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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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  #1201 (permalink)
hoshigakiii
Warsaw
 
 
Posts: 2 since Feb 2021
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How about agrement, after passing step 2?
1. What does "Grant and Relese" section means, i dont understand, for example:

the perpetual right to use name, portait, picture and more...

This means you can have rights to my image and i wont be able to do anything about it? Anytime you want you can use my data, photo and everything to advertise or other purposes?


2. Next thing is agreement to not take any legal actions against TST, isint it weird? So i wont have right to take you to court if something is wrong?

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  #1202 (permalink)
 Topstep  Topstep is an official Site Sponsor
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bobwest View Post
I agree with the last three posts. I do understand that SC is not liking Rithmic, or CQG either, and from what they have written over time about technical issues they have had with them I know they have their reasons. But the world will beat a path to their door if they have something better, not if they just withdraw in a huff, as they have been inclined to do....

"Build a better mousetrap, and the world will beat a path to your door" -- attributed to Emerson, apparently wrongly: https://en.wikipedia.org/wiki/Build_a_better_mousetrap,_and_the_world_will_beat_a_path_to_your_door.

Whether their own data and order routing solution is a better mousetrap or not, the world hasn't beaten that path yet. I hope they can be more constructive, because their platform is very good -- but if users can't use it, there's a problem there.

---------------------

On a more positive note, I went to the link posted by @geistflow and trudged through the many posts in the thread until the last one, which I hope is going to be the future:

"Rithmic is actively working on new integration for Sierra Chart using the DTC protocol.

We heard from them as soon as yesterday in regards to technical questions." Full thread is here: https://www.sierrachart.com/SupportBoard.php?ThreadID=55799

(Last date is 1/6/21, unfortunately not that recent. There's nothing more as of now.)

The "DTC protocol" is something invented and pushed by SC, and apparently not widely adopted in the industry, that SC says will fix the issues they have had with Rithmic and others, and open the door to their being willing to support connecting to them again.

We can hope that some industry cooperation takes place and this platform can use these other data feeds again.

@Topstep, please reply if you are aware of this and if you know anything more, and/or if you are at least monitoring the progress. Not having Sierra Chart is losing you potential customers... not your fault, but it's losing them regardless.

Bob.

The rumors are true - Sierra Chart is working with Rithmic. We have confirmed with both SC and Rithmic. Sierra is confident that the stability/performance will be much better than the previous setup, and Rithmic confirmed the timing - May at the earliest. We are monitoring and will likely re-add once they are done with their work, and we have had the opportunity to test the new setup. It probably will not be re-added until H2 2021.

Thank you!

If you have any questions about our products or services at Topstep (formerly TopstepTrader), please send me a Private Message or use the FIO "Ask Me Anything" thread.
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  #1203 (permalink)
 bobwest 
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
 
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Topstep View Post
The rumors are true - Sierra Chart is working with Rithmic. We have confirmed with both SC and Rithmic. Sierra is confident that the stability/performance will be much better than the previous setup, and Rithmic confirmed the timing - May at the earliest. We are monitoring and will likely re-add once they are done with their work, and we have had the opportunity to test the new setup. It probably will not be re-added until H2 2021.

Thank you!

This is extremely excellent news, not only for users of the TS Combine, but for the entire industry, if in fact SC and Rithmic can work out a solution that lets SC be used with one of the major data/trade routing companies, after the previous falling out.

If is good for everyone if the pieces of the futures industry's trading system can operate together easily.

Thanks for the update.

Bob.

When one door closes, another opens.
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  #1204 (permalink)
 Topstep  Topstep is an official Site Sponsor
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hoshigakiii View Post
How about agrement, after passing step 2?
1. What does "Grant and Relese" section means, i dont understand, for example:

the perpetual right to use name, portait, picture and more...

This means you can have rights to my image and i wont be able to do anything about it? Anytime you want you can use my data, photo and everything to advertise or other purposes?


2. Next thing is agreement to not take any legal actions against TST, isint it weird? So i wont have right to take you to court if something is wrong?

Hi Hoshigakiii,

Thanks for your questions. Hoping I can provide some clarity -

1. The Grant and Release is completely voluntary. You do not have to give consent. If you do give consent and provide your picture, we may use it on social media, emails, etc.

2. There is nothing in the agreement that states you may not take legal action against Topstep. If there are any disputes between either party (Topstep or the trader), as it relates to the agreement, it shall be settled through arbitration.

"Arbitration. Any disagreement, claim, or controversy between the Parties arising from this Agreement, including questions regarding the scope and applicability of this Section 10, shall be settled before the dispute resolution program at any of the CME Group, the National Futures Association (NFA), or the Commodity Futures Trading Commission (CFTC), as applicable (an “Exchange Arbitration”). In the event no Exchange Arbitration is applicable, then the Parties agree to settle any disputes or controversies before the American Arbitration Association (“AAA”) in Chicago, Illinois under the AAA’s then current Commercial Arbitration Rules. Judgment upon any award may be entered in any court of competent jurisdiction. Notwithstanding this Section 10, TopstepFunded may seek injunctive relief, in accordance with Section 5, in any competent court having jurisdiction."

Let me know if you have any other questions.

Thank you!

