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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)

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  #1 (permalink)
 Big Mike 
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Michael Patak, the Founder of TopstepTrader, will be monitoring this thread so that he may answer any questions that you post here relating to TST products and services.

Please keep in mind that some customer service/technical support issues are best handled through proper channels at TST.

TST (TopstepTrader) is a well known scouting agency. Their Funded Trader Combine program focuses your attention on the most critical components to being a successful trader: discipline and risk. You can bring most any day trading methodology you wish to their program, and if you pass the Combine they will offer to fund you as a trader. Even if you have no desire to get funded, their Combine program is an excellent way to focus your attention where it needs to be.

In addition to this thread, I will also be asking Michael Patak to stop by on occasion for a casual webinar where he can answer questions via audio while also sharing his screen to visually demonstrate any points as needed. The date/time of those sessions will be announced here in this thread. These sessions will be limited to questions only, there is no prepared presentation. After the session ends, the recording will be posted in this thread.

You can find more on their website:
Trading Program Online | Learn to Trade | TopstepTrader

Feel free to ask any questions below and we'll do our best to get them answered.

The futures.io (formerly BMT) "AMA" (Ask Me Anything) series is by invitation only. It is part of a new program we are launching shortly called "Certified Trustworthy", something that has been months in the making. I will provide all the details of this new program as soon as it is ready for launch.

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 birdoggg 
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When will Ninjatrader be reliably available with TsT?

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 Daytrader999 
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birdoggg View Post
When will Ninjatrader be reliably available with TsT?

The actual statement so far as mentioned in the last webinar is by mid March, maybe sooner.

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 Topstep  Topstep is an official Site Sponsor
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birdoggg View Post
When will Ninjatrader be reliably available with TsT?

Birdogg- We should have NinjaTrader available in the Combine by the end of March. I will let you know if this changes.

Mp

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 wldman 
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that NT8 might be ready by the end of March?

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 Big Mike 
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wldman View Post
that NT8 might be ready by the end of March?

He is talking about NT7. @NinjaTrader Ray will be on futures.io (formerly BMT) February 27th to discuss NT8 once again, but if you look at the past NT8 webinar I think it is clear that NT8 will not be available this quarter.

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 wldman 
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Ray announces on the futures.io (formerly BMT) webinar. The end of March would coincide with the beginning of the second quarter. I'm trying to decide if I should buy the lifetime license...@$995 I'd break even on my current lease during the 16th month.
Have a nice weekend Mike. DB

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 Big Mike 
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If Ray agrees to an Ask Me Anything (AMA) thread you can ask him. For now lets focus on TopstepTrader for this thread

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 birdoggg 
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Thanks...Greg


TopstepTrader View Post
Birdogg- We should have NinjaTrader available in the Combine by the end of March. I will let you know if this changes.

Mp


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 VinceVirgil 
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Hello Michael,

What is the reason to get Ninja Trader on board in the first place? Is the platform gaining much wider acceptance among pro traders?

Vincevirgil

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VinceVirgil View Post
Hello Michael,

What is the reason to get Ninja Trader on board in the first place? Is the platform gaining much wider acceptance among pro traders?

Vincevirgil

VinceVirgil- We will be adding more trading platforms to our program as this allows traders to trade on what they are used to trading on without having to switch. NinjaTrader has been the most widely requested platform. We will have this up and working in the Combine shortly. Once we have this platform established we will most likely be adding a couple others.

mp

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 Daytrader999 
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TopstepTrader View Post
NinjaTrader has been the most widely requested platform. We will have this up and working in the Combine shortly.

mp

@TopstepTrader:

Hi Michael,

may I kindly ask you to inform us about the date once Ninja Trader and CQG will reliably be available for the Combine by posting the definite start date here in this thread ?

I would really appreciate that because that would save me from asking TST support that particular question every week or two...

Thanks a lot in advance !

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@TopstepTrader:

Hi Michael,

may I kindly ask you to inform us about the date once Ninja Trader and CQG will reliably be available for the Combine by posting the definite start date here in this thread ?

I would really appreciate that because that would save me from asking TST support that particular question every week or two...

Thanks a lot in advance !

Daytrader999- We have been told the end of March. It is extremely hard to get a definitive date when dealing with programming but updates we receive seem to show that we are on track for meeting the end of March deadline.

mp

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 daytrader07 
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What is the total number of funded traders as well as number of currently funded traders?

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What is the total number of funded traders as well as number of currently funded traders?

You can see the list of the Funded Traders here, there have been 78:

Trader Job | Trader Profiles | TopstepTrader

The currently active number is somewhere around 45 (my estimate). If you visit the pits on their website during the day you can do a quick count, but you have to go around quickly into all pits. I few weeks ago I counted about 35 and since then they have added about 8-10, and I assume some Live traders weren't present...

Oh, and they have been adding on average 1 trader per week, in the last few months...

So take these numbers until Mike answers the question...

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daytrader07 View Post
What is the total number of funded traders as well as number of currently funded traders?

Pedro40- Thanks for the help.

daytrader07- We actually have about 28 active funded traders. We have funded over 150+ in the last two years. We are now averaging at least 2 traders a week that are coming up to the team of funded traders (live traders).

Hope that helps.

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 DarkPoolTrading 
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Hi all,

Im not sure if this is more of a NinjaTrader or Topstep Trader question. When Topstep Trader goes live with Ninjatrader, will it support server side order handling? ie: If we lose internet connectivity, will our stop loss and profit targets remain active?

For the NT users, if Topstep will cater for server side order handling, is there somewhere in Ninjatrader where we need to activate this option?

Thanks.

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DarkPoolTrading View Post
Hi all,

Im not sure if this is more of a NinjaTrader or Topstep Trader question. When Topstep Trader goes live with Ninjatrader, will it support server side order handling? ie: If we lose internet connectivity, will our stop loss and profit targets remain active?

For the NT users, if Topstep will cater for server side order handling, is there somewhere in Ninjatrader where we need to activate this option?

Thanks.

DarkPoolTrading- All orders will be on the server side. If you lose connection you will still have your orders working. Also, there should be no setting that you need to change.

I will have more info on this as we are getting very close to launching the NinjaTrader paltform. Great question btw.

mp

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 syxforex 
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Hey Mike, will NYSE tick be available via the new broker?

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Hey Mike, will NYSE tick be available via the new broker?

syxforex- I am sorry we will not have the NYSE tick.

mp

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 bmmartin 
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Hi,

Do you plan to add Eurex (I am interested in ESTX and Bund) to the available exchanges-contracts for the Combine?

And, if that is the case, when?

Thanks,


Bern

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 josh 
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syxforex View Post
Hey Mike, will NYSE tick be available via the new broker?

FWIW, I use Sierra Charts with TST and Sierra uses a barchart feed that comes with the subscription that has TICK, A/D, etc. I have package 5 but it may also be standard on package 3, I'm not sure. Works fine in conjunction with CTS/TST.

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bmmartin View Post
Hi,

Do you plan to add Eurex (I am interested in ESTX and Bund) to the available exchanges-contracts for the Combine?

And, if that is the case, when?

Thanks,


Bern

bmmartin- We are communicating with Eurex on making their products available in our Combine. Currently we do not have the Eurex products available.

mp

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 kman 
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Is this still available and if so what is the "code"

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kman View Post
Is this still available and if so what is the "code"

kman- I do not believe that code is available still. You may call our recruiting line at 312.252.9490 and a recruiter will let you know what he can help you with.

mp

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 David_R 
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Mike.

I was wondering why the IDT will now be $500 with a 10 day 50k combine included instead of just offered independantly. Additionally, and more importantly, why is the increased profit split of 65/35 being eliminated? Wasn't it already reduced from 70/30?

D

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 DarkPoolTrading 
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David_R View Post
Mike.

I was wondering why the IDT will now be $500 with a 10 day 50k combine included instead of just offered independantly. Additionally, and more importantly, why is the increased profit split of 65/35 being eliminated? Wasn't it already reduced from 70/30?

D

This is the first i've heard of this. According to their website the IDT program is still $300 and results in a 65/35 profit split when getting funded. Im sure Topstep will chime in soon enough to clarify.

I certainly hope you are mistaken about the profit split change. Im sure the course is excellent and plan on doing it myself. But if the profit split benefit is removed, I wouldn't be surprised to see a lot less people doing it.

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  #29 (permalink)
 Big Mike 
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BTW, there is a webinar from Ray Burchett on futures.io (formerly BMT):

Webinar: Ray Burchett - Intuitive Development for Traders (IDT)

My understanding is it covers some similar material that is covered more in-depth in his course.

Mike

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 Daytrader999 
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Big Mike View Post
My understanding is it covers some similar material that is covered more in-depth in his course.

That's correct, the futures.io (formerly BMT) webinar deals with most of the topics which are covered in detail, very comprehensive and interactively in this course.

Since I went through the IDT course a couple of months ago, I can state that Ray does an awesome job and it was quite the best educational webinar on trader's psychology I've ever attended so far.

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David_R View Post
Mike.

I was wondering why the IDT will now be $500 with a 10 day 50k combine included instead of just offered independantly. Additionally, and more importantly, why is the increased profit split of 65/35 being eliminated? Wasn't it already reduced from 70/30?

D

David_R- IDT and other educational courses are partnerships we make with outside educators. The cost of $500 is what Ray charges on his site. We will be dropping the profit split for all educational courses and adding a complimentary Combine invite on all our educational courses (more to come) offered by our outside educators. This will allow traders to get an education of their choice and a shot for funding at the same time. The better profit split does nobody any good if that trader cannot get live and stay live. Having sound education and the Combine together will give that trader the best shot to get themselves on a funded account and stay profitable.

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 David_R 
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David_R- IDT and other educational courses are partnerships we make with outside educators. The cost of $500 is what Ray charges on his site. We will be dropping the profit split for all educational courses and adding a complimentary Combine invite on all our educational courses (more to come) offered by our outside educators. This will allow traders to get an education of their choice and a shot for funding at the same time. The better profit split does nobody any good if that trader cannot get live and stay live. Having sound education and the Combine together will give that trader the best shot to get themselves on a funded account and stay profitable.

mp

Thanks, makes sense.

D

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 ryanmcc15 
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Hi Mike,

I was wondering if we could get an update on how things are going with NinjaTrader. Is it still on track to be available at the end of the month?

Ryan

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Hi Mike,

I was wondering if we could get an update on how things are going with NinjaTrader. Is it still on track to be available at the end of the month?

Ryan

Ryan- Our company gets an update today as we are working with the back-end provider and at the mercy of their programmers. Last I heard it looked like things would be ready in the coming weeks.

We are just as anxious as anyone to add the NT platform to our Combine. I will update this thread when I hear more.


Have a great weekend,

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 tderrick 
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TopstepTrader View Post
Ryan- Our company gets an update today as we are working with the back-end provider and at the mercy of their programmers. Last I heard it looked like things would be ready in the coming weeks.

We are just as anxious as anyone to add the NT platform to our Combine. I will update this thread when I hear more.


Have a great weekend,

mp


Take your time brother.... I would rather have it right, not just have it.


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 Daytrader999 
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tderrick View Post
Take your time brother.... I would rather have it right, not just have it.

Exactly what I was thinking...

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 DarkPoolTrading 
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@TopstepTrader, perhaps in the next AMA session you could go through all the structure and price changes that are busy happening, and the thinking behind them:
- Price increases
- No more increased profit split for those completing the IDT
- No more member discount for combines
- Squawk radio no longer free
- Can a combine still be rolled over?

thanks.

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 Daytrader999 
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DarkPoolTrading View Post
@TopstepTrader, perhaps in the next AMA session you could go through all the structure and price changes that are busy happening, and the thinking behind them:
...
- No more increased profit split for those completing the IDT
....

Very interesting indeed, since I took the IDT course myself a couple of months ago and now I'm wondering whether or not the former profit split of max. 80/20 will still apply to me after successfully passing the Combine and the required account cushion has been build...


Edit: I just noticed Melissa's answer to my question here:

So, former graduates of the IDT course will still receive the increased profit split of max. 80/20.

Thanks @mfootlick for clarifying.

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 Anagami 
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Michael,

I hope you still check this thread to answer questions.

Is it possible to trade for TST out of Asia after passing the Combine? I'm thinking of retiring to Thailand and trading for you out of there.

"The mind is its own place, and in itself can make a heaven of hell, a hell of heaven." - Milton
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@TopstepTrader, perhaps in the next AMA session you could go through all the structure and price changes that are busy happening, and the thinking behind them:
- Price increases
- No more increased profit split for those completing the IDT
- No more member discount for combines
- Squawk radio no longer free
- Can a combine still be rolled over?

thanks.

DarkPoolTrading and other futures.io (formerly BMT) members-

Just wanted to clarify a few things as I think there may be a bit of confusion. We have recently updated our website, changed the Membership program and launched TopstepTrader University (wahoo!) (including our new educational program: College of Trader Development).

All website changes are completed. If you are having any problems viewing the website, please clear your cache.
The cost of the Combine has NOT changed. The 10-Day and 20-Day Minimum Combine, with the standard Combine Objective (Profit Target and Scouting Criteria) is the same as it has been. There are no plans to increase the cost of the Combine.


Squawk Radio and Breaking News Service

The Squawk Radio and Breaking News Service is FREE to anyone enrolled in the 2-Week Trial, the Practice Trading Subscription, and the Combine. For those who are not enrolled in the program, a 2-Week Squawk Radio Trial is available for free. If someone who is not part of our program wishes to subscribe to the Squawk Radio, the cost is $65/month (which was just lowered from $100/month)

Membership Program redesigned into a Practice Trading Program

In response to recruit feedback, our Membership program has been restructured into a Practice program. Many recruits weren’t able to fully utilize membership benefits (discounts, coaching, etc.) because they were focusing more on practicing and developing trading skills. To account for this concern, we are lowering the subscription cost from $150/month to $100/month.

Practice Account for a Combine
To clarify, there is a difference between the Practice Trading Subscription and “adding” a practice account to a Combine. When adding a practice account to a Combine, the practice account is available only from the time the Combine begins to ends. Also, when adding a practice account, Trade Reports are not generated for the practice account, unlike with the Practice Trading Subscription. The cost for adding a practice account has always been and continues to be $30 for a 10-Day Minimum Combine and $50 for a 20-Day Minimum Combine.

Intuitive Development for Traders Changes
As for the changes for Intuitive Development for Traders .“IT and other educational courses we offer are through partnerships with outside educators. The cost of $500 is what Ray currently charges on his site (the price of IDT on his website will be increasing to $997).

The profit split has been dropped from all education courses, and instead we have added a complimentary 10-Day $50K Minimum Combine (a $175 value). This allows traders to get an education of their choice and a shot for funding at the same time. The better profit split does nobody any good if that trader cannot get live and stay live. Having sound education and the Combine together will give that trader the best shot to get themselves on a funded account and stay profitable. Of course, anyone who previously took IDT will still receive the increased profit split.

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Anagami View Post
Michael,

I hope you still check this thread to answer questions.

Is it possible to trade for TST out of Asia after passing the Combine? I'm thinking of retiring to Thailand and trading for you out of there.

Anagami- We are a global scouting agency for traders so yes you are good to go.

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 Big Mike 
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Tip


There will be a Live AMA session on Thursday, April 4th @ 12:00 PM ET.

- Quick and casual, 30 minute cap
- No prepared presentation
- Live screen sharing
- Floor will be opened immediately to questions
- Recording uploaded to AMA thread afterwards
- Attend live to get your questions answered

The link for the event is:
https://www3.gotomeeting.com/register/449351110




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Tip


There will be a Live AMA session on Thursday, April 4th @ 12:00 PM ET.

- Quick and casual, 30 minute cap
- No prepared presentation
- Live screen sharing
- Floor will be opened immediately to questions
- Recording uploaded to AMA thread afterwards
- Attend live to get your questions answered

The link for the event is:
https://www3.gotomeeting.com/register/449351110




Mike

Looking forward to it.

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 trendisyourfriend 
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I was privately discussing the following aspect with josh and he asked me to go directly to the source as it was not clear for him either. So here is my question:

Do you know the tax implications for a US resident as well as for someone outside the US. What about a wannabe trader that passes the combine and is offered the possibilty to trade real money? Will he be considered as an independant worker in terms of US taxes? Does the location change something i live Canada, province of Quebec? Are there any constraint imposed by financial regulation in Canada for this type of activity?

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 Daytrader999 
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trendisyourfriend View Post
Do you know the tax implications for a US resident as well as for someone outside the US. What about a wannabe trader that passes the combine and is offered the possibilty to trade real money? Will he be considered as an independant worker in terms of US taxes? Does the location change something i live Canada, province of Quebec? Are there any constraint imposed by financial regulation in Canada for this type of activity?

Well, there's the same question for me since I'm located in Germany, and it will be a quite hard piece of work for me to explain this kind of relationship with TST to German tax authorities as well...

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 tderrick 
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Daytrader999 View Post
Well, there's the same question for me since I'm located in Germany, and it will be a quite hard piece of work for me to explain this kind of relationship with TST to German tax authorities as well...



"German Tax Authorities" sound frightening.


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 Daytrader999 
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"German Tax Authorities" sound frightening.

You bet !!

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 Big Mike 
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In prior webinars he mentioned TST will 1099 you.

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 plethora 
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It has to be a 1099 because you're using your own computer, office space and hours are dictated by oneself.

