As we progress along our trading journeys, it’s important to never stop growing and improving. Sometimes, the best way to do that is to take the time to learn from one of the greats. As part of an ongoing series on notable traders, we’re taking time to talk about one of the most recognized names in the space: Paul Tudor Jones.

Each year, the CME Group hosts a trading challenge for college and university students worldwide. More than 500 teams compete worldwide to see who can trade the CME’s futures products the best. Our latest TopstepFX funded trader, Kelvin C. of Malaysia who is studying to get his MBA, was on the team that finished third in the 2018 Trading Challenge.

He also took eighth place in the Saxo Trade Challenge, where he put his forex trading skills to the test in a competition organized by Saxo Bank.

But while that success can help you build confidence, Kelvin says that it did not come easy — and it has not stopped him from weathering setbacks in his trading. Here’s what he learned on his journey to becoming a TopstepFX funded trader with $300,000 in live forex buying power.

To trade well, you have to be focused on learning. Every experienced trader will tell you that — whether they are going through the Trading Combine, have earned a Funded Account®, or are one of the greatest traders of our era.

So, it wasn’t completely surprising that Daniel H. in Arizona, a TopstepFX funded forex trader, stressed how learning played such a critical role in his development. “You’re going to go through learning pains,” Daniel says. "But I have made progress because I focused on learning and overcoming my weaknesses." 

Daniel, who has traded for four years, is now trading in a Funded Account with $500,000 in forex buying power. Here’s where Daniel has focused his learning.

What do you see when you look at a price chart? Tim P. in the United Kingdom, TopstepFX’s latest funded trader, says that he sees human emotions. At first, he wondered at the ticker symbols as the crossed his television screen. But as he learned more, he was drawn to the psychology of trading.

“The financial side doesn’t really interest me as much as the prospecting,” says Tim. “You can track human emotions on a chart.”

So what does this student of human nature have to say about trading? Here are a few of his insights after almost 11 years as a trader.

You asked. We listened. Over the past eight years at TopstepTrader, so many traders have asked us to take the risk out of trading forex like we've done for futures. 

And for good reason. Studies out of a French regulator show that retail forex traders lost on average €10,900 between 2009 and 2012. That's more than $12,000. Or ¥1.4 million. 

So over the past eight months, we've been quietly testing our Forex Trading Combine®, securing user feedback and funding traders. Traders like Nikhil in Illinois, who made more than $4,000 in forex profits trading with TopstepFX. And Fez in England who withdrew more than £2,000 — and in the process became the first trader funded by both TopstepTrader and TopstepFX. (BTW, his futures trading is going well ... he made $1,147 in profits on Monday!)

Here are highlights of the Forex Trading Combine, but check it out for yourself. 

Imagine that you could have an 18-year winning streak. What would that look like? How would you do it? If you are like Victor Sperandeo, you would focus on avoiding losses rather than making huge gains.

Sperandeo is one of those traders that got their starts playing poker (similar to Blair Hull). Sperandeo knew the odds of each hand and he would fold if he felt the odds were not in his favor and press if he felt they were.

Sperandeo found the way to wealth is “to preserve capital and wait patiently for the right opportunity to make extraordinary gains.” He does this by examining a trade to know what loss he could sustain, being consistent in balancing risk relative to profits, and seeking out superior returns after he has had periods of high profitability.

What do futures traders Larry Benedict, Linda Bradford Raschke, and Marty Schwartz have in common? Each of them suffered losses that would have sent most traders packing, but ended up being some of the most successful traders in recent memory.

When it comes to the markets, it seems the road to success with paved with big mistakes — especially at the start. Here are a few of our guesses as to why.

It's safe to say that Fez M. from Northampton, England's trading is going really well right now. He just became the first trader funded by TopstepFX in forex and TopstepTrader in futures after passing the TopstepTrader Trading Combine® yesterday. Plus, in a month of trading  a live TopstepFX Funded Account®, Fez has racked up profits, even making $2,700 in withdrawals. 

We recently sat down with Fez, a former techno DJ, to talk about his journey trading, what got him into markets and what advice he would have for others. Here’s what he said.

Nikhil O. in Illinois, U.S.A. got off to a troubled start in his TopstepFX Funded Account®.

In his first three days trading, he lost more than 70% of his overall cushion — losing $930 of his overall $1,300 account loss limit for the $200K Trading Combine®.

But he turned that around, and five days later, his overall P&L was $325. In another week, he built a nice base of profits that led to more than $4,100 in withdrawals.

So what’s his secret? No secret — just a lot of hard work, lessons learned and dedication.

The real lesson is that Nikhil is just like you. He has a full-time job, but a passion to make a living trading. And to reach that goal, he’s working on maximizing his trading strengths and minimizing his weaknesses, which is why TopstepFX is a great place for him.

We recently sat down with Nikhil to talk about his journey trading and what he would tell other traders in the TopstepFX Trading Combine. Here’s what he said.

The following was written and emailed to TopstepFX subscribers on Wednesday, May 16. To subscribe, start an account at https://app.topstepfx.com/register.

Heading into the summer, you might not expect this to be one of the most active times for the forex market. But in 2018, you can't make that assumption. 

Between the U.S. and China in a trade war — or trade dispute, depending who you ask — overall market volatility is staying high, presenting lots of opportunities to capitalize on. The GBP/USD has come $0.10 off its high, while the EUR/USD is down $0.08. 

The recent surge in the U.S. Dollar is among one of the three opportunities for forex traders to take advantage of. Here they are all the opportunities and why.