#008: John Hoagland from Top Step Trader

EP 008
The Traderview Episode 008 - John Hoagland - Top Step Trader

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Show Notes

Introduction

Q: Tell us about your background. 

  • John is a third-generation trader! 

Q: Do you remember your first big winning trade? What did you do with the money? 

  • His first big trade was the biggest trade he ever made. 
  • What did he do with it? He gave half, and went back to trading the next day  

Q: At what point did trading become your primary source of income? 

  • John traded and worked a second job from 1983 until he quit his second job in 1992. 

Q: What does a typical day look like for you?  

  • John’s typical day starts at 5 a.m. to catch the train to the office. 
  • John looks for opportunities and takes calls from others, trades throughout the day and works on educational opportunities for other traders. 

Q: What markets do you trade and why? 

  • John trades the S&Ps, although it’s difficult to read on screen. Recently, he has expanded to crude oil and gold. 

Q: What is your favorite trading strategy in today’s market? 

  • Market profile and market state trader as well as volume profile 

Q: What is different about your approach compared to other traders? 

  • No two traders will look at the market the same, but the difference comes with emotion, psychological makeup and skills  

Q: How does your strategy differ for generating income versus building wealth? 

  • When building wealth more about balancing different asset classes. 
  • John considers trading for income and investment. 

Q: How would you trade a $5,000 account differently than a $50,000 account?  

  • John would be trading more contracts and looking for bigger swings in the markets. 

Q: How do you limit risk? 

  • John manages risk by limited the amount of money in his account 

Q: What trading platform do you use primarily? 

  • John likes the CTST 4 platform the most as he learned on that, but he also likes NinjaTrader, Sierra Charts and Jigsaw 

Q: Which indicator could you not live without? 

  • John doesn’t use many indicators 

Q: Do you keep a trading plan and trading journal? 

  • Yes, your trading journal is your business plan!  
  • Read, review and repeat 

Q: What do you like most about trading and what do you like the least? 

  • John likes the feeling he gets when he is right about a trade! 

Q: Was there a specific turning point where you went from consistently losing money to being consistently profitable? 

  • John was struggling in the S&P and a friend brought him a book and told him to hide it and read the first 100 pages the book.  

Q: What was your best month as a trader? Your worst month? 

  • First month as proprietary trader was John’s worst month 

Q: Do you have a favorite story about how your success in the market allowed you to impact the lives of others? 

  • John’s kids and wife has been positively impacted 
  • Seeing people he’s advised over the years achieve success makes John happy 

Q: If you could go back in time, what advice would you give to your 20-year-old self? 

  • Buy Microsoft, Apple and Starbucks stocks and stay in art school. 
  • Have no fear 

Q: How do you measure success in life? 

  • Passion, positive impact on others and whether you’re tired at the end of every day 

Q: What have you had to sacrifice to get where you are today? 

  • John has sacrificed the pigment in and presence of hair! 

Q: If you could do it all over again, is there anything that you would have done differently? 

  • No, he would have not done anything differently unless there is an opportunity to have more of a positive effect on people 

Q: What is your biggest challenge as a trader?

  • John’s biggest challenge was moving from pit to screen because he had to unlearn the pit to positively respond to the screen  

Q: What is the biggest difference between successful traders and unsuccessful traders? 

  • The biggest differences are planning and risk management 

Q: If you had one important piece of advice to give to a new trader what would it be?

  • Do not trade your own money 
  • Learn to trade on a simulator 

Q: How has your mindset evolved over time? 

  • John has learned to act the opposite of his emotions 

Q: How should someone handle losing streaks? 

  • John likes to break both types of streaks, winning and losing 
  • Winning and losing streaks will lead you to make emotional decisions
  • Take a day off 

Audience Q+A

Q: What percentage of individuals that start in a trading combine achieve a funded account? 

  • A: How does that help you? This is your journey and they are all different.  

Q: Who are your biggest trading influences today?

  • A: John’s biggest influences are the people that taught him his skills. 

Q: What is the best way to find a mentor?

  • A: At Top Step, you get a complimentary mentor. From other sources, mentors can be very expensive so vet them extensively. You can also self-mentor, and John tells you how.  

Q: I have heard you might start a live trade room within TopStepTrader, is that true?

  • A: You never know! 

Q: What is the process to join the TopStepTrader combine and what does it cost?

  • A: Visit TopStepTrader.com to find out! 

Q: If you had the power to make something required reading for every high school senior in the world, what would that be? 

  • A: Deep Survival by Laurence Gonzales 

Q: What is the next step in your evolution as a trader? 

  • A: John’s path works for him, so he will continue this way 

Q: What is the best way to get in touch with you? 

Closing

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Tweetables

“There are a million ways to skin a cat”

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“This is your journey."

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“Have no fear, just do it.”

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“Evolution happens in spite of you, not because of you.”

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3 Action Steps

  1. Increase market knowledge constantly
  2. Increase self-knowledge constantly
  3. Think: risk first

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How to Get More Free Training from John Hoagland

Get More Free Training from Ted Posobiec: WINvesting.com/#winners

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Resources and Links

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About John Hoagland

Ted Posobiec is the host of the "E-Mini Insider" daily trading room at WINvesting.com.Ted was a stock trader for over 18 years, and started trading E-mini futures five years ago. For the past three years, his "full time" job has been day trading ("full time"meaning about 1-2 hours a day on average). He trades several different systems and styles, and likes to help others find what works best for them.

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Get your questions answered, learn good money-management skills, and see the orders placed on the chart well before trades happens.

Most importantly, get personalized feedback on how to overcome the obstacles that have held you back so far in your trading career.

And it's all included when you join the WINNER'S Circle Membership at WINvesting.

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