Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

TopstepTrader

Simplify Your Trading As Much As Possible

Recommended Posts

To be a profitable trader, you don't have to master every technique in existence. There are many different strategies and styles of trading and there are many different financial instruments you can trade. We trade futures, among which you can trade equities (the S&P mini's, the Dow mini's or the Nasdaq mini's), you can trade currencies or debt (bonds & notes), or you can trade commodities such as oil, corn, and natural gas. Each style of trading can be different and each futures product trades in its own way. The key point is that you need to find a trading strategy and a specific product that you are comfortable with and that fits your personality.

 

I have read extensively, and several authors have said that the best traders they know only trade one or two products using one or two strategies over and over. Those traders have come to know that specific type of contract so well in every market condition, that they experience almost a Zen-like awareness of what that market is likely to do next.

 

Author and renowned trader, Larry Williams, said he only has a few strategies (around 5 if I remember correctly) in his bag of tricks that he uses to profit from over and over. Therefore, using your time at TopstepTrader should be considered a search for a strategy and a product that works for you. It is true that there are lessons in common that all traders need to learn, but you only need one strategy with one product that works consistently for you to have a profitable career. Finding that strategy and product and then producing consistent results will take time and effort, but is ultimately what you should be working to accomplish.

 

Most traders I've talked to took at least a year to learn it, so don’t think it will come quick and easy. Some trader-authors even say it took them several years to become consistently profitable. We are smart enough to recognize what professional traders and experts say; therefore we need to understand that it can be accomplished if we are willing to put in the work. Trading doesn’t have to be a solitary thing. We need to be open to learning, listening and communicating with others as this serves to help us better understand ourselves as well as the dynamic of the market and how to achieve long term success. This is the essence of the TopstepTrader community. Use this to your advantage and the rewards will certainly come.

 

 

Many Profitable Returns,

 

 

Trader Gregg

 

Mr. Killpack has been studying the markets since 1988. He has read over 40,000 pages about trading and investing strategies, fundamental and technical analysis, and related topics. He began day trading in 2001.

Share this post


Link to post
Share on other sites

I Agree fully,

 

I begin to trade full time 1 years ago, and 1 1/2 years ago I had no idea at all of what was day trading and even don't know the signification of Bull or Bear ! :)

s

So to make a Short Story: I began on my own to trade with "simple" strategy, taht I even don't know they exist and have their own name... ;-)

 

The firs was to look at Stocks that drop fast and deep on a "news" & learn about the company if the move is rational or emotional. So when it was emotional I bought the stock and sell right after the emotion fade as the stock comeback... 2 months ago I learn it's call "momentum" Hahahaha !

 

So I was successful and make lot money of money... but I was using a "Full-service stock broker" so each trade cost me $350-500 Cdn for ONE in&out, but I was happy since I made lot of money, and don't know how much charge a "discount broker" for a trade.

 

So when I was ready I moved my asset to a discount broker to have bettr price and not having to call my broker each time I want to do a trade... So I go with TD to transfer my all my asset since my "test" to know if I can make a living of "Day Trading" was successful.

 

He ask me what was mt return on investment ? I told him since 6 months (Test period) it was an average of 10-15% by years, he says me WOW !!!! And ask me about how I achieve such result... I told him about buying low when peoples was emotional about a stock and as soon the fears fade away and stock recover.

 

So I used this "strategy" 70% of time.. Of course since that time I educated myself by the net and forums like this one... I've learn about options ( I know a lot about the strategy with options involving Greeks) but never used option at this time. But I know they are there, and what I can do with options, how to use them so if I found that using it could maker me more successful I will use it... for me it's just one more tolls to use.

 

But I use the tools I'm good at... and the ones bring money, since it's the primary goals.

 

Recently I learn about shorting and margin cause I see that I can make more money when stock goes down... since some stocks have trends for more than one years of going down, there is "almost" no risk since I know clearly the trend and what the company need to reverse it.. from my point of view it's safer to go short in many case tan going long...

 

Since I have almost no formal education, I've see I don't have the same approach to the market that most trader have. I never used "Pre-fabs Strategy", so in my mind I'm not limited to what already exist, I "create" way of making money with stocks.... and use few strategy, also I use only the most efficient way to make profit.

