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 (158 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 243,829 views
    2. thumb_up 1,836 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)
  #981 (permalink)
Site Moderator
Sarasota FL
 
Experience: Intermediate
Platform: Sierra Chart
Trading: ES, YM
 
bobwest's Avatar
 
Posts: 5,733 since Jan 2013
Thanks: 44,723 given, 19,367 received


DRock306 View Post
As a recent funded trader i can tell you it calculates it from ur account high at the end of the day/close not your account high during the day.
So if you were up $1000 during the day and by the time the markets closed you were only at $700 then they would only use that $700 in there calculations not the $1000.
Hope that helps

Perfect.

Bob.

Visit my futures io Trade Journal Reply With Quote

Can you help answer these questions
from other members on futures io?
FYI plot bug & workaround: changing color or width is delayed 1 bar
EasyLanguage Programming
Scan by comparing SMAs within 5 mins
ThinkOrSwim
Setting up an alert on a Gartley study
Traders Hideout
Corn Sep-Dec20
Commodities
Cumulative Bid/Ask Chart resets after 2Billion
MultiCharts
 
Best Threads (Most Thanked)
in the last 7 days on futures io
Is anyone actually making money?
181 thanks
Micro account vs Funded account (combine)
52 thanks
Are sharks watching on the other side?
31 thanks
Market profile entries/exits
26 thanks
Spoo-nalysis ES e-mini futures S&P 500
21 thanks
 
(login for full post details)
  #982 (permalink)
Chicago, IL
 
Experience: Advanced
Platform: TSTrader, NinjaTrader...
Trading: ALL- Futures, Forex, Equities
 
TopstepTrader's Avatar
 
Posts: 246 since Feb 2013
Thanks: 57 given, 690 received


bobwest View Post
I got a PM from @skfutures with an excellent question. Basically, it is not clear from what I could find on the website whether, in the funded account, the new trailing max drawdown itself is computed the same way as in the Combine -- based on closing balance -- or on the high point reached during the day, realized or not.

So if his high point was +900, but he ended up at +700, which amount would be used, in the funded account, to calculate his new trailing max drawdown? Also, if the +900 was unrealized, would it be used, or would they use the highest realized balance?

I don't know, and it would be important to know, obviously.

I'm quoting from my reply to him, so the question will be out in the public space of the forum for others to see, and perhaps answer:



Perhaps @TopstepTrader could clarify this for us.

Bob.


Bob - thanks for the question and thanks for the kind words about Trader Support.

In a Funded Account, the trailing max drawdown is still calculated based off of the end of day balance of your high water mark (realized P&L at the end of day). However, if you hit that number intraday, you will be closed out of the account.

As you mention to @skfutures, this is different than in a Trading Combine and Funded Trader Preparation, where if you hit the Trailing Drawdown intraday, you have until the end of the day to get back above that water mark - as long as you haven't hit your Daily Loss Limit.

As an example, let's say on Day 1 in a Funded Account, you gain $1,500 on one trade and then lose $1,500 on the second trade - for a net P&L of $0. Your Trailing Max Drawdown would not have moved from its original location (-$2,000 in a $50K account, -$3,000 with a $100K account, etc.).

If on Day 1, you make $1,500 by the close of day, your Trailing Max Drawdown would move to -$500 in a 50K account. If at any point thereafter, your account balance hits -$500 including unrealized P&L, you will be closed out of the trade and your Funded Account will be closed.

In a Trading Combine or FTP, you could theoretically hit -$600 or more intraday and then bounce back by the end of the day to maintain your eligibility for a Funded Account.

To summarize: the Trailing Max Drawdown is only calculated on an account's end of day balance in all of our accounts. However, in a Funded Account, if your loss exceeds that level intraday, we will close out the account as an added risk measure.

Hope that helps and feel free to tag us or contact Trader Support if you have any questions.

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.
Follow me on Twitter Visit my Facebook Reply With Quote
The following 3 users say Thank You to TopstepTrader for this post:
 
(login for full post details)
  #983 (permalink)
CONSTANTINE/ALGERIA (DZ)
 
 
Posts: 45 since Aug 2015
Thanks: 142 given, 6 received


I would like to know more information about eurex echange trading dax fgbl bobl ftx are available, if not why thanx

Reply With Quote
 
(login for full post details)
  #984 (permalink)
Chicago, IL
 
Experience: Advanced
Platform: TSTrader, NinjaTrader...
Trading: ALL- Futures, Forex, Equities
 
TopstepTrader's Avatar
 
Posts: 246 since Feb 2013
Thanks: 57 given, 690 received


k7ler View Post
I would like to know more information about eurex echange trading dax fgbl bobl ftx are available, if not why thanx

Hi k7ler, thanks for the question. We are unable to receive simulated data for Eurex products, those are only available on a live account.

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.
Follow me on Twitter Visit my Facebook Reply With Quote
The following user says Thank You to TopstepTrader for this post:
 
(login for full post details)
  #985 (permalink)
CONSTANTINE/ALGERIA (DZ)
 
 
Posts: 45 since Aug 2015
Thanks: 142 given, 6 received


TopstepTrader View Post
Hi k7ler, thanks for the question. We are unable to receive simulated data for Eurex products, those are only available on a live account.



I understand why benefit some product has other Eurex and more liquid and volatile and more volume than the ES or YM or NQ mainly season London and Frankfurt and in addition know more volume walking, I find it unfair that you integrate not flowing data Eurex Product on Sim I would like to know a reason thank you

Reply With Quote
 
(login for full post details)
  #986 (permalink)
CONSTANTINE/ALGERIA (DZ)
 
 
Posts: 45 since Aug 2015
Thanks: 142 given, 6 received

I do not understand the reason why you prefer products to certainly for example the product EUREx are very liquid and a lot of volume usually know of very volatile product I prefer to see product in simulation I understand the reason That they are not available I think it is necessary to add them

Reply With Quote
 
(login for full post details)
  #987 (permalink)
Chicago, IL
 
Experience: Advanced
Platform: TSTrader, NinjaTrader...
Trading: ALL- Futures, Forex, Equities
 
TopstepTrader's Avatar
 
Posts: 246 since Feb 2013
Thanks: 57 given, 690 received


k7ler View Post
I do not understand the reason why you prefer products to certainly for example the product EUREx are very liquid and a lot of volume usually know of very volatile product I prefer to see product in simulation I understand the reason That they are not available I think it is necessary to add them

Hi k7ler. Thanks for your posts. We currently do not have access to give EUREX data in SIM accounts. It's not that we don't want to, but we can't. We don't have the connection. This is something we hope to look into in the future, but it's not on our current road map. As a reminder, you can trade EUREX in the Funded Account.

We appreciate your feedback and take user feedback very seriously. It's what helps us stay innovative and give our users a great experience. Hope this helps give a little more clarity on your question.

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.
Follow me on Twitter Visit my Facebook Reply With Quote
The following 3 users say Thank You to TopstepTrader for this post:
 
(login for full post details)
  #988 (permalink)
Washington, DC
 
Experience: Intermediate
Platform: Ninja and TOS
Broker: Ninja
Trading: CL, ES
 
Posts: 93 since Dec 2009
Thanks: 109 given, 58 received

Topstep recently increased their profit target requirements in combines and FTP (a 33% increase in the 30k accounts) due to the increase in market volatility. Volatility goes both ways - why increase profit targets and not max loss?
I know you can do whatever you want since you own the business, but this just doesn't make sense.

Reply With Quote
The following user says Thank You to SawDr for this post:
 
(login for full post details)
  #989 (permalink)
salt lake utah
 
Experience: Beginner
Platform: Sierra Chart
Broker: CQG
Trading: ES
 
rintin2x's Avatar
 
Posts: 541 since Jun 2016
Thanks: 634 given, 532 received


SawDr View Post
Topstep recently increased their profit target requirements in combines and FTP (a 33% increase in the 30k accounts) due to the increase in market volatility. Volatility goes both ways - why increase profit targets and not max loss?
I know you can do whatever you want since you own the business, but this just doesn't make sense.

Is it written in their site because of volatility? I was checking them out too lately and I noticed the profit target moved from 1.5k to 2k. Not sure about other account?

Reply With Quote
 
(login for full post details)
  #990 (permalink)
Washington, DC
 
Experience: Intermediate
Platform: Ninja and TOS
Broker: Ninja
Trading: CL, ES
 
Posts: 93 since Dec 2009
Thanks: 109 given, 58 received



rintin2x View Post
Is it written in their site because of volatility? I was checking them out too lately and I noticed the profit target moved from 1.5k to 2k. Not sure about other account?

They cited volatility as the reason in an email dated March 27th. No explanation as to why the max loss was not changed.

Reply With Quote
The following user says Thank You to SawDr 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
 

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