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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:113,159 / 875
Last Reply:December 7th, 2016 (07:05 PM) Attachments:14

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

Old August 22nd, 2013, 12:17 PM   #221 (permalink)
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With all fairness, while new rules while might make doing combine somewhat more difficult (cushion wise) they now more resemble trading parameters of Junior Trader. Which is a good thing. And those got bit relaxed. I found that the whole mindset and risk approach is very different when moving live from Combine, making is difficult. So I personally view this new approach as a positive development for those who actually going to go live. What would be also positive is to have same approach to trading hours in Combine and JT. It actually can change results of one's trading quite a lot.

Trade to live. Not live to trade.
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Old August 22nd, 2013, 12:23 PM   #222 (permalink)
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Hi Michael, thanks for the explanations. I'm sure most of us don't mind rule changes, as long as they are transparent and the implications clearly stated.

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Old August 22nd, 2013, 12:42 PM   #223 (permalink)
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xelaar View Post
With all fairness, while new rules while might make doing combine somewhat more difficult (cushion wise) they now more resemble trading parameters of Junior Trader. Which is a good thing. And those got bit relaxed. I found that the whole mindset and risk approach is very different when moving live from Combine, making is difficult. So I personally view this new approach as a positive development for those who actually going to go live. What would be also positive is to have same approach to trading hours in Combine and JT. It actually can change results of one's trading quite a lot.

Xelaar- To answer your comment about time. Seniors trade when they want. Junior Traders are able to get approval for earlier times. Our equity partner currently does not allow trading at the live level BEFORE the London session. This decision is also due to the data we receive. Once we see better performance from 5pm in the evening (when globex reopens) to the open of the London session, we will go back to the equity partner and request approval.

As a side not we have got approval for the 5pm to London open but this is case by case.

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 August 22nd, 2013, 12:45 PM   #224 (permalink)
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fourtiwinks View Post
Hi Michael, thanks for the explanations. I'm sure most of us don't mind rule changes, as long as they are transparent and the implications clearly stated.


fourtiwinks- I completely agree with you. We have always tried to be as transparent as possible.

I did want to mention that in 15 minutes our Director of Scouting will be on our Squawk radio broadcast to answer any questions you have and get the explanation as to "WHY."

I will be on the broadcast tomorrow fielding questions as well. Join us. The room is open to guest.

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 August 22nd, 2013, 12:46 PM   #225 (permalink)
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Xelaar- To answer your comment about time. Seniors trade when they want. Junior Traders are able to get approval for earlier times. Our equity partner currently does not allow trading at the live level BEFORE the London session. This decision is also due to the data we receive. Once we see better performance from 5pm in the evening (when globex reopens) to the open of the London session, we will go back to the equity partner and request approval.

As a side not we have got approval for the 5pm to London open but this is case by case.

mp

Well perhaps, but nobody told me I can request to trade earlier. I was told 7 AM is the earlier for now. Even LTP was capped by stating at 6 AM. All kudos to those who will get that special care.

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Old August 22nd, 2013, 01:01 PM   #226 (permalink)
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xelaar View Post
Well perhaps, but nobody told me I can request to trade earlier. I was told 7 AM is the earlier for now. Even LTP was capped by stating at 6 AM. All kudos to those who will get that special care.

Xelaar- just to clarify we don't give special treatment but we do discuss with the trader moving to LTP or to the Funded level their trading plan and what times best work with them.

mp

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Old August 22nd, 2013, 01:03 PM   #227 (permalink)
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Xelaar- just to clarify we don't give special treatment but we do discuss with the trader moving to LTP or to the Funded level their trading plan and what times best work with them.

mp

Well as a former live trader my experience I was told specifically I can start trading at 7 AM after reporting to the room, and never earlier until I get to senior trader. I did indicate my approach is getting better setups at around 4-5 AM CST.

Anyway, good luck to all those working hard at getting live.

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Old August 22nd, 2013, 04:03 PM   #228 (permalink)
 Vendor: www.topsteptrader.com 
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xelaar View Post
Well as a former live trader my experience I was told specifically I can start trading at 7 AM after reporting to the room, and never earlier until I get to senior trader. I did indicate my approach is getting better setups at around 4-5 AM CST.

Anyway, good luck to all those working hard at getting live.

RAA- We are working on getting more permission to open this up. We have Seniors trading much earlier but as a Junior it is still case by case.

mp

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Old August 23rd, 2013, 12:18 PM   #229 (permalink)
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For anyone that needs a bit more clarity on the changes regarding Minimum Account Balance here is a graph and a link to the description: (as you will notice when trading as a funded trader the further away you get from your initial balance the greater negotiating powers you will have for increasing your size and daily loss limit, as well as the opportunity to trade other products and/or markets)

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Minimum Balance Defined ? Help & Feedback Center

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 September 1st, 2013, 05:30 AM   #230 (permalink)
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I got an email from TST about a new funded trader.
The combine report shows overall daily negative average for crude and 6B and positive on gold still he is eligible for a funded account
I was under the impression that winning a combine needs positive average in all instruments traded.
Somebody please clarify the rules.
Here is the combine picture I got in email.

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