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Coach's Playbook Posted by Team Topstep March 9, 2021

The Benefits of Social Trading

The idea of surrounding yourself with like-minded people to bounce ideas off is not something new to traders. Social trading networks have been around for a long time. And, they continue to grow and evolve as technology creates new opportunities to reach more and more people.

Funded Trader Shoutout

It was a relatively slow week for news. A pullback in rising bond yields and the Covid-19 relief bill dominated headlines. The optimism surrounding those headlines creatied some volatility and a fairly dominant one-sided trade in the equity futures. 

That said, this week’s funded trader shoutout goes to Ameline D. In the face of surging markets, Ameline was able to roll with the punches and book $2,300 trading Nasdaq futures. In a world where timing is crucial, Ameline showed us how recognizing patterns and maintaining discipline can bring consistency to your trading in any market environment.

Great job Ameline, we all tip our hats to you!

The Evolution of Social Trading

Going back to the days when calling down to a desk on the trading floor to get breaking news directly from the pits was a significant edge, many traders still consider access to information to be a key ingredient to their success.

The evolution of social trading has taken us from the trading floor to shared office space, to chat rooms, and on to social media platforms. Borders no longer exist when it comes to joining a community to share knowledge and ideas with. And the farther you expand your network, the more information you will have access to.

Listen and Share

Effectively leveraging relationships with other traders and being able to sift through all the noise to find reliable contributors who provide open and honest feedback has become the new edge. A group of peers sharing information and pushing each other to succeed will likely do better than someone going up against the big guys on their own. After all, in trading, you start on day one by going toe-to-toe with the best in the world. 

Trade Well!