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trendisyourfriend View Post
I was privately discussing the following aspect with josh and he asked me to go directly to the source as it was not clear for him either. So here is my question:

Do you know the tax implications for a US resident as well as for someone outside the US. What about a wannabe trader that passes the combine and is offered the possibilty to trade real money? Will he be considered as an independant worker in terms of US taxes? Does the location change something i live Canada, province of Quebec? Are there any constraint imposed by financial regulation in Canada for this type of activity?

trendisyourfriend- All funded traders are independent contractors (1099-misc). As for any tax advice, we try not to get involved with that. We recommend all traders seek the advice of their tax professional.

As for your question about Canada. We currently have a funded trader from this country.

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 GFIs1 
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Daytrader999 View Post
Well, there's the same question for me since I'm located in Germany, and it will be a quite hard piece of work for me to explain this kind of relationship with TST to German tax authorities as well...

In Germany there is a one and only Tax witch in person ***
She shouts as Arnie here on futures.io (formerly BMT) whispers: "WHERE's the MONEY?"

GFIs1

*** For those who don't know: her name is Merkel

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 Daytrader999 
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GFIs1 View Post
In Germany there is a one and only Tax witch in person ***
She shouts as Arnie here on futures.io (formerly BMT) whispers: "WHERE's the MONEY?"

Hehe, you got it my friend.

But don't ever forget our Minister of Finance, Mr. Schäuble...together they are really an 'unbeatable team'.

Having that said, let's go and transfer some money to Cyprus now. Wonder who'll be next...and sorry for getting a bit off topic.

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Pedro40
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The latest funded trader Caden399 only made $2098 in the 50K/10days minimum Combine (as opposed to the normal $3500 target). I don't see his Combine having a smaller DLL or MaxD, so if it was a costum Combine, what was his specifics? Maybe trading 4 different instrument???

If so, would the mini ES and the mini Dow count as 2 different instruments? Well, technically they are, but practically they are pretty much the same...

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 Big Mike 
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Just a reminder to join us Wednesday @ 4:30 PM ET for "Post-Trade Analysis and Improvement". John Hoagland and Andre McHugh will be presenting from TST.

Thread:


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vercetti
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Hi, I will like to know what is the status of the Ninja Trader platform in regards of been available as a second platform for traders to use in TopStepTrader? Will be available the beginning of April or the release got push back a few more months?

Thank you

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 Daytrader999 
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Well, as it was just mentioned during the current TST webinar, Ninja Trader will 'probably be available in a month'...

Since Ninja Trader is now being postponed time and again for about 6 months, I seriously wonder if it ever will be available in a Combine...

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 Big Mike 
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Daytrader999 View Post
Well, as it was just mentioned during the current TST webinar, Ninja Trader will 'probably be available in a month'...

Since Ninja Trader is now being postponed time and again for about 6 months, I seriously wonder if it ever will be available in a Combine...

Will be discussed next Thursday, April 4th, during the AMA session with the CEO



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 TraderG 
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When are you planning to add TF - mini Russel 2000 to your combine?

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Big Mike View Post
Tip


There will be a Live AMA session on Thursday, April 4th @ 12:00 PM ET.

- Quick and casual, 30 minute cap
- No prepared presentation
- Live screen sharing
- Floor will be opened immediately to questions
- Recording uploaded to AMA thread afterwards
- Attend live to get your questions answered

The link for the event is:
https://www3.gotomeeting.com/register/449351110




Mike

Reminder for Thursday's event.

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Hi, I will like to know what is the status of the Ninja Trader platform in regards of been available as a second platform for traders to use in TopStepTrader? Will be available the beginning of April or the release got push back a few more months?

Thank you

Vercetti- We are waiting on word on an exact date. I can explain more tomorrow during the AMA.

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When are you planning to add TF - mini Russel 2000 to your combine?

TraderG- We are working towards getting the Eurex and ICE on board with our Combine. This is an ongoing process that involves lots of red tape and hurdles. We do not have a date but I can say we are working very hard so that we may provide other products in the Combine.

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 Big Mike 
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AMA room now open.

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 Big Mike 
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I want to thank Michael Patak for his time today to answer questions during the AMA.

Below is the recording of the session. There was some sort of technical issue when Michael shared his screen, so after 2 minutes we resorted to just audio, which worked fine.

If anyone did not get their question answered, you can post it here in the thread.

Mike

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  #64 (permalink)
 Jura 
The Netherlands
 
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Ryan- Our company gets an update today as we are working with the back-end provider and at the mercy of their programmers. Last I heard it looked like things would be ready in the coming weeks.

We are just as anxious as anyone to add the NT platform to our Combine. I will update this thread when I hear more.

Will TopstepTrader support algorithmic trading through NinjaTrader? I could not find any information on the website that would suggest that it doesn't. But since your program and services are aimed solely at discretionary traders, I wondered if this would be something that is "allowed".

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 Topstep  Topstep is an official Site Sponsor
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Will TopstepTrader support algorithmic trading through NinjaTrader? I could not find any information on the website that would suggest that it doesn't. But since your program and services are aimed solely at discretionary traders, I wondered if this would be something that is "allowed".

Jura- Yes this will be allowed as long as the trades go through your Ninja platform and you are connected to our back-end provider you will be good to go.

As a side note we are open to all strategies however the person on the other end trades it as long as it falls within our products permitted and risk parameters of the Combine account.

mp

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 Daytrader999 
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Jura- Yes this will be allowed as long as the trades go through your Ninja platform and you are connected to our back-end provider you will be good to go.

@TopstepTrader:

...Hopefully which means that you expect Ninja Trader to be available for the Combine soon...(?)

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Pedro40
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In the Combine, can I hedge using different months of the same instrument?

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 mongoose 
Chicago, IL
 
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Do not know if TST will be willing to answer this but since it is the ask me anything thread I will give it a shot. What does topsteptrader make more money off of, failed combines and subscriptions or actual live trader profits.

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FXwulf
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Im curious about TST's reach as far as futures markets to trade

After one completes the combine can a trader get access to Pac-Asia futures contracts like the Chinese ftse A50/ heng Seng/ ASX futures/ KOSPI futures/ sensex?

