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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)

  #931 (permalink)
 Vendor: www.topsteptrader.com 
Chicago, IL
 
Futures Experience: Advanced
Platform: NinjaTrader, CTS (T4), Si
Favorite Futures: ALL- Futures, Forex, Equities
 
TopstepTrader's Avatar
 
Posts: 225 since Feb 2013
Thanks: 49 given, 660 received


aquarian1 View Post
@TopstepTrader
Hi Micheal,

Below is what I understand from what I have been able to piece together. Is this correct?

You lose your funded account if:
  1. You exceed the max drawdown (e.g. $2,000) in the first ten days.
  2. You exceed your daily loss limit (e.g $1,000) in the first ten days.
  3. You exceed your weekly loss limit (e.g $1,000) in the first ten days.
  4. You fail to make a net profit in the first 10 days after receiving your funded account.
  5. You trade more contracts than your scaling plan.
  6. You trade contracts outside the allowed times and months and instruments.
  7. You fail to close all trades one minute prior to "economic" times
  8. You do not close out your trades by 5mins prior the end of the trading day for that contract. (e.g. 15:10CT for ES)

After the first ten days, you lose your funded account if:
  1. You let your "net profit position on deposit" drop below $0.
  2. You trade more contracts than your scaling plan.
  3. You trade contracts outside the allowed times and months and instruments.
  4. You fail to close all trades one minute prior to "economic" times.
  5. You do not close out your trades by 5mins prior the end of the trading day for that contract. (e.g. 15:10CT for ES)

---------------
"net profit position on deposit"
= e.g. If you were funded with $50,000 and made $2,500 and then withdrew $2,000 your net profit position on deposit would equal $500 less exchange fees ($65/mo) = $435. This is another way of saying your watermark is $50,435.

If you lose your funded account you drop back into the combines - no 1 free combine anymore.
===========


Thanks aquarian1 for the question. You have an accurate understanding of our program, and Opstar did a good job at confirming some of our rules. Yes, we did eliminate our 'Maintain an Account Balance greater than $0 after a minimum of 10 trading days' rule. You can read more about this change here: [BREAKING] Two Rules Eliminated

To clear up any confusion, our exchange fees are actually CME data fees that are passed through to our traders. Hope this information helps, and please let us know if you have any more questions about our program.

Trade Well

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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  #932 (permalink)
 Vendor: www.topsteptrader.com 
Chicago, IL
 
Futures Experience: Advanced
Platform: NinjaTrader, CTS (T4), Si
Favorite Futures: ALL- Futures, Forex, Equities
 
TopstepTrader's Avatar
 
Posts: 225 since Feb 2013
Thanks: 49 given, 660 received


Maxie View Post
Hi Michael,

I would like to know: if you want to trade with NT, who is the license, you or I?

What are the fees per trade?
If I am for example a 50Tsd. Account, then I may have 5 trades open at the same time. If I have the closed, we take time in the plus, may I continue on the same day still continue to trade? Or only 5 Trades per day?

Is it possible to trade options?


Hi, Maxie. Thanks for your question. As a funded trader, you're responsible for providing the platform you want to use while trading. Funded traders who are interested in using NinjaTrader may receive a $100 discount on a Single Broker Lifetime License or a $300 discount on the Multi Broker Lifetime License. You can find more information on the cost of the NinjaTrader platform here.

For all information regarding NinjaTrader and fees, please reference our Profits and Fees FAQ. There are several articles in this section relevant to this topic.

Unfortunately it is not possible to trade options in our Trading Combine®. As of right now we only support the Futures Combine. Coming very soon is the The Forex Trading Combine. This will give you the same great opportunity as the Futures Combine, but will allow you to trade and be evaluated on the popular foreign exchange market.

Hope this information is helpful. Trade Well.

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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  #933 (permalink)
Elite Member
Reno, Nevada
 
Futures Experience: Advanced
Platform: NinjaTrader
Favorite Futures: ZN, ZB, FDAX
 
phantomtrader's Avatar
 
Posts: 158 since May 2011
Thanks: 13 given, 226 received

Question About Combine Fees


If you sign up for a $100 combine, there is also a monthly fee of $160. So for 1 month it amounts to $260. After that, you're charged $160 per month regardless whether you're in a combine or not? What is the $160 for?
Someone may have asked this question before - so a link to the answer would be fine.
Thanks.

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  #934 (permalink)
 Vendor: www.topsteptrader.com 
Chicago, IL
 
Futures Experience: Advanced
Platform: NinjaTrader, CTS (T4), Si
Favorite Futures: ALL- Futures, Forex, Equities
 
TopstepTrader's Avatar
 
Posts: 225 since Feb 2013
Thanks: 49 given, 660 received


phantomtrader View Post
If you sign up for a $100 combine, there is also a monthly fee of $160. So for 1 month it amounts to $260. After that, you're charged $160 per month regardless whether you're in a combine or not? What is the $160 for?
Someone may have asked this question before - so a link to the answer would be fine.
Thanks.

Hi there. The monthly renewal cost of the Trading Combine® is set to recur once a month from the signup date, until completed or canceled. You may reset this account at any time for $100 by clicking on the "Reset" button on your Trade Report. This will reset your starting balance and rules but will not affect your monthly renewal date. For more information on Trading Combine® sizes and pricing head to our Learn How page and scroll down to step 1. Hope this helps.

