TopstepTrader's Michael Patak (Founder) - Ask Me Anything (AMA) - Vendors and Product Reviews | futures.io
futures io futures trading


TopstepTrader's Michael Patak (Founder) - Ask Me Anything (AMA)
Started: by Big Mike Views / Replies:126,118 / 933
Last Reply: Attachments:19

Welcome to futures io.

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.


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, and we will never resell your private information.

-- Big Mike

Reply
 19  
 
Thread Tools Search this Thread
 

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

  #561 (permalink)
 Vendor: diversifyportfolio.com 
PTA, Gauteng
 
Futures Experience: Advanced
Platform: Self built + Sierra + TWS
Favorite Futures: Stocks and Options
 
DarkPoolTrading's Avatar
 
Posts: 1,027 since May 2012
Thanks: 1,194 given, 1,280 received


Zach b View Post
Hi,
Can you please confirm that when you complete a combine,
and the LTP as documented below, the daily loss and max drawdown you are provided corresponds to the combine level that you have invested in with the only exception being the scaling plan? I have seen some things on the boards to the contrary so wanted to get clarification.
Thanks!
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).

You would certainly expect that to be the case (ie: pass the combine and simply continue trading the same way you did, with the exception of the scaling plan). But no, that is not the case. After going live you only have the max drawdown for 10 days, then it magically disappears. I detailed the issue here quite a while back:
https://futures.io/vendors-product-reviews/25776-topsteptrader-s-michael-patak-p...thing-46.html#post474180

The continuous combine is marketed to a certain type of trader,...yet when that trader passes the combine and gets funded they are placed under arbitrary 10 day rules.

When they implemented that rule, I stopped participating in the combine and returned to my personal account because their business model became crystal clear and no longer aligned with what I consider to be reasonable and in the interest of both parties.

Diversification is the only free lunch
Reply With Quote
 
  #562 (permalink)
Elite Member
NV
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: fx
 
Posts: 21 since Mar 2010
Thanks: 13 given, 11 received


DarkPoolTrading View Post
You would certainly expect that to be the case (ie: pass the combine and simply continue trading the same way you did, with the exception of the scaling plan). But no, that is not the case. After going live you only have the max drawdown for 10 days, then it magically disappears. I detailed the issue here quite a while back:
https://futures.io/vendors-product-reviews/25776-topsteptrader-s-michael-patak-p...thing-46.html#post474180

The continuous combine is marketed to a certain type of trader,...yet when that trader passes the combine and gets funded they are placed under arbitrary 10 day rules.

When they implemented that rule, I stopped participating in the combine and returned to my personal account because their business model became crystal clear and no longer aligned with what I consider to be reasonable and in the interest of both parties.

Hi DarkPool,
What you mentioned (RE the 10 days) is documented in the image that I posted. My question is just making sure that you get that same max drawdown during those 10 days if that is the combine you pay for, since some of the other older post by other members make it seem like you do not.

Reply With Quote
 
  #563 (permalink)
Elite Member
NV
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: fx
 
Posts: 21 since Mar 2010
Thanks: 13 given, 11 received

Also


Is the scaling plan based on equity high at close or intraday activity?

Reply With Quote
 
  #564 (permalink)
 Vendor: www.topsteptrader.com 
Chicago Illinois
 
Futures Experience: Advanced
Platform: T4
Favorite Futures: ES
 
Hoag's Avatar
 
Posts: 66 since Mar 2012
Thanks: 23 given, 298 received


Zach b View Post
Is the scaling plan based on equity high at close or intraday activity?

Zach,

The scaling plan is based on equity high at close and the equity level need not be maintained to continue at the larger trade size.

Hope this clears it up. Trade well.

Hoag

If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at support@topsteptrader.com or 888.407.1611.
Reply With Quote
The following user says Thank You to Hoag for this post:
 
  #565 (permalink)
 Vendor: www.topsteptrader.com 
Chicago Illinois
 
Futures Experience: Advanced
Platform: T4
Favorite Futures: ES
 
Hoag's Avatar
 
Posts: 66 since Mar 2012
Thanks: 23 given, 298 received

Futures Edge on FIO

Zach b View Post
Hi DarkPool,
What you mentioned (RE the 10 days) is documented in the image that I posted. My question is just making sure that you get that same max drawdown during those 10 days if that is the combine you pay for, since some of the other older post by other members make it seem like you do not.

Zach,

You have the same max drawdown you had in the Combine you were successful in for the first 10 trading days. Trade well.

Hoag

If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at support@topsteptrader.com or 888.407.1611.
Reply With Quote
The following user says Thank You to Hoag for this post:
 
  #566 (permalink)
Elite Member
NV
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: fx
 
Posts: 21 since Mar 2010
Thanks: 13 given, 11 received

Thanks Hoag

Thanks for clarifying.

