the Coaches have only had one winning trade out of 14. If that's the case, you can have the best risk / reward ratio ever, but you won't make money. 

Here are three things the Coaches are doing to shake themselves out of this losing streak. The next time you find yourself in a losing streak, here's your roadmap.

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Topics: Performance Coaching, Trading Combine, Trading Basics

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