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Anybody heard of topsteptrader (review)
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Anybody heard of topsteptrader (review)

  #91 (permalink)
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Stay far away IMO

I don't know a single person whom has passed the combine. I think they make it that way just to collect fees for the hope of being a prop trader. I think they go by Patak trading as well.

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  #92 (permalink)
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dandxg View Post
I don't know a single person whom has passed the combine. I think they make it that way just to collect fees for the hope of being a prop trader. I think they go by Patak trading as well.

The founder is Michael Patak, so yes Patak is involved

Online Futures Trading,online future trading,online future traders

My understanding is that the funding for TST traders that pass the Combine comes from the Patak partners (equity partners).

I will try and remember to ask how many people pass the Combine, but I would just guess it is very similar to the number of people that are overall successful with trading (a very small number).

I'm not coming to their defense or anything about charging fees, but I hope you don't expect them to work for free?

Whether or not it is valuable to you, naturally is only something each individual trader can determine for themselves.

How many times did you take the Combine yourself? I assume you did not pass, do you think that is because of TST or was it because of your trading performance during the Combine?

Mike

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  #93 (permalink)
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I know it was a dud. But that TDKR confusing chant gets into my head "This is gotham! gotham! This is gotham! gotham! .. " ; Where the old guy who looks like Michael Caine askance in that misleading trailer says whatever the chant really was, that it meant "rise.." ;

So how many rises past the almost impossible challenge of the Combine and becomes CP prop firm trader for TST


(just some TDKR fun. I like their open guest trading rooms and TST looks legit to me. At least far much more so than those "prop firms" that advertise trading jobs on craigslist!)


Last edited by Cloudy; August 20th, 2012 at 07:07 PM.
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  #94 (permalink)
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Big Mike View Post
The founder is Michael Patak, so yes Patak is involved

Online Futures Trading,online future trading,online future traders

My understanding is that the funding for TST traders that pass the Combine comes from the Patak partners (equity partners).

I will try and remember to ask how many people pass the Combine, but I would just guess it is very similar to the number of people that are overall successful with trading (a very small number).

I'm not coming to their defense or anything about charging fees, but I hope you don't expect them to work for free?

Whether or not it is valuable to you, naturally is only something each individual trader can determine for themselves.

How many times did you take the Combine yourself? I assume you did not pass, do you think that is because of TST or was it because of your trading performance during the Combine?

Mike

I didn't bother with it at all Mike after I saw, what appeared to be, legit complaints about them on ET. I was some time ago. I don't think they should work for free, but I have a hard time believing that the cost they charge was just for admin and data storage. I don't buy that one. It smelled about as logical as SMB charging people 10k for training and then when you have a couple of losing days they boot you and pocket your cash for crap training.

It didn't pass the smell test IMO. Hey if they are legit than more power to them.

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  #95 (permalink)
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Big Mike View Post
The founder is Michael Patak, so yes Patak is involved

Online Futures Trading,online future trading,online future traders

My understanding is that the funding for TST traders that pass the Combine comes from the Patak partners (equity partners).

I will try and remember to ask how many people pass the Combine, but I would just guess it is very similar to the number of people that are overall successful with trading (a very small number).

I'm not coming to their defense or anything about charging fees, but I hope you don't expect them to work for free?

Whether or not it is valuable to you, naturally is only something each individual trader can determine for themselves.

How many times did you take the Combine yourself? I assume you did not pass, do you think that is because of TST or was it because of your trading performance during the Combine?

Mike

Mike if you, or anyone else is interested, here is the thread on ET I reference. Forums - Patak Trading

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  #96 (permalink)
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dandxg View Post
Mike if you, or anyone else is interested, here is the thread on ET I reference. Forums - Patak Trading

Thx. I read through the thread briefly, it seems to confirm that TST is a serious prop firm. Everyone should do their own research and due diligence of course, but I believe the thread puts TST in good light from the experienced traders that commented on it. Whether or not a prop firm is a good fit for you, or whether or not their combines make sense for you, is something only you can answer...

Mike

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2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
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4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
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Last edited by Big Mike; August 20th, 2012 at 11:21 PM.
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  #97 (permalink)
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Big Mike View Post
Thx. I read through the thread briefly, it seems to confirm that TST is a serious prop firm. Everyone should do their own research and due diligence of course, but I believe the thread puts TST in good light from the experienced traders that commented on it. Whether or not a prop firm is a good fit for you, or whether or not their combines make sense for you, is something only you can answer...

Mike

I read the first 10-11 pages and came away with the opposite opinion. As you said, everyone should do their own due dilligence, but just wanted to share my thoughts. Thanks for posting that thread dandxg.

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  #98 (permalink)
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I read the first 10-11 pages and came away with the opposite opinion. As you said, everyone should do their own due dilligence, but just wanted to share my thoughts. Thanks for posting that thread dandxg.

hehe, I read the last 10-15 pages.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #99 (permalink)
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dandxg View Post

...

I don't think they should work for free, but I have a hard time believing that the cost they charge was just for admin and data storage. I don't buy that one.

...


I have yet to read the ET thread on TST/Patak, but my current point of view is that it is no problem to charge for the combines. I don't think either that the fee is for admin or data storage or whatever expenses they might have. I can not believe that it costs them that much to have these sim accounts running and checked as most of it must be automated.

However, that is not the point (even if they say so). IMO it's just that they are selling you a dream... the chance to become a funded prop trader. And people are willing to pay for that chance. There is demand for that and they meet the demand. It's just an additional income stream for them as I see it. Their requirements for a funded trader are pretty strict, so it's natural that most of the people don't pass the test.

The only thing that bothers me is that they say that even if all the formal requirements are met to become a funded trader, the scout team's review is still subjective and you can be asked to repeat the evaluation period. I hope that this is not designed as a loophole to screw people...

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  #100 (permalink)
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karoshiman View Post
The only thing that bothers me is that they say that even if all the formal requirements are met to become a funded trader, the scout team's review is still subjective and you can be asked to repeat the evaluation period. I hope that this is not designed as a loophole to screw people...

i have not taken the combine but from what i gather if you get to the point where you could become a funded trader and the scout team does review you, you would have to have met at least 2/3 of the goals. if they feel you need more time you still fall under their rules that state that you could have your money rolled over to another combine or refunded..

dont believe anything you hear and only half of what you see

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