2025 has been anything but quiet for the markets.
From record-breaking gold prices to sudden tariff headlines and sharp moves driven by politics, prop traders have had to stay flexible and disciplined. In a recent podcast, Two funded traders -Rutger Lokin from TTA and Nicola Fattoruso, shared how they navigated one of the most eventful trading years in recent memory.
Gold and the debasement trade
Gold and silver reaching new highs did not happen in isolation. Expectations around interest rate cuts, ongoing geopolitical tensions, and capital flowing out of the US dollar all played a role. Gold remained a key hedge as prop traders looked for protection against currency debasement and uncertainty.
At the same time, silver benefited not only as a precious metal, but also as an industrial one, driven by demand from green energy and solar production.
Oil under pressure
Oil told a very different story. Despite geopolitical flare-ups, supply remained high and growth expectations weakened after tariff announcements. Combined with political pressure to keep energy prices low, many prop traders stayed cautious on crude, leaning toward a bearish bias.
Trading in a headline-driven market
One of the biggest lessons from 2025 was how quickly sentiment can change. A single tweet or policy comment was often enough to flip markets from risk-on to risk-off. As a result, prop traders reduced position sizes, focused more on hedging, and relied heavily on fundamentals rather than noise.
Instead of trying to predict every move, patience and preparation became the real edge.
2026 is right around the corner
With potential rate cuts, changes at the Federal Reserve, and ongoing political uncertainty, the message was clear - prop traders should stay adaptable, focus on data, and avoid emotional decisions.
Markets will keep moving. The job is to be ready when they do.
Watch the full podcast episode below
