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The 7+ Habits of Highly Effective Traders with Jack, Dan, and John

Posted by TopstepTrader on January 20, 2020

This week on Limit Up! we’re getting back to the basics and taking a look at the habits and attributes of top traders. Jack, Dan, and John are on mic this week sharing some of their observations from their lives in front of the screens.

Listen in to find out why your P&L monitor is just a distraction, why the best traders are first to arrive and last to leave, and have an ultra-compulsive work ethic (we didn’t say all the traits are healthy). We’re also announcing the winners of the listener survey and sharing some of the feedback we’ve received.

If you’ve been wondering how you can improve your trading game, tune in and take notes.

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Topics: Limit Up! Podcast, trading strategy

The Future of Crypto Trading with Brock Connelly

Posted by TopstepTrader on January 14, 2020

Crypto has been around for quite a while but there are still many who don’t fully understand how it works or how it will change the industry further down the road. Tokenization has big implications and can potentially become a great equalizer. On this week’s episode of Limit Up! Brock Connelly of RoundBlock Capital is here to explain crypto futures.

Brock shares his advice for traders looking to get into the crypto space and talks about some of the common misconceptions people have about bitcoin and other cryptocurrencies. Listen for Brock’s tips and learn more about his new venture RoundBlock Capital. Stay tuned for this week’s MARKet Reaction.

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Topics: Limit Up! Podcast, trading strategy, Jeff Carter, Crypto

You Should Have a Trading Journal. So Why Don't You?

Posted by Peter Davies on January 08, 2020

Every educator worth their salt will tell you, it’s important to journal your trades, to keep a record so you can track your progress.

However, almost all traders fail to heed this advice. In fact, of the traders I work with, I’d say that less than 5% keep a consistent trade history. It’s not just laziness at play here; there are practical and psychological reasons that make keeping a journal a challenge.

Let’s start by looking at some of the reasons you might avoid journaling your trades.

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Topics: Peter Davies, Trading Plan, Futures, trading strategy, Jigsaw Trading

From 31 Years on the Trading Floor to Academia with John Nyhoff

Posted by TopstepTrader on January 06, 2020

Trading is an adrenaline rush. But when that rush starts to feel like a drag, it might be time to look for your next steps. Our guest this week on Limit Up! spent 31 years on the floor before making the transition to academia and private consulting. John Nyhoff, whom Jeff used to trade with on the floor, stopped by to chat about what it’s like to make the leap.

John discusses the adjustment period he underwent just to get used to the amount of free time he’d acquired thanks to school breaks. John also talks to Jeff about his predictions for where the financial market is headed in 2020.

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Topics: Limit Up! Podcast, trading strategy, Jeff Carter

The Man Who Took on MF Global with James Koutoulas

Posted by TopstepTrader on December 17, 2019

James Koutoulas founded Typhon Capital Management in 2008. But it wasn’t until MF Global’s devastating bankruptcy that he found his true calling. On this week’s episode of Limit Up! James talks to Jeff about founding the customer advocacy group Commodity Customer Coalition and discusses the positive changes the organization has brought about. Tune in and get inspired!

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Topics: Limit Up! Podcast, trading strategy, Jeff Carter

Managing Risk and Finding Your Trading Niche with David Klusendorf

Posted by TopstepTrader on December 10, 2019

David Klusendorf, Chief Investment Officer of Typhon Capital, likens managing risk to a quote from the movie Good Will Hunting: “I can't play the piano. When I look at a piano, all I see are black and white keys. But Beethoven saw a symphony.” Likewise, with trading, you have to be able to look at the numbers and see the big picture.

On this week’s episode of Limit Up! Jeff talks to David about market volatility and risk. David shares his best tips for managing risk and makes the case for why you need to be curious enough to find your trading niche. He also offers up his advice for new traders and explains why trading is not magic: it’s a lot of behind-the-scenes work.

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Topics: Limit Up! Podcast, trading strategy, Jeff Carter, David Klusendorf

Pros and Cons of Day Trading vs. Swing Trading

Posted by TopstepTrader on October 13, 2019

How long do you plan to hold your position? This is one the fundamental questions a trader needs to ask before diving into the markets. If you're a short-term trader, the temptation to cling to a position long after the signals change is strong. That devil on your shoulder assures you that this is all going to work out—just let it ride!

Congratulations! You have now become an unintentional swing trader. There's nothing inherently wrong with this, but it's important to know the differences between trading in the short term (day trading) versus trading in the medium-to-long term (swing trading). Neither strategy is objectively better; however, both have a number of pros and cons that we will explain below.

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Topics: Trading Basics, Futures, trading strategy

3 Things You Need to Know About Trading October

Posted by TopstepTrader on September 29, 2019

Have you heard of the "October Effect"? It's the phenomenon suggesting that markets tend to be more volatile in October compared to other months. There is some debate as to whether the effect really exists—however, just last week Goldman Sachs urged investors to prepare for a wild month, noting that "stock volatility has been 25% higher in October on average ever since 1928."  Here are 3 things to keep your eye on between now and Halloween. 

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Topics: trading strategy

How David Tepper Made $7-Billion Calling the Bottom

Posted by TopstepTrader on August 11, 2019

Is it possible to be a middle class billionaire? David Tepper would certainly like you to think so. On one hand, he lives in a relatively modest home in New Jersey — then again, he also claims a $50-million mansion in the Hamptons and owns the Carolina Panthers. 

He’s unabashedly crude, but actively philanthropic. Many see him as a god-like figure in the world of trading, while others think he's just an “a**hole.” What no one can deny, is that David Tepper is pretty damn good at picking stocks. 

Today's installment of the 7 Greatest Trades of All-Time, explores how Tepper made $7-billion buying distressed financial assets in the depths of the Great Recession.

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Topics: Equities, trading strategy, trading history, Greatest Trades, David Tepper

10 Best Trading Books for Your Reading List

Posted by TopstepTrader on August 08, 2019

A lot has been written about trading, investing, and financial markets over the years. Some books are great, and many are, well, bad (really bad). Here’s a list of ten names that have stood the test of time and that are worth a look when you’re shopping for your next reading material.

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Topics: Trading Basics, trading strategy

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