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

  #241 (permalink)
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Nashville, Tennessee
 
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I'm just happy it's still in the pipeline !! Don't give up, TST !!


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"Life On The Edge of SR"
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  #242 (permalink)
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Manta, Ecuador
 
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TopstepTrader will be doing a combination webinar+AMA on Tuesday, November 5th @ 4:30 PM Eastern.

More info here:
https://futures.io/traders-hideout/29283-webinar-understanding-game-recreational-vs-professional-traders.html

Mike

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  #243 (permalink)
 Vendor: diversifyportfolio.com 
Johannesburg - South Africa
 
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Platform: Self built + Sierra + TWS
Favorite Futures: Stocks and Options
 
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Hi Michael,

During live trader prep (and junior trader status), traders are limited to the number of contracts they are allowed to trade. This obviously makes sense as the goal would be to grow the account slowly to start off with and not take on too much risk with any individual trade.

My question though is specific to the 30k combine. From what i've noticed, generally traders who go to live trader prep and junior trader status after passing the 30k, are told by TST that they are limited to trading 1 contract. (please correct me if im mistaken?)

Instead of being limited to 1 contract, can the trader instead specify what their maximum loss per trade will be? For example can they specify that their maximum stop loss for a trade will always be $100 (obviously things like slippage will occasionally happen). What that will allow is for the trader to trade 2 contracts if they wish and if that is what their strategy calls for, as long as their per trade risk is kept to whatever figure they have specified?

The reason I ask is because being limited to 1 contract calls for a massively different trade management strategy than trading multiple contracts. You may have passed the combine using a multi-contract trade management approach, and then go into live trader prep not being able to 'dance with the won that brung yah'. Being allowed to trade 2 contracts yet within the specified maximum risk per trade (as mutaully agreed upon before hand) offers far more flexibility for the same amount of risk.

thanks.

Diversification is the only free lunch

Last edited by DarkPoolTrading; November 15th, 2013 at 05:59 AM.
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  #244 (permalink)
 Vendor: www.topsteptrader.com 
Chicago, IL
 
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DarkPoolTrading View Post
Hi Michael,

During live trader prep (and junior trader status), traders are limited to the number of contracts they are allowed to trade. This obviously makes sense as the goal would be to grow the account slowly to start off with and not take on too much risk with any individual trade.

My question though is specific to the 30k combine. From what i've noticed, generally traders who go to live trader prep and junior trader status after passing the 30k, are told by TST that they are limited to trading 1 contract. (please correct me if im mistaken?)

Instead of being limited to 1 contract, can the trader instead specify what their maximum loss per trade will be? For example can they specify that their maximum stop loss for a trade will always be $100 (obviously things like slippage will occasionally happen). What that will allow is for the trader to trade 2 contracts if they wish and if that is what their strategy calls for, as long as their per trade risk is kept to whatever figure they have specified?

The reason I ask is because being limited to 1 contract calls for a massively different trade management strategy than trading multiple contracts. You may have passed the combine using a multi-contract trade management approach, and then go into live trader prep not being able to 'dance with the won that brung yah'. Being allowed to trade 2 contracts yet within the specified maximum risk per trade (as mutaully agreed upon before hand) offers far more flexibility for the same amount of risk.

thanks.

Darkpool- All traders that go directly to the funded level or that go into the Live Trader Preparation are able to discuss this with the scout on their call. Recently we had a $30k Trader get brought up that is able to trade his max size if he so chooses. Some Traders are asked to tighten it up only until they start building their account.

My point is, this is a case by case situation, but what you are proposing makes logical sense IF it is in their trading plan or how they traded in the Combine. This would most likely get approved.

Great question. I hope I answered it well enough for you.

mp

If you have any questions about our products or services at TopstepTrader, please send me a Private Message or use the FIO "Ask Me Anything" thread.
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  #245 (permalink)
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NUREMBERG BAYERN
 
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Which time slot for our live webinar events works best for you?

 

martinbuch View Post
Any news on making EUREX products available for the combine?

Thanks,
Martin

Any updates on this?

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  #246 (permalink)
 Vendor: www.topsteptrader.com 
Chicago, IL
 
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martinbuch View Post
Any updates on this?

Martinbuch- No updates at this time for Eurex. We do have some other updates, if interested.

-We recently launched a completely new and redeveloped TopstepTrader website. With the launch of the new site we will be pushing new feature that our recruits and traders recommend weekly.

-We are very very close to launching the NinjaTrader Platform with the Trading Combine.

There are a handful of other great updates that we will be announcing soon but I will wait for the date to get closer before going into any detail.

Thanks,

mp

If you have any questions about our products or services at TopstepTrader, please send me a Private Message or use the FIO "Ask Me Anything" thread.
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  #247 (permalink)
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TopstepTrader View Post
-We are very very close to launching the NinjaTrader Platform with the Trading Combine.

close as within the coming month?

“Only one who devotes himself to a cause with his whole strength and soul can be a true master. For this reason mastery demands all of a person.”--Albert Einstein
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  #248 (permalink)
 Vendor: www.topsteptrader.com 
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Vincent Vega View Post
close as within the coming month?

Vincent- pending there are no problems, yes.

mp

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  #249 (permalink)
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TopstepTrader View Post
Vincent- pending there are no problems, yes.

mp

Hey Michael,

Have there been any problems?

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The following user says Thank You to ryanmcc15 for this post:
 
  #250 (permalink)
 Vendor: www.topsteptrader.com 
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ryanmcc15 View Post
Hey Michael,

Have there been any problems?

Ryanmcc15- As of today, our Trader Support team has started contacting those on the waiting list to invite them to the Combine, using NT. The earliest for those invited to begin will be tomorrow.

I will keep futures.io (formerly BMT) traders posted on the public release which should be happening very soon.

mp

If you have any questions about our products or services at TopstepTrader, please send me a Private Message or use the FIO "Ask Me Anything" thread.
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