I realize in the combine it is pretty much only currency futures/ index futures/ US interest rate futures and commodity futures

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 PandaWarrior 
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Question for Mike Patak as well as the forum.

I haven't been in a combine in months....however a few weeks ago I got a few emails from recruiters claiming to work for TST and offering discounts to former combiners. I got them on the same day with a canned email from each.

I told the last one to figure out which of the recruiters would chase me and only let that guy communicate with me instead of the 3-4 I got initially.

I ended up with one guy that emailed me occasionally and even called me once or twice. A pleasant fellow that didn't hound me which I appreciated. I had a few questions about NT and T4 working together and decided to just wait. I was in no hurry. Once it became clear that NT was not going to be available until the end of the summer at the earliest, I decided to do a combine.

So I asked for a discount on my signup, my recruiter gave me one via email and I tried to sign up. I got an error message. Discount code invalid. Quick email to my recruiter who told me it was only valid over the phone and to call him if I wanted anything. I'm wondering why he gave me a code knowing full well it wouldn't work.

I decided to wait a bit longer for various reasons and then my cardiac incident happened and I figured it was as good a time as any to sign up. So I called on Friday, talked to my recruiter who took my information over the phone, gave me a price and told me I was all signed up and would get my log in details on Sunday afternoon as normal along with my confirmation email for my credit card.

Well its early Sunday evening. No emails, no confirmation codes, no log in details.

So my question is this, has anyone else signed up for a combine using these recruiters? If so, what was your experience with this? It seems unprofessional to me. I didn't get the warm fuzzies on Friday that my recruiter actually processed my credit card. It turns out I was right.

Hopefully Mike will see this soon and look into it. I've sent an email to my recruiter as well so we'll see what happens. Hopefully this recruiter this is real and I didn't just give my credit card info to a complete scammer.

Recruiters name is Frank Meccia.....

Brian

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 Big Mike 
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Hopefully Mike will see this soon and look into it. I've sent an email to my recruiter as well so we'll see what happens. Hopefully this recruiter this is real and I didn't just give my credit card info to a complete scammer.

Brian

I think you should go ahead and name the recruiter here so everyone is on the same page.

Mike

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 Silver Dragon 
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Question for Mike Patak as well as the forum.

I haven't been in a combine in months....however a few weeks ago I got a few emails from recruiters claiming to work for TST and offering discounts to former combiners. I got them on the same day with a canned email from each.

I told the last one to figure out which of the recruiters would chase me and only let that guy communicate with me instead of the 3-4 I got initially.

I ended up with one guy that emailed me occasionally and even called me once or twice. A pleasant fellow that didn't hound me which I appreciated. I had a few questions about NT and T4 working together and decided to just wait. I was in no hurry. Once it became clear that NT was not going to be available until the end of the summer at the earliest, I decided to do a combine.

So I asked for a discount on my signup, my recruiter gave me one via email and I tried to sign up. I got an error message. Discount code invalid. Quick email to my recruiter who told me it was only valid over the phone and to call him if I wanted anything. I'm wondering why he gave me a code knowing full well it wouldn't work.

I decided to wait a bit longer for various reasons and then my cardiac incident happened and I figured it was as good a time as any to sign up. So I called on Friday, talked to my recruiter who took my information over the phone, gave me a price and told me I was all signed up and would get my log in details on Sunday afternoon as normal along with my confirmation email for my credit card.

Well its early Sunday evening. No emails, no confirmation codes, no log in details.

So my question is this, has anyone else signed up for a combine using these recruiters? If so, what was your experience with this? It seems unprofessional to me. I didn't get the warm fuzzies on Friday that my recruiter actually processed my credit card. It turns out I was right.

Hopefully Mike will see this soon and look into it. I've sent an email to my recruiter as well so we'll see what happens. Hopefully this recruiter this is real and I didn't just give my credit card info to a complete scammer.

Brian

@PandaWarrior

Email support@TopstepTrader.com. I would take this post and send it to them. If there is a issue they will be able to handle it promptly.

Robert

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 PandaWarrior 
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@PandaWarrior

Email support@TopstepTrader.com. I would take this post and send it to them. If there is a issue they will be able to handle it promptly.

Robert

I cc'd support and the scout team on my email to the recruiter. I used to have Mike's email as well as Hoag's but seem to have misplaced them....

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 iqgod 
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Question for Mike Patak as well as the forum.

I haven't been in a combine in months....however a few weeks ago I got a few emails from recruiters claiming to work for TST and offering discounts to former combiners. I got them on the same day with a canned email from each.

I told the last one to figure out which of the recruiters would chase me and only let that guy communicate with me instead of the 3-4 I got initially.

I ended up with one guy that emailed me occasionally and even called me once or twice. A pleasant fellow that didn't hound me which I appreciated. I had a few questions about NT and T4 working together and decided to just wait. I was in no hurry. Once it became clear that NT was not going to be available until the end of the summer at the earliest, I decided to do a combine.

So I asked for a discount on my signup, my recruiter gave me one via email and I tried to sign up. I got an error message. Discount code invalid. Quick email to my recruiter who told me it was only valid over the phone and to call him if I wanted anything. I'm wondering why he gave me a code knowing full well it wouldn't work.

I decided to wait a bit longer for various reasons and then my cardiac incident happened and I figured it was as good a time as any to sign up. So I called on Friday, talked to my recruiter who took my information over the phone, gave me a price and told me I was all signed up and would get my log in details on Sunday afternoon as normal along with my confirmation email for my credit card.

Well its early Sunday evening. No emails, no confirmation codes, no log in details.

So my question is this, has anyone else signed up for a combine using these recruiters? If so, what was your experience with this? It seems unprofessional to me. I didn't get the warm fuzzies on Friday that my recruiter actually processed my credit card. It turns out I was right.

Hopefully Mike will see this soon and look into it. I've sent an email to my recruiter as well so we'll see what happens. Hopefully this recruiter this is real and I didn't just give my credit card info to a complete scammer.

Recruiters name is Frank Meccia.....

