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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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  #341 (permalink)
Birmingham UK
 
 
Posts: 336 since May 2014
Thanks: 7 given, 64 received

Okay looked into the rules some more, most are actually fine with me :-

I don't trade at that time, I don't over night hold, I don't hold over major news events ( I sometimes miss 1, I'd have to be more careful ), I always run a SL.

But......

I trade GBPAUD and DAX I see DAX isn't available not checked GPBAUD side yet.
Although I only run a 15-25SL tops, I do as part of my strategy take a 2nd position frequently, but not always @-7 to -10 area, I could not do it, but it would reduce my profits, would this be allowed or OUT ??

Also for the Combine, there is a Deposit $190 what's that, do I have to pay that in order to do 1 ??


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  #342 (permalink)
Manila, Philippines
 
Experience: Beginner
Platform: CQG,Bookmap,Sierra Chart
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Posts: 59 since Apr 2014
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any plans to use/integrate TTNET to TST platforms? as a scalp trader in Asia, it would be better to be able to connect to the nearest servers to minimize latency. how about X_TRADER as a platform? any plans to include them? TIA

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  #343 (permalink)
Chicago, IL
 
Experience: Advanced
Platform: TSTrader, NinjaTrader...
Trading: ALL- Futures, Forex, Equities
 
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Turveyd View Post
Okay looked into the rules some more, most are actually fine with me :-

I don't trade at that time, I don't over night hold, I don't hold over major news events ( I sometimes miss 1, I'd have to be more careful ), I always run a SL.

But......

I trade GBPAUD and DAX I see DAX isn't available not checked GPBAUD side yet.
Although I only run a 15-25SL tops, I do as part of my strategy take a 2nd position frequently, but not always @-7 to -10 area, I could not do it, but it would reduce my profits, would this be allowed or OUT ??

Also for the Combine, there is a Deposit $190 what's that, do I have to pay that in order to do 1 ??


Thanks

Turveyd- The British Pound (6H) is a permitted product in the Combine. As for the Combine deposit, yes all traders that enter must pay this.

futures.io (formerly BMT) elite's receive a discount on their first Combine.

mp

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  #344 (permalink)
Chicago, IL
 
Experience: Advanced
Platform: TSTrader, NinjaTrader...
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jerbersoft View Post
any plans to use/integrate TTNET to TST platforms? as a scalp trader in Asia, it would be better to be able to connect to the nearest servers to minimize latency. how about X_TRADER as a platform? any plans to include them? TIA

jerbersoft- As demand increases we will add more platforms. X Trader is on our list of platforms to add. Due to demand it is a lower priority at this time.

mp

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  #345 (permalink)
Birmingham UK
 
 
Posts: 336 since May 2014
Thanks: 7 given, 64 received


TopstepTrader View Post
Turveyd- The British Pound (6H) is a permitted product in the Combine. As for the Combine deposit, yes all traders that enter must pay this.

futures.io (formerly BMT) elite's receive a discount on their first Combine.

mp


A bit odd, everything else is free free free free free, but you have to pay to basically try out for a live account.

Anyone know anyone on here who's passed and making money from them ??

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  #346 (permalink)
Site Administrator
Manta, Ecuador
 
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Turveyd View Post
A bit odd, everything else is free free free free free, but you have to pay to basically try out for a live account.

Anyone know anyone on here who's passed and making money from them ??

If you would spend a few minutes searching you will find all your questions answered. There are probably 100+ journals on futures.io (formerly BMT) with traders in Combines, many of which were funded over the years.

On your "free, free, free" comment, I admit I laughed because I relate it to futures.io (formerly BMT). I created the Elite Member system on futures.io (formerly BMT) to prevent the site from becoming like other forums, overrun with trolls who have no vested interest in the community they are posting in. On futures.io (formerly BMT), almost everyone that is an active member is an Elite Member which means they invested money in the community, and that goes a long way to weed out all of those who aren't serious. That is also why there is more Elite-only content than non-Elite content on the site, tucked away and hidden from view from non-Elite Members.

Anyway, the point is simply that if TST had a "free" model, they would be overwhelmed with people who have no business trading and that don't treat it seriously. Not to mention their system could then be gamed since you have no monetary investment in your success. A terrible idea that has been covered before many times on futures.io (formerly BMT).

Mike

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  #347 (permalink)
Site Administrator
Manta, Ecuador
 
Experience: Advanced
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Posts: 48,942 since Jun 2009
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@Turveyd,

After reviewing your journal:



I would strongly, strongly advise you against doing a combine at this time. You have a large number of problems with your trading that you should attempt to resolve on your own before doing and then failing a combine.

I do commend you for having a journal. I will post a comment in your journal with something that may help you in a moment.

Mike

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  #348 (permalink)
Birmingham UK
 
 
Posts: 336 since May 2014
Thanks: 7 given, 64 received


Big Mike View Post
If you would spend a few minutes searching you will find all your questions answered. There are probably 100+ journals on futures.io (formerly BMT) with traders in Combines, many of which were funded over the years.

On your "free, free, free" comment, I admit I laughed because I relate it to futures.io (formerly BMT). I created the Elite Member system on futures.io (formerly BMT) to prevent the site from becoming like other forums, overrun with trolls who have no vested interest in the community they are posting in. On futures.io (formerly BMT), almost everyone that is an active member is an Elite Member which means they invested money in the community, and that goes a long way to weed out all of those who aren't serious. That is also why there is more Elite-only content than non-Elite content on the site, tucked away and hidden from view from non-Elite Members.

Anyway, the point is simply that if TST had a "free" model, they would be overwhelmed with people who have no business trading and that don't treat it seriously. Not to mention their system could then be gamed since you have no monetary investment in your success. A terrible idea that has been covered before many times on futures.io (formerly BMT).

Mike

Difference from a one off fee to something that may take 5 attempts costing $1000, but yes you do have to limit time wasters.

DAX would swing it, mainly best mover and they put in protection with delays from HFT trades I believe.

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  #349 (permalink)
Site Moderator
Portland, Oregon
 
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Turveyd View Post
Difference from a one off fee to something that may take 5 attempts costing $1000, but yes you do have to limit time wasters.

DAX would swing it, mainly best mover and they put in protection with delays from HFT trades I believe.

Still better to spend $1000 attempting the combine and realize you can't trade, then to blow a $10k-$25k account out to come to the same conclusion.

TST combine provides you a way to mix sim and real. Your deposit means that you have skin in the game more then demo, but less then funding an account.

If I could do it over again I would have done TST first.

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  #350 (permalink)
Birmingham UK
 
 
Posts: 336 since May 2014
Thanks: 7 given, 64 received



tturner86 View Post
Still better to spend $1000 attempting the combine and realize you can't trade, then to blow a $10k-$25k account out to come to the same conclusion.

TST combine provides you a way to mix sim and real. Your deposit means that you have skin in the game more then demo, but less then funding an account.

If I could do it over again I would have done TST first.

I ownly started with the $300 to fund the account then added $100 when needed ( frequently at first ), I'm around Break Even here, not bad for 9years of grief

Sure be worth it, if I can withdraw $5000 per month and keep my own account growing at the same time.


Need a holiday first though!

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