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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)

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  #991 (permalink)
salt lake utah
 
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SawDr View Post
They cited volatility as the reason in an email dated March 27th. No explanation as to why the max loss was not changed.

I have to agree with you one this case.

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  #992 (permalink)
Chicago, IL
 
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SawDr View Post
Topstep recently increased their profit target requirements in combines and FTP (a 33% increase in the 30k accounts) due to the increase in market volatility. Volatility goes both ways - why increase profit targets and not max loss?
I know you can do whatever you want since you own the business, but this just doesn't make sense.


rintin2x View Post
Is it written in their site because of volatility? I was checking them out too lately and I noticed the profit target moved from 1.5k to 2k. Not sure about other account?


SawDr View Post
They cited volatility as the reason in an email dated March 27th. No explanation as to why the max loss was not changed.


rintin2x View Post
I have to agree with you one this case.

Thanks @SawDr and @rintin2x for the questions. Our goal is always to make the Trading Combine a fair test of a traders' ability to consistently profit. Consistently is the key.

As you may know, in January, we moved our profit targets lower from where they were in 2017 - a response to the market environment at that time. (Basically, markets were like watching paint dry.) Even though we lowered our profit targets, we did not tighten the Trailing Maximum Drawdown in the accounts.

Then February happened. The VIX tripled. Volatility was back - and in a big way. Instead of being reactionary, we waited to see if it was temporary. Since then, the VIX has come down, but is still double where it was when we lowered our profit targets.

(Just today, there's been a 30 point range in the S&P 500. That's a $1,500 move on a 1-lot.)

With that volatility, we thought it best to move the program back to where it was in 2017 and increase the $30K Trading Combine profit target by $500. Since the Trailing Maximum Drawdown didn't change with the January adjustment, we didn't adjust it on this side either.

We take feedback very seriously and have adjusted our program many times over the years as the result of trader feedback. As the market environment changes, we'll continue to tweak the program to make sure that we can identify and find profitable traders to fund with our capital.

We hope this provides more clarity, trade well.

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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  #993 (permalink)
salt lake utah
 
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@TopstepTrader always thought $1.5k profit target for 30k account, might havenít traded that long to know the history, thanks for writing back.

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  #994 (permalink)
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rintin2x View Post
@TopstepTrader always thought $1.5k profit target for 30k account, might havenít traded that long to know the history, thanks for writing back.

Can't say I remember a $2k target on the 30k account

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  #995 (permalink)
Washington, DC
 
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With that volatility, we thought it best to move the program back to where it was in 2017 and increase the $30K Trading Combine profit target by $500. Since the Trailing Maximum Drawdown didn't change with the January adjustment, we didn't adjust it on this side either.

So you are saying that in 2017 the 30k combine target was $2000? I'm not seeing that in my records...looks like it was always $1500 until now.

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  #996 (permalink)
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SawDr View Post
With that volatility, we thought it best to move the program back to where it was in 2017 and increase the $30K Trading Combine profit target by $500. Since the Trailing Maximum Drawdown didn't change with the January adjustment, we didn't adjust it on this side either.

So you are saying that in 2017 the 30k combine target was $2000? I'm not seeing that in my records...looks like it was always $1500 until now.

Hi @SawDr. Thanks for the question. The larger accounts were moved back to where they were in 2017, and the $30k account was increased by $500 as we mentioned in our last post.

Please let us know if we can answer any other questions.

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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  #997 (permalink)
hong kong
 
 
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Will sign up the account soon.. it seems legit..


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  #998 (permalink)
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  #999 (permalink)
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  #1000 (permalink)
Antwerp
 
 
Posts: 454 since Jun 2016


How are things going with the coaches combine?
Seems like the last trade was a few months ago and everything has been silent since then.

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