Brian

Hi Brian,

I would like to confirm that I signed up for my $150,000 combine through Frank Meccia.

Same case with me, signed up over the phone and gave credit card info over the phone.

So probably this is the real Frank Meccia and you have not been scammed.

However I did receive the combine details as promised the correct evening.

And I agree... this is an insecure and unprofessional practice of asking for credit card information over the phone.

Regards,
iqgod

P.S.: Send me a PM if you wish to ask anything further.

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 ryanmcc15 
Kalamazoo, Michigan
 
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Question for Mike Patak as well as the forum.

Once it became clear that NT was not going to be available until the end of the summer at the earliest, I decided to do a combine.

NinjaTrader wont be available now until the end of summer? Can you confirm this Michael?

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 PandaWarrior 
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ryanmcc15 View Post
NinjaTrader wont be available now until the end of summer? Can you confirm this Michael?

This was me being sarcastic after months of saying "in a few weeks" only to have it postponed again. dont read more into this than that....

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 PandaWarrior 
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Question for Mike Patak as well as the forum.

I haven't been in a combine in months....however a few weeks ago I got a few emails from recruiters claiming to work for TST and offering discounts to former combiners. I got them on the same day with a canned email from each.

I told the last one to figure out which of the recruiters would chase me and only let that guy communicate with me instead of the 3-4 I got initially.

I ended up with one guy that emailed me occasionally and even called me once or twice. A pleasant fellow that didn't hound me which I appreciated. I had a few questions about NT and T4 working together and decided to just wait. I was in no hurry. Once it became clear that NT was not going to be available until the end of the summer at the earliest, I decided to do a combine.

So I asked for a discount on my signup, my recruiter gave me one via email and I tried to sign up. I got an error message. Discount code invalid. Quick email to my recruiter who told me it was only valid over the phone and to call him if I wanted anything. I'm wondering why he gave me a code knowing full well it wouldn't work.

I decided to wait a bit longer for various reasons and then my cardiac incident happened and I figured it was as good a time as any to sign up. So I called on Friday, talked to my recruiter who took my information over the phone, gave me a price and told me I was all signed up and would get my log in details on Sunday afternoon as normal along with my confirmation email for my credit card.

Well its early Sunday evening. No emails, no confirmation codes, no log in details.

So my question is this, has anyone else signed up for a combine using these recruiters? If so, what was your experience with this? It seems unprofessional to me. I didn't get the warm fuzzies on Friday that my recruiter actually processed my credit card. It turns out I was right.

Hopefully Mike will see this soon and look into it. I've sent an email to my recruiter as well so we'll see what happens. Hopefully this recruiter this is real and I didn't just give my credit card info to a complete scammer.

Recruiters name is Frank Meccia.....

Brian

Follow up.

About an hour into the session today, I got my log in details along with a follow up from Frank with a brief apology and an offer for an extra day.

I asked about a receipt for payment or the combine to be comp'd. Nothing from Frank since. I shot over another email just before I posted this with regard to the receipt, so hopefully I'll hear something soon.

Update, as I am typing this, presto, my receipt arrives. I guess I'm not being comp'd.

I'll update this thread if anything further happens. However, I recommend using the website for payment. It just seems more professional.

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 xelaar 
prague, czech republic
 
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Just for information: if you use credit and no debit cards, it's safe to give this information as its your issuing bank who will be bearing losses if unable to retrieve the amount in case of scam and following repudiation or charge back. You get the hassle to do the charge back and blocked amount on your account for a couple of months in worst case but you won't lose money.

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 DarkPoolTrading 
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Hi Michael,

In TST's calculation of win/loss percentage, how do you deal with breakeven trades? If I enter at 100 and exit at 100, it is breakeven in terms of ticks. But the commissions involved result in a loss in terms of P&L.

Would the above example be counted as a loss in your calculations during the combine?

Just want to make sure I understand exactly how win/loss percentage is calculated.

Thanks.

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 iqgod 
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Hi Michael,

In TST's calculation of win/loss percentage, how do you deal with breakeven trades? If I enter at 100 and exit at 100, it is breakeven in terms of ticks. But the commissions involved result in a loss in terms of P&L.

Would the above example be counted as a loss in your calculations during the combine?

Just want to make sure I understand exactly how win/loss percentage is calculated.

Thanks.


While Michael is the correct person to answer, I believe the following information is correct:

Scratch trades do not affect any metric except Fees & Commissions/Net P&L and Total Trades.
They are included in “Total Trades” therefore, that metric is not used to calculate averages.

Total Win % (Per Day)
1. Add the day’s Winning Trades, find total
2. Add that day’s Winning Trades + Losing Trades (do not use “Total Trades” column), find total
3. Divide the total of step 1 by the total of step 2


Overall Average Total Win %
1. Add all trading days’ Winning Trades, find total
2. Add all that day’s Winning Trades + Losing Trades (do not use “Total Trades” column), find total
3. Divide the total of step 1 by the total of step 2

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 iqgod 
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Overall Average Avg P&L Per Trade
1. Add trading day’s Winning Trades + Losing Trades (do not use “Total Trades” column), find total
2. Take the total from step 1 and multiply (x) it by the Average P&L per trade for that day 3. Repeat step 2 for all Combine days, find total
4. Take the “Total” from #3 and divide by the running total of all Combine days' Winning Trades + Losing Trades (do not use “Total Trades” column)


Overall Average Avg Win
1. Take one trading day’s Winning Trades and multiply (x) it by the Average Win per trade for that day
2. Repeat step 1 for all Combine days, find total
3. Take the “Total” from step 2 and divide by the running total of ALL Combine days' Winning Trades

Overall Average Avg Loss
1. Take one trading day’s Losing Trades and multiply (x) it by the Average Loss per trade for that day
2. Repeat step 1 for all Combine days, find total
3. Take the “Total” from step 2 and divide by the running total of ALL Combine days' Losing Trades

Overall Average Avg Win Duration
1. Take one trading day’s Winning Trades and multiply (x) it by the Average Win Duration per trade for that day
2. Convert the amount from step 1 to seconds
3. Repeat step 1 and step 2 for ALL Combine days
4. Total ALL trading days’ amounts found on step 2
5. Take the “Total” from step 4 and divide by the running total of ALL Combine days' Winning Trades
6. Convert the Total “seconds” found on step 5 back into minutes

Overall Average Avg. Loss Duration
1. Take one trading day’s Losing Trades and multiply (x) it by the Average Loss Duration per trade for that day
2. Convert the amount from step 1 to seconds
3. Repeat step 1 and step 2 for ALL Combine days
4. Total ALL trading days’ amounts found on step 2
5. Take the “Total” from step 4 and divide by the running total of ALL Combine days' Losing Trades
6. Convert the Total “seconds” found on step 5 back into minutes

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  #82 (permalink)
 iqgod 
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A trade is considered 1 trade if the completed price “in” (entry) is the same, no matter the quantity and the completed price “out” (exit) is the same, no matter the quantity. If two entries occur at the same price, and two exits occur at different prices, then that would constitute 2 trades.

Net P&L - P&L minus Fees and Commissions

Fees & Commissions - Total Contracts x $2.50

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 DarkPoolTrading 
PTA, Gauteng
 
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iqgod View Post
While Michael is the correct person to answer, I believe the following information is correct:

Scratch trades do not affect any metric except Fees & Commissions/Net P&L and Total Trades.
They are included in “Total Trades” therefore, that metric is not used to calculate averages.

Total Win % (Per Day)
1. Add the day’s Winning Trades, find total
2. Add that day’s Winning Trades + Losing Trades (do not use “Total Trades” column), find total
3. Divide the total of step 1 by the total of step 2


Overall Average Total Win %
1. Add all trading days’ Winning Trades, find total
2. Add all that day’s Winning Trades + Losing Trades (do not use “Total Trades” column), find total
3. Divide the total of step 1 by the total of step 2

Cool thanks @iqgod. Im sure Michael will chime in at some point. But I have a feeling you're right. I seem to remember reading that somewhere too.

Thanks.

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 PandaWarrior 
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So TST called today, someone from the trader experience department (who knew) anyway, he apologized profusely for the mix up, was generally open to feedback and said he'd get a couple of my ideas implemented right away.

As a way of smoothing things over, he gave me a free combine if and when I might want or need it.

While the initial response from TST was slow in coming, it did come and I'm pleased to say that I am satisfied with the results.

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  #85 (permalink)
 Topstep  Topstep is an official Site Sponsor
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Pedro40 View Post
In the Combine, can I hedge using different months of the same instrument?

Pedro- We have approved this but you must submit a proposal first. Once approved the scout team will then have an understanding of how you will be trading, if you are looking to trade as you say.

mp

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mongoose View Post
Do not know if TST will be willing to answer this but since it is the ask me anything thread I will give it a shot. What does topsteptrader make more money off of, failed combines and subscriptions or actual live trader profits.

Mongoose- We do not disclose what company does what when talking finances. Both companies produce. TopstepTrader the education and scouting firm and Patak Trading Partners which is strictly a proprietary trading firm.

mp

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PandaWarrior View Post
Question for Mike Patak as well as the forum.

I haven't been in a combine in months....however a few weeks ago I got a few emails from recruiters claiming to work for TST and offering discounts to former combiners. I got them on the same day with a canned email from each.

I told the last one to figure out which of the recruiters would chase me and only let that guy communicate with me instead of the 3-4 I got initially.

I ended up with one guy that emailed me occasionally and even called me once or twice. A pleasant fellow that didn't hound me which I appreciated. I had a few questions about NT and T4 working together and decided to just wait. I was in no hurry. Once it became clear that NT was not going to be available until the end of the summer at the earliest, I decided to do a combine.

So I asked for a discount on my signup, my recruiter gave me one via email and I tried to sign up. I got an error message. Discount code invalid. Quick email to my recruiter who told me it was only valid over the phone and to call him if I wanted anything. I'm wondering why he gave me a code knowing full well it wouldn't work.

I decided to wait a bit longer for various reasons and then my cardiac incident happened and I figured it was as good a time as any to sign up. So I called on Friday, talked to my recruiter who took my information over the phone, gave me a price and told me I was all signed up and would get my log in details on Sunday afternoon as normal along with my confirmation email for my credit card.

Well its early Sunday evening. No emails, no confirmation codes, no log in details.

So my question is this, has anyone else signed up for a combine using these recruiters? If so, what was your experience with this? It seems unprofessional to me. I didn't get the warm fuzzies on Friday that my recruiter actually processed my credit card. It turns out I was right.

Hopefully Mike will see this soon and look into it. I've sent an email to my recruiter as well so we'll see what happens. Hopefully this recruiter this is real and I didn't just give my credit card info to a complete scammer.

Recruiters name is Frank Meccia.....

Brian

PandaWarrior- Sorry for the delay. I am having a member of my team look into this. Will let you know when I know.

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ryanmcc15 View Post
NinjaTrader wont be available now until the end of summer? Can you confirm this Michael?

ryanmcc- It will be available before this date. I do not have a date at this point as we are ourselves are waiting for a date from a 3rd party. We will let everyone know when we have confirmation.

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DarkPoolTrading View Post
Hi Michael,

In TST's calculation of win/loss percentage, how do you deal with breakeven trades? If I enter at 100 and exit at 100, it is breakeven in terms of ticks. But the commissions involved result in a loss in terms of P&L.

Would the above example be counted as a loss in your calculations during the combine?

Just want to make sure I understand exactly how win/loss percentage is calculated.

Thanks.

Darkpooltrading- Break even trades do not count for or against you with the win/loss %. They do of course affect your net P&L as commissions are involved.

Hope that helps. Great question.

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 tderrick 
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Per NT / Combine late summer release.



