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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 December 30th, 2013, 03:35 PM   #291 (permalink)
Trading for Fun
delhi, delhi, india
 
Futures Experience: Intermediate
Platform: cqg ic
Favorite Futures: oil
 
Posts: 59 since Dec 2013
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Re


TopstepTrader View Post
nemeis45- As a funded trader at the Senior level you are able to negotiate many many things. Seniors are proven talent and proven talent has negotiating powers. I hope that answers your question.

mp

Yes. Thanks a ton!. Have a great new year ahead

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Old December 31st, 2013, 04:39 AM   #292 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
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TopstepTrader View Post
nemeis45- As a funded trader at the Senior level you are able to negotiate many many things. Seniors are proven talent and proven talent has negotiating powers. I hope that answers your question.

mp


Michael,

Your continuing presence on the site is appreciated. You instill confidence that you are a great bunch of
guys and run a top notch firm. As soon as I get a little cushion in my personal trading account to carry
some bills, I would like to split my time and take your combine for a spin and attempt to get some additional
funding. One can never be OVER FUNDED

Grazie for all you do


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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Old January 3rd, 2014, 02:08 PM   #293 (permalink)
Trading for Fun
delhi, delhi, india
 
Futures Experience: Intermediate
Platform: cqg ic
Favorite Futures: oil
 
Posts: 59 since Dec 2013
Thanks: 10 given, 13 received

daily stop loss limit for 50k combine


Hi MP,

I was informed that daily stop loss limit would be reviewed once i make 15k USD in profits (as senior trader)
dont you think this is a bit unfair for 30k/50k accounts. since it would be easier to make this in a 100k/150k account.

shouldnt a cushion of 5k/10k be enough to increase the daily stop loss to 1.2k/1.5k or even 2k.
It wouldnt really matter if you can hit more size as senior trader if your daily stop limit remains the same.
Just a suggestion.
Eg. for crude noise level is generally 15-25 ticks. so with a 1k stop loss you can only really trade 1 lot, sometimes 2 if you're very sure.
making 15k usd would take a lot of time with 1 lot.
whereas a 150k account could do it in a short amount of time. (with 3k stop loss, can easily hit 3-4 lots)

Would be a lot better if cushion amount was less for 30k/50k combines.
atm it is same for all account sizes 15k usd


Last edited by nemeis45; January 3rd, 2014 at 05:25 PM.
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Old January 3rd, 2014, 04:21 PM   #294 (permalink)
 Vendor: www.topsteptrader.com 
Chicago, IL
 
Futures Experience: Advanced
Platform: NinjaTrader, CTS (T4), Siera Chart, Market Delta, Esignal, FXCM, R trader Pro
Favorite Futures: ALL- Futures, Forex, Equities
 
TopstepTrader's Avatar
 
Posts: 192 since Feb 2013
Thanks: 40 given, 584 received


nemeis45 View Post
Got answers to most of my questions.
Just this

do you have a volume/profit based criteria for senior traders for commissions.
the 2.50 $ per side commission is significantly more than what i was being charged by my previous fcm.

maybe you dont have high volume traders. but shouldnt you lower commissions as volumes go up
( they are also higher for low volume traders compared to other fcm's)

Also can i trade Brent- wti spread at topsteptrader, after getting funded? (viz energy spreads)

nemeis45- As a funded SENIOR trader you will be able to make request like these. We have not had any request for WTI spreading but this would be something that most likely would be approved.

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 January 3rd, 2014, 04:25 PM   #295 (permalink)
 Vendor: www.topsteptrader.com 
Chicago, IL
 
Futures Experience: Advanced
Platform: NinjaTrader, CTS (T4), Siera Chart, Market Delta, Esignal, FXCM, R trader Pro
Favorite Futures: ALL- Futures, Forex, Equities
 
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tderrick View Post
Michael,

Your continuing presence on the site is appreciated. You instill confidence that you are a great bunch of
guys and run a top notch firm. As soon as I get a little cushion in my personal trading account to carry
some bills, I would like to split my time and take your combine for a spin and attempt to get some additional
funding. One can never be OVER FUNDED

Grazie for all you do

tderrick- I appreciate your comments. Thanks.. As for split time and doing the Combine this is perfectly fine but I do encourage you to watch where your focus is. Spreading it out over two accounts can make trading a bit more difficult for certain trading styles.

Looking forward to seeing you in the Combine soon. Happy New Year!