 

There is lot of money to do with the options, but for me using "real share" is more simple and efficient as of now.

 

So I'm successful in trading and living of trading, and using only few and simple "way" (read strategy) to make money is more efficient than reading Zillions of parameters to analyze the market and over-analyzing everything... I chosen to make money in a more efficient way and discover at the same time that some peoples are taking more time in "Making" strategy than trading...

 

So Keep it simple and Stupid ;- ) KISS !!!

 

 

So the only strategy I use is -- >

 

oe_elephant_talk-009.jpg

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Date: 29th March 2024. GBPUSD Analysis: The Pound Trades Higher But For How Long? The global Stocks Markets are closed due to Easter Friday (Good Friday). The NASDAQ continued to follow the sideways trend while other indices again rose. The SNP500 reaches an all-time high, but the NASDAQ remains under pressure from Tesla, Meta and Apple. The Euro continues to trade lower against all major currencies including the US Dollar, Euro and Japanese Yen. The British Pound is the best performing currency during this morning’s Asian session. However, investors are largely fixing their attention on this afternoon’s Core PCE Price Index. GBPUSD – The Pound Trades Higher but For How Long? The GBPUSD is slightly higher than the day’s open and is primary due to the Pound’s strong performance. At the moment, the British Pound is increasing in value against all major currencies. However, the US Dollar Index is also trading 0.10% higher and for this reason there is a slight conflict here. If investors wish to avoid this conflict, the EURUSD is a better option. This is because, the Euro depreciating against the whole currency market avoiding the “tug-of-war” scenario. The GBPUSD is trading slightly lower than the 2-month’s average price and is trading at 49.10 on the RSI. For this reason, the price of the exchange is at a “neutral” level and is signalling neither a buy nor a sell. The day’s price action and future signals are possibly likely to be triggered by this afternoon’s Core PCE Price Index. Analysts expect the Core PCE Price Index to read 0.3% which is slightly lower than the previous month but will result in the annual figure remaining at 2.85%. The PCE rate is different to the inflation rate and the Fed aims for a rate between 1.5% to 2.00%. Therefore, even if the annual rate remains at 2.85%, as analysts expect, it would be too high for the Fed. If the rate increases, even if only slightly, the US Dollar can again renew bullish momentum and the stock market can come under pressure. This includes the SNP500. Investors are focused on the publication of data on the UK’s gross domestic product (GDP) for the last quarter of 2023: the quarterly figures decreased by 0.3%, and 0.2% over the past 12-months. This confirms the state of a shallow recession and the need for stimulation. The data, combined with a cooling labor market and a steady decline in inflation, increase the likelihood that the Bank of England will soon begin interest rate cuts. In the latest meeting the Bank of England representatives did not see any members vote for a hike. USA500 – The SNP500 Rises to New Highs, But Cannot Hold Onto Gains! The price of the SNP500 rises to an all-time high, before correcting 0.33% and ending the day slightly lower than the open price. Nonetheless, the index performs better than the NASDAQ which came under pressure from Tesla, Meta and Apple which hold a higher weight compared to the SNP500. For the SNP500, these 3 stocks hold a weight of 9.25%, whereas the 3 stocks make up 14.63% of the NASDAQ. The SNP500 is also supported by ExxonMobil’s gains due to higher energy prices. The market will remain closed on Friday due to Easter. However, the market will reopen on Monday for the US and investors can expect high volatility. Investors will also need to take into consideration how the PCE Price Index and the changed value of the US Dollar is likely to affect the stock market next week. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Michalis Efthymiou Market Analyst HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • MT4 is good and will be good until their parent company keep updating the software, later mt4 users will have to switch to mt5.
    • $SOUN SoundHound AI stock at 5.91 support area , see https://stockconsultant.com/?SOUN
    • $ELEV Elevation Oncology stock bull flag breakout watch , see https://stockconsultant.com/?ELEV
    • $AVDX AvidXchange stock narrow range breakout watch above 13.32 , see https://stockconsultant.com/?AVDX
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.