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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)

  #661 (permalink)
Trading Apprentice
Amman/Jordan
 
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bobwest View Post
Lol.

What a concept, their money, their rules. Dang.

It's a free country -- those who don't want to play, don't have to.

PS, they had something like 370 funded traders in 2015. Some people did play it OK.

Bob.

Just 370 , my broker is funding tens of thousands of traders .

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  #662 (permalink)
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Surprise View Post
Just 370 , my broker is funding tens of thousands of traders .

You can't compare apples and lemons

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  #663 (permalink)
Market Wizard
Sarasota FL
 
Futures Experience: Intermediate
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Surprise View Post
Just 370 , my broker is funding tens of thousands of traders .

"Funding" in the sense of providing the actual money for them to trade? Or just being their broker so they can trade their own capital?

I don't really think your broker is giving trading capital to tens of thousands of traders, or to any traders. If so, that isn't brokerage, it's proprietary trading, which is what TST is doing.

Bob.

Note: I will bow out of this discussion; this is the TST Ask Me Anything thread, for TST to answer questions. I should have posted in the TST vendor thread instead: https://futures.io/vendors-product-reviews/11360-anybody-heard-topsteptrader-review.html

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  #664 (permalink)
Trading for Fun
Boston, MA
 
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Hoag View Post
mangolassi,

Thank you for the suggestion. We are looking at other markets and asset classes and appreciate any and all suggestions.

Hoag

Thanks. The Nikkei Mini on the Osaka is heavily traded, with the volume rivaling the ES. I think offering these sorts of liquid Asian instruments will give you a broader customer base in the USA, because of the fact that there are lots of people working 9-5 jobs and trading in the evening. I know for a fact I would register for topsteptrader if the N225M was available.


Last edited by mangolassi; January 29th, 2016 at 05:07 PM.
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  #665 (permalink)
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6E trading hour

Hello!

I am planning take the 14 day trial now in february and then my first combine, and luckily the only one, in march.

I saw the explanation about trading hours in TST website but I would like to confirm

Can I trade 6E from 3:30 PM CT to 7:30 PM CT ? It is considered a permissible time for combine and funded traders?

Best regards.

rcf.

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  #666 (permalink)
 Vendor: www.topsteptrader.com 
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BarfMcGee View Post
One more question, does the weekly loss limit in the FTP apply to a calendar week or 5 trading days? For example, if hypothetically I had lost 1k yesterday, Fri. 1/22, would I then have to wait until, Fri. 1/29, to start trading again or would I be able to start again on Monday 1/25? Hopefully, you understand what I'm asking.

The weekly loss limit runs Monday through Friday. If you were to near your weekly loss limit on Wednesday, you would want to wait until just the following Monday to start trading again. Calendar week, not rotating week.

Trade well,

Hoag

If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at support@topsteptrader.com or 888.407.1611.
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  #667 (permalink)
 Vendor: www.topsteptrader.com 
Chicago Illinois
 
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rcfarias View Post
Hello!

I am planning take the 14 day trial now in february and then my first combine, and luckily the only one, in march.

I saw the explanation about trading hours in TST website but I would like to confirm

Can I trade 6E from 3:30 PM CT to 7:30 PM CT ? It is considered a permissible time for combine and funded traders?

Best regards.

rcf.

rcfarias,

We do not allow any positions to be held while the market is closed so you would be able to begin trading the 6E at 5:00 PM CT. through 3:10 PM CT the following day.

Trade well, we are looking forward to your success.

Hoag

If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at support@topsteptrader.com or 888.407.1611.
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  #668 (permalink)
Elite Member
Nashville TN/ USA
 
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BarfMcGee View Post
So I've basically passed my combine (I have one more day to trade in a 50k and I'm currently sitting @53.6k). My question is what is there to expect after this point? I think I would go to the Funder trader prep. I see that in the FTP you have a weekly loss limit of 1k. Does this count from the high water mark? Also, does it end immediately when you hit 1k profit or do you have to trade for 10 days here as well. I'm trading only ES right now in the combine and while I like the volatility, frankly I haven't traded great in the combine but the pumped vol has helped me make up for mistakes, I don't know if I want to trade with a 1k weekly stop bc that only gives me 20 pts in a market that can move 60 in a day right now. Is there any way I could delay the funded trader prep until a time that allows me more wiggle room (Although, I'm not sure I want to do this because I'm pretty sure I could pass more combines etc.)? After I pass this combine are my fee's waived for future combines if I have to return?

Thanks,
Barf

Edit: Just saw there is a trailing max drawdown on the funded trader prep so that answers that question.


Hoag View Post
Barf,

Congratulations on succeeding in your Combine. We look forward to your continued success in the FTP and the Funded Account.

The weekly loss limit does not follow the high water mark for the week. In the 50k account, the weekly loss limit remains $1,000 below the account balance at the beginning of the week. It does not trail through the week.

In order to get to the Funded Account, you will have to adhere to the rules as they stand. It is really all about managing risk and being patient. Be confident in your strategy and stick to it. Look for the better opportunities, you know you can do this. You are required to trade 10 days in the FTP even if you reach your profit target before the tenth trading day.

If you don't succeed in this FTP, Future Combine fees are not waived but no matter what, the opportunity is here. Go for it.

I hope this answered your questions and thank you for the opportunity to discuss this with you. I hope to talk to you in person very soon.

Hoag

So I can say that I unofficially passed my FTP (account stands at ~1300 going into my final day tomorrow). I can guarantee you I won't lose more than 2 ES pts on whatever I put on tomorrow lol and no more trades today bc well we just dropped 35 pts in 50 minutes and I'm not going to play with fire. I hope that isn't against the rules, I'm sure it's not, but I'm posting this I guess just to let people know it is possible to pass the combine and the rules aren't totally ridiculous/ unbeatable.

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  #669 (permalink)
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BarfMcGee View Post
So I can say that I unofficially passed my FTP (account stands at ~1300 going into my final day tomorrow). I can guarantee you I won't lose more than 2 ES pts on whatever I put on tomorrow lol and no more trades today bc well we just dropped 35 pts in 50 minutes and I'm not going to play with fire. I hope that isn't against the rules, I'm sure it's not, but I'm posting this I guess just to let people know it is possible to pass the combine and the rules aren't totally ridiculous/ unbeatable.

Congratulations! So, now you're a funded trader with 50K! Right?

Wish you the best!

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  #670 (permalink)
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rcfarias View Post
Congratulations! So, now you're a funded trader with 50K! Right?

Wish you the best!

I still have to not lose more than ~300 tomorrow. Other than that, yes, I will assume I get funded...


Last edited by BarfMcGee; February 3rd, 2016 at 11:01 AM.
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