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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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  #431 (permalink)
New Zealand
 
 
Posts: 92 since Jun 2013
Thanks: 52 given, 30 received

Considering the variety of platforms that one can choose from to complete the combine, does this vary the results unfairly by any chance? The fill algorithms differ on all platforms so would that not unbalance the results?

For example, some fill engines may fill orders faster than others..

How do you deal with this?

Thanks,

Erfan.

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  #432 (permalink)
Sydney, NSW, Australia
 
Experience: Intermediate
Platform: NinjaTrader with Jigsaw DOM
Trading: CL, 6E, ES, Piano
 
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Posts: 263 since Nov 2014
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I am curious as to whether topsteptrader has considered introducing s5 trader as a platform option? Would this be possible in any way? I think it is a great platform and it is able use the jigsaw DOM which is extremely important to me, otherwise I am limited to ninjatrader.

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  #433 (permalink)
London, UK
 
Experience: Master
Platform: sierra chart, Jigsaw Trading, Bookmap
Trading: 6E futures, Cable
 
Posts: 93 since Aug 2012


What license key would be needed to do a combine please? My NT license key has expired and I understand that Topstep provides combines user with a key, so no need to pay for a live NT key in that case.

Many thanks

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  #434 (permalink)
Legendary Amateur Trader
Hanover, Germany
 
Experience: Beginner
Platform: NinjaTrader
Trading: ES
 
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dom64 View Post
What license key would be needed to do a combine please? My NT license key has expired and I understand that Topstep provides combines user with a key, so no need to pay for a live NT key in that case.

Many thanks

you'd receive that information after you purchased a combine.
see this site for further info: License Key Information ? Help & Feedback Center

see also here: http://help.topsteptrader.com/knowledgebase/articles/327766-ninjatrader-connection-instructions-futures

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  #435 (permalink)
Chicago, IL
 
Experience: Advanced
Platform: TSTrader, NinjaTrader...
Trading: ALL- Futures, Forex, Equities
 
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Posts: 246 since Feb 2013
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dom64 View Post
What license key would be needed to do a combine please? My NT license key has expired and I understand that Topstep provides combines user with a key, so no need to pay for a live NT key in that case.

Many thanks

dom64 - You are correct, we will provide you with a free NinjaTrader license key to use in the Combine. You'll receive the license key in your Combine Account Information email.

mp

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  #436 (permalink)
New Zealand
 
 
Posts: 92 since Jun 2013
Thanks: 52 given, 30 received

Hi there,

I am seriously considering a continuous custom combine, however there is one remaining issue that I just noticed which will put me out of considering this.

It is stated on your website that as funded traders we can not hold positions through many different new releases. But if I undertake a custom combine and am successful while holding through these releases, does it not make sense to be able to hold positions through news when funded also? As it would essentially alter the strategy/trading plan used to successfully complete the combine in the first place?

I do not understand why you can hold through news during the combine, but then the rules are changed once funded?

If I can hold through news once funded then I would like to start a continuous custom combine, otherwise I will not be able to.

Please clarify,

thanks.

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  #437 (permalink)
Chicago, IL
 
Experience: Advanced
Platform: TSTrader, NinjaTrader...
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nourozi View Post
Hi there,

I am seriously considering a continuous custom combine, however there is one remaining issue that I just noticed which will put me out of considering this.

It is stated on your website that as funded traders we can not hold positions through many different new releases. But if I undertake a custom combine and am successful while holding through these releases, does it not make sense to be able to hold positions through news when funded also? As it would essentially alter the strategy/trading plan used to successfully complete the combine in the first place?

I do not understand why you can hold through news during the combine, but then the rules are changed once funded?

If I can hold through news once funded then I would like to start a continuous custom combine, otherwise I will not be able to.

Please clarify,

thanks.


nourozi- If our Combine participants chose to hold positions into economic releases, most of them find that it is very difficult if not impossible to profit from it with any consistency, is more risk than it is worth, and is more gambling than trading. Most traders need to find this out for themselves, so we allow it in the Combine where they aren't risking thousands of dollars to learn this lesson.

When a trader is successful in the Combine and holding positions into releases is only part of their strategy, they would have the opportunity to be funded and when enough equity is built in the account, holding into releases may be approved.

I hope that helps,

Michael

If you have any questions about our products or services at TopstepTrader, please send me a Private Message or use the FIO "Ask Me Anything" thread.
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  #438 (permalink)
Bristol, VA
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Rithmic
Trading: CL, ES
 
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Posts: 474 since Feb 2013
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Hello Michael,

I have a small group of colleagues/students that maintain contact throughout the trading day via Skype. Two of my students recently passed the combine, but were asked to go through the live trader prep. Both passed the continuous 50K combine. I am transitioning from my live account to a TopStep account and hope to complete a continuous combine as they have, thus I have a few inquiries...

1. Can you share some specific reasons as to why some people might be asked to go through the live trader prep?

2. What percentage of those that pass the combine are asked to also go through the live trader prep?

3. Once the TopStep Team has approved someone for funding, how long does it normally take to get his/her account?

4. How many active funded traders do you currently have?

5. What percentage of traders that make it to the funded traders level are able to maintain at that level, and what percentage fall back to the combine level?

6. Is there a limit to how many funded traders your equity partner will fund? There seems to be many more people passing the combine as of late.

Thank you,
James D.

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  #439 (permalink)
Portland Oregon, United States
 
Experience: Beginner
Platform: Ninjatrader®
Broker: CQG, Kinetick
Trading: Gameplay Klownbine® Trading of Globex
 
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Posts: 1,346 since Jul 2009
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Success in trading is compatible with skepticism and pragmatism.. not blind faith, just because everyone else believes something that you sincerely want to believe.

What is revealing is that the very simple questions that I raised about the fundamental premise (and promise) of this operation were never answered.





Of course, in the words of Humpty Dumpty Humphrey... (see below)

"If we don't loosen up some money, this sucker is going down." -GW Bush, 2008
“Lack of proof that something is true does not prove that it is not true - when you want to believe.” -Humpty Dumpty, 2014
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  #440 (permalink)
Site Administrator
Manta, Ecuador
 
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Zondor View Post
Success in trading is compatible with skepticism and pragmatism.. not blind faith, just because everyone else believes something that you sincerely want to believe.

What is revealing is that the very simple questions that I raised about the fundamental premise (and promise) of this operation were never answered.





Of course, in the words of Humpty Dumpty Humphrey... (see below)

Luckily @Zondor, no one forces you to use their service. You are also free to start your own service to address any short coming you find in the marketplace. Instead of just complaining, I mean, you can be productive.

I've seen some traders blow six figure accounts in days. I've also seen others take twenty combines from TST.

Having witnessed this macro view, I think TST helps more than it hurts. If I didn't feel that way then I wouldn't allow them to be a site sponsor. They certainly aren't for everyone. I don't agree with all their decisions. But like I said, I do believe they help people overall.

You might try Elite Trader if you thrive on negativity. Leave it off futures.io (formerly BMT). Just move on already.

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