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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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  #201 (permalink)
 9baller 
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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)
 Big Mike 
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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.

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  #203 (permalink)
 Big Mike 
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AMA room open.

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 Big Mike 
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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

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  #205 (permalink)
 Chrismind 
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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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 Big Mike 
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What did everyone think of the AMA?

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  #207 (permalink)
 bobwest 
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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)
 Topstep  Topstep is an official Site Sponsor
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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

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  #209 (permalink)
 garyboy275 
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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)
 garyboy275 
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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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  #211 (permalink)
 PHXtrader 
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was there a link through topstep for a 3 month trial of Sierra Charts?

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  #212 (permalink)
 Chrismind 
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PHXtrader View Post
was there a link through topstep for a 3 month trial of Sierra Charts?

When you sign up for a combine or the free trial, you will see an option for the Sierra Chart trial.

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  #213 (permalink)
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was there a link through topstep for a 3 month trial of Sierra Charts?

PHXtrader- When you sign up for a trial or Combine you will be provided the 3 month trial link. https://www.topsteptrader.com:443/twoweektrial/WT

mp

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  #214 (permalink)
 Vincent Vega 
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Still waiting for good news about NT support with the combine.
We almost in september,whats going on dudes?

“Only one who devotes himself to a cause with his whole strength and soul can be a true master. For this reason mastery demands all of a person.”--Albert Einstein
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Vincent Vega View Post
Still waiting for good news about NT support with the combine.
We almost in september,whats going on dudes?

Vincent- We are waiting for the 3rd party to finish GUI type features. Setting up the environment on their end has taken much longer than anticipated. I do apologize for the delay but I can assure you we will have this working soon.

mp

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  #216 (permalink)
 martinbuch 
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Any news on making EUREX products available for the combine?

Thanks,
Martin

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  #217 (permalink)
 DarkPoolTrading 
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Just a few comments regarding the new rule changes:

Make sure you do the maths behind every rule change. Don't just take emails like this at face value thinking it 'sounds good' or makes things easier.

Case in point, one of the new rule changes is to implement the minimum balance clause detailed here

In summary, your maximum drawdown trails your maximum end of day account balance until such time as you've reached your maximum drawdown in profits. Only then do you start building more of a cushion. eg:

In a 50k combine your maximum drawdown is $2000. Under the current rules if you were to end day 1 of trading up $1000 your balance would be $51 000. You then have a 'cushion' of $3000 until you reach your max drawdown. ie: $51 000 - $3000 = $48 000

Under the proposed rules, in the same combine after being up $1000 at the end of a day your balance would still be $51000. BUT,..your minimum now trails your max balance and remains at the original $2000. Meaning that your new maximum drawdown is now $51000 - $2000 = $49000. This continues until such time as you've made more than your max drawdown in profits.

What this results in, is essentially instead of being able to build a 'cushion' straight away by moving away from your max drawdown. You actually remain extremely close to your max drawdown until you've made that amount in profits. Only then do you start building a cushion.

Another recent example of where most traders seemed to take rule changes at face value instead of doing the maths behind it was the change from a 'minimum number of days' format to a discreet format, eg:

Using a 50k 20day combine as an example, under the previous rules you had to trade a minimum of 20 trading days in a 60 calendar day period. In 60 trading days there are typically +-42 trading days. The profit target was $5000. So you had 42 trading days to make $5000. An average of 5000 / 42 = $119 per day.

Under the current rules since the change to a discreet format, you only get 20 trading days in a 60 calendar day period (ie: not a minimum of 20 trading days, but a discreet amount). Using the same 50k 20 day combine example, the profit is now $3500. Most traders seemed to think this was great because they took it at face value. Do the maths. An average of $3500 / 20 days = $175 per day is now required.

Both the prior rule change and this one are making the combine incrementally more difficult (and in my opinion more removed from simulating a live trading environment. The rules should better simulate live trading which was the case a few months ago - but that's another discussion). Do the maths on all rule changes.

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  #218 (permalink)
 fourtiwinks 
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Thanks very much to DPT for the insights to the changes. What a shame that TST is deviating from its goals and stacking odds against traders from qualifying. Hope it doesn't turn into a scam one day..

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  #219 (permalink)
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Guys I am here for any questions.

Darkpool to answer your question. Doing the math or not we are looking for traders to produce. We are NOT stacking the odds against you. The Combine allows us to find those traders. It also allows those to develop who are not able to "naturally" meet the profit target. You should never force it. If you are forcing it you are not focusing on your trading. You are focusing on the profit target which is only PART of the objective. The Combine Objective is to "Follow the Rules" (which are basics fundamental rules that traders should have in their trading plan) and meet or exceed the profit target. If you didn't hit the profit you but met the rules you are rolling over or moving on in your life at no cost. Traders develop by being in the market this is helping them develop.

We could pick apart every little detail and miss the fact that this opportunity is to help us find traders and help others create, test, and prove their trading strategy, without risking REAL trading capital. That is our offer. There is incredible talent out there that does not have the chance to develop properly or showcase themselves in front of anyone that is able to help them move them forward. We are a solution and an available option for these traders.

mp

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  #220 (permalink)
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fourtiwinks View Post
Thanks very much to DPT for the insights to the changes. What a shame that TST is deviating from its goals and stacking odds against traders from qualifying. Hope it doesn't turn into a scam one day..

fourtiwinks- We have made changes to the Combine multiple times since starting the firm 3 years ago. We work with our data, our equity partner and many educators that partner with us and come on our broadcast to make any necessary tweaks or changes to the program.

We have more traders than ever coming up to the funded level and more Juniors graduating to Seniors as well. We will always look to make changes that best fit all parties while helping traders develop.

mp

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  #221 (permalink)
 xelaar 
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With all fairness, while new rules while might make doing combine somewhat more difficult (cushion wise) they now more resemble trading parameters of Junior Trader. Which is a good thing. And those got bit relaxed. I found that the whole mindset and risk approach is very different when moving live from Combine, making is difficult. So I personally view this new approach as a positive development for those who actually going to go live. What would be also positive is to have same approach to trading hours in Combine and JT. It actually can change results of one's trading quite a lot.

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 fourtiwinks 
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Hi Michael, thanks for the explanations. I'm sure most of us don't mind rule changes, as long as they are transparent and the implications clearly stated.

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  #223 (permalink)
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xelaar View Post
With all fairness, while new rules while might make doing combine somewhat more difficult (cushion wise) they now more resemble trading parameters of Junior Trader. Which is a good thing. And those got bit relaxed. I found that the whole mindset and risk approach is very different when moving live from Combine, making is difficult. So I personally view this new approach as a positive development for those who actually going to go live. What would be also positive is to have same approach to trading hours in Combine and JT. It actually can change results of one's trading quite a lot.

Xelaar- To answer your comment about time. Seniors trade when they want. Junior Traders are able to get approval for earlier times. Our equity partner currently does not allow trading at the live level BEFORE the London session. This decision is also due to the data we receive. Once we see better performance from 5pm in the evening (when globex reopens) to the open of the London session, we will go back to the equity partner and request approval.

As a side not we have got approval for the 5pm to London open but this is case by case.

mp

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  #224 (permalink)
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fourtiwinks View Post
Hi Michael, thanks for the explanations. I'm sure most of us don't mind rule changes, as long as they are transparent and the implications clearly stated.


fourtiwinks- I completely agree with you. We have always tried to be as transparent as possible.

I did want to mention that in 15 minutes our Director of Scouting will be on our Squawk radio broadcast to answer any questions you have and get the explanation as to "WHY."

I will be on the broadcast tomorrow fielding questions as well. Join us. The room is open to guest.

mp

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  #225 (permalink)
 xelaar 
prague, czech republic
 
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TopstepTrader View Post
Xelaar- To answer your comment about time. Seniors trade when they want. Junior Traders are able to get approval for earlier times. Our equity partner currently does not allow trading at the live level BEFORE the London session. This decision is also due to the data we receive. Once we see better performance from 5pm in the evening (when globex reopens) to the open of the London session, we will go back to the equity partner and request approval.

As a side not we have got approval for the 5pm to London open but this is case by case.

mp

Well perhaps, but nobody told me I can request to trade earlier. I was told 7 AM is the earlier for now. Even LTP was capped by stating at 6 AM. All kudos to those who will get that special care.

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  #226 (permalink)
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xelaar View Post
Well perhaps, but nobody told me I can request to trade earlier. I was told 7 AM is the earlier for now. Even LTP was capped by stating at 6 AM. All kudos to those who will get that special care.

Xelaar- just to clarify we don't give special treatment but we do discuss with the trader moving to LTP or to the Funded level their trading plan and what times best work with them.

mp

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  #227 (permalink)
 xelaar 
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TopstepTrader View Post
Xelaar- just to clarify we don't give special treatment but we do discuss with the trader moving to LTP or to the Funded level their trading plan and what times best work with them.

mp

Well as a former live trader my experience I was told specifically I can start trading at 7 AM after reporting to the room, and never earlier until I get to senior trader. I did indicate my approach is getting better setups at around 4-5 AM CST.

Anyway, good luck to all those working hard at getting live.

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  #228 (permalink)
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xelaar View Post
Well as a former live trader my experience I was told specifically I can start trading at 7 AM after reporting to the room, and never earlier until I get to senior trader. I did indicate my approach is getting better setups at around 4-5 AM CST.

Anyway, good luck to all those working hard at getting live.

RAA- We are working on getting more permission to open this up. We have Seniors trading much earlier but as a Junior it is still case by case.

mp

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For anyone that needs a bit more clarity on the changes regarding Minimum Account Balance here is a graph and a link to the description: (as you will notice when trading as a funded trader the further away you get from your initial balance the greater negotiating powers you will have for increasing your size and daily loss limit, as well as the opportunity to trade other products and/or markets)



Minimum Balance Defined ? Help & Feedback Center

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 indiantrader 
Mumbai, India
 
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I got an email from TST about a new funded trader.
The combine report shows overall daily negative average for crude and 6B and positive on gold still he is eligible for a funded account
I was under the impression that winning a combine needs positive average in all instruments traded.
Somebody please clarify the rules.
Here is the combine picture I got in email.

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indiantrader View Post
I got an email from TST about a new funded trader.
The combine report shows overall daily negative average for crude and 6B and positive on gold still he is eligible for a funded account
I was under the impression that winning a combine needs positive average in all instruments traded.
Somebody please clarify the rules.
Here is the combine picture I got in email.

Indiantrader- All recruits are able to customize their rules or profit target. This option has been available for over a year. We do have many that take advantage of this as they can build rules or profit more suited to their trading plan. If someone is interested in customizing they would need to call and speak to a member of our team.

Hope that helps.

Mp

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 Vincent Vega 
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10 of September and still nothing regarding the combine with NT.
Is there any reasonable estimated release date for these so long awaited news?

“Only one who devotes himself to a cause with his whole strength and soul can be a true master. For this reason mastery demands all of a person.”--Albert Einstein
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 futuretrader 
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There was a brief beta trial in the summer, which I signed up for but had to postpone. Now it is no longer available. The beta trial results are apparently being evaluated.

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10 of September and still nothing regarding the combine with NT.
Is there any reasonable estimated release date for these so long awaited news?

Vincent- We are getting things in our team's hands to run another beta test by the end of September. This "should" be the final beta group. The hold up on NT release in our program has been with the 3rd party back-end provider and has been completely out of our hands.

We are ready to go on our end but we will ensure that all things are in complete working order before adding the NT platform to the Combine.

mp

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 martinbuch 
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Any news on making EUREX products available for the combine?

Thanks,
Martin

Anything?

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 Vincent Vega 
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Vincent- We are getting things in our team's hands to run another beta test by the end of September. This "should" be the final beta group. The hold up on NT release in our program has been with the 3rd party back-end provider and has been completely out of our hands.

We are ready to go on our end but we will ensure that all things are in complete working order before adding the NT platform to the Combine.

mp

Another month passed and still nothing encouraging.
Can we get finaly a release date?

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Another month passed and still nothing encouraging.
Can we get finaly a release date?

Vincent- We are still waiting for the environment to be completely built-out bug free and with the functionality we need to manage the Combine. We (I) are just as frustrated with the time this has taken as anyone. I can assure you it is my top priority and I am working daily towards a solution.

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  #238 (permalink)
 bobwest 
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Just to add a little to the conversation -- and Michael, please let me know if I get anything wrong or leave something out -- here's my take on the issues:

T4 is a platform that is built for traders working within a firm. It has the ability for a Risk Manager to monitor your trades, set limits on what you can do, and, I assume, step in if you overstep your risk or loss parameters. A firm needs to be able to manage the risk exposure that its traders get it into while trading its money.

Ninja was not designed with that kind of activity in mind; it's for an individual trader who is trading his/her own account, and so it doesn't have a way for the firm to manage its risks.

My understanding is that the "back end" work that TST talks about having a third party do is to supply that capability, which is not natively a part of Ninja, and probably is not going to be.

