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TopstepTrader's Michael Patak (President) - Ask Me Anything (AMA)
Started:February 8th, 2013 (07:49 PM) by Big Mike Views / Replies:112,212 / 862
Last Reply:November 29th, 2016 (11:51 AM) Attachments:14

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

Old July 23rd, 2013, 11:37 PM   #201 (permalink)
Elite Member
Philadelphia, PA
 
Futures Experience: Advanced
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exactly...for those that have used T4 for several years...or any other platform that has become second nature may say the same thing about migrating to NT or any other platform....

for me personally...T4 or a similar platform is a move backwards...
I am certain there are many out there....pros included..who think otherwise
I was more frustrated with the limitations rather than an inability to adapt....

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Old July 24th, 2013, 06:36 PM   #202 (permalink)
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Big Mike View Post
Tip


There will be a Live AMA session on Thursday, July 25th @ 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/282447510




Mike

Reminder for this event.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
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Old July 25th, 2013, 12:54 PM   #203 (permalink)
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AMA room open.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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Old July 25th, 2013, 01:54 PM   #204 (permalink)
Site Administrator
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I want to thank Michael Patak @TopstepTrader for his time today to answer questions in the AMA.

The recording for the AMA is below. If you have additional questions, you can ask them here in this thread.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Attached Files
ama-topsteptrader-jul25-2013.flv (34.68 MB, 191 views)
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Old July 25th, 2013, 02:17 PM   #205 (permalink)
bRoKeN
Houston, TX/USA
 
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Platform: Sierra Chart
Broker/Data: Sierra Charts Data Feed
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Futures Edge on FIO
I asked a question in the Q&A that I wasn't very clear about. Let me try to rephrase.......

I wish I could find the quote that I heard or read somewhere, but let me paraphrase. It went something like this....."If you want to be funded, we obviously have options for that. And if you want to trade your own account, then we have options for that as well".

Maybe I'm just imagining things, but I thought I read that somewhere, in regards to TST. Big Mike, NO I am not wanting to give my money to TST, lol, as you thought I was asking in the AMA. I guess I thought maybe they had some options out there for trading your own money along side their money. I guess if I wanted to trade my own account while trading for TST, then I could just do that on my own.

Anyways, sorry for the confusion and hopefully that clears up my question.

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Old July 25th, 2013, 03:14 PM   #206 (permalink)
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What did everyone think of the AMA?

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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Old July 25th, 2013, 03:28 PM   #207 (permalink)
Market Wizard
Sarasota FL
 
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Favorite Futures: ES, CL
 
Posts: 3,471 since Jan 2013
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Big Mike View Post
What did everyone think of the AMA?

Mike

Informative. And filled with good advice about trading that many people will not take (control your losses, manage your risk, don't concentrate on the profits....)

I like these Topstep guys.

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Old July 25th, 2013, 04:16 PM   #208 (permalink)
 Vendor: www.topsteptrader.com 
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Chrismind View Post
I asked a question in the Q&A that I wasn't very clear about. Let me try to rephrase.......

I wish I could find the quote that I heard or read somewhere, but let me paraphrase. It went something like this....."If you want to be funded, we obviously have options for that. And if you want to trade your own account, then we have options for that as well".

Maybe I'm just imagining things, but I thought I read that somewhere, in regards to TST. Big Mike, NO I am not wanting to give my money to TST, lol, as you thought I was asking in the AMA. I guess I thought maybe they had some options out there for trading your own money along side their money. I guess if I wanted to trade my own account while trading for TST, then I could just do that on my own.

Anyways, sorry for the confusion and hopefully that clears up my question.

Chrismind- The opportunity at TST is the possibility of getting funded. If you earn a funded account you'll be financially backed by our equity partner - and that trading account will include NO capital contribution on your part.

Obviously, if you want to trade your own personal account, separately, that's fine. But to clarify TST and any of our equity partners will never ask or accept your trading capital.

mp

If you have any questions about our products or services at TopstepTrader, please send me a Private Message or use the BMT "Ask Me Anything" thread.
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Old July 25th, 2013, 09:32 PM   #209 (permalink)
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So as per the new rules vs old rules is this right ----

Old rule 10/20 day minimum out of 30/60 calendar days and you could trade upto a max 30/60 calendar days to meet your profit objective. Essentially you had 30 calendar days to meet your 10 day profit objective.

New rule-you pick 10/20 days minimum out of 30/60 calendar days and any day you trade counts against you and now you have 10 or 20 trading days (you pick) to meet your profit objective.

Is this right ?

Seems like a step backward from traders perspective. If they got it right they had 10 days earlier to complete the profit objective and if it didn't go right they still had the 30 calendar days to get it in order. If they get it right they still have to trade the minimum 10 days like earlier. 20 day seems more like it.

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Old July 25th, 2013, 09:34 PM   #210 (permalink)
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Big Mike View Post
What did everyone think of the AMA?

Mike

Good questions and thanks to MP for answering them. Just caught the recording now.

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