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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:113,014 / 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 20th, 2013, 08:07 PM   #41 (permalink)
 Vendor: www.topsteptrader.com 
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Anagami View Post
Michael,

I hope you still check this thread to answer questions.

Is it possible to trade for TST out of Asia after passing the Combine? I'm thinking of retiring to Thailand and trading for you out of there.

Anagami- We are a global scouting agency for traders so yes you are good to go.

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 21st, 2013, 04:21 PM   #42 (permalink)
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Tip


There will be a Live AMA session on Thursday, April 4th @ 12:00 PM ET.

- Quick and casual, 30 minute cap
- No prepared presentation
- Live screen sharing
- Floor will be opened immediately to questions
- Recording uploaded to AMA thread afterwards
- Attend live to get your questions answered

The link for the event is:
https://www3.gotomeeting.com/register/449351110




Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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Old March 21st, 2013, 05:40 PM   #43 (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, 581 received



Big Mike View Post
Tip


There will be a Live AMA session on Thursday, April 4th @ 12:00 PM ET.

- Quick and casual, 30 minute cap
- No prepared presentation
- Live screen sharing
- Floor will be opened immediately to questions
- Recording uploaded to AMA thread afterwards
- Attend live to get your questions answered

The link for the event is:
https://www3.gotomeeting.com/register/449351110




Mike

Looking forward to it.

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 23rd, 2013, 11:31 AM   #44 (permalink)
Elite Member
Quebec
 
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Broker/Data: Stage 5 trading/AMP/Rithmic
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Posts: 3,615 since Oct 2009
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I was privately discussing the following aspect with josh and he asked me to go directly to the source as it was not clear for him either. So here is my question:

Do you know the tax implications for a US resident as well as for someone outside the US. What about a wannabe trader that passes the combine and is offered the possibilty to trade real money? Will he be considered as an independant worker in terms of US taxes? Does the location change something i live Canada, province of Quebec? Are there any constraint imposed by financial regulation in Canada for this type of activity?

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Old March 23rd, 2013, 11:55 AM   #45 (permalink)
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trendisyourfriend View Post
Do you know the tax implications for a US resident as well as for someone outside the US. What about a wannabe trader that passes the combine and is offered the possibilty to trade real money? Will he be considered as an independant worker in terms of US taxes? Does the location change something i live Canada, province of Quebec? Are there any constraint imposed by financial regulation in Canada for this type of activity?

Well, there's the same question for me since I'm located in Germany, and it will be a quite hard piece of work for me to explain this kind of relationship with TST to German tax authorities as well...

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Old March 23rd, 2013, 04:41 PM   #46 (permalink)
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Nashville, Tennessee
 
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Daytrader999 View Post
Well, there's the same question for me since I'm located in Germany, and it will be a quite hard piece of work for me to explain this kind of relationship with TST to German tax authorities as well...



"German Tax Authorities" sound frightening.


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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Old March 23rd, 2013, 04:59 PM   #47 (permalink)
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tderrick View Post
"German Tax Authorities" sound frightening.

You bet !!

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Old March 23rd, 2013, 05:58 PM   #48 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
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Posts: 45,552 since Jun 2009
Thanks: 28,888 given, 80,186 received

In prior webinars he mentioned TST will 1099 you.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
     
The following 2 users say Thank You to Big Mike for this post:
     

Old March 23rd, 2013, 06:09 PM   #49 (permalink)
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It has to be a 1099 because you're using your own computer, office space and hours are dictated by oneself.

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Old March 25th, 2013, 09:59 AM   #50 (permalink)
 Vendor: www.topsteptrader.com 
Chicago, IL
 
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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, 581 received



trendisyourfriend View Post
I was privately discussing the following aspect with josh and he asked me to go directly to the source as it was not clear for him either. So here is my question:

Do you know the tax implications for a US resident as well as for someone outside the US. What about a wannabe trader that passes the combine and is offered the possibilty to trade real money? Will he be considered as an independant worker in terms of US taxes? Does the location change something i live Canada, province of Quebec? Are there any constraint imposed by financial regulation in Canada for this type of activity?

trendisyourfriend- All funded traders are independent contractors (1099-misc). As for any tax advice, we try not to get involved with that. We recommend all traders seek the advice of their tax professional.

As for your question about Canada. We currently have a funded trader from this country.

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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