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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)

  #201 (permalink)
Elite Member
Philadelphia, PA
 
Futures Experience: Advanced
Platform: Multicharts, Ninja Trader
Broker/Data: Mirus/ZF
Favorite Futures: CL
 
9baller's Avatar
 
Posts: 27 since Jan 2012
Thanks: 8 given, 12 received

exactly...for those that have used T4 for several years...or any other platform that has become second nature may say the same thing about migrating to NT or any other platform....

for me personally...T4 or a similar platform is a move backwards...
I am certain there are many out there....pros included..who think otherwise
I was more frustrated with the limitations rather than an inability to adapt....

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  #202 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
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Big Mike's Avatar
 
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Big Mike View Post
Tip


There will be a Live AMA session on Thursday, July 25th @ 12:00 PM ET.

- Quick and casual, 30 minute cap
- No prepared presentation
- Live screen sharing
- Floor will be opened immediately to questions
- Recording uploaded to AMA thread afterwards
- Attend live to get your questions answered

The link for the event is:
https://www3.gotomeeting.com/register/282447510




Mike

Reminder for this event.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #203 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,237 since Jun 2009
Thanks: 29,350 given, 83,150 received


AMA room open.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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The following 2 users say Thank You to Big Mike for this post:
 
  #204 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,237 since Jun 2009
Thanks: 29,350 given, 83,150 received

I want to thank Michael Patak @TopstepTrader for his time today to answer questions in the AMA.

The recording for the AMA is below. If you have additional questions, you can ask them here in this thread.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Attached Files
ama-topsteptrader-jul25-2013.flv (34.68 MB, 199 views)
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  #205 (permalink)
bRoKeN
Houston, TX/USA
 
Futures Experience: Beginner
Platform: Sierra Chart
Broker/Data: Sierra Charts Data Feed
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Posts: 68 since May 2013
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I asked a question in the Q&A that I wasn't very clear about. Let me try to rephrase.......

I wish I could find the quote that I heard or read somewhere, but let me paraphrase. It went something like this....."If you want to be funded, we obviously have options for that. And if you want to trade your own account, then we have options for that as well".

Maybe I'm just imagining things, but I thought I read that somewhere, in regards to TST. Big Mike, NO I am not wanting to give my money to TST, lol, as you thought I was asking in the AMA. I guess I thought maybe they had some options out there for trading your own money along side their money. I guess if I wanted to trade my own account while trading for TST, then I could just do that on my own.

Anyways, sorry for the confusion and hopefully that clears up my question.

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  #206 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,237 since Jun 2009
Thanks: 29,350 given, 83,150 received

What did everyone think of the AMA?

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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The following user says Thank You to Big Mike for this post:
 
  #207 (permalink)
Market Wizard
Sarasota FL
 
Futures Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Favorite Futures: ES
 
Posts: 3,613 since Jan 2013
Thanks: 26,648 given, 11,037 received


Big Mike View Post
What did everyone think of the AMA?

Mike

Informative. And filled with good advice about trading that many people will not take (control your losses, manage your risk, don't concentrate on the profits....)

I like these Topstep guys.

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  #208 (permalink)
 Vendor: www.topsteptrader.com 
Chicago, IL
 
Futures Experience: Advanced
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Chrismind View Post
I asked a question in the Q&A that I wasn't very clear about. Let me try to rephrase.......

I wish I could find the quote that I heard or read somewhere, but let me paraphrase. It went something like this....."If you want to be funded, we obviously have options for that. And if you want to trade your own account, then we have options for that as well".

Maybe I'm just imagining things, but I thought I read that somewhere, in regards to TST. Big Mike, NO I am not wanting to give my money to TST, lol, as you thought I was asking in the AMA. I guess I thought maybe they had some options out there for trading your own money along side their money. I guess if I wanted to trade my own account while trading for TST, then I could just do that on my own.

Anyways, sorry for the confusion and hopefully that clears up my question.

Chrismind- The opportunity at TST is the possibility of getting funded. If you earn a funded account you'll be financially backed by our equity partner - and that trading account will include NO capital contribution on your part.

Obviously, if you want to trade your own personal account, separately, that's fine. But to clarify TST and any of our equity partners will never ask or accept your trading capital.

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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  #209 (permalink)
Elite Member
wa/ usa
 
Futures Experience: Intermediate
Platform: schwab, metatrader, OEC,T4,TDameritrade
Favorite Futures: CL ES 6C 6E
 
Posts: 254 since Oct 2012
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So as per the new rules vs old rules is this right ----

Old rule 10/20 day minimum out of 30/60 calendar days and you could trade upto a max 30/60 calendar days to meet your profit objective. Essentially you had 30 calendar days to meet your 10 day profit objective.

New rule-you pick 10/20 days minimum out of 30/60 calendar days and any day you trade counts against you and now you have 10 or 20 trading days (you pick) to meet your profit objective.

Is this right ?

Seems like a step backward from traders perspective. If they got it right they had 10 days earlier to complete the profit objective and if it didn't go right they still had the 30 calendar days to get it in order. If they get it right they still have to trade the minimum 10 days like earlier. 20 day seems more like it.

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  #210 (permalink)
Elite Member
wa/ usa
 
Futures Experience: Intermediate
Platform: schwab, metatrader, OEC,T4,TDameritrade
Favorite Futures: CL ES 6C 6E
 
Posts: 254 since Oct 2012
Thanks: 197 given, 438 received



Big Mike View Post
What did everyone think of the AMA?

Mike

Good questions and thanks to MP for answering them. Just caught the recording now.

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