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



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


Discussion in Trading Reviews and Vendors

Updated
      Top Posters
    1. looks_one Topstep with 245 posts (601 thanks)
    2. looks_two bobwest with 112 posts (291 thanks)
    3. looks_3 Big Mike with 48 posts (165 thanks)
    4. looks_4 emini2000 with 36 posts (16 thanks)
      Best Posters
    1. looks_one Big Mike with 3.4 thanks per post
    2. looks_two DarkPoolTrading with 2.8 thanks per post
    3. looks_3 bobwest with 2.6 thanks per post
    4. looks_4 Topstep with 2.5 thanks per post
    1. trending_up 335,282 views
    2. thumb_up 2,058 thanks given
    3. group 385 followers
    1. forum 1,239 posts
    2. attach_file 43 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

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

(login for full post details)
  #121 (permalink)
 Topstep  Topstep is an official Site Sponsor
Site Sponsor

Web: Topstep
AMA: Ask Me Anything
Webinars: Topstep Webinars
Elite offer: Click here
 
 
Topstep's Avatar
 
Posts: 271 since Feb 2013
Thanks: 73 given, 727 received


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

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.
Follow me on Twitter Reply With Quote
The following 4 users say Thank You to Topstep for this post:

Can you help answer these questions
from other members on futures io?
Equity Option commissions
The Elite Circle
Google Keyword Search Alerts
Traders Hideout
Cessation of Micro JPY / The first Micro Bites the Dust
Currencies
What are the main Eurobond futures and their respective …
Traders Hideout
Does anyone have the code for Anchored Vwap to use in Qu …
Traders Hideout
 
Best Threads (Most Thanked)
in the last 7 days on futures io
Vinny E-Mini & Algobox Review TRADE ROOM
54 thanks
Why dont people trade 150 ES contracts?
23 thanks
Daytrading.Coach Review
18 thanks
Design a DayTrader Scalping Order Flow Indicator
12 thanks
Am I finally on the right path?
10 thanks
 
(login for full post details)
  #122 (permalink)
 Topstep  Topstep is an official Site Sponsor
Site Sponsor

Web: Topstep
AMA: Ask Me Anything
Webinars: Topstep Webinars
Elite offer: Click here
 
 
Topstep's Avatar
 
Posts: 271 since Feb 2013
Thanks: 73 given, 727 received


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

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.
Follow me on Twitter Reply With Quote
The following 5 users say Thank You to Topstep for this post:
 
(login for full post details)
  #123 (permalink)
 Topstep  Topstep is an official Site Sponsor
Site Sponsor

Web: Topstep
AMA: Ask Me Anything
Webinars: Topstep Webinars
Elite offer: Click here
 
 
Topstep's Avatar
 
Posts: 271 since Feb 2013
Thanks: 73 given, 727 received



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

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.
Follow me on Twitter Reply With Quote
The following 2 users say Thank You to Topstep for this post:
 
(login for full post details)
  #124 (permalink)
 Topstep  Topstep is an official Site Sponsor
Site Sponsor

Web: Topstep
AMA: Ask Me Anything
Webinars: Topstep Webinars
Elite offer: Click here
 
 
Topstep's Avatar
 
Posts: 271 since Feb 2013
Thanks: 73 given, 727 received


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

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.
Follow me on Twitter Reply With Quote
The following 2 users say Thank You to Topstep for this post:
 
(login for full post details)
  #125 (permalink)
vercetti
Manchester, NH
 
 
Posts: 20 since Jan 2013
Thanks: 0 given, 12 received


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.

Reply With Quote
The following user says Thank You to vercetti for this post:
 
(login for full post details)
  #126 (permalink)
 daytrader07 
calgary canada
 
Experience: Advanced
Platform: ninja trader
Trading: CL, GC, ES
 
daytrader07's Avatar
 
Posts: 21 since Oct 2012
Thanks: 34 given, 16 received

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?

Reply With Quote
The following user says Thank You to daytrader07 for this post:
 
(login for full post details)
  #127 (permalink)
 podski 
Belgium
 
Experience: Intermediate
Platform: Ninjatrader
Broker: Ninjatrader Brokerage, CQG
Trading: FDAX, FDXM ...maybe
 
podski's Avatar
 
Posts: 388 since Sep 2012
Thanks: 498 given, 470 received

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

Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to podski for this post:
 
(login for full post details)
  #128 (permalink)
Pedro40
Pittsburgh, Pennsylvania
 
 
Posts: 563 since Jan 2013
Thanks: 33 given, 377 received


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...

Reply With Quote
The following 3 users say Thank You to Pedro40 for this post:
 
(login for full post details)
  #129 (permalink)
 garyboy275 
wa/ usa
 
Experience: Intermediate
Platform: schwab, metatrader, OEC,T4,TDameritrade
Trading: CL ES 6C 6E
 
Posts: 262 since Oct 2012
Thanks: 202 given, 448 received

(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.

Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to garyboy275 for this post:
 
(login for full post details)
  #130 (permalink)
 TideRip 
San Francisco
 
Experience: Intermediate
Platform: Multicharts, Investor R/T, RTrader
 
Posts: 13 since Sep 2010
Thanks: 14 given, 18 received


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

Reply With Quote
The following user says Thank You to TideRip for this post:


futures io Trading Community Trading Reviews and Vendors > TopstepTrader's Michael Patak (Founder) - Ask Me Anything (AMA)


Last Updated on November 19, 2021


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
     



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts