This is the Limit Up! Podcast - the place where we explore trading, trading psychology, trading life, and pretty much whatever else the wonderful world of markets has to offer. The Limit Up! Podcast is brought to you by Topstep and hosted by Jack Pelzer and Dan Hodgman. They’ll teach you how to trade, but more importantly, how to develop the habits that make traders good. Risk Disclosure: https://www.topstep.com/risk-disclosure/ Listen Notes
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Trading Costs & Prop Shop Payouts
34:36
34:36
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34:36
The true cost of trading futures is more than just your P&L. Learn what determines your bottom line whether you're trading from home or at a prop shop.Von Topstep
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Setting Expectations for Your Trading
32:18
32:18
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32:18
Setting grounded expectations will help you make steady improvements (and keep your sanity) while trading.Von Topstep
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Avoiding Revenge Trading
28:32
28:32
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28:32
Topstep Senior Performance Coach John Hoagland joins the podcast to discuss revenge trading and how to stop fighting the market.Von Topstep
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Venture into the world of the Trading occult with Dan and Jack as they discuss a few of the most common superstitions in the industry.Von Topstep
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Live Q&A With Topstep CEO Michael Patak
56:16
56:16
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56:16
Dan went live on YouTube this week to take trader questions with Topstep CEO Michael Patak. If you missed it, get it here.Von Topstep
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Being More Selective With Trade Entries
31:39
31:39
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31:39
Tightening up your entry criteria can pay big dividends in your account. Learn a few tips to help you avoid over-trading and under-performing.Von Topstep
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Managing Stress While Day Trading
25:03
25:03
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25:03
Is trading stressful? Definitely. Many traders are under-rested and overleveraged. Dan and Jack are here with a few solutions.Von Topstep
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Trade Coaching With Eddie Horn
25:22
25:22
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25:22
Topstep legend Eddie Horn joins the podcast to talk about the benefits of having a personal trading coach—which, by the way, Topstep now offers for free!Von Topstep
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Post Trade Reactions and Emotions
27:44
27:44
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27:44
Closing out a trade often comes with conflicting emotions. Learn how to use that to your advantage.Von Topstep
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How to Treat Your Trailing Max Drawdown
27:30
27:30
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27:30
Futures traders are usually pretty good about setting a daily drawdown limit. But how should you treat your unrealized gains?Von Topstep
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Equities are off to an explosive start in January. Does this mark a new shift in sentiment? Or is this just another bull trap?Von Topstep
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Prep-Trade-Reflect Part 3: "Reflect"
28:38
28:38
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28:38
The trading day is finished. Now it's time for perhaps the most important part of your process—a healthy dose of self-reflection.Von Topstep
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Prep-Trade-Reflect: Part 2
26:42
26:42
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26:42
Today, we explore the "trade" aspect of Topstep's Prep-Trade-Reflect system with special guest John Doherty.Von Topstep
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Prep-Trade-Reflect: Part 1
29:01
29:01
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29:01
In the next 3 episodes, Dan and Jack explore the Prep-Trade-Reflect system endorsed by the coaching team at Topstep.Von Topstep
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The Big Trading Trends of 2023
30:40
30:40
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30:40
We're back after a magical holiday break. Now it's time to examine the big trends that will shape markets in 2023.Von Topstep
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Levels to Watch in a Fast Market
26:50
26:50
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26:50
John Doherty joins the podcast today to discuss which levels really matter when the market starts rocking and rolling.Von Topstep
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So You're Saying There's a Chance! (of a soft landing)
29:32
29:32
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29:32
November ends with a glimmer of hope as the Fed hints at slowing rate hikes.Von Topstep
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CPI Surprises to the Downside (Finally)
25:19
25:19
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25:19
The NASDAQ was up 800+ points! Let's break down some of the good news from CPI.Von Topstep
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The Bear Market Comes for the Big Dogs
30:06
30:06
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30:06
Dan and Jack discuss the unprecedented wealth destruction happening in the NASDAQ courtesy of some of its biggest names. Plus it's time to digest the latest Fed minutes.Von Topstep
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Sometimes the best offense is a good defense. When your trading is on a cold streak, these are the adjustments you need to make.Von Topstep
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The Psychology of Year-End Trading
24:22
24:22
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24:22
Jack and Dan recover from CPI whiplash long enough to talk about how trading psychology and strategy change slightly in the fourth quarter. It's crunch time on Limit Up!Von Topstep
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What Makes a Tradable Market?