As an (ex-) programmer, I would expect this to be an involved and tricky job, hence the delays and the need for lots of testing. In effect, it's modifying a major commercial software package, at least on the back end, and it's not being done by the company that wrote the package.

Michael, if I got any of this wrong, please fill in, but I'm not sure that everyone is clear about why it's been a big task, or has taken the time that it has.

Bob.

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bobwest View Post
Just to add a little to the conversation -- and Michael, please let me know if I get anything wrong or leave something out -- here's my take on the issues:

T4 is a platform that is built for traders working within a firm. It has the ability for a Risk Manager to monitor your trades, set limits on what you can do, and, I assume, step in if you overstep your risk or loss parameters. A firm needs to be able to manage the risk exposure that its traders get it into while trading its money.

Ninja was not designed with that kind of activity in mind; it's for an individual trader who is trading his/her own account, and so it doesn't have a way for the firm to manage its risks.

My understanding is that the "back end" work that TST talks about having a third party do is to supply that capability, which is not natively a part of Ninja, and probably is not going to be.

As an (ex-) programmer, I would expect this to be an involved and tricky job, hence the delays and the need for lots of testing. In effect, it's modifying a major commercial software package, at least on the back end, and it's not being done by the company that wrote the package.

Michael, if I got any of this wrong, please fill in, but I'm not sure that everyone is clear about why it's been a big task, or has taken the time that it has.

Bob.

Bob- Thank you for that and spot on. You know your stuff.

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  #240 (permalink)
 Vincent Vega 
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So it will happen in 2015 i suppose.

“Only one who devotes himself to a cause with his whole strength and soul can be a true master. For this reason mastery demands all of a person.”--Albert Einstein
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 tderrick 
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I'm just happy it's still in the pipeline !! Don't give up, TST !!


AJ
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 Big Mike 
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 DarkPoolTrading 
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Hi Michael,

During live trader prep (and junior trader status), traders are limited to the number of contracts they are allowed to trade. This obviously makes sense as the goal would be to grow the account slowly to start off with and not take on too much risk with any individual trade.

My question though is specific to the 30k combine. From what i've noticed, generally traders who go to live trader prep and junior trader status after passing the 30k, are told by TST that they are limited to trading 1 contract. (please correct me if im mistaken?)

Instead of being limited to 1 contract, can the trader instead specify what their maximum loss per trade will be? For example can they specify that their maximum stop loss for a trade will always be $100 (obviously things like slippage will occasionally happen). What that will allow is for the trader to trade 2 contracts if they wish and if that is what their strategy calls for, as long as their per trade risk is kept to whatever figure they have specified?

The reason I ask is because being limited to 1 contract calls for a massively different trade management strategy than trading multiple contracts. You may have passed the combine using a multi-contract trade management approach, and then go into live trader prep not being able to 'dance with the won that brung yah'. Being allowed to trade 2 contracts yet within the specified maximum risk per trade (as mutaully agreed upon before hand) offers far more flexibility for the same amount of risk.

thanks.

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Hi Michael,

During live trader prep (and junior trader status), traders are limited to the number of contracts they are allowed to trade. This obviously makes sense as the goal would be to grow the account slowly to start off with and not take on too much risk with any individual trade.

My question though is specific to the 30k combine. From what i've noticed, generally traders who go to live trader prep and junior trader status after passing the 30k, are told by TST that they are limited to trading 1 contract. (please correct me if im mistaken?)

Instead of being limited to 1 contract, can the trader instead specify what their maximum loss per trade will be? For example can they specify that their maximum stop loss for a trade will always be $100 (obviously things like slippage will occasionally happen). What that will allow is for the trader to trade 2 contracts if they wish and if that is what their strategy calls for, as long as their per trade risk is kept to whatever figure they have specified?

The reason I ask is because being limited to 1 contract calls for a massively different trade management strategy than trading multiple contracts. You may have passed the combine using a multi-contract trade management approach, and then go into live trader prep not being able to 'dance with the won that brung yah'. Being allowed to trade 2 contracts yet within the specified maximum risk per trade (as mutaully agreed upon before hand) offers far more flexibility for the same amount of risk.

thanks.

Darkpool- All traders that go directly to the funded level or that go into the Live Trader Preparation are able to discuss this with the scout on their call. Recently we had a $30k Trader get brought up that is able to trade his max size if he so chooses. Some Traders are asked to tighten it up only until they start building their account.

My point is, this is a case by case situation, but what you are proposing makes logical sense IF it is in their trading plan or how they traded in the Combine. This would most likely get approved.

Great question. I hope I answered it well enough for you.

mp

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  #245 (permalink)
 martinbuch 
NUREMBERG BAYERN
 
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martinbuch View Post
Any news on making EUREX products available for the combine?

Thanks,
Martin

Any updates on this?

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Any updates on this?

Martinbuch- No updates at this time for Eurex. We do have some other updates, if interested.

-We recently launched a completely new and redeveloped TopstepTrader website. With the launch of the new site we will be pushing new feature that our recruits and traders recommend weekly.

-We are very very close to launching the NinjaTrader Platform with the Trading Combine.

There are a handful of other great updates that we will be announcing soon but I will wait for the date to get closer before going into any detail.

Thanks,

mp

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  #247 (permalink)
 Vincent Vega 
Beer Sheva,Israel
 
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-We are very very close to launching the NinjaTrader Platform with the Trading Combine.

close as within the coming month?

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close as within the coming month?

Vincent- pending there are no problems, yes.

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 ryanmcc15 
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TopstepTrader View Post
Vincent- pending there are no problems, yes.

mp

Hey Michael,

Have there been any problems?

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Hey Michael,

Have there been any problems?

Ryanmcc15- As of today, our Trader Support team has started contacting those on the waiting list to invite them to the Combine, using NT. The earliest for those invited to begin will be tomorrow.

I will keep futures.io (formerly BMT) traders posted on the public release which should be happening very soon.

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  #251 (permalink)
 Chrismind 
Houston, TX/USA
 
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NinjaTrader is now supported by TsT. Yes, you heard right. Enjoy

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 Daytrader999 
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TopstepTrader View Post
Ryanmcc15- As of today, our Trader Support team has started contacting those on the waiting list to invite them to the Combine, using NT. The earliest for those invited to begin will be tomorrow.

I will keep futures.io (formerly BMT) traders posted on the public release which should be happening very soon.

mp

Hi Michael,

Since I should be on the waiting list for more than one year now (after I've been one of the first traders to try out NT in vain) and with a free combine left as well, I didn't receive any information from TST yet...

So, if all remaining issues regarding NT have been resolved by now, I'd like to give NT another try in a combine which I'd like to start on January 6th.

