TopstepTrader's Michael Patak (Founder) - Ask Me Anything (AMA) - futures io
futures io futures trading



TopstepTrader's Michael Patak (Founder) - Ask Me Anything (AMA)


Discussion in Trading Reviews and Vendors

Updated by TopstepTrader
      Top Posters
    1. looks_one TopstepTrader with 219 posts (564 thanks)
    2. looks_two bobwest with 102 posts (253 thanks)
    3. looks_3 Big Mike with 45 posts (159 thanks)
    4. looks_4 emini2000 with 36 posts (16 thanks)
      Best Posters
    1. looks_one Big Mike with 3.5 thanks per post
    2. looks_two DarkPoolTrading with 2.8 thanks per post
    3. looks_3 TopstepTrader with 2.6 thanks per post
    4. looks_4 bobwest with 2.5 thanks per post
    1. trending_up 245,733 views
    2. thumb_up 1,837 thanks given
    3. group 256 followers
    1. forum 1,113 replies
    2. attach_file 35 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 100,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

TopstepTrader's Michael Patak (Founder) - Ask Me Anything (AMA)

(login for full post details)
  #671 (permalink)
Site Moderator
Sarasota FL
 
Experience: Intermediate
Platform: Sierra Chart
Trading: ES, YM
 
bobwest's Avatar
 
Posts: 5,750 since Jan 2013
Thanks: 44,787 given, 19,416 received


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.

Visit my futures io Trade Journal Reply With Quote
The following 2 users say Thank You to bobwest for this post:

Can you help answer these questions
from other members on futures io?
TOS Custom Implied Volatility Rank Watchlist/Scanner Column
ThinkOrSwim
Too many brokers?
Traders Hideout
Cumulative Bid/Ask Chart resets after 2Billion
MultiCharts
portfolio maestro manage my strategies
TradeStation
FYI plot bug & workaround: changing color or width is delayed 1 bar
EasyLanguage Programming
 
Best Threads (Most Thanked)
in the last 7 days on futures io
Life sacrifice loneliness trading futures
88 thanks
Is anyone actually making money?
50 thanks
Are sharks watching on the other side?
38 thanks
What VPC configuration/specification do you use for TS?
34 thanks
Spoo-nalysis ES e-mini futures S&P 500
25 thanks
 
(login for full post details)
  #672 (permalink)
Irvine
 
Experience: Intermediate
Platform: ninja
Trading: emini
 
Posts: 4 since Jan 2016
Thanks: 2 given, 1 received

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..

Reply With Quote
 
(login for full post details)
  #673 (permalink)
Flórida
 
Experience: None
Platform: Metastock, NinjaTrader
Trading: Emini, stocks
 
Posts: 11 since Dec 2015
Thanks: 13 given, 5 received


There are any web based plataform available in TST combine?

Reply With Quote
 
(login for full post details)
  #674 (permalink)
Auckland
 
Experience: Advanced
Platform: Ninja Trader
Broker: Zen-Fire
Trading: CL and ES
 
Posts: 757 since Apr 2010
Thanks: 3,787 given, 725 received

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

Visit my futures io Trade Journal Reply With Quote
The following 4 users say Thank You to sharmas for this post:
 
(login for full post details)
  #675 (permalink)
Nashville TN/ USA
 
Experience: Advanced
Platform: IB
Broker: IB
Trading: ES
 
BarfMcGee's Avatar
 
Posts: 905 since Jan 2015
Thanks: 400 given, 965 received

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?

Reply With Quote
The following 2 users say Thank You to BarfMcGee for this post:
 
(login for full post details)
  #676 (permalink)
Tallinn, Estonia
 
Experience: Beginner
Platform: SC
Trading: NAS100
 
lemons's Avatar
 
Posts: 931 since Nov 2010
Thanks: 1,820 given, 2,238 received


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.

Reply With Quote
The following user says Thank You to lemons for this post:
 
(login for full post details)
  #677 (permalink)
Amman/Jordan
 
 
Posts: 39 since May 2013
Thanks: 13 given, 13 received


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 !

Reply With Quote
The following 3 users say Thank You to Surprise for this post:
 
(login for full post details)
  #678 (permalink)
Site Administrator
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 48,942 since Jun 2009
Thanks: 31,596 given, 94,610 received

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):
https://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:
https://www.topsteptrader.com:443/

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

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/
Follow me on Twitter Visit my Facebook Visit my futures io Trade Journal Reply With Quote
The following 6 users say Thank You to Big Mike for this post:
 
(login for full post details)
  #679 (permalink)
new york
 
Experience: Beginner
Platform: SC, NT
Trading: CL, GC
 
Posts: 213 since Sep 2009
Thanks: 99 given, 113 received


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.

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #680 (permalink)
Leeds UK
 
Experience: Intermediate
Platform: FXTrade
Broker: Interactive Brokers, CapitalSpreads, Oanda
Trading: GBP/USD
 
Tymbeline's Avatar
 
Posts: 430 since Apr 2015
Thanks: 1,050 given, 557 received


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!

Reply With Quote
The following 5 users say Thank You to Tymbeline for this post:


futures io Trading Community Trading Reviews and Vendors > TopstepTrader's Michael Patak (Founder) - Ask Me Anything (AMA)


June 22, 2020


Upcoming Webinars and Events
 

Relative Rotation Graphs w/Julius de Kempenaer

Elite only
 

Every journal equals ten meals for the hungry

Now
     



Copyright © 2020 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts