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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)

  #671 (permalink)
Market Wizard
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BarfMcGee View Post
One I still have to not lose more than ~300 tomorrow. Other than that yes I will assume I get funded...

Nicely done.

Bob.

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  #672 (permalink)
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hello my question is I can not use FXCM forex data when I configured ninja trader according to topsteptrader.. Do you know how may I add FXCM demo account to ninjatrader configured to work with topsteptrader? It was an option before in the account connections tab, now it gone..

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  #673 (permalink)
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Web plataform


There are any web based plataform available in TST combine?

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  #674 (permalink)
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Credit where Credit is due

Nice News and one that does need to be shared

From Topstep Trader.....
In the month of January, the TopstepTrader team made it even simpler to earn a Funded Account™ by eliminating some of the Combine rules. The proof is in the pudding, this month 68 people have been funded more traders than ever before, and these guys and gals are killing it!

Simplicity is the key and Topstep Trader....Good on you guys for listening and making it simpler and achievable goals for people.


Sharmas

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  #675 (permalink)
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New question, after seeing 68 people got funded last month, is there a cap on the number of traders you will take on? Obviously there has to be some kind of number bc you guys dont have unlimited capital. Are you anywhere close to this number?

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  #676 (permalink)
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BarfMcGee View Post
New question, after seeing 68 people got funded last month, is there a cap on the number of traders you will take on? Obviously there has to be some kind of number bc you guys dont have unlimited capital. Are you anywhere close to this number?

From Q/A session I remember there is no cap.

And there is reason :

It is like anything in else in life. Only a few amass fortunes.
Only few become really competent professional men or achieve
real success in any line of endeavor.

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  #677 (permalink)
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BarfMcGee View Post
New question, after seeing 68 people got funded last month, is there a cap on the number of traders you will take on? Obviously there has to be some kind of number bc you guys dont have unlimited capital. Are you anywhere close to this number?

+1 Good question .

I assume they use the same capital for many traders , for example they use $50k to fund multiple traders with 50K each , thats because you are not allowed to lose more than the profits you have made in the 10 days "build your own cushion period" so technically they dont really fully fund a trader with 50K or whatever , your max DD is capped at what you have made during the 10 days "build your own cushion period" plus the profits you make after that ofcourse , which is in reality is your own money not theirs , they just take care of daytrading margin requirements which is just $500 per lot !


Last edited by Surprise; February 8th, 2016 at 03:48 AM.
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  #678 (permalink)
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On Tuesday, February 23rd (rescheduled) at 4:30PM Eastern US, TopstepTrader will be presenting a webinar titled "The Path to Funding: How to Stop Risking your Own Money and Start Leveraging Others" and covering these topics:


- Whether or not you're a good candidate for funding?
- If your trading style or strategy has what it takes to become funded?
- Who our funded traders are, how they're performing and what separates them from the rest
- Answers to any questions you have about being evaluated, trading successfully, and earning a funded account. Nothing is off limits.
- How you can get a funded account for as little as $1

You can register for this webinar here (space is limited):
http://on.futures.io/n69c6

You can use this thread to ask questions about TopstepTrader and the webinar. You can find TopstepTrader on their website here:
http://www.topsteptrader.com

TopstepTrader is a FIO sponsor and this is a promotional webinar covering their product and services.

Mike

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Last edited by Big Mike; February 17th, 2016 at 12:07 PM.
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  #679 (permalink)
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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.

Actually, it is not their money. It is yours. The combine money is non-refundable if you pass the combined. So technically speaking, you are self funded.

I did look into it TST last year or maybe 2 years ago and come to the conclusion that TST has 0 risk. Their "risk" money is from the combines. The only thing is they put up is the margin and nothing more. Since you cannot carry the position over night, TST has 0 risk. Occasionally if the market move really fast and the trader is loaded up at max contracts allow, then yes, they might loss a tick or two on slipperage.

The "interest" they charged for just using margin is unbelievable high that make borrowing from loan shark a bargain.

If YOU are able to get 6% in 10 days (2 weeks), you are better trading your own account. If you have enough money to put up with a combine, you have enough money swing trade option.

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  #680 (permalink)
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There are so many factual misstatements in the post above that it's not very easy to know where to start.



cw30000 View Post
TST has 0 risk.

If someone qualifies with a $150k Combine, starts trading a funded account with 3 contracts and loses nearly $3,000 on each of the first three days they trade, TST are nearly $9,000 down on the deal, and I'm rather surprised to see that referred to as "zero risk".



cw30000 View Post
If YOU are able to get 6% in 10 days (2 weeks), you are better trading your own account.

And if you have enough funds to open your own account, you mean, surely? You seem to be ignoring the fact that TST's funding option is aimed at people who don't.

It doesn't have to be 10 days. You can take as long as you want or need. (And even when there were 10-day Combine available, they didn't need to be 10 consecutive days anyway, so I don't know where the "2 weeks" comes from.)



cw30000 View Post
If you have enough money to put up with a combine, you have enough money swing trade option.

Not on this planet, I'm afraid. (Combine-fees start at $95.)



cw30000 View Post
The "interest" they charged for just using margin is unbelievable high that make borrowing from loan shark a bargain.

I don't even know how to start to respond to that one!

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