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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:113,181 / 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 January 7th, 2014, 10:08 AM   #301 (permalink)
 Vendor: www.topsteptrader.com 
Chicago, IL
 
Futures Experience: Advanced
Platform: NinjaTrader, CTS (T4), Siera Chart, Market Delta, Esignal, FXCM, R trader Pro
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Vincent Vega View Post
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.

Vincent- You must complete all days of trading whether that be in a 10 day Combine or 20 Day Combine. This allows our scout team to get the info we need to present your performance to our equity partner (with confidence). One great day does not tell much about a trader. The more data the better.

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 7th, 2014, 10:28 AM   #302 (permalink)
Market Wizard
Sarasota FL
 
Futures Experience: Intermediate
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TopstepTrader View Post
This allows our scout team to get the info we need to present your performance to our equity partner (with confidence). One great day does not tell much about a trader. The more data the better.

mp

Hi, Michael,

This answer gave me a question: if "the more data the better," would you guys feel more confident about a 20-day Combine compared to a 10-day? I know that you have had people get funded after a 10-day, but, ideally, which would be your preference?

Also, other things being equal, do you think that a successful 20-day performance would make you less likely to want someone to take the Live Trader Prep?

Another way to put this would be, which shows how prepared a trader is (other things being equal)?

I know that every case is different, and that you make your decisions on a case-by-case basis; I'm trying to figure out the next Combine I want to take. Your opinion about trader preparation will matter.

Thanks, this is a great program.

Bob.

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Old January 7th, 2014, 10:58 AM   #303 (permalink)
 Vendor: www.topsteptrader.com 
Chicago, IL
 
Futures Experience: Advanced
Platform: NinjaTrader, CTS (T4), Siera Chart, Market Delta, Esignal, FXCM, R trader Pro
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bobwest View Post
Hi, Michael,

This answer gave me a question: if "the more data the better," would you guys feel more confident about a 20-day Combine compared to a 10-day? I know that you have had people get funded after a 10-day, but, ideally, which would be your preference?

Also, other things being equal, do you think that a successful 20-day performance would make you less likely to want someone to take the Live Trader Prep?

Another way to put this would be, which shows how prepared a trader is (other things being equal)?

I know that every case is different, and that you make your decisions on a case-by-case basis; I'm trying to figure out the next Combine I want to take. Your opinion about trader preparation will matter.

Thanks, this is a great program.

Bob.

Bob- Ideally, the more data the better. Those that complete the 20 day Combine verse the 10 day Combine aren't necessarily better traders. They typically seem to be more patient traders which would ultimately give you a bit more confidence in that traders mental strength.

As for the traders that would be asked to particapate in Live Trader Preparation, this would be more due to inconsistency in their trading. Whether they were in a 10 day or 20 day does not matter.

Lastly, yes you are correct, each trader is a case by case situation as all traders are NOT created equal. I hope that sheds some light.

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 25th, 2014, 02:29 PM   #304 (permalink)
Elite Member
Portland Oregon, United States
 
Futures Experience: Beginner
Platform: Ninjatrader®
Broker/Data: CQG, Kinetick
Favorite Futures: Gameplay Klownbine® Trading of Globex
 
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I am eager to begin my Combine, but first have a couple of questions.

Entering a Combine, I would have an expectation that of the Funded Traders already having met the various requirements, some number would have become financially self supporting through their trading.

Despite looking on the Topstep website and elsewhere, I have been unable to locate any information about what Topstep or PTP consider to be reasonable success metrics for their Funded Traders in terms of being able to make a living, or any information about the number of funded traders, if any, who are making enough money from their trading of Patak equity to live on. Kindly let me know where I might find this information.

On the Topstep website, The Start Your Combine Now link goes directly to a credit card payment page. I did not notice any terms and conditions to be read and agreed to, did not see an "I Agree" check box, and did not notice any disclosures specifically pertinent to participation in the Combine. Kindly advise what are the terms of the contractual relationship between a customer who pays for a Combine, and Topstep Trader?

Thank you for taking the time to consider these questions.

"If we don't loosen up some money, this sucker is going down." -GW Bush, 2008
“Lack of proof that something is true does not prove that it is not true - when you want to believe.” -Humpty Dumpty, 2014
“The greatest shortcoming of the human race is our inability to understand the exponential function.”
Prof. Albert Bartlett

Last edited by Zondor; January 25th, 2014 at 06:08 PM.
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Old January 27th, 2014, 07:15 PM   #305 (permalink)
Elite Member
Colombia
 
Futures Experience: Intermediate
Platform: NinjaTrader, MarketDelta
Favorite Futures: Eurex
 
Posts: 17 since Mar 2013
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Eurex futures

Futures Edge on FIO

Are you a NinjaTrader user?

 
Hi Michael,

Any plans yet to add eurex futures to the combine?

Thanks

Peter

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Old January 28th, 2014, 01:17 PM   #306 (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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Posts: 192 since Feb 2013
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Zondor View Post
I am eager to begin my Combine, but first have a couple of questions.

Entering a Combine, I would have an expectation that of the Funded Traders already having met the various requirements, some number would have become financially self supporting through their trading.

Despite looking on the Topstep website and elsewhere, I have been unable to locate any information about what Topstep or PTP consider to be reasonable success metrics for their Funded Traders in terms of being able to make a living, or any information about the number of funded traders, if any, who are making enough money from their trading of Patak equity to live on. Kindly let me know where I might find this information.

On the Topstep website, The Start Your Combine Now link goes directly to a credit card payment page. I did not notice any terms and conditions to be read and agreed to, did not see an "I Agree" check box, and did not notice any disclosures specifically pertinent to participation in the Combine. Kindly advise what are the terms of the contractual relationship between a customer who pays for a Combine, and Topstep Trader?

Thank you for taking the time to consider these questions.


Sander- To answer your first question, we take the privacy of our funded traders very seriously and protect our talent from being poached, therefore we do not publicly announce how much money they are making in their live accounts. However, our Combine has helped more than 300 traders become funded through the equity partner, and 2-3 traders are becoming financially backed each week. We interview these traders each time they move to the funded level, so please feel free to stop in and check it out. You would then have the opportunity to ask any trader with a green L any questions you ask.

As a side note we are publicly interviewing a new funded trader today. The room is open to guests and the broadcaster does from time to time take questions from the chat room for the funded trader.

As for the second part, if you signed up with us, then you have already agreed to the Term and Conditions as stated when you click the submit button. Beyond that, we do not require our traders to click on an "I Agree" button for every purchase as the terms and conditions covers this from your original sign up.

When you sign in, on your dashboard on the TST website, you can click on the Combine Rules link to learn more about the parameters of the evaluation. And, I would definitely recommend signing up for an information phone call with a member of our team as that will help provide more clarity. We'd be happy to walk you through what the Combine means and answer any questions you might have.

I hope that helps.

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 29th, 2014, 04:12 PM   #307 (permalink)
 Vendor: www.topsteptrader.com 
Chicago, IL
 
Futures Experience: Advanced
Platform: NinjaTrader, CTS (T4), Siera Chart, Market Delta, Esignal, FXCM, R trader Pro
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PK007 View Post
Hi Michael,

Any plans yet to add eurex futures to the combine?

Thanks

Peter

PK007- We have spoken with them and are working on it. I have no date for you as of yet and it doesn't look like it will be anytime this quarter. We are in the hurry up and wait mode.

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 March 12th, 2014, 09:55 AM   #308 (permalink)
Membership Temporarily Revoked
London, UK
 
Futures Experience: Master
Platform: sierra chart, Jigsaw Trading, Bookmap
Favorite Futures: 6E futures, Cable
 
Posts: 93 since Aug 2012
Thanks: 3 given, 116 received

Apologies if this was answered before, but I was wondering if data was made available when doing a combine? If so, which data source are you using/providing?

Is there a promotional code for futures.io (formerly BMT) members please?

Looking to join a combine today, but would just need those 2 questions answered.

Cheers

Dom

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Old March 12th, 2014, 10:09 AM   #309 (permalink)
Elite Member
Mérida, Mexico
 
Futures Experience: Intermediate
Platform: NinjaTrader 7
Broker/Data: CapTrader / Kinetick
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dom64 View Post
Apologies if this was answered before, but I was wondering if data was made available when doing a combine? If so, which data source are you using/providing?

Is there a promotional code for futures.io (formerly BMT) members please?

Looking to join a combine today, but would just need those 2 questions answered.

Cheers

Dom

I have an additional question for @TopstepTrader, right now I'm working with IB, NT7 and Kinetick. When I want now open a combine do I have to change from the NT7 Single Broker licence to an Multi Broker licence and what about Kinetick, to I need it anymore or you give me the data?

thanks for your response

Michael

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Old March 12th, 2014, 11:28 AM   #310 (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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Posts: 192 since Feb 2013
Thanks: 40 given, 584 received



dom64 View Post
Apologies if this was answered before, but I was wondering if data was made available when doing a combine? If so, which data source are you using/providing?

Is there a promotional code for futures.io (formerly BMT) members please?

Looking to join a combine today, but would just need those 2 questions answered.

Cheers

Dom

DOM- When in the Combine you will be trading in a real-time simulated market. All your trades are collected each day and uploaded to your trade report. Our scout team reviews trade reports that are following the rules and meeting or exceeding their profit target.

As for a promotional code for futures.io (formerly BMT) members. We do have this, please contact support@topsteptrader.com and they will help you out.

Hope that helps and trade well.

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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