"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
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 iqgod 
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It is a commendable effort.
However, for the benefit of all, keep these issues at the back of your mind:

Known NinjaTrader Issues ? Help & Feedback Center


My Account Positions, Cash On Hand, and Trade Position on the Dynamic Dom fail to reappear after disconnecting from the data feed or after an internet connection failure.

Dynamic Dom
- Working Orders remain working (visible in R|Trader, however they are not visible on NT ladder upon reconnection)
- Trade RPnL fails to calculate or acknowledge position, however when Flatten or Close is clicked, the trade executes

Control Center → Positions
- Screen is blank after reconnection

Control Center → Accounts
- Account balance data disappears after reconnection

There is a display error on Charts after OCO Profit or Stop leg hit.

Chart Trader and Dynamic Dom
- After position filled and profit target reached, the stop loss order appears to not be cancelled automatically, remains frozen on chart after the market trades through it

This problem is resolved by restarting the NinjaTrader platform. To reiterate, this is a display error and not a functionality error. Attempts to recreate this problem consistently have failed. If you do encounter this problem, please email support@topsteptrader.com with supporting documentation (screenshots, log files, actions leading up to error).

If you experience either of these problems, we recommend verifying your positions, working orders, and account balances through the R|Trader platform. Once your account is flat with no working orders on, please close down and restart NinjaTrader.


Question for Michaeal,

Are we now able to instruct NinjaTrader to flatten before 3:10pm automatically?

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 bobwest 
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Just a quick word on NT for TsT in its present phase:

At this point, users who opt for testing Ninja on TsT are beta testers. Beta testers, in software releases, are supposed to find the inevitable bugs that the developers could not find because they were too close to their own software to test it in all its aspects.

This is a crucial part of software development and rollout... and somebody has to do it. Usually, it is early adopters who are willing to take their lumps in order to get a jump on using the initial version, in exchange for reporting the issues they find.

I've usually been the developer and not the tester, and have been grateful for the testers who found my bugs for me. Software can't be rolled out without them.

But if you want to just use the software in a Combine, hang on until the testing is complete. Really... there will be a lot of things that need to be found and fixed before using it is routine... or, perhaps, not so many, but the process still has to complete.

I am strongly in favor of TsT's Combine, and of their decision to add NinjaTrader to their supported platforms, but it will take a bit of real-time testing to shake it all down.

They're doing this right. Patience is important for the user community at this point, hopefully not for long. (And, yes, I'll be happy when I don't have to dork around with using NT for charting and the T4 DOM for trade entry .... Patience.... )

Bob.

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 tderrick 
Nashville, Tennessee
 
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iqgod View Post
It is a commendable effort.
However, for the benefit of all, keep these issues at the back of your mind:

Known NinjaTrader Issues ? Help & Feedback Center


My Account Positions, Cash On Hand, and Trade Position on the Dynamic Dom fail to reappear after disconnecting from the data feed or after an internet connection failure.

Dynamic Dom
- Working Orders remain working (visible in R|Trader, however they are not visible on NT ladder upon reconnection)
- Trade RPnL fails to calculate or acknowledge position, however when Flatten or Close is clicked, the trade executes

Control Center → Positions
- Screen is blank after reconnection

Control Center → Accounts
- Account balance data disappears after reconnection

There is a display error on Charts after OCO Profit or Stop leg hit.

Chart Trader and Dynamic Dom
- After position filled and profit target reached, the stop loss order appears to not be cancelled automatically, remains frozen on chart after the market trades through it

This problem is resolved by restarting the NinjaTrader platform. To reiterate, this is a display error and not a functionality error. Attempts to recreate this problem consistently have failed. If you do encounter this problem, please email support@topsteptrader.com with supporting documentation (screenshots, log files, actions leading up to error).

If you experience either of these problems, we recommend verifying your positions, working orders, and account balances through the R|Trader platform. Once your account is flat with no working orders on, please close down and restart NinjaTrader.


Question for Michaeal,

Are we now able to instruct NinjaTrader to flatten before 3:10pm automatically?



What is R trader ?

grazie


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 iqgod 
Market Wizard
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tderrick View Post
What is R trader ?

grazie

From:

Rithmic - Trading Interfaces

R | Trader is Rithmic's front end trading and real time risk management screen. With R | Trader you can view quotes, market depth and option strikes in real time, place trades and pull orders, and view order history, performance, positions and risk limits.

Note: The same combine login information used for NinjaTrader can be used to login to R Trader.

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 tderrick 
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From:

Rithmic - Trading Interfaces

R | Trader is Rithmic's front end trading and real time risk management screen. With R | Trader you can view quotes, market depth and option strikes in real time, place trades and pull orders, and view order history, performance, positions and risk limits.

Note: The same combine login information used for NinjaTrader can be used to login to R Trader.

Please excuse my ignorance ... so R Trader = Rithmic = TST ?

.. in other words... TST uses R trader via rithmic?


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 iqgod 
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tderrick View Post
Please excuse my ignorance ... so R Trader = Rithmic = TST ?

.. in other words... TST uses R trader via rithmic?

As I understand it TST preferred T4 because it gave them the ability to monitor and actively cut off positions if risk limits are being exceeded (especially for live prep or live traders).

FCM and IB administrators use R | Trader to do all that traders can on behalf of any of their users and accounts. Administrators can set risk limits, activate and deactivate users and accounts and record fills and cancels whose execution has been made outside of the Rithmic trade execution software.

Thus, I have come to understand that TST uses R Trader in conjunction with NinjaTrader to manage risk of open positions.

I could be way off, so this comes attached with the proverbial grain of salt.

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Daytrader999 View Post
Hi Michael,

Since I should be on the waiting list for more than one year now (after I've been one of the first traders to try out NT in vain) and with a free combine left as well, I didn't receive any information from TST yet...

So, if all remaining issues regarding NT have been resolved by now, I'd like to give NT another try in a combine which I'd like to start on January 6th.

Daytrader999- Contact support@topsteptrader.com or call 312.252.9490. Ninja is available. It is just not public yet.

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iqgod View Post
It is a commendable effort.
However, for the benefit of all, keep these issues at the back of your mind:

Known NinjaTrader Issues ? Help & Feedback Center


My Account Positions, Cash On Hand, and Trade Position on the Dynamic Dom fail to reappear after disconnecting from the data feed or after an internet connection failure.

Dynamic Dom
- Working Orders remain working (visible in R|Trader, however they are not visible on NT ladder upon reconnection)
- Trade RPnL fails to calculate or acknowledge position, however when Flatten or Close is clicked, the trade executes

Control Center → Positions
- Screen is blank after reconnection

Control Center → Accounts
- Account balance data disappears after reconnection

There is a display error on Charts after OCO Profit or Stop leg hit.