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 January 3rd, 2014, 07:07 PM   #296 (permalink)
 Vendor: www.topsteptrader.com 
Chicago, IL
 
Futures Experience: Advanced
Platform: NinjaTrader, CTS (T4), Siera Chart, Market Delta, Esignal, FXCM, R trader Pro
Favorite Futures: ALL- Futures, Forex, Equities
 
TopstepTrader's Avatar
 
Posts: 192 since Feb 2013
Thanks: 40 given, 584 received


nemeis45 View Post
Hi MP,

I was informed that daily stop loss limit would be reviewed once i make 15k USD in profits (as senior trader)
dont you think this is a bit unfair for 30k/50k accounts. since it would be easier to make this in a 100k/150k account.

shouldnt a cushion of 5k/10k be enough to increase the daily stop loss to 1.2k/1.5k or even 2k.
It wouldnt really matter if you can hit more size as senior trader if your daily stop limit remains the same.
Just a suggestion.
Eg. for crude noise level is generally 15-25 ticks. so with a 1k stop loss you can only really trade 1 lot, sometimes 2 if you're very sure.
making 15k usd would take a lot of time with 1 lot.
whereas a 150k account could do it in a short amount of time. (with 3k stop loss, can easily hit 3-4 lots)

Would be a lot better if cushion amount was less for 30k/50k combines.
atm it is same for all account sizes 15k usd

nemeis45- As you will notice on the funded page: https://www.topsteptrader.com/funded once you become a Senior (for those that completed a $30k Combine) you are able to negotiate your loss limit right away, if you so choose. Reaching senior level is moving your account balance up to $1,500. We have this rule so those smaller account traders can increase their exposure if they so choose.

Lastly, and to make a quick point to your first statement about it being easier at the $110k/$150k level. There is a saying on the trading floor that goes, if a trader can't trade small then they can't trade big. Sometimes bigger accounts or accounts with larger loss limits give traders that are not ready to trade at that level or are not disciplined, more room to hang themselves. Just something we also have seen from time to time. Knowing when to stop trading and accept the losses that day and the discipline needed to do this can be developed small and should be developed at the smaller account level ($30k) if that is something the trader needs to work on.

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 January 3rd, 2014, 07:16 PM   #297 (permalink)
Trading for Fun
delhi, delhi, india
 
Futures Experience: Intermediate
Platform: cqg ic
Favorite Futures: oil
 
Posts: 59 since Dec 2013
Thanks: 10 given, 13 received

ok

Got it , 15k for increasing daily stop.
Thanks for being patient with all the questions.
Generally in the business its the other way around ( you asking the questions)
Do appreciate the effort.


TopstepTrader View Post
nemeis45- As you will notice on the funded page: https://www.topsteptrader.com/funded once you become a Senior (for those that completed a $30k Combine) you are able to negotiate your loss limit right away, if you so choose. Reaching senior level is moving your account balance up to $1,500. We have this rule so those smaller account traders can increase their exposure if they so choose.

Lastly, and to make a quick point to your first statement about it being easier at the $110k/$150k level. There is a saying on the trading floor that goes, if a trader can't trade small then they can't trade big. Sometimes bigger accounts or accounts with larger loss limits give traders that are not ready to trade at that level or are not disciplined, more room to hang themselves. Just something we also have seen from time to time. Knowing when to stop trading and accept the losses that day and the discipline needed to do this can be developed small and should be developed at the smaller account level ($30k) if that is something the trader needs to work on.

mp


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Old January 3rd, 2014, 07:26 PM   #298 (permalink)
 Vendor: www.topsteptrader.com 
Chicago, IL
 
Futures Experience: Advanced
Platform: NinjaTrader, CTS (T4), Siera Chart, Market Delta, Esignal, FXCM, R trader Pro
Favorite Futures: ALL- Futures, Forex, Equities
 
TopstepTrader's Avatar
 
Posts: 192 since Feb 2013
Thanks: 40 given, 584 received


nemeis45 View Post
Got it , 15k for increasing daily stop.
Thanks for being patient with all the questions.
Generally in the business its the other way around ( you asking the questions)
Do appreciate the effort.

nemeis- We're always here to help. Have a great weekend.

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 January 4th, 2014, 07:21 AM   #299 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
Broker/Data: AMP / CQG
Favorite Futures: NQ, YM and ES
 
tderrick's Avatar
 
Posts: 1,589 since Sep 2010
Thanks: 4,260 given, 2,522 received


TopstepTrader View Post
tderrick- I appreciate your comments. Thanks.. As for split time and doing the Combine this is perfectly fine but I do encourage you to watch where your focus is. Spreading it out over two accounts can make trading a bit more difficult for certain trading styles.

Looking forward to seeing you in the Combine soon. Happy New Year!

mp


I will take your advice to heart. I'll put back a little extra cash during the next few months
for living expenses, then switch accounts and give the combine a whirl.

This would allow me to just trade normally. Thank you

Also, starting with the 30k account would keep my RR thinking in line with my current trading style.

We have a plan.

Barring no major drawdown period, you should see me by warmer weather

danke


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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Old January 7th, 2014, 05:09 AM   #300 (permalink)
Elite Member
Beer Sheva,Israel
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Ampfutures/CQG
Favorite Futures: TF,6E,CL,YM,NQ
 
Vincent Vega's Avatar
 
Posts: 168 since Sep 2011
Thanks: 35 given, 51 received

hi


A question please.
If i made the combine profit target in less then 10 or 20 days,
can i send it for evaluation or i should continue trading
all the combine days(10/20 days)?

Thank you.

“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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