The FTM Top 10 Traders of 2023

In what many considered the upset of the decade, Darren O'Neill — an independent retail trader operating from Carlow, Ireland — claimed the top spot in the world's most prestigious independently audited trading competition. O'Neill's approach is deceptively straightforward: a macro-driven directional strategy that combines top-down economic analysis with precise technical entry points across forex and futures markets.

What distinguishes O'Neill from the field isn't a single spectacular trade — it's the relentless consistency. His risk management framework, which he describes as 'position sizing first, thesis second,' kept drawdowns contained even during his most aggressive positioning. In a competition that rewards absolute returns, O'Neill managed the rare feat of delivering outsized gains without the catastrophic drawdowns that typically accompany them.

His background defies the typical champion profile. No Ivy League degree, no stint at a bulge bracket bank, no proprietary algorithms running on co-located servers. O'Neill is self-taught, independently financed, and operates entirely alone. That a solo trader from rural Ireland can compete with — and defeat — the world's best is either an anomaly or a sign that the trading industry's barriers to entry have fundamentally shifted. We believe it's the latter.

Andrea Unger needs little introduction to readers of this publication. The four-time world champion continues to deliver results that would be impressive for a trader half his age, combining systematic strategy development with the kind of market intuition that only comes from decades of experience.

Unger's approach is built on a foundation of rigorous backtesting and statistical analysis, but what separates him from other systematic traders is his willingness to override his models when market conditions shift in ways his algorithms haven't encountered. This hybrid discretionary-systematic approach has given him an edge that pure quant shops struggle to replicate.

At 58, Unger shows no signs of slowing down. His academy has produced several notable traders in their own right, and his commitment to education alongside active trading speaks to a philosophy that the best way to sharpen your own edge is to teach others.

Rob Hoffman's competition record reads like a highlight reel: multiple international trading championship titles across different asset classes and timeframes. His proprietary Inventory Retracement Bar strategy has become one of the most studied methodologies in competitive trading circles.

What makes Hoffman remarkable isn't just his results — it's his preparation. Hoffman is known for spending more time on pre-market analysis than most traders spend actually trading. His morning routine, which begins at 4:30 AM regardless of which market he's focused on, involves a systematic review of overnight developments, key levels, and potential catalysts.

Hoffman's philosophy centres on what he calls 'being on the right side of the institutional order flow.' Rather than trying to predict where markets will go, he focuses on identifying where large institutional orders are likely to execute and positioning accordingly.

Mark Minervini's Specific Entry Point Analysis (SEPA) methodology has influenced a generation of momentum traders. His back-to-back US Investing Championship wins cemented his status as one of the premier stock traders of his generation.

Minervini's approach combines strict technical criteria with a risk management framework that limits losses to 7-8% on any individual position. What makes his system distinctive is the emphasis on what he calls 'trade selection' — the idea that most of your edge comes not from when you enter or exit, but from which stocks you choose to trade in the first place.

In 2023, Minervini's focus on high-quality growth names with institutional sponsorship proved particularly prescient as the market's gains were concentrated in a narrow group of AI-related technology stocks. His ability to identify and ride these trends while maintaining strict risk controls exemplifies why he remains one of the most respected active traders.

Linda Raschke is a living legend of the trading world. Featured in Jack Schwager's New Market Wizards, she has been actively trading since 1981 — a span that encompasses multiple market cycles, technological revolutions, and fundamental shifts in market structure.

Raschke's trading style is built on short-term pattern recognition in futures markets, particularly the S&P 500 and crude oil. Her ability to read price action in real time, identify institutional footprints, and execute with precision has kept her relevant across four decades of market evolution.

What makes Raschke particularly valuable to the trading community is her willingness to share her knowledge. Her mentorship programmes have produced numerous successful traders, and her emphasis on discipline, routine, and emotional control provides a counterweight to the industry's obsession with entries and indicators.

Chuck Hughes' journey from commercial airline pilot to champion options trader is one of the most compelling narratives in competitive trading. His methodical, safety-first approach mirrors the discipline of aviation and has produced remarkably consistent returns.

Hughes specialises in options income strategies that prioritise high-probability setups with defined risk. His approach is designed to generate steady returns rather than home runs — a philosophy that has proven surprisingly effective in competitive environments where consistency compounds.

In 2023, Hughes demonstrated particular skill in navigating the elevated volatility environment, using his options strategies to generate income while maintaining a portfolio that benefited from the broader market's directional moves.

Stefano Serafini brings a physicist's rigour to financial markets. His background in statistical mechanics provides a framework for understanding market dynamics that few other traders can match.

Serafini's approach treats markets as complex adaptive systems rather than predictable mechanisms. He develops models that identify statistical edges across multiple timeframes and instruments, then deploys capital when the probability distribution is skewed in his favour.

What's notable about Serafini's 2023 performance is that it was achieved across multiple asset classes simultaneously — a testament to the robustness of his statistical approach and his ability to identify regime changes quickly enough to adapt his models.

Tom Basso earned his nickname 'Mr. Serenity' from Jack Schwager, and it perfectly captures his approach to both trading and life. His trend-following systems have delivered positive returns for more than three decades — a track record that few can match.

Basso's philosophy is built on the idea that the market will tell you what to do if you listen. His systems are designed to capture large directional moves while limiting drawdowns through systematic position sizing and diversification across uncorrelated markets.

In retirement from managing external capital, Basso continues to trade his own accounts and mentor aspiring traders. His emphasis on enjoying the process rather than obsessing over outcomes remains one of the most valuable — and most ignored — pieces of wisdom in trading.

Michael Cook doesn't have a Twitter following or a YouTube channel. What he does have is one of the most impressive privately audited track records in futures trading. Cook's under-the-radar consistency makes him one of the most underappreciated traders in the competitive circuit.

Cook's approach to futures trading is fundamentally discretionary, built on deep market understanding and pattern recognition developed over two decades of screen time. He trades a focused set of futures contracts — primarily equity indices and energies — with a style that emphasises waiting for high-probability setups.

His risk management is notably conservative for a competitive trader. Cook typically risks less than 1% of equity per trade, relying on high win rates and favourable risk-reward ratios rather than leverage to generate his returns.

Larry Williams has been trading since before most of today's market participants were born. His 1987 World Cup Championship of Futures Trading performance — turning $10,000 into over $1.1 million in a single year — remains one of the most legendary performances in competition history.

Now in his eighties, Williams continues to trade actively and develop new analytical frameworks. His pioneering work on the Commitment of Traders report, seasonal patterns, and sentiment indicators has become standard curriculum in trader education.

Williams' inclusion in our 2023 rankings reflects not just historical achievement but ongoing relevance. His market commentary and analysis continue to influence traders globally, and his competitive results, while no longer at championship level, remain impressive for any age.