Chart Trader and Dynamic Dom
- After position filled and profit target reached, the stop loss order appears to not be cancelled automatically, remains frozen on chart after the market trades through it

This problem is resolved by restarting the NinjaTrader platform. To reiterate, this is a display error and not a functionality error. Attempts to recreate this problem consistently have failed. If you do encounter this problem, please email support@topsteptrader.com with supporting documentation (screenshots, log files, actions leading up to error).

If you experience either of these problems, we recommend verifying your positions, working orders, and account balances through the R|Trader platform. Once your account is flat with no working orders on, please close down and restart NinjaTrader.


Question for Michaeal,

Are we now able to instruct NinjaTrader to flatten before 3:10pm automatically?


iqgod- Yes, please review this link: http://help.futures.topstep.com/knowledgebase/articles/293982-how-to-automatically-flatten-trades

mp

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bobwest View Post
Just a quick word on NT for TsT in its present phase:

At this point, users who opt for testing Ninja on TsT are beta testers. Beta testers, in software releases, are supposed to find the inevitable bugs that the developers could not find because they were too close to their own software to test it in all its aspects.

This is a crucial part of software development and rollout... and somebody has to do it. Usually, it is early adopters who are willing to take their lumps in order to get a jump on using the initial version, in exchange for reporting the issues they find.

I've usually been the developer and not the tester, and have been grateful for the testers who found my bugs for me. Software can't be rolled out without them.

But if you want to just use the software in a Combine, hang on until the testing is complete. Really... there will be a lot of things that need to be found and fixed before using it is routine... or, perhaps, not so many, but the process still has to complete.

I am strongly in favor of TsT's Combine, and of their decision to add NinjaTrader to their supported platforms, but it will take a bit of real-time testing to shake it all down.

They're doing this right. Patience is important for the user community at this point, hopefully not for long. (And, yes, I'll be happy when I don't have to dork around with using NT for charting and the T4 DOM for trade entry .... Patience.... )

Bob.

Bob- Beta testing is over and NinjaTrader is good to go. We are currently in soft launch (haven't sent a mass announcement yet or added it to the site).

Currently, you can call or email our Trader support team (312.252.9490 and support@topsteptrader.com) and they will help you get connected with NinjaTrader in the Trading Combine.

mp

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All,

To clarify, NinjaTrader is available in the Trading Combine. Everything has been tested and things are working well.

If you are interested in entering the Combine using NinjaTrader, please call or email our Trader Support team at 312.252.9490 or support@topsteptrader.com.

We are excited about the (soft) launch and will be announcing the official launch shortly. We wanted to provide those at futures.io (formerly BMT) an opportunity to get started before the general public. Thank you all for your patience and remember to trade smart!

mp

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  #263 (permalink)
 MedianVelocity 
 
 
Posts: 135 since Dec 2013

I have a quick question to clarify something about your program. Is it required to take part in any training programs or chat rooms?

I am considering doing a combine when I have extra time in late spring/summer. However, if it requires more than phone/email correspondence and memorizing a set of rules I won't have the time. I would prefer to simply mirror my normal daytrades into your combine test.

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MedianVelocity View Post
I have a quick question to clarify something about your program. Is it required to take part in any training programs or chat rooms?

I am considering doing a combine when I have extra time in late spring/summer. However, if it requires more than phone/email correspondence and memorizing a set of rules I won't have the time. I would prefer to simply mirror my normal daytrades into your combine test.

MedianVelocity- We want our recruits and funded traders focusing on trading and following their rules as well as ours. Besides emails and a phone call (if you achieve the objective) there is a small amount of time you will need to devote to communicating with TST outside of showcasing your trading.

I hope that helps.

mp

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 MedianVelocity 
 
 
Posts: 135 since Dec 2013

Thanks, I will likely sign up for a combine late spring or summer.

I would be willing to dedicate a lot of time to TST. However, I need to verify that my set of rules and trading method can match your combine requirements consistently first. I will be able to spare the time if I pass the combine.

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MedianVelocity View Post
Thanks, I will likely sign up for a combine late spring or summer.

I would be willing to dedicate a lot of time to TST. However, I need to verify that my set of rules and trading method can match your combine requirements consistently first. I will be able to spare the time if I pass the combine.

MedianVelocity- If you like, you may contact us at 312.252.9490 and our rep can help you customize the rules to fit with your trading style. Just an added option I wanted to mention.

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 mykee 
Johor, Malaysia
 
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hi MP,

I'm currently doing the free trial combine. I have tried a few times to get connected to the Squawk Radio, but couldn't. Is there something that I needed to download first or is it just for US based traders? tq.

mykee

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mykee View Post
hi MP,

I'm currently doing the free trial combine. I have tried a few times to get connected to the Squawk Radio, but couldn't. Is there something that I needed to download first or is it just for US based traders? tq.

mykee

Mykee- I'm sorry you had login issues. You should be able to log in now. If you have any other issues arise please contact support@topsteptrader.com. Our support team is quick with a reply or available via phone.

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 mykee 
Johor, Malaysia
 
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Thanks mp,

Will try again this monday.


mykee

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  #270 (permalink)
Commodity
Malaysia,Kualalumpur
 
 
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having NT in the combine , is the good news.

do you offer NT in practice account too ? it seems still there is only T4 for practice period
are all bugs and issues with NT ,resolved ?
is there any plan to include EUREX popular instruments such as FGBL,FESX ?
your website was better before . now after changes it has a more complicated and less understandable appearance.

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  #271 (permalink)
 tderrick 
Nashville, Tennessee
 
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Commodity View Post
having NT in the combine , is the good news.

do you offer NT in practice account too ? it seems still there is only T4 for practice period
are all bugs and issues with NT ,resolved ?
is there any plan to include EUREX popular instruments such as FGBL,FESX ?
your website was better before . now after changes it has a more complicated and less understandable appearance.


Correct .. T4 only for the trial period. NT for actual Combines. ... as for the rest I don't know...

btw, A trader from Iran is fantastic. ...


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Commodity
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Also, is there any specific time / plan to add EUREX products ?

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  #273 (permalink)
Commodity
Malaysia,Kualalumpur
 
 
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Also there is no "profit target" in combo section in your website ad there is no description about cusotm combine.
your previous website had better information.

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  #274 (permalink)
 Daytrader999 
Legendary Market Wizard
Ilsede, Germany
 
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Commodity View Post
Also there is no "profit target" in combo section in your website ad there is no description about cusotm combine.
your previous website had better information.