Reply With Quote
 
  #567 (permalink)
Elite Member
Reno, Nevada
 
Futures Experience: Intermediate
Platform: NinjaTrader
 
Posts: 7 since Sep 2010
Thanks: 0 given, 2 received

A clarifying question please. Are all funded traders funded at the combine levels they have purchased and passed or is every funded trader funded at the $30,000 mark. For instance if you purchased a $150,000 combine and passed it and a LTP is this going to be your funded level? Just curious, Hoag?

Reply With Quote
 
  #568 (permalink)
Elite Member
Toronto
 
Futures Experience: Intermediate
Platform: NinjaTrader, TOS
Broker/Data: Rithmic
Favorite Futures: CL
 
Posts: 17 since Aug 2009
Thanks: 0 given, 9 received

Limited Reset

I have been trading the ES and Crude Oil for my combine. My trading system works very well on CL and not so well on ES. I looks like I have to go back to the drawing board to adapt the system to trading ES. If you judge my performance on just CL, I would qualify for my combine. Is there an option to reset just the ES. I am willing to accept a ban on trading the ES on my live account for some time. It will suck if I have to reset the entire account and start fresh.

Reply With Quote
 
  #569 (permalink)
 Vendor: www.topsteptrader.com 
Chicago Illinois
 
Futures Experience: Advanced
Platform: T4
Favorite Futures: ES
 
Hoag's Avatar
 
Posts: 66 since Mar 2012
Thanks: 23 given, 298 received


jeffalan View Post
A clarifying question please. Are all funded traders funded at the combine levels they have purchased and passed or is every funded trader funded at the $30,000 mark. For instance if you purchased a $150,000 combine and passed it and a LTP is this going to be your funded level? Just curious, Hoag?

Jeffalan,

Yes, your funded level is the same as the Combine your were successful in. We do ask that you scale your strategy initially but the larger account sizes can leverage much quicker.

Hoag

If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at support@topsteptrader.com or 888.407.1611.
Reply With Quote
 
  #570 (permalink)
 Vendor: www.topsteptrader.com 
Chicago Illinois
 
Futures Experience: Advanced
Platform: T4
Favorite Futures: ES
 
Hoag's Avatar
 
Posts: 66 since Mar 2012
Thanks: 23 given, 298 received



TraderG View Post
I have been trading the ES and Crude Oil for my combine. My trading system works very well on CL and not so well on ES. I looks like I have to go back to the drawing board to adapt the system to trading ES. If you judge my performance on just CL, I would qualify for my combine. Is there an option to reset just the ES. I am willing to accept a ban on trading the ES on my live account for some time. It will suck if I have to reset the entire account and start fresh.

TraderG,

We are happy to see you are doing well in CL and hopefully improving your skills everyday. The current rules state that each product traded must have a trading average greater than $0 and there is no option to "reset" one product. If you are in a Continuous Combine you can work your way back to profitability in ES and then submit your Combine. I hope this helps clear things up and keep trading well.

Hoag

If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at support@topsteptrader.com or 888.407.1611.
Reply With Quote

Reply



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

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)
 

Spring Grains Outlook w/Sean Lusk @ Walsh Trading

Elite only

FIO Video Journal Challenge featuring NinjaTrader ($2,000+ of prizes)

April

Process above all else w/Anthony Crudele @ Futures Radio Show

Elite only

Machine Learning - Quantitative Trading w/Martin Froehler @ Quantiacs

Elite only

Market Dynamics w/Peter Davies @ Jigsaw Trading

Elite only

Ask Me Anything w/Patrick Rooney @ Trading Technologies

Apr 18

Ask Me Anything w/FuturesTrader71

Apr 19

Machine Learning w/Kris Longmore

Elite only

Market Analysis w/Dave Forss

Apr 25

Introducing iSystems with Stage 5 Trading

Apr 27
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Webinar: TopstepTrader on Discipline/Psychology (Michael Patak and John Hoagland) Big Mike Psychology and Money Management 24 July 1st, 2016 11:45 PM
Patak Trading Partners Tundi Vendors and Product Reviews 13 November 17th, 2015 10:47 AM
Michael A.K.A Mitchell is here CaesarMitchell Beginners and Introductions 1 August 13th, 2015 03:04 AM
Webinar: TopstepTrader Michael Patak and Bob Iaccino on Mastering Candlestick Math Big Mike Vendors and Product Reviews 10 January 19th, 2015 11:49 PM
Michael' Surf Ride2021 Beginners and Introductions 1 September 29th, 2012 02:08 PM


All times are GMT -4. The time now is 06:59 AM.

no new posts
Page generated 2017-03-27 in 0.14 seconds with 20 queries on phoenix via your IP 54.211.169.76