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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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  #121 (permalink)
Chicago, IL
 
Experience: Advanced
Platform: TSTrader, NinjaTrader...
Trading: ALL- Futures, Forex, Equities
 
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Vincent Vega View Post
Is there any estimated date that NinjaTrader will be available for the combine?


Vincent Vega- The update I have received from our Ninja committee as of last week was a conservative date of mid July. TST will make an announcement once this platform is available.

mp

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  #122 (permalink)
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PK007 View Post
Hi Michael,
If a trader gets funded with a $50k account and he/she makes good progress over a period of time, i.e. grows the account, will you consider adding to the funded account? For example bumping it up to a $150k account? Or must the trader complete a new $150k combine to get access to more funding?

PK007- When a trader starts building their account all things become negotiable. You will NOT have to complete a larger Combine to trade bigger. Look at yourself as a professional athlete. When you start putting up the numbers and performing, the organization will do what it can to help that athlete to continue to perform at the top of their game. We do the same with traders.

mp

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  #123 (permalink)
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vercetti View Post
Hi, missed the memo on Sierracharts been available for the Combine. I was trying to find this information on your website but no luck. When you mean using Sierrcharts, do you mean using Sierracharts DOM or Trading from the charts? Please direct me to the location where I can find Sierracharts as an option for the Combine on your website.

Thank you

Vercetti- Sierra is available and you can trade from both as long as you are connected to the CTS backend. Our tech team will be adding Sierra information on our site very shortly.

mp

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  #124 (permalink)
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josh View Post
And you don't even need to let them know; I used SC with TST from day 1 and never had to inform them of this.


Josh- You are correct. You should not have to contact our support as this should be connected at our end already. You would need your own Sierra subscription.

mp

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TopstepTrader View Post
Vercetti- Sierra is available and you can trade from both as long as you are connected to the CTS backend. Our tech team will be adding Sierra information on our site very shortly.

mp

I look forward to it.

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  #126 (permalink)
calgary canada
 
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How does TST come up with the daily loss limit and max draw down? If a trader built his/her account up to 250k what would the limits be then?

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  #127 (permalink)
Belgium
 
Experience: Intermediate
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Hello Michael,

I understand that there are a number of issues with regards to trading EUREX products in the combine and within any LTP. TST provides support etc and you have people available during market hours.

However, working US market hours is certainly not for everyone. It plays havoc with family life and sleep patterns if you are living in Europe or Asia.

Question 1:
Is TST setup to allow trading of EUREX products within the normal practice accounts ? I know that you don't have Squawk etc available but there still must be a community of European traders to network with during this time ? I understand the other restrictions of practice accounts (no combine review ..etc), however .. a "Fake Combine" is very useful.

Question 2:
Do you see any demand for expanding the services for full European or Asian coverage ?

best regards

Podski

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  #128 (permalink)
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daytrader07 View Post
How does TST come up with the daily loss limit and max draw down? If a trader built his/her account up to 250k what would the limits be then?

Interpolation. So the numbers would be either 2.5 times of the 100K Combine's or 5 times the 50K Combine's numbers...

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  #129 (permalink)
wa/ usa
 
Experience: Intermediate
Platform: schwab, metatrader, OEC,T4,TDameritrade
Trading: CL ES 6C 6E
 
Posts: 260 since Oct 2012
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(mods feel free to move this to T4 thread if you feel it belongs there)


Hi MP

TST requires traders to use stops and prefers Auto OCO orders. How come T4 wont let you add to a position when your max position allowed is 5 and you have 2 short already and want to add 2 more ? Here is a screen shot. How ever you can cancel the Auto OCO orders and enter the trade as desired. So in a way you are promoting using Auto OCO but Auto OCO orders dont work to the traders benefit. I have used OEC extensively and it calculates the net position based on type of order. If its an OCO order one side is going to get filled whether its target or stop. So, essentially you can only trade 2 lot if you are using Auto OCO. This is also a warning to future TST combine takers.
You can put on 3,4,5 lot when you take the trade but if you want to add for whatever reason you have to cancel your stops to get your additional trade in.





However at the urging of another member I tried same thing with the practise account where it works as desired



Took 2 lots then added 11 for a total of 13 with Auto OCO orders so a total of 26 Auto OCO sitting on DOM and still allows you to add the remaining 2 of max 15 for deomo account.

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  #130 (permalink)
San Francisco
 
Experience: Intermediate
Platform: Multicharts, Investor R/T, RTrader
 
Posts: 13 since Sep 2010
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Michael,

Thanks for participating in this informative thread.

Two questions, the first is both to you and everyone:

- I'm not well-versed in prop trading compensation, but paying traders a 60-80% share of profits seems unrealistic. Given that hedge funds are criticized for taking a 2% mgmt fee and 20% share of profits, the share paid by TST seems like an unsustainable arrangement for the investor and too good to be true for the trader. Am I missing something here?

- If someone can trade for only the first 90 minutes or two hours of the regular trading session (due to having a day job), but meets the combine requirements, would that person be accepted as a funded trader?

Thanks again -

TideRip

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