You can find all combine details here:

Combine Account Parameters ? Help & Feedback Center

All parameters for a custom combine can be negotiated with TST directly.

"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
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  #275 (permalink)
 MedianVelocity 
 
 
Posts: 135 since Dec 2013

I am a little confused about how certain users say you prefer a specific trading style at Topstep.

Which of these styles do you prefer to see? The trader consistently trading for multiple 2-3 point moves on the ES doing many trades per day, or the trader who is more of a sniper waiting around for a couple solid 4 point + trade setups a day on average. If both traders were pulling in the same amount per week consistently... Why would it matter what their style is?

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  #276 (permalink)
 bobwest 
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MedianVelocity View Post
I am a little confused about how certain users say you prefer a specific trading style at Topstep.

Which of these styles do you prefer to see? The trader consistently trading for multiple 2-3 point moves on the ES doing many trades per day, or the trader who is more of a sniper waiting around for a couple solid 4 point + trade setups a day on average. If both traders were pulling in the same amount per week consistently... Why would it matter what their style is?

I'm sure Michael will respond to this, but it may be useful to hear from someone not officially connected with TopStep.

They post their rules here: Combine Rules ? Help & Feedback Center

Basically, they have a profit target and some loss-control rules. I have seen comments to the effect that the loss rules discriminate against one type of trader or another, particularly traders with lower winning percentages who look for big winning trades to make up for it. Some trend-following trading works that way. But that does not mean they prefer scalping, for example. It means they prefer not losing a lot.

It is a particular outlook on trading (don't look for a big home run to pull you out of the hole), but it is pretty broad.

You can read the rules and decide for yourself. I have seen people win the Combine who did a high number of trades, and others who did one a day. They really don't care, so long as you don't lose their money and make a profit.

They periodically publish the (anonymous) trade reports of traders who win the Combine (although I can't find it right now on their new web site), so you can decide. Maybe someone else will have the link.

You can also ask for a custom Combine, with different rules that you propose. I think they want to see good loss control, but they tend to be flexible in what they approve.

This is not meant to be an ad for TsT -- just an answer to your question that isn't directly from them.

And yes, the Combine is worth attempting; the discipline of strong loss rules, and having a small amount of real money at stake (whatever you paid for the Combine, which you may or may not get back, depending on how you do) make it a learning experience, whether you get funded or not.

@Big Mike has said somewhere that the value of the Combine is not so much in getting funded, as in acquiring the discipline, which I think is correct.

Just my 2 cents (or maybe 20 )

Bob.

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  #277 (permalink)
 MedianVelocity 
 
 
Posts: 135 since Dec 2013

I read through the rules a couple times. There is only one rule that I can see that pushes people more toward scalping with TST.

It's this one additional junior trader rule here: "I will stop trading for the day if my Realized Net P&L is greater than $350 and my Realized Net P&L has pulled back 50% off my high watermark (realized Net P&L high of the day)."

If your going for many small base hits, a couple bad trades in a row won't bring that rule up.

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  #278 (permalink)
 bobwest 
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MedianVelocity View Post
I read through the rules a couple times. There is only one rule that I can see that pushes people more toward scalping with TST.

It's this one additional junior trader rule here: "I will stop trading for the day if my Realized Net P&L is greater than $350 and my Realized Net P&L has pulled back 50% off my high watermark (realized Net P&L high of the day)."

If your going for many small base hits, a couple bad trades in a row won't bring that rule up.

I see your point, but I just interpret this as more risk control, not a particular bias.

Remember, these guys were successful pit traders for many years. They didn't look to trading to escape their day job, it WAS their day job. So they have a big concern with staying in business for the long haul, which means to not let your inevitable losses sink you.

Again, this is just me. But I do think their emphasis on risk is a good thing.

Bob.

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  #279 (permalink)
 xelaar 
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I think of their rule set as a thought through framework that can provide a great short cut for many seeking to put their trading business into a realustic proved frame. Won't work for everybody like nothing will but can be a great start.

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nemeis45
delhi, delhi, india
 
 
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Hi,
i will be taking your combine program in Jan i guess
i have a few questions about your program

1) I see that your commissions in the combine are 2.50 USD per side.
what are the commissions for a live trader ? the same? . is there any volume based criteria like other FCM's and
is patak trading llc an FCM?

2) can a friend of mine pay the 200$ USD required for the 50k combine, or does it need to come from my own account

3) is the combine duration for 10 or 20 days? profit objective is different for both?

4) as per your website you become a senior trader when max trailing drawdown reaches 0
ex. for a 50k account , you become a senior trader, when your account crosses 52k USD ?
am i correct?

5) Once you reach 80% split after reaching 30k USD in profits, can you be moved back to 70% split if your profit comes below 30k USD?

6) can i do long term trades (not intra day) after building up my account /senior trader?

7) do you have a electronic trading floor i can join somewhere?

Thanks for your reply and patience!

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  #281 (permalink)
 MedianVelocity 
 
 
Posts: 135 since Dec 2013

I was testing out the trial... And there is one thing that bugs me a little. I placed a bid on the L2 and watched price push the size down to 6 at the price level, then size went back up around a hundred, and it came back and pushed down again to near ten before moving up and away.

In a live environment that order would have filled. Not complaining. Just noting your combine is slightly harder than live trading. Once volatility and range picks up a little in January that handicap will decline.

Have you considered improving your simulator to use simulated fills?

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nemeis45
delhi, delhi, india
 
 
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nemeis45 View Post
Hi,
i will be taking your combine program in Jan i guess
i have a few questions about your program

1) I see that your commissions in the combine are 2.50 USD per side.
what are the commissions for a live trader ? the same? . is there any volume based criteria like other FCM's and
is patak trading llc an FCM?

2) can a friend of mine pay the 200$ USD required for the 50k combine, or does it need to come from my own account

3) is the combine duration for 10 or 20 days? profit objective is different for both?

4) as per your website you become a senior trader when max trailing drawdown reaches 0
ex. for a 50k account , you become a senior trader, when your account crosses 52k USD ?
am i correct?

5) Once you reach 80% split after reaching 30k USD in profits, can you be moved back to 70% split if your profit comes below 30k USD?

6) can i do long term trades (not intra day) after building up my account /senior trader?

7) do you have a electronic trading floor i can join somewhere?

Thanks for your reply and patience!

