The TopstepTrader Community is strong, and we wanted to share the engaging conversations and helpful information discussed on our daily Squawk broadcast with anyone who may have missed them. Every Friday, we'll cover the top markets of the week, headlines that impacted the markets, and highlights from chat debates and educator segments.
Let us know what else you'd like to hear about!
Top Market Movers
Monday, February 13: S&P all-time high, Dow all-time high, Nasdaq all-time high
Tuesday, February 14: Crude (high $53.72, low $52.86)
Wednesday, February 15: Crude switched March to April CLJ
Thursday. February 16: Gold (high $124.38, low $123.32)
Friday, February 17: Japanese Yen opened up higher
Top Market Breaking Headlines
- Yellen brushes off warning, says Fed has authority on global talks. Reuters
- “The EU is the old Soviet Union dressed in Western clothes.” Mikhail Gorbachev, Express
- ECB official hints at division over rate cuts - ECB could increase its bond purchases and cut rates if needed. Dow Jones News
- Snapchat is going public, seeking up to $3 Billion. Newser
- Flynn in FBI interview denied discussing sanctions with Russian ambassador. Washington Post
- Russian spy ship now off East Coast - 30 miles south of a U.S. Navy submarine base in New London. ABC News
Community Excerpts
“It's not anyone else's job to remind you of what you're supposed to be trading... it's your responsibility to go on the respective exchanges websites and look at the current volumes and advisories on change of front month contracts.” Hitman47-X1
“My Quote Of The Day: I saw a good quote for trading. ‘People who fail in life often fail to fail enough.’ I never considered the positive side of failure before, but I can see how every successful person has failed at some point.” FredDecker
“Orders are best with order flow analysis. But cumulative delta will show sellers coming in when prices are still going up. That is institutional distribution.” tradersean
“Jigsaw [Trading] is the best in the business for learning and using order flow.” Foster
“What I Learned Today: Made some good observations concerning RSI levels that led me to take a few trades that maybe I wouldn't have in the past. Made a few ticks overall, but as often is the case, the ideas developed into handle winners 20 minutes later.” 90bideven
Educator Highlights
“Start to think about a more systematic approach in trading. It will payoff.” John Slazas, JS Services
“Try not to be a hero and fight the market. Markets will turn and you will find good evidence.” Justin Weinraub, Day Trade the Markets
Anne Marie Baiynd shared the MACD method. Click to listen to the segment
“ES: Still looking for more upside and still would like to see a pullback to the top of the old range(s) to give us the best upside move.” Peter Davies, Jigsaw Trading
Next Week's Economic Releases
Monday, February 20: Presidents Day [US] - Markets Closed
Tuesday, February 21: FED Speaker Harker
Wednesday, February 22: FOMC Minutes 1:00 PM CT
Thursday, February 23: Jobless Claims 7:30 AM CT, EIA Petroleum Status 9:30 AM CT, and FED Speaker Lockhard
Eddie's Note
Crude has been in a tug of war lately. Ranging from the 50 handle to 55 handle, it’s been a battle of who is telling the truth. Can OPEC be trusted? Can they commit to an agreement? This is what is making the moves for us in Crude. We need to remember to be biased as traders and take what the market gives us each day.
Remember: Patience, Discipline and Management
-Eddie Horn, Broadcaster