If you have any questions about our products or services at Topstep (formerly TopstepTrader), please send me a Private Message or use the FIO "Ask Me Anything" thread.
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  #1205 (permalink)
Markus
Frankfurt am Main
 
 
Posts: 27 since May 2010
Thanks: 2 given, 17 received

How about the promise to add a large swing micro combine (30 lots)?
In a recent video you talked about it

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  #1206 (permalink)
hoshigakiii
Warsaw
 
 
Posts: 2 since Feb 2021
Thanks: 0 given, 1 received


Topstep View Post
Hi Hoshigakiii,

Thanks for your questions. Hoping I can provide some clarity -

1. The Grant and Release is completely voluntary. You do not have to give consent. If you do give consent and provide your picture, we may use it on social media, emails, etc.

2. There is nothing in the agreement that states you may not take legal action against Topstep. If there are any disputes between either party (Topstep or the trader), as it relates to the agreement, it shall be settled through arbitration.

"Arbitration. Any disagreement, claim, or controversy between the Parties arising from this Agreement, including questions regarding the scope and applicability of this Section 10, shall be settled before the dispute resolution program at any of the CME Group, the National Futures Association (NFA), or the Commodity Futures Trading Commission (CFTC), as applicable (an “Exchange Arbitration”). In the event no Exchange Arbitration is applicable, then the Parties agree to settle any disputes or controversies before the American Arbitration Association (“AAA”) in Chicago, Illinois under the AAA’s then current Commercial Arbitration Rules. Judgment upon any award may be entered in any court of competent jurisdiction. Notwithstanding this Section 10, TopstepFunded may seek injunctive relief, in accordance with Section 5, in any competent court having jurisdiction."

Let me know if you have any other questions.

Thank you!

I did ask support via e-mail, and got answer as well. I didn't notice that this part of agreement is not obligatory.
Than you very much for help. Big plus for your well functioning support.

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  #1207 (permalink)
 chipps1983 
Dover+NJ/US
 
Experience: Intermediate
Platform: Sierra Chart
Broker: Stage5/Advantage Futures
Trading: NQ
 
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One other suggestion I would like to ask which is very much many traders would appreciate.

There should be a separate approach for traders who were funded and failed. They have already gone through many combines, resets, Pro etc (months of work).

Once they are funded and blown away, they again have to start from Step 1 (Again months of work). If there is a way to have a single step for a failed funded trader would be appreciated.

--------
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  #1208 (permalink)
 awesomizer 
Portage, MI
 
Experience: Intermediate
Platform: Bookmap, Tradingview
Trading: NQ
 
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Posts: 73 since Nov 2020
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Forgive me if this has already been answered somewhere but I am interested in doing a combine and getting funded by topstep. My question is that I plan on using bookmap to trade from but once in a blue moon bookmap crashes and I was wanting to know if you allow concurrent connections to rithmic so that I can use ninjatrader to close out of a trade if I happen to be in a trade and would rather bail on the trade instead of it hitting my stop or target. Or so that I don’t have to have this deathly fear that if don’t have a stop in even for one second and bookmap crashes without the stop I won’t blow the whole account while I restart bookmap. I would be willing to pay extra to be able to be logged into rithmic from bookmap and ninja at the same time.

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  #1209 (permalink)
 Topstep  Topstep is an official Site Sponsor
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chipps1983 View Post
One other suggestion I would like to ask which is very much many traders would appreciate.

There should be a separate approach for traders who were funded and failed. They have already gone through many combines, resets, Pro etc (months of work).

Once they are funded and blown away, they again have to start from Step 1 (Again months of work). If there is a way to have a single step for a failed funded trader would be appreciated.

Thank you for the feedback. I've shared with our team.

If you have any questions about our products or services at Topstep (formerly TopstepTrader), please send me a Private Message or use the FIO "Ask Me Anything" thread.
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  #1210 (permalink)
 tr8er 
Europe
 
Experience: Advanced
Platform: TradeNavigator, BookMap
Trading: ES, CL, 6E, 6B
 
Posts: 470 since Jan 2017
Thanks: 29 given, 410 received


awesomizer View Post
Forgive me if this has already been answered somewhere but I am interested in doing a combine and getting funded by topstep. My question is that I plan on using bookmap to trade from but once in a blue moon bookmap crashes and I was wanting to know if you allow concurrent connections to rithmic so that I can use ninjatrader to close out of a trade if I happen to be in a trade and would rather bail on the trade instead of it hitting my stop or target. Or so that I don’t have to have this deathly fear that if don’t have a stop in even for one second and bookmap crashes without the stop I won’t blow the whole account while I restart bookmap. I would be willing to pay extra to be able to be logged into rithmic from bookmap and ninja at the same time.

I'm not from TopStep, but I can answer your question: You said that you want to close your open trade with NT if BookMap crashes, yes this is possible, but if you do your combine with BookMap, you always have Rithmic R-Trader (as backup) and there are no costs for the second connection.

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  #1211 (permalink)
 dyst 
Singapore
 
Experience: Intermediate
Platform: NinjaTrader, Sierra, MT4
Trading: ES, CL, NG, XAUUSD, USDJPY
 
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Posts: 109 since May 2015
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Topstep View Post
The rumors are true - Sierra Chart is working with Rithmic. We have confirmed with both SC and Rithmic. Sierra is confident that the stability/performance will be much better than the previous setup, and Rithmic confirmed the timing - May at the earliest. We are monitoring and will likely re-add once they are done with their work, and we have had the opportunity to test the new setup. It probably will not be re-added until H2 2021.

Thank you!

That's good news. I totally dislike rithmic platforms after unfortunate 'accidents' there with other prop firms. Rithmic has too much glitches/hiccups and customer service is poor.

Numbers work... Magic lies in the numbers
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