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Bittersweet New Highs

Posted by John Doherty on January 16, 2020

The Failed Top Trade

Earlier this week I posted a blog article laying out guidelines and best practices for picking tops. As it turns out, this has been a textbook week to put them into practice…

Failed top trades have been a great scalp the last few days. The failed top trade consists of putting an offer in 2 ticks above the high with a 6 tick stop and a 12 tick profit target (for the e-mini S&P 500 futures).

This is the type of trade that should never be turned into a loser once it turns into a small winner. If it goes your way even a little, you should be prepared to scratch before it goes against you.

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Topics: Market Updates, Trader Behavior, Trading Lessons, Trading Psychology, Futures, Equities, E-Mini S&P, Trading Education, Market Forecast

Are You Trying To Pick Tops?

Posted by John Doherty on January 13, 2020

I went out on a limb during Monday morning’s Market Forecast video by saying that the January Break started with the poor jobs report Friday. It was my first contribution to the daily video, and since it wasn’t a very good call, hopefully it won’t be my last. In hindsight, coming out swinging on my first day telling people to short the S&P probably wasn’t the best way to kick things off.

On a quiet news day, a thin-to-win type of trading environment took over, and before the noon hour struck (Central Time) my early call for a pullback was turned to dust. Even though the S&P 500 futures didn't print a new high until near the close, I don’t feel vindicated in the least bit. I know I’m toast on this one. The old adage that says you should “never short a quiet market” rings as true today as the first day it was written.

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Topics: Market Updates, Trader Behavior, Trading Lessons, Trading Psychology, Futures, Equities, E-Mini S&P, Trading Education, Stocks, video, Market Forecast

Going Deep on Adam Grimes’ Approach

Posted by Pat Crawley on January 07, 2020

Adam Grimes is one of the best-known figures in trading media. He’s the author of The Art and Science of Technical Analysis and created a free trading course called The Art and Science of Trading. Adam is primarily a trader of the major futures contracts but will take a trade in any market that presents an opportunity.

Adam's first foray into trading was through a guru who taught his students to apply Martingale betting systems to agricultural futures. Armed with the guru's system and his knowledge of agriculture owed to growing up on a farm, Adam thought he had struck it rich. Until he blew up his account. According to Grimes:

“No matter where somebody were to start, you can’t start worse than I did.” 

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Topics: Trading Psychology, Futures, Linda Bradford Raschke, Trading Education, Adam Grimes

Daytradingz.com Founder Shares 5 Reasons the Trading Combine is Worth It

Posted by Alexander V. from Daytradingz.com on August 07, 2019

Have you decided to begin your journey toward becoming a profitable trader? You want to trade futures but are still looking for the best way to get started? Excellent!

Now you may be asking: should I just go open a brokerage account myself or should I join something like the TopstepTrader Trading Combine to become a funded trader? If you’re still undecided about which way to go, then this little guide might help you to make a more informed choice.

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Topics: Trading Basics, Futures, Trading Education

Understanding Margin: the Rocket Fuel of Futures

Posted by TopstepTrader on August 07, 2019

The concept of margin is sometimes confusing for new futures traders because it is very different than the margin used for buying stocks, exchange-traded funds, or bonds. In the world of stock trading, margin is a down payment, often up to 50% of the value of the purchase, to take ownership of the shares. In futures trading, on the other hand, margin is a good faith deposit and not a down payment. Let's see how it works.

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Topics: Trading Basics, Futures, Trading Education, Margin

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