31:41
31:41
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31:41
The recent illiquidity spurs Dan and Jack to reflect on what makes a product something worth trading.Von Topstep
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The Break to the Downside
26:45
26:45
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26:45
What the Fed giveth, the Fed taketh away. Dan and Jack also play a few rounds of CNBC.com Roulette.Von Topstep
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Our Worst Trades: And What We Learned
35:03
35:03
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35:03
You learn from good trades. But you learn way more from the terrible ones. Dan and Jack discuss their most spectacular trading failures.Von Topstep
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Common Trading Questions with Eddie Horn
29:18
29:18
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29:18
Original Topstepper Eddie Horn joins the show to discuss the most common questions asked by traders.Von Topstep
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How to Recognize and Accept Losses
29:56
29:56
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29:56
John Hoagland stops by to discuss the ups and downs of trading, and why managing losses might be the hardest part of the game.Von Topstep
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How Prop Shops Manage Risk
32:21
32:21
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32:21
Dan and Jack discuss their personal experiences at professional prop shops. Specifically, they dive into how these companies manage their risk.Von Topstep
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It's time to get weird! Or at least as weird as one can be when talking about macroeconomics.Von Topstep
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The Biggest Myths About Trading
26:20
26:20
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26:20
Is trading all about fast cars, glamour, and screaming matches between colleagues? Of course not. Dan and Jack dig into a few of their favorite trading myths.Von Topstep
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Crude Oil has been on a tear since late 2020. But lately, that rocket has come back to Earth.Von Topstep
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Robinhood and the Dangers of Margin
30:05
30:05
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30:05
Congress released their report on Robinhood and memestock mania last week. And boy, is it a doozy.Von Topstep
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Is a Market Vibe Shift Coming?
27:03
27:03
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27:03
Plunging rate expectations have Dan and Jack split over the next move in equities.Von Topstep
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Where the 'Smart' Money Lives
32:33
32:33
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32:33
Bonds may not be as exhilarating as other futures products, but they are just about the most important indicator out there.Von Topstep
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With traders viewing everything through the lens of the Fed, good economic news might not be all it's cracked up to be.Von Topstep
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It's tempting to "jump" your levels so you can get in on the action. But if it's not part of your trading strategy, you might want to think twice.Von Topstep
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The Nasdaq is down more than 30%. Which begs the question, is everyone having fun yet? Dan and Jack discuss the levels to watch below.Von Topstep
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From Stocks and Options to Futures
30:22
30:22
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30:22
Most traders get started with stocks before exploring other products. Dan and Jack discuss the pros and cons of options and futures when it comes to daytrading.Von Topstep
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What You Need in Your Trading Journal
31:02
31:02
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31:02
Dan and Jack discuss the components of an effective trading journal. The trades. Hard data. Emotions and feelings. You'll need them all if you want to get better.Von Topstep
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It’s been 136 days since the NQ last hit an all-time high. This is uncharted territory for those who started trading in the past few years. Plus our thoughts on Elon Musk buying nearly 10% of Twitter. Enjoy!Von Topstep
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Dan and Jack look at charts going all the way back to 1998 to put the recent moves in context. Stock index futures are wobbling right now—so will it be smooth sailing, or is the drop we saw just the beginning?Von Topstep
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The Fed raised rates this week for the first time since before the pandemic. How will the markets react in this new environment?Von Topstep
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Volatility in markets, especially commodities, is extremely high. This is when you need to adjust your risk parameters to trade responsibly.Von Topstep
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Dan and Jack discuss how the Russian invasion of Ukraine completely changes everything.Von Topstep
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Dan and Jack respond to the Fed's threat to raise rates by a whole percentage point before July (not that any of them will care, but still). Then the discussion moves to trading with bracket orders. These are a powerful tool for traders, but the results of a little experiment run by Risk Manager Mick demonstrate why they can't be used like market-m…
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Dan and Jack reflect on today’s big drop in NQ and take on the concept of trading “congestion areas.” What are they? Why are they important? Listen and you shall be enlightened! There’s also a new segment where Dan reveals what’s working and not working this week for Topstep traders.Von Topstep
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How Much Should I Risk Day Trading?
36:51
36:51
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36:51
Discretionary trading requires a massive amount of… well… discretion. Dan and Jack rundown Thursday’s market action and then partake in a lively discussion about what percent of your stack should be risked each day, week, and year (or even what you should risk, period).Von Topstep
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1
Everything We Know About Stop Losses
31:51
31:51
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31:51
Every trader knows you need to trade with stops. But where the heck are you supposed to put them? Dan and Jack dive into initial, trailing, time, and volatility stops today in their quest to become more enlightened traders and better men.Von Topstep
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Rumors of Our Deaths: Greatly Exaggerated!
28:29
28:29
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28:29
Dan and Jack are back after going "off-the-grid" for six months to discuss their 2022 trading goals, Jack's new family situation, and the new, interactive format of the podcast. Check out the Topstep YouTube Channel at 3PM CT on Thursday afternoons to be part of future live recordings. It’s great to be back!…
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Who do you listen to when it comes to trading? Doing your homework and staying informed is an important aspect of long term trading success. As is having a place to bounce around ideas and hear different perspectives. However it’s also critical that you vet those sources. This week on Limit Up! Jack and Dan discuss the double-edge sword of easy acc…
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Building Long Term Success in Day Trading
32:45
32:45
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32:45
How do you build long term success in day trading? That’s the topic Jack and Dan are tackling this week with practical suggestions for account management, capital allocation and overall risk and money management, helping you find term success to keep you in the game. As always they kick things off with a discussion of current markets including the …
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