TopstepTrader View Post
ryanmcc- It will be available before this date. I do not have a date at this point as we are ourselves are waiting for a date from a 3rd party. We will let everyone know when we have confirmation.

mp


Guys, please stop hounding them about the release date. Believe me, you want this thing rock solid
and de-bugged when it arrives so that you can simply trade.

I, for one, TST, say, take all the time you need to make it a robust setup. Maybe it will be a wonderful
Christmas present !!


AJ
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"Life On The Edge of SR"
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Pedro40
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The answer is probably no, but I will ask it anyway: Is there a way to finish a bigger profitable combine earlier and apply its numbers to a smaller combine? The point would be not wasting time, if the trader realized he doesn't want/need so many contracts traded.

For example I sign up for the 150K/20 days Combine and after 10 days, I made 5.1K profits, while never trading more than 5 cars at any given time. Then I realize that I am comfortable with trading max. 5 cars, so with these stats and profit, I would have passed the 50K/10days combine (or even the longer 50K combine). So can I apply/ask to get it done instead of trading 10 more days and then restarting (assuming I didn't make the 150K profit target) and doing another 10 days in the 50K/10 days? That would be 20 days wasted, just to prove something what I have already done????

P.S.: I do know someone who is in this scenario, so it is not entirely hypothetical....

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Pedro40 View Post
The answer is probably no, but I will ask it anyway: Is there a way to finish a bigger profitable combine earlier and apply its numbers to a smaller combine? The point would be not wasting time, if the trader realized he doesn't want/need so many contracts traded.

For example I sign up for the 150K/20 days Combine and after 10 days, I made 5.1K profits, while never trading more than 5 cars at any given time. Then I realize that I am comfortable with trading max. 5 cars, so with these stats and profit, I would have passed the 50K/10days combine (or even the longer 50K combine). So can I apply/ask to get it done instead of trading 10 more days and then restarting (assuming I didn't make the 150K profit target) and doing another 10 days in the 50K/10 days? That would be 20 days wasted, just to prove something what I have already done????

P.S.: I do know someone who is in this scenario, so it is not entirely hypothetical....

Pedro- TopstepTrader does not evaluate traders like you mention. The scouts evaluate based on the Combine you are in and the objective of that Combine. Also try and look at the Combine as a development tool (if used properly). It will not be a waste of your time.

I hope that helps. Great question.

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vercetti
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Hello,

I'm trying to do some research about TopStepTrader Live Trader Preparation period. My understanding is that after completing successfully a Combine, a trader must go through a Live Trader Preparation period before he or she is allow to trade a full Live trading account. This apply to all traders or some traders? If applies to some traders, then is this related to the metrics in the Combine? What will be the cause to place a trader on the Live Trader Preparation period?

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vercetti View Post
Hello,

I'm trying to do some research about TopStepTrader Live Trader Preparation period. My understanding is that after completing successfully a Combine, a trader must go through a Live Trader Preparation period before he or she is allow to trade a full Live trading account. This apply to all traders or some traders? If applies to some traders, then is this related to the metrics in the Combine? What will be the cause to place a trader on the Live Trader Preparation period?

Vercetti- This is a case by case situation. There are times where the scouts see things in a traders trade report or their style of trading that they want to discuss with them. They will call up this trader and discuss the Live Trader Preparation. Typically they will not have a profit target or may have a profit target cut in half, depending on the decision of the scout team vote. Performance metrics will be dropped and the time it takes to complete the objective will be dropped.

Basically we are looking to see if their trading performance was a fluke and if consistency and discipline are still intact. Typically it is 50/50 if a trader is selected for live trader preparation or straight to live.

Hope that helps. Great question.

mp

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 PK007 
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TopstepTrader View Post
Pedro40- Thanks for the help.

daytrader07- We actually have about 28 active funded traders. We have funded over 150+ in the last two years. We are now averaging at least 2 traders a week that are coming up to the team of funded traders (live traders).

Hope that helps.

mp

Hi Michael,

Apologies for referring to an older post you made back in February. Why is there such a big turnaround in active traders over the last two years? Maybe a better question would be, why do active traders leave? Do they get job offers from other firms or decide to trade on their own after they made some profits? I don't have any experience trading with a firm so this might be the norm.

Thanks

Peter

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PK007 View Post
Hi Michael,

Apologies for referring to an older post you made back in February. Why is there such a big turnaround in active traders over the last two years? Maybe a better question would be, why do active traders leave? Do they get job offers from other firms or decide to trade on their own after they made some profits? I don't have any experience trading with a firm so this might be the norm.

Thanks

Peter

PK007- This is a common number with firms. Many prop groups have hired on hundreds of traders that last days, weeks, months and sometimes a year or more. Traders come and go as this is a profession that is based strictly on performance. Some traders with good talent lose their head or go through other personal issues that take them out of staying in tune with the market and thus directly affects their performance.

Let me know if that helps.

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 xelaar 
prague, czech republic
 
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Looks like TST website does not allow anymore to see other trader's track record with badges. It was still available yesterday, I believe. I can see my own track record no problem.

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xelaar View Post
Looks like TST website does not allow anymore to see other trader's track record with badges. It was still available yesterday, I believe. I can see my own track record no problem.


xelaar- We have always only allowed a trader to see their own track record as trading is your own personal journey. As an fyi, many traders are using the trade reports to build their own track record for certain products or trading strategies that they can then use for other opportunities if their performance is not meeting the objective TST is looking for.

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 xelaar 
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TopstepTrader View Post
xelaar- We have always only allowed a trader to see their own track record as trading is your own personal journey. As an fyi, many traders are using the trade reports to build their own track record for certain products or trading strategies that they can then use for other opportunities if their performance is not meeting the objective TST is looking for.

mp

They were perfectly visible until yesterday, and I can still can see some other's profile track record. I am not talking about trade reports, only these badges like 1k day and 5 days win streak.

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xelaar View Post
They were perfectly visible until yesterday, and I can still can see some other's profile track record. I am not talking about trade reports, only these badges like 1k day and 5 days win streak.

Xelaar- I was informed the achievement badges are working. Some recruits may not have achieved any badges yet.

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