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Hello, my friend!
It’s a fresh Monday.
Last day of the month. Still just another session. Treat it that way.
Price is leaning lower with more geopolitical heat on the tape:
⟹ Trump said the U.S. will respond to Iran’s attack on U.S. forces (Fox).
⟹ Bessent said he believes Japan and the BoJ will move in a way that supports a stronger yen.
⟹ On Iran, more pressure continues.
Mark where those headlines hit. Know your volatility levels. Write the bias before you click. Then leave it alone.
Prop Watchlist
Firms are tightening plans.
A few items worth knowing before you size the next eval.
Alpha Futures lost the first court round against NinjaTrader / Tradovate.
A federal judge denied the TRO and injunction. The court said Alpha had not shown it was likely to win on the trade-secrets claim. The rest of the suit is still alive; both sides asked for settlement talks. This is the hangover from July - Tradovate cut Alpha off, and Alpha killed the Premium plan.U.S. Props are still lining up as CFTC introducing brokers.
Tradeify’s Slay Markets and Topstep Brokerage are on that path. The sim shop and the brokerage that introduces a live account are not the same thing. Prediction-market names are copying the model. Europe is not.The Funded Trader’s founder shut another futures prop.
Angelo Ciaramello closed Rev One and said he is stepping away from prop. He pointed at the platform stack, not demand. It is still circulating because it fits the shift: more inventory moving toward event contracts.
Stay current. These firms are vendors, not a home. Do not go all-in on one name or one idea. You do not get to see the next rule change before it hits.
The opportunity in this space is still real. The edge is how you stay in the game - one account, one plan, eyes open.
Lounge
TDI Lounge is in fit-out.
It will run like a desk: daily note, mindset, the firm rule you will not break.
No signals.
I will update you when Floor opens. Write today’s levels. I will see you in the session.
The market intelligence most desks are missing.
CEOs, politicians, regulators, and analysts talk for hours on podcasts every day.
Particle actively transcribes 125,000+ podcasts and turns them into structured data, available over REST API or MCP, searchable within minutes of airing.
Track a company or person by name, with each mention cited to the exact quote, speaker, and timestamp, or search for commentary on a thesis or sector with semantic search.
Particle is built by former Twitter and Tesla engineers, using an AI-native transcription pipeline that delivers high accuracy and extensive data enrichment.
What’s your trading story?
Until next time,
Steve B
Founder, The Daily Impulse
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