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TopstepTrader's Michael Patak (Founder) - Ask Me Anything (AMA)
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TopstepTrader's Michael Patak (Founder) - Ask Me Anything (AMA)

  #91 (permalink)
Trading for Profit
Pittsburgh, Pennsylvania
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: ES
 
Pedro40's Avatar
 
Posts: 534 since Jan 2013
Thanks: 27 given, 354 received

Changing profitable Combine to smaller one to save time???

The answer is probably no, but I will ask it anyway: Is there a way to finish a bigger profitable combine earlier and apply its numbers to a smaller combine? The point would be not wasting time, if the trader realized he doesn't want/need so many contracts traded.

For example I sign up for the 150K/20 days Combine and after 10 days, I made 5.1K profits, while never trading more than 5 cars at any given time. Then I realize that I am comfortable with trading max. 5 cars, so with these stats and profit, I would have passed the 50K/10days combine (or even the longer 50K combine). So can I apply/ask to get it done instead of trading 10 more days and then restarting (assuming I didn't make the 150K profit target) and doing another 10 days in the 50K/10 days? That would be 20 days wasted, just to prove something what I have already done????

P.S.: I do know someone who is in this scenario, so it is not entirely hypothetical....

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  #92 (permalink)
 Vendor: www.topsteptrader.com 
Chicago, IL
 
Futures Experience: Advanced
Platform: NinjaTrader, CTS (T4), Si
Favorite Futures: ALL- Futures, Forex, Equities
 
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Posts: 220 since Feb 2013
Thanks: 46 given, 649 received


Pedro40 View Post
The answer is probably no, but I will ask it anyway: Is there a way to finish a bigger profitable combine earlier and apply its numbers to a smaller combine? The point would be not wasting time, if the trader realized he doesn't want/need so many contracts traded.

For example I sign up for the 150K/20 days Combine and after 10 days, I made 5.1K profits, while never trading more than 5 cars at any given time. Then I realize that I am comfortable with trading max. 5 cars, so with these stats and profit, I would have passed the 50K/10days combine (or even the longer 50K combine). So can I apply/ask to get it done instead of trading 10 more days and then restarting (assuming I didn't make the 150K profit target) and doing another 10 days in the 50K/10 days? That would be 20 days wasted, just to prove something what I have already done????

P.S.: I do know someone who is in this scenario, so it is not entirely hypothetical....

Pedro- TopstepTrader does not evaluate traders like you mention. The scouts evaluate based on the Combine you are in and the objective of that Combine. Also try and look at the Combine as a development tool (if used properly). It will not be a waste of your time.

I hope that helps. Great question.

mp

If you have any questions about our products or services at TopstepTrader, please send me a Private Message or use the FIO "Ask Me Anything" thread.
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  #93 (permalink)
Trading Apprentice
Manchester, NH
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: Currency Futures
 
Posts: 20 since Jan 2013
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Live Trader Preparation


Hello,

I'm trying to do some research about TopStepTrader Live Trader Preparation period. My understanding is that after completing successfully a Combine, a trader must go through a Live Trader Preparation period before he or she is allow to trade a full Live trading account. This apply to all traders or some traders? If applies to some traders, then is this related to the metrics in the Combine? What will be the cause to place a trader on the Live Trader Preparation period?

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  #94 (permalink)
 Vendor: www.topsteptrader.com 
Chicago, IL
 
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vercetti View Post
Hello,

I'm trying to do some research about TopStepTrader Live Trader Preparation period. My understanding is that after completing successfully a Combine, a trader must go through a Live Trader Preparation period before he or she is allow to trade a full Live trading account. This apply to all traders or some traders? If applies to some traders, then is this related to the metrics in the Combine? What will be the cause to place a trader on the Live Trader Preparation period?

Vercetti- This is a case by case situation. There are times where the scouts see things in a traders trade report or their style of trading that they want to discuss with them. They will call up this trader and discuss the Live Trader Preparation. Typically they will not have a profit target or may have a profit target cut in half, depending on the decision of the scout team vote. Performance metrics will be dropped and the time it takes to complete the objective will be dropped.