Waiting for your reply.
A couple more Q's

Is the ninja trader free or fees will be deducted monthly from my account/or do i have to buy from vendor separately.
Suppose i am long at 100, 1 lot . market is at 99.80, i cut my 1 lot at 99.80 and hit 2 lot long again.
would you consider this averaging? or is it acceptable

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  #283 (permalink)
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Commodity View Post
having NT in the combine , is the good news.

do you offer NT in practice account too ? it seems still there is only T4 for practice period
are all bugs and issues with NT ,resolved ?
is there any plan to include EUREX popular instruments such as FGBL,FESX ?
your website was better before . now after changes it has a more complicated and less understandable appearance.

Commodity- NinjaTrader is currently only available in the Combine and practice. We do not offer it for new recruits (trial). As for the new site, I am sorry you are not happy with it. We are making improvements both on the back-end and front-end daily. I can assure you we are fully invested in making an incredible user experience for our traders at TST. We had to strip many things always and start building with what works and what the trader likes when we relauched. You WILL see improvements continually. That I promise you.

mp

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Commodity View Post
Also, is there any specific time / plan to add EUREX products ?

Commodity- Currently EUREX is only available at the funded level for T4 users. We are working toward getting this available to all traders. I will keep you posted if we have any changes.

mp

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MedianVelocity View Post
I am a little confused about how certain users say you prefer a specific trading style at Topstep.

Which of these styles do you prefer to see? The trader consistently trading for multiple 2-3 point moves on the ES doing many trades per day, or the trader who is more of a sniper waiting around for a couple solid 4 point + trade setups a day on average. If both traders were pulling in the same amount per week consistently... Why would it matter what their style is?

MedianVelocity- It does not matter. The Combine gives us the ability to find traders that can perform with the style they choose. It also allows you to create or develop your style. The main goal for anyone entering the Combine is to find a style that works. Having accountability in your trading allows you to hone your strategy and put yourself in a position where you are consistent profitable and disciplined with that trading style/strategy. When a trader does this in the Combine they put themselves in a position where they get noticed as they are meeting the rules (the Combine rules or their own custom rules) and profit target. Those that get noticed by meeting the objective get called up to trade at the funded level.

Basically, we have recuits that use the Combine for many things besides getting funded. Creating, testing, and tweaking their strategies is very popular. These traders are learning and growing as you learn the most in trading by DOING.

mp

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nemeis45
delhi, delhi, india
 
 
Posts: 59 since Dec 2013
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Got answers to most of my questions.
Just this

do you have a volume/profit based criteria for senior traders for commissions.
the 2.50 $ per side commission is significantly more than what i was being charged by my previous fcm.

maybe you dont have high volume traders. but shouldnt you lower commissions as volumes go up
( they are also higher for low volume traders compared to other fcm's)

Also can i trade Brent- wti spread at topsteptrader, after getting funded? (viz energy spreads)

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MedianVelocity View Post
I read through the rules a couple times. There is only one rule that I can see that pushes people more toward scalping with TST.

It's this one additional junior trader rule here: "I will stop trading for the day if my Realized Net P&L is greater than $350 and my Realized Net P&L has pulled back 50% off my high watermark (realized Net P&L high of the day)."

If your going for many small base hits, a couple bad trades in a row won't bring that rule up.

MedianVelocity- This does not push a trader towards scalping. It is a rule we have for Junior Trader (newly funded traders) to help them build their account brick by brick. The goal of trading is to build your account. This rule lets the trader know to shut it down. Keep the profits they have built for the day and live to fight/trade another day. We want our traders focusing on keeping the money in your pocket. Once you have graduated past the Junior level these (Junior) rules are removed.

I hope that helps.

mp

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nemeis45 View Post
Hi,
i will be taking your combine program in Jan i guess
i have a few questions about your program

1) I see that your commissions in the combine are 2.50 USD per side.
what are the commissions for a live trader ? the same? . is there any volume based criteria like other FCM's and
is patak trading llc an FCM?

2) can a friend of mine pay the 200$ USD required for the 50k combine, or does it need to come from my own account

3) is the combine duration for 10 or 20 days? profit objective is different for both?

4) as per your website you become a senior trader when max trailing drawdown reaches 0
ex. for a 50k account , you become a senior trader, when your account crosses 52k USD ?
am i correct?

5) Once you reach 80% split after reaching 30k USD in profits, can you be moved back to 70% split if your profit comes below 30k USD?

6) can i do long term trades (not intra day) after building up my account /senior trader?

7) do you have a electronic trading floor i can join somewhere?

Thanks for your reply and patience!

nemeis45- I was just informed you emailed support@topsteptrader.com with these questions. I hope they were able to help you. Feel free to post their reply if you would like.

Have a great New Year.

mp

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MedianVelocity View Post
I was testing out the trial... And there is one thing that bugs me a little. I placed a bid on the L2 and watched price push the size down to 6 at the price level, then size went back up around a hundred, and it came back and pushed down again to near ten before moving up and away.

In a live environment that order would have filled. Not complaining. Just noting your combine is slightly harder than live trading. Once volatility and range picks up a little in January that handicap will decline.

Have you considered improving your simulator to use simulated fills?

MedianVelocity- I like thorough analysis and I appreciate what you have noticed. We probably won't change this. We believe that if it is a tad harder at the Combine level this makes for better traders at the funded level. I would rather this be the case then the opposite. Trading at the funded level is difficult no matter where you go or if you fund yourself. Practice harder than you play is a motto in a lot of sports and professional fields. We believe the same.

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nemeis45 View Post
Got answers to most of my questions.
Just this

do you have a volume/profit based criteria for senior traders for commissions.
the 2.50 $ per side commission is significantly more than what i was being charged by my previous fcm.

maybe you dont have high volume traders. but shouldnt you lower commissions as volumes go up
( they are also higher for low volume traders compared to other fcm's)

Also can i trade Brent- wti spread at topsteptrader, after getting funded? (viz energy spreads)

nemeis45- As a funded trader at the Senior level you are able to negotiate many many things. Seniors are proven talent and proven talent has negotiating powers. I hope that answers your question.

mp

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nemeis45
delhi, delhi, india
 
 
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TopstepTrader View Post
nemeis45- As a funded trader at the Senior level you are able to negotiate many many things. Seniors are proven talent and proven talent has negotiating powers. I hope that answers your question.

mp

Yes. Thanks a ton!. Have a great new year ahead

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  #292 (permalink)
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
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TopstepTrader View Post
nemeis45- As a funded trader at the Senior level you are able to negotiate many many things. Seniors are proven talent and proven talent has negotiating powers. I hope that answers your question.

mp


Michael,

Your continuing presence on the site is appreciated. You instill confidence that you are a great bunch of
guys and run a top notch firm. As soon as I get a little cushion in my personal trading account to carry
some bills, I would like to split my time and take your combine for a spin and attempt to get some additional
funding. One can never be OVER FUNDED

