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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)

  #31 (permalink)
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David_R View Post
Mike.

I was wondering why the IDT will now be $500 with a 10 day 50k combine included instead of just offered independantly. Additionally, and more importantly, why is the increased profit split of 65/35 being eliminated? Wasn't it already reduced from 70/30?

D

David_R- IDT and other educational courses are partnerships we make with outside educators. The cost of $500 is what Ray charges on his site. We will be dropping the profit split for all educational courses and adding a complimentary Combine invite on all our educational courses (more to come) offered by our outside educators. This will allow traders to get an education of their choice and a shot for funding at the same time. The better profit split does nobody any good if that trader cannot get live and stay live. Having sound education and the Combine together will give that trader the best shot to get themselves on a funded account and stay profitable.

mp

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  #32 (permalink)
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TopstepTrader View Post
David_R- IDT and other educational courses are partnerships we make with outside educators. The cost of $500 is what Ray charges on his site. We will be dropping the profit split for all educational courses and adding a complimentary Combine invite on all our educational courses (more to come) offered by our outside educators. This will allow traders to get an education of their choice and a shot for funding at the same time. The better profit split does nobody any good if that trader cannot get live and stay live. Having sound education and the Combine together will give that trader the best shot to get themselves on a funded account and stay profitable.

mp

Thanks, makes sense.

D

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  #33 (permalink)
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NinjaTrader Update


Hi Mike,

I was wondering if we could get an update on how things are going with NinjaTrader. Is it still on track to be available at the end of the month?

Ryan

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  #34 (permalink)
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ryanmcc15 View Post
Hi Mike,

I was wondering if we could get an update on how things are going with NinjaTrader. Is it still on track to be available at the end of the month?

Ryan

Ryan- Our company gets an update today as we are working with the back-end provider and at the mercy of their programmers. Last I heard it looked like things would be ready in the coming weeks.

We are just as anxious as anyone to add the NT platform to our Combine. I will update this thread when I hear more.


Have a great weekend,

mp

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  #35 (permalink)
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TopstepTrader View Post
Ryan- Our company gets an update today as we are working with the back-end provider and at the mercy of their programmers. Last I heard it looked like things would be ready in the coming weeks.

We are just as anxious as anyone to add the NT platform to our Combine. I will update this thread when I hear more.


Have a great weekend,

mp


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  #36 (permalink)
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tderrick View Post
Take your time brother.... I would rather have it right, not just have it.

Exactly what I was thinking...

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  #37 (permalink)
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, perhaps in the next AMA session you could go through all the structure and price changes that are busy happening, and the thinking behind them:
- Price increases
- No more increased profit split for those completing the IDT
- No more member discount for combines
- Squawk radio no longer free
- Can a combine still be rolled over?

thanks.

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  #38 (permalink)
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DarkPoolTrading View Post
, perhaps in the next AMA session you could go through all the structure and price changes that are busy happening, and the thinking behind them:
...
- No more increased profit split for those completing the IDT
....

Very interesting indeed, since I took the IDT course myself a couple of months ago and now I'm wondering whether or not the former profit split of max. 80/20 will still apply to me after successfully passing the Combine and the required account cushion has been build...


Edit: I just noticed Melissa's answer to my question here: https://futures.io/vendors-product-reviews/11360-anybody-heard-topsteptrader-review-39.html

So, former graduates of the IDT course will still receive the increased profit split of max. 80/20.

Thanks for clarifying.


Last edited by Daytrader999; March 15th, 2013 at 04:03 PM.
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  #39 (permalink)
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Michael,

I hope you still check this thread to answer questions.

Is it possible to trade for TST out of Asia after passing the Combine? I'm thinking of retiring to Thailand and trading for you out of there.

"The mind is its own place, and in itself can make a heaven of hell, a hell of heaven." - Milton
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  #40 (permalink)
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DarkPoolTrading View Post
, perhaps in the next AMA session you could go through all the structure and price changes that are busy happening, and the thinking behind them:
- Price increases
- No more increased profit split for those completing the IDT
- No more member discount for combines
- Squawk radio no longer free
- Can a combine still be rolled over?

thanks.

DarkPoolTrading and other futures.io (formerly BMT) members-

Just wanted to clarify a few things as I think there may be a bit of confusion. We have recently updated our website, changed the Membership program and launched TopstepTrader University (wahoo!) (including our new educational program: College of Trader Development).

All website changes are completed. If you are having any problems viewing the website, please clear your cache.
The cost of the Combine has NOT changed. The 10-Day and 20-Day Minimum Combine, with the standard Combine Objective (Profit Target and Scouting Criteria) is the same as it has been. There are no plans to increase the cost of the Combine.


Squawk Radio and Breaking News Service

The Squawk Radio and Breaking News Service is FREE to anyone enrolled in the 2-Week Trial, the Practice Trading Subscription, and the Combine. For those who are not enrolled in the program, a 2-Week Squawk Radio Trial is available for free. If someone who is not part of our program wishes to subscribe to the Squawk Radio, the cost is $65/month (which was just lowered from $100/month)

Membership Program redesigned into a Practice Trading Program

In response to recruit feedback, our Membership program has been restructured into a Practice program. Many recruits weren’t able to fully utilize membership benefits (discounts, coaching, etc.) because they were focusing more on practicing and developing trading skills. To account for this concern, we are lowering the subscription cost from $150/month to $100/month.

Practice Account for a Combine
To clarify, there is a difference between the Practice Trading Subscription and “adding” a practice account to a Combine. When adding a practice account to a Combine, the practice account is available only from the time the Combine begins to ends. Also, when adding a practice account, Trade Reports are not generated for the practice account, unlike with the Practice Trading Subscription. The cost for adding a practice account has always been and continues to be $30 for a 10-Day Minimum Combine and $50 for a 20-Day Minimum Combine.

Intuitive Development for Traders Changes
As for the changes for Intuitive Development for Traders .“IT and other educational courses we offer are through partnerships with outside educators. The cost of $500 is what Ray currently charges on his site (the price of IDT on his website will be increasing to $997).

The profit split has been dropped from all education courses, and instead we have added a complimentary 10-Day $50K Minimum Combine (a $175 value). This allows traders to get an education of their choice and a shot for funding at the same time. The better profit split does nobody any good if that trader cannot get live and stay live. Having sound education and the Combine together will give that trader the best shot to get themselves on a funded account and stay profitable. Of course, anyone who previously took IDT will still receive the increased profit split.

mp

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