Basically we are looking to see if their trading performance was a fluke and if consistency and discipline are still intact. Typically it is 50/50 if a trader is selected for live trader preparation or straight to live.

Hope that helps. Great question.

mp

If you have any questions about our products or services at TopstepTrader, please send me a Private Message or use the FIO "Ask Me Anything" thread.
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  #95 (permalink)
Elite Member
Colombia
 
Futures Experience: Intermediate
Platform: NinjaTrader, MarketDelta
Favorite Futures: Eurex
 
Posts: 17 since Mar 2013
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TopstepTrader View Post
Pedro40- Thanks for the help.

daytrader07- We actually have about 28 active funded traders. We have funded over 150+ in the last two years. We are now averaging at least 2 traders a week that are coming up to the team of funded traders (live traders).

Hope that helps.

mp

Hi Michael,

Apologies for referring to an older post you made back in February. Why is there such a big turnaround in active traders over the last two years? Maybe a better question would be, why do active traders leave? Do they get job offers from other firms or decide to trade on their own after they made some profits? I don't have any experience trading with a firm so this might be the norm.

Thanks

Peter

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  #96 (permalink)
 Vendor: www.topsteptrader.com 
Chicago, IL
 
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PK007 View Post
Hi Michael,

Apologies for referring to an older post you made back in February. Why is there such a big turnaround in active traders over the last two years? Maybe a better question would be, why do active traders leave? Do they get job offers from other firms or decide to trade on their own after they made some profits? I don't have any experience trading with a firm so this might be the norm.

Thanks

Peter

PK007- This is a common number with firms. Many prop groups have hired on hundreds of traders that last days, weeks, months and sometimes a year or more. Traders come and go as this is a profession that is based strictly on performance. Some traders with good talent lose their head or go through other personal issues that take them out of staying in tune with the market and thus directly affects their performance.

Let me know if that helps.

mp

If you have any questions about our products or services at TopstepTrader, please send me a Private Message or use the FIO "Ask Me Anything" thread.
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  #97 (permalink)
Elite Member
prague, czech republic
 
Futures Experience: Intermediate
Platform: NT7, MT4
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Favorite Futures: DAX, Gold, Euro
 
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Posts: 1,516 since Feb 2013
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Looks like TST website does not allow anymore to see other trader's track record with badges. It was still available yesterday, I believe. I can see my own track record no problem.

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  #98 (permalink)
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xelaar View Post
Looks like TST website does not allow anymore to see other trader's track record with badges. It was still available yesterday, I believe. I can see my own track record no problem.


xelaar- We have always only allowed a trader to see their own track record as trading is your own personal journey. As an fyi, many traders are using the trade reports to build their own track record for certain products or trading strategies that they can then use for other opportunities if their performance is not meeting the objective TST is looking for.

mp

If you have any questions about our products or services at TopstepTrader, please send me a Private Message or use the FIO "Ask Me Anything" thread.
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  #99 (permalink)
Elite Member
prague, czech republic
 
Futures Experience: Intermediate
Platform: NT7, MT4
Broker/Data: LMAX
Favorite Futures: DAX, Gold, Euro
 
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TopstepTrader View Post
xelaar- We have always only allowed a trader to see their own track record as trading is your own personal journey. As an fyi, many traders are using the trade reports to build their own track record for certain products or trading strategies that they can then use for other opportunities if their performance is not meeting the objective TST is looking for.

mp

They were perfectly visible until yesterday, and I can still can see some other's profile track record. I am not talking about trade reports, only these badges like 1k day and 5 days win streak.

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  #100 (permalink)
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Chicago, IL
 
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Favorite Futures: ALL- Futures, Forex, Equities
 
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xelaar View Post
They were perfectly visible until yesterday, and I can still can see some other's profile track record. I am not talking about trade reports, only these badges like 1k day and 5 days win streak.

Xelaar- I was informed the achievement badges are working. Some recruits may not have achieved any badges yet.

mp

If you have any questions about our products or services at TopstepTrader, please send me a Private Message or use the FIO "Ask Me Anything" thread.
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