Grazie for all you do


AJ
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nemeis45
delhi, delhi, india
 
 
Posts: 59 since Dec 2013
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Hi MP,

I was informed that daily stop loss limit would be reviewed once i make 15k USD in profits (as senior trader)
dont you think this is a bit unfair for 30k/50k accounts. since it would be easier to make this in a 100k/150k account.

shouldnt a cushion of 5k/10k be enough to increase the daily stop loss to 1.2k/1.5k or even 2k.
It wouldnt really matter if you can hit more size as senior trader if your daily stop limit remains the same.
Just a suggestion.
Eg. for crude noise level is generally 15-25 ticks. so with a 1k stop loss you can only really trade 1 lot, sometimes 2 if you're very sure.
making 15k usd would take a lot of time with 1 lot.
whereas a 150k account could do it in a short amount of time. (with 3k stop loss, can easily hit 3-4 lots)

Would be a lot better if cushion amount was less for 30k/50k combines.
atm it is same for all account sizes 15k usd

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nemeis45 View Post
Got answers to most of my questions.
Just this

do you have a volume/profit based criteria for senior traders for commissions.
the 2.50 $ per side commission is significantly more than what i was being charged by my previous fcm.

maybe you dont have high volume traders. but shouldnt you lower commissions as volumes go up
( they are also higher for low volume traders compared to other fcm's)

Also can i trade Brent- wti spread at topsteptrader, after getting funded? (viz energy spreads)

nemeis45- As a funded SENIOR trader you will be able to make request like these. We have not had any request for WTI spreading but this would be something that most likely would be approved.

mp

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tderrick View Post
Michael,

Your continuing presence on the site is appreciated. You instill confidence that you are a great bunch of
guys and run a top notch firm. As soon as I get a little cushion in my personal trading account to carry
some bills, I would like to split my time and take your combine for a spin and attempt to get some additional
funding. One can never be OVER FUNDED

Grazie for all you do

tderrick- I appreciate your comments. Thanks.. As for split time and doing the Combine this is perfectly fine but I do encourage you to watch where your focus is. Spreading it out over two accounts can make trading a bit more difficult for certain trading styles.

Looking forward to seeing you in the Combine soon. Happy New Year!

mp

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nemeis45 View Post
Hi MP,

I was informed that daily stop loss limit would be reviewed once i make 15k USD in profits (as senior trader)
dont you think this is a bit unfair for 30k/50k accounts. since it would be easier to make this in a 100k/150k account.

shouldnt a cushion of 5k/10k be enough to increase the daily stop loss to 1.2k/1.5k or even 2k.
It wouldnt really matter if you can hit more size as senior trader if your daily stop limit remains the same.
Just a suggestion.
Eg. for crude noise level is generally 15-25 ticks. so with a 1k stop loss you can only really trade 1 lot, sometimes 2 if you're very sure.
making 15k usd would take a lot of time with 1 lot.
whereas a 150k account could do it in a short amount of time. (with 3k stop loss, can easily hit 3-4 lots)

Would be a lot better if cushion amount was less for 30k/50k combines.
atm it is same for all account sizes 15k usd

nemeis45- As you will notice on the funded page: https://www.topsteptrader.com:443/funded once you become a Senior (for those that completed a $30k Combine) you are able to negotiate your loss limit right away, if you so choose. Reaching senior level is moving your account balance up to $1,500. We have this rule so those smaller account traders can increase their exposure if they so choose.

Lastly, and to make a quick point to your first statement about it being easier at the $110k/$150k level. There is a saying on the trading floor that goes, if a trader can't trade small then they can't trade big. Sometimes bigger accounts or accounts with larger loss limits give traders that are not ready to trade at that level or are not disciplined, more room to hang themselves. Just something we also have seen from time to time. Knowing when to stop trading and accept the losses that day and the discipline needed to do this can be developed small and should be developed at the smaller account level ($30k) if that is something the trader needs to work on.

mp

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nemeis45
delhi, delhi, india
 
 
Posts: 59 since Dec 2013
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Got it , 15k for increasing daily stop.
Thanks for being patient with all the questions.
Generally in the business its the other way around ( you asking the questions)
Do appreciate the effort.


TopstepTrader View Post
nemeis45- As you will notice on the funded page: https://www.topsteptrader.com:443/funded once you become a Senior (for those that completed a $30k Combine) you are able to negotiate your loss limit right away, if you so choose. Reaching senior level is moving your account balance up to $1,500. We have this rule so those smaller account traders can increase their exposure if they so choose.

Lastly, and to make a quick point to your first statement about it being easier at the $110k/$150k level. There is a saying on the trading floor that goes, if a trader can't trade small then they can't trade big. Sometimes bigger accounts or accounts with larger loss limits give traders that are not ready to trade at that level or are not disciplined, more room to hang themselves. Just something we also have seen from time to time. Knowing when to stop trading and accept the losses that day and the discipline needed to do this can be developed small and should be developed at the smaller account level ($30k) if that is something the trader needs to work on.

mp


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nemeis45 View Post
Got it , 15k for increasing daily stop.
Thanks for being patient with all the questions.
Generally in the business its the other way around ( you asking the questions)
Do appreciate the effort.

nemeis- We're always here to help. Have a great weekend.

mp

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  #299 (permalink)
 tderrick 
Nashville, Tennessee
 
Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker: AMP / CQG
Trading: NQ, YM and ES
 
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Posts: 1,588 since Sep 2010
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TopstepTrader View Post
tderrick- I appreciate your comments. Thanks.. As for split time and doing the Combine this is perfectly fine but I do encourage you to watch where your focus is. Spreading it out over two accounts can make trading a bit more difficult for certain trading styles.

Looking forward to seeing you in the Combine soon. Happy New Year!

mp


I will take your advice to heart. I'll put back a little extra cash during the next few months
for living expenses, then switch accounts and give the combine a whirl.

This would allow me to just trade normally. Thank you

Also, starting with the 30k account would keep my RR thinking in line with my current trading style.

We have a plan.

Barring no major drawdown period, you should see me by warmer weather

danke


AJ
Nashville, Tennessee


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  #300 (permalink)
 Vincent Vega 
Beer Sheva,Israel
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Ampfutures/CQG
Trading: TF,6E,CL,YM,NQ
 
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Posts: 177 since Sep 2011
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A question please.
If i made the combine profit target in less then 10 or 20 days,
can i send it for evaluation or i should continue trading
all the combine days(10/20 days)?

Thank you.

“Only one who devotes himself to a cause with his whole strength and soul can be a true master. For this reason mastery demands all of a person.”--Albert Einstein
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