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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:113,169 / 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 March 21st, 2014, 09:46 AM   #321 (permalink)
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Theodutchtrader View Post
Does anybody have information how you as a junior or seniortrader be paid? Is this ones a month or two times a months.
I can't find any information on the site of topsteptrader.


Visit this page https://www.topsteptrader.com/learnmore and scroll down to "Funded Trader Account Details". This is also a good resource for just that info. Funded Trader ? Help & Feedback Center

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Old March 21st, 2014, 10:18 AM   #322 (permalink)
Market Wizard
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Theodutchtrader View Post
Does anybody have information how you as a junior or seniortrader be paid? Is this ones a month or two times a months.
I can't find any information on the site of topsteptrader.

Hi, I'm not anyone who can answer officially for TsT, but I recall that the question has come up a few times on the Friday Squawk broadcast they to with Michael Patak, and here is what I have understood. Note that anything I write is not official, but I think it's right:

1. Junior traders cannot take withdrawals from the account.

2. They become senior when they have accumulated their required account balance (which varies based on the Combine they passed to become funded), if they also do not lose more than their maximum trailing drawdown and meet the other performance standards.

3. Once they are seniors, it is up to them to decide when to ask for a withdrawal. Once they ask for one, TsT will take its share from the withdrawn amount and send them their share, based on the profit split in effect. Initially, the trader gets 60% and TsT gets 40; as the amount of profit the trader has made goes up, the split gets better for him -- first to 70/30 and then to 80/20. The web site has details.

4. Payouts, if requested, are made twice a month, on the first and the fifteenth.

5. If a junior trader has a positive profit balance but fails to meet one of the other requirements before going senior, his account is closed and TsT sends him the amount due him based on his split (which will be 60%).

Remember, I am not speaking for TopstepTrader, but these are the rules as I understand them. Perhaps @TopstepTrader can check me on this.

Bob.

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Old April 6th, 2014, 12:21 PM   #323 (permalink)
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Any news on making EUREX products available for the combine?

I remember you had them before

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Old April 7th, 2014, 10:09 AM   #324 (permalink)
 Vendor: www.topsteptrader.com 
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joselopezde View Post
Any news on making EUREX products available for the combine?

I remember you had them before

Joselopezde- We are working to get Eurex but do not have a date this will be available. Once we move further along in our discussions with them, I will provide a better update.

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 May 26th, 2014, 10:46 AM   #325 (permalink)
Trading for Fun
delhi, delhi, india
 
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Futures Edge on FIO
Is the data you provide through the TST program - the real time quotes, delayed?
Is it unfiltered data from the exchange?

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Old May 26th, 2014, 01:32 PM   #326 (permalink)
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nemeis45 View Post
Is the data you provide through the TST program - the real time quotes, delayed?
Is it unfiltered data from the exchange?

TST uses Rithmic data feed.

There's no delay on the quotes because otherwise you won't be able to trade your Combine account properly.

"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
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Old May 27th, 2014, 04:32 AM   #327 (permalink)
Trading Apprentice
Malaysia,Kualalumpur
 
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hi all;

TST has changed it's profit target (decreased it) recently .

1- which parameters of a combine can be customized ?(daily loss limit ,etc...)
2-some one said that draw down is twice the daily loss limit. in 150k combine it's not true.it seems 30k combine has the best parameters of a maximum draw down .is it possible to set draw down of a 150k account twice of daily loss limit too ?

Thanks

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Old May 27th, 2014, 09:03 AM   #328 (permalink)
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Is the 20 day combine gone? I only see 10 days on the site.

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Old May 27th, 2014, 09:13 AM   #329 (permalink)
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Is it possible to hold positions overnight or is the program limited to intra-day only?

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Old May 27th, 2014, 09:19 AM   #330 (permalink)
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sands View Post
Is it possible to hold positions overnight or is the program limited to intra-day only?

as their website says :if you want to hold overnight positions, you should close open positions manually before end of trading day and re open it after that manually when market is open again

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