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Trading Education Posted by Team Topstep February 6, 2020

How to Have a Successful Trading Career with Dan Hodgman Sr.

Episode Summary:

Limit Up’s own Dan Hodgman has talked before about growing up with a trader for a father. This week we’ll hear from the man himself! Dan Hodgman Sr. joins Jack and his son for a conversation about what trading looked like during different parts of his career. If you’ve been wondering what the full picture of a career in trading looks like, this is the episode for you! Dan shares his best tips and wisdom on how to achieve a productive, fulfilling career either on the floor or in front of a computer.

Full Show Notes:

Limit Up! has got a new look. In our survey last year, the overwhelming consensus was that listeners were interested in more trader education. That’s why this week Jack and Dan are talking to trading legend, Dan Hodgman Sr. Dan has talked in the past about growing up with a trader for a father and this week you’ll hear from the man himself.

Dan Hodgman Sr. discusses how the landscape of trading has changed, how he was able to build a balanced life for himself within the trading industry, and the mentorship that informed his years on the floor. Dan also talks about what risk really means and why you should never think of treasury bonds as money. Listen to the episode for tips and wisdom from a trading veteran.

  • [00:16] – This week: Dan Hodgman
  • [01:07] – Market reaction
  • [04:19] – Interview with Dan Hodgman
  • [05:46] – Family trading legacy
  • [08:03] – From stockbroker to floor trader
  • [10:53] – Trading classes
  • [12:17] – What’s my risk?
  • [15:03] – Sizing down
  • [17:59] – Controlling the trade
  • [21:58] – Getting back into the game after a big loss
  • [25:39] – Winning day mentality
  • [27:53] – Statistics & probabilities
  • [30:46] – Fortunate opportunities
  • [34:54] – Retirement


What is Limit Up?

Limit Up! is a podcast for traders of all levels brought to you by Topstep. Whether you’re considering a career in trading and don’t know where to start, or you’re a seasoned veteran looking for advice from big names in the financial industry, Limit Up! is your guide. Join us weekly as we discuss the market in all of its volatile glory. Risk Disclosure:

Jack Pelzer is a co-host of Limit Up! He traded as part of a U.S. Treasury group for 7 years at Chopper Trading and DRW. After leaving the industry, he became a Writing Fellow and Senior Contributing Writer for The Onion. He is now the Head of Content at Topstep.

Dan Hodgman is a co-host of Limit Up! Before coming to Topstep, Dan traded 30 Yr Treasury Options and Yield Spreads. Before that, he served in the United States Marine Corps, where he simultaneously managed his own Futures Account, applying the skills he grew up learning from clerking on the trading floor. Now Dan works with the Traders here at Topstep as a Performance Coach and is a regular on the Daily Market Recap.

If you’d like to receive new episodes as they’re published, please subscribe to Limit Up! in Apple Podcasts, Google Podcasts, Spotify, or wherever you get your podcasts. If you enjoyed this episode, please consider leaving a review in Apple Podcasts. It really helps others find the show.

Podcast episode production by Dante32.