Help me plz

Bourneidentity

Newbie
6 0
Hi everyone! I am pretty new to trading and I am trying to wrap my head around everything. Are there any good websites/blogs that people know of that have help from experienced traders out there? Appreciate any help I can get at this point.
 

timsk

Legendary member
7,344 2,136
Are there any good websites/blogs that people know of that have help from experienced traders out there? Appreciate any help I can get at this point.
Hi Jason,
What a very odd question! It's akin to strolling into the Dorchester in London or Gidleigh Park in Devon and enquiring if there are any decent restaurants in the area!
:)

Take a gander at the first two links in my signature and then post any subsequent questions you may have.
Tim.
 

Bourneidentity

Newbie
6 0
Hi timsk, thanks so much for all your help. I actually feel like I am starting to understand things a lot more. J I have stumbled upon something called toptradr through their blog on tumblr. Does anyone know anything about them? Are they worth looking at? I have heard that a lot of social trading apps are just things that make the real traders lives easier. Is this true? So far I have found their “follow” tab to be really helpful. It lets me see what all my favourite traders on the app are doing in real time but I have to make the trade myself rather than just copying it which has also helped me gain a bit more understanding. Their blog on Tumblr was REALLY helpful too. All their past contest winners have done interviews with them and its really interesting to see what they have to say. Would you mind checking them out and see if I am just being sucked in or if they are the real deal? Thanks again for all your help!
 

Giovan

Active member
163 7
Hi timsk, thanks so much for all your help. I actually feel like I am starting to understand things a lot more. J I have stumbled upon something called toptradr through their blog on tumblr. Does anyone know anything about them? Are they worth looking at? I have heard that a lot of social trading apps are just things that make the real traders lives easier. Is this true? So far I have found their “follow” tab to be really helpful. It lets me see what all my favourite traders on the app are doing in real time but I have to make the trade myself rather than just copying it which has also helped me gain a bit more understanding. Their blog on Tumblr was REALLY helpful too. All their past contest winners have done interviews with them and its really interesting to see what they have to say. Would you mind checking them out and see if I am just being sucked in or if they are the real deal? Thanks again for all your help!

Bourne you wanna live to trade another day? I suggest you focus your energy on learning the market as its timsk's links indicate. There are not two ways on getting it right, start studying and you will soon realize that good traders have really nothing to brag about..........
Get it?
 

timsk

Legendary member
7,344 2,136
I have stumbled upon something called toptradr through their blog on tumblr. Does anyone know anything about them? Are they worth looking at? . . . Would you mind checking them out and see if I am just being sucked in or if they are the real deal?
Hi Jason,
I may have the wrong firm, but I suspect you're referring to Topstep Trader run by Michael Patak? If so, check out the link for more about them. Generally, there are some favourable comments, although I know little about them beyond my dealings with Mr. Patak who submitted this article to us a while back: Five Characteristics of a Successful Trader
Tim.
 

Bourneidentity

Newbie
6 0
Bourne you wanna live to trade another day? I suggest you focus your energy on learning the market as its timsk's links indicate. There are not two ways on getting it right, start studying and you will soon realize that good traders have really nothing to brag about..........
Get it?

I understand that traders that found the secret to the market might not want to share it. However I do not see how them disclosing their trades would be harmful to them. It seems to me that Soros was doing the same when he attacked the Bank of England. He took a massive short Gbp and advertised everywhere why he did it. People followed him and Gbp finally Collapsed. Traders that are famous might then want to trade and get the market to support their positions no? Am I making sense here?




My approach is purely educational. I simply think it makes sense to check what successful traders are doing. Toptradr seems to be backing the winners with their own cash so they are probably trying to find decent traders.




In any case I hear what you say and I am sure that it is unlikely to find Soros in a retail trading contest. However the question is what are my alternatives? Crossing fingers to get in touch with the secret trader or trying to find online sources? I am sure there are tons of scams out there with bad trade signals and useless trading courses. However I do not see any harm in talking to other traders that have some success especially if it is for free!
 

Bourneidentity

Newbie
6 0
Hi Jason,
I may have the wrong firm, but I suspect you're referring to Topstep Trader run by Michael Patak? If so, check out the link for more about them. Generally, there are some favourable comments, although I know little about them beyond my dealings with Mr. Patak who submitted this article to us a while back: Five Characteristics of a Successful Trader
Tim.

Hi Tim,

Thanks again for your continued help. The app I am talking about is TopTradr. Here is their link http://toptradr.com.

-Jason
 
L

Liquid validity

0 0
In any case I hear what you say and I am sure that it is unlikely to find Soros in a retail trading contest. However the question is what are my alternatives? Crossing fingers to get in touch with the secret trader or trying to find online sources? I am sure there are tons of scams out there with bad trade signals and useless trading courses. However I do not see any harm in talking to other traders that have some success especially if it is for free!

Its a game.
It requires hard work and research.
There is no market secret, secret trader or shortcut.
Any money you make comes from someone else losing.
Most people lose.
No one is going to put free easy money in your pocket.
There is a long queue quite willing to take your money though,
in losses, training fees, systems, alerts, and tipsheets.

The most anyone can do is point you in the right direction,
and tell you how to at least not lose all your money in 1 week.
The rest of it is down to you and hard work.
Even after all that hard work, you may well get nowhere.

If this seems reasonable and realistic to you then carry on.
If what I've just said isn't what you want to hear, then stop now.
 
Last edited:

Jason Rogers

Senior member
2,768 92
Hi Tim,

Thanks again for your continued help. The app I am talking about is TopTradr. Here is their link http://toptradr.com.

-Jason

Hi Jason (great name, btw (y))

TopTradr is a company that runs a proprietary trading desk. That means they hire professionals to trade their money for them and split the profits. As you mentioned, their smartphone app lets you follow the trades of anyone participating in the TopTradr contest, which is co-hosted by FXCM.

From past experience, we've learned that the flaw with most trading contests is that they put too much emphasis on returns without taking into account whether such performance is sustainable. That's why you might see contest winners who make over 1000% in a single month only to lose it in the future. They were taking huge risks to get the highest returns during the contest period, instead of applying sound trading principles that would have served them better over the long run.

The TopTradr contest is different, because instead of overall returns, emphasis is placed on risk/reward and consistency with the goal of trying to identify traders capable of long term success. There's a reason for this, because in addition to the cash prizes awarded each week, the first place winners also get the opportunity to trade TopTradr's money in a proprietary trading account and split any potential profits with them.

Jason
 
Last edited:

gigiones

Junior member
19 0
Hi everyone! I am pretty new to trading and I am trying to wrap my head around everything. Are there any good websites/blogs that people know of that have help from experienced traders out there? Appreciate any help I can get at this point.
I think you can take help from Forex website babypips.com. It is a teacher of newbies and you can get guidness from there.
 

pboyles

Legendary member
8,072 1,302
Hi Jason (great name, btw (y))

TopTradr is a company that runs a proprietary trading desk. That means they hire professionals to trade their money for them and split the profits. As you mentioned, their smartphone app lets you follow the trades of anyone participating in the TopTradr contest, which is co-hosted by FXCM.

From past experience, we've learned that the flaw with most trading contests is that they put too much emphasis on returns without taking into account whether such performance is sustainable. That's why you might see contest winners who make over 1000% in a single month only to lose it in the future. They were taking huge risks to get the highest returns during the contest period, instead of applying sound trading principles that would have served them better over the long run.

The TopTradr contest is different, because instead of overall returns, emphasis is placed on risk/reward and consistency with the goal of trying to identify traders capable of long term success. There's a reason for this, because in addition to the cash prizes awarded each week, the first place winners also get the opportunity to trade TopTradr's money in a proprietary trading account and split any potential profits with them.

Jason

What is FXCMs connection to toptradr?
 

Jason Rogers

Senior member
2,768 92
What is FXCMs connection to toptradr?

TopTradr is an introducing broker for FXCM. In order to seek out new trading talent, they approached us with the concept for a trading contest designed to find people with the characteristics they seek in prop traders, namely sound risk management and consistent equity growth. To accomplish this, TopTradr devised a formula to calculate TT scores and a smartphone app, so traders can track their progress on the contest leaderboard.

We liked TopTradr's idea, because our clients have asked us about offering a new trading contest, since the old King of the Micro contest ended. Also, the design of the TopTradr contest rewards good trading practices, which we hope will encourage other traders.

Each week cash prizes are awarded to ten FXCM clients at the top of the contest leaderboard. In addition, the weekly first prize winners also get the opportunity to trade TopTradr's money in prop trading accounts and split any potential profits. We also interview the contest winners, so others can learn from them.
 

pboyles

Legendary member
8,072 1,302
TopTradr is an introducing broker for FXCM. In order to seek out new trading talent, they approached us with the concept for a trading contest designed to find people with the characteristics they seek in prop traders, namely sound risk management and consistent equity growth. To accomplish this, TopTradr devised a formula to calculate TT scores and a smartphone app, so traders can track their progress on the contest leaderboard.

We liked TopTradr's idea, because our clients have asked us about offering a new trading contest, since the old King of the Micro contest ended. Also, the design of the TopTradr contest rewards good trading practices, which we hope will encourage other traders.

Each week cash prizes are awarded to ten FXCM clients at the top of the contest leaderboard. In addition, the weekly first prize winners also get the opportunity to trade TopTradr's money in prop trading accounts and split any potential profits. We also interview the contest winners, so others can learn from them.

Isn't there a more direct connection than that? Is this outfit just a front for FXCM? Obviously with your history of defrauding clients it's much better to recruit new 'talent' under a different name.

By the way is there any progress on refunding the non US clients that lost money?
 
 
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