Trade Well

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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  #935 (permalink)
Trading Apprentice
Bangalore+India
 
Futures Experience: Intermediate
Platform: MetaTrader and Tradestation
Favorite Futures: Forex and Stocks
 
Posts: 39 since Aug 2015
Thanks: 5 given, 21 received

Ultrabook To Trade with TopStepTrader

I am looking at the below configuration on an Ultrabook for my Trading with Ninjatrader (With TopStepTrader).

7th Generation Intel Core i3-7100U Processor (2.4GHz, 3MB L3 Cache)
14" Full HD (1920 x 1080) Widescreen LED-backlit Display
4GB DDR4 Onboard Memory, 128GB SSD
Windows 10 Home

Is this enough or should I go for a higher Memory and i5 Processor. This falls into my budget. Currently I work on a desktop with 8GB Ram and 4th Gen i5 Processor.


Please advice..!!

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  #936 (permalink)
Elite Member
Tallinn, Estonia
 
Futures Experience: Beginner
Platform: SC
Broker/Data: Oanda
Favorite Futures: USOil / West Texas Oil
 
lemons's Avatar
 
Posts: 784 since Nov 2010
Thanks: 1,410 given, 1,988 received


pavanb15589 View Post
I am looking at the below configuration on an Ultrabook for my Trading with Ninjatrader (With TopStepTrader).

7th Generation Intel Core i3-7100U Processor (2.4GHz, 3MB L3 Cache)
14" Full HD (1920 x 1080) Widescreen LED-backlit Display
4GB DDR4 Onboard Memory, 128GB SSD
Windows 10 Home

Is this enough or should I go for a higher Memory and i5 Processor. This falls into my budget. Currently I work on a desktop with 8GB Ram and 4th Gen i5 Processor.


Please advice..!!

Its more than enough.

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The following 2 users say Thank You to lemons for this post:
 
  #937 (permalink)
Elite Member
Canada
 
Futures Experience: Intermediate
Platform: NinjaTrader & Jigsaw
Broker/Data: Rithmic
Favorite Futures: ZB UB
 
Posts: 141 since Dec 2016
Thanks: 84 given, 61 received

Hello, I'm wondering if the introduction of competition in this market place is perceived as a good thing by topsteptrader? Although it hasn't been launched, has topsteptrader considered matching Oneuptrader in certain ways if they come to market?


Sent from my iPhone using futures.io

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  #938 (permalink)
Trading for Profit
Atlanta GA USA
 
Futures Experience: Advanced
Platform: thinkorswim/Ninja Trader
Favorite Futures: stock options; ES, TF, 6E, 6J
 
Posts: 208 since Aug 2013
Thanks: 49 given, 199 received


forgiven View Post
what present of funded traders make 200,000 a year , what present of funded traders stay funded and trading with you for 12 straight months ...thanks


TopstepTrader View Post
Thanks for reaching out! We can't share personal financial information about our traders...

Really?


Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

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The following user says Thank You to emini2000 for this post:
 
  #939 (permalink)
Elite Member
Frankfurt, Hessen, Germany
 
Futures Experience: Intermediate
Platform: AgenaTrader & NinjaTrader
Broker/Data: FXCM & NinjaTraderBrokerage
Favorite Futures: Bonds, Currencies, Energies, Indizes, Metals
 
Renkotrader's Avatar
 
Posts: 450 since May 2012
Thanks: 943 given, 145 received

The argument from @emini2000 is right and valid. There is no reason for not telling the truth. It's okay, if there are not much real successful traders measured in percent, no problem. It's not needed to get all absolutely dates, but all we ask for getting percent dates you Michael deny to telling its us. So our questions to this will not ends. We are customers. We paid, we are paying or we will pay for the Combine. Me included, I paid more than 1000$ including the resetings. So it is fair to get answers from you. Concrete facts. That is, how I am thinking about this. Sorry, if you can't agree with me. Best regards, Renkotrader.

Sent using the futures.io mobile app

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  #940 (permalink)
Elite Member
Leeds UK
 
Futures Experience: Intermediate
Platform: FXTrade
Broker/Data: Interactive Brokers, CapitalSpreads, Oanda
Favorite Futures: GBP/USD
 
Tymbeline's Avatar
 
Posts: 393 since Apr 2015
Thanks: 870 given, 475 received



Raider View Post
has topsteptrader considered matching Oneuptrader in certain ways if they come to market?


A little ironic, perhaps, to talk about TSt "matching" some people who have stolen so much content directly from their site? These purported "TST copycats" seem to start up three or four times a year, often (like this one) copying TST's structure identically or almost identically, and often (like this one) copying many whole paragraphs or even whole pages from TST's website, word for word.

Except without the lists of hundreds of successfully funded traders, of course - they never have that. In fact, I've never yet heard of one going on to become established and paying out earnings to a single trader.

You have to feel sorry for TST? It's evidently because they've thought up and so professionally executed this business model for so long that their success in getting traders funded and earning has now gradually spawned a never-ending succession of scammy imitators, all of which - so far - sink without trace (but often having swallowed a lot of "trial fees" in the process). And because of that, the whole "industry" they more or less started themselves, in their format anyway, is acquiring something of a scammy reputation, and some of the misinformation and ill-informed prejudice about TST itself, arising indirectly from that reality, is pretty disappointing.

Maybe this "OneUp" one will prove to be the first ever exception (irony intentional)?

If I ran TST, I really don't know whether I'd be ignoring them completely, watching them with bemusement, or serving DMCA copyright notices against their hosting companies for all the duplicate sites. I'm not sure I'd want to comment in public, though, whatever they think.

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