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Webinar: TopstepTrader on Discipline/Psychology (Michael Patak and John Hoagland)
It is my pleasure to bring back TopstepTrader for another webinar on Tuesday, August 21st @ 4:30 PM Eastern US. The topic is Discipline and Trading Psychology. Michael Patak (Founder of Topstep Trader) will be joining John Hoagland (Senior Scout).
The preliminary topics for this webinar are:
- The Desire to Change
- See Discipline from a new light
- Common denominator in trading
- Market vs your invisible weakness
If you have not already watched the last TST webinar, please do so. It was excellent!
Hey Mike, just in case I don't get a chance to ask this during the webinar, could you please ask Michael why he uses T4 trading platform that everyone hates. I think they will see more participation in their programs if they moved to something more user friendly, like ninjatrader. I hear T4 platform sucks to say the least since you cannot do multiple targets and all of that good stuff.
First of all, thank you for providing this webinar!
Unfortunately, it's very likely that I can not participate in this, but I'm looking forward to viewing the recording.
Anyway, if there is a chance, could you please ask two questions about the programs of TST?
My questions are:
1. One of their scouting requirements is that traders "trade all required days of the Combine". Does that mean, that if one is a swing trader and gets only, for instance, signals on 6 of the 10 combine days and meets the profit target with that, does he have to trade on the remaining 4 days as well in order to meet the aforementioned requirement? If so, would it be okay to quickly jump in and out just to get fills for these days (which obviously would not be part of the swing trading plan)?
2. During the combines it is required that positions are closed before the electronic close. These can be reopened if trading is resumed. Is this rule also a requirement for funded traders? I guess not, but I thought it would be good to clarify.
I've listened to the first webinar of TST on futures.io (formerly BMT) but did not hear anything related to the above questions.
For your first question the answer would be yes. Yes, you are allowed to do so and a trading day counts at the time you enter the market on any of your traded products. But you have to be carefull, as you have to pass the statistics, a short profitable trade may not change your account balance but have an impact on your statistics.
For the second question, some of the live traders have the right to leave positions opened through the clearing, but it is as an exception, it can be done also only in case that this live trader has already made some profit comparing to the starting balance of his account, but it is really not common in TST, even for the live traders.
I hope I can be of any help, if you have questions do not hesitate to contact me!
