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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:112,325 / 862
Last Reply:November 29th, 2016 (11:51 AM) Attachments:14

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

Old July 25th, 2015, 12:51 PM   #561 (permalink)
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Zach b View Post
Hi,
Can you please confirm that when you complete a combine,
and the LTP as documented below, the daily loss and max drawdown you are provided corresponds to the combine level that you have invested in with the only exception being the scaling plan? I have seen some things on the boards to the contrary so wanted to get clarification.
Thanks!
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You would certainly expect that to be the case (ie: pass the combine and simply continue trading the same way you did, with the exception of the scaling plan). But no, that is not the case. After going live you only have the max drawdown for 10 days, then it magically disappears. I detailed the issue here quite a while back:
https://futures.io/vendors-product-reviews/25776-topsteptrader-s-michael-patak-p...thing-46.html#post474180

The continuous combine is marketed to a certain type of trader,...yet when that trader passes the combine and gets funded they are placed under arbitrary 10 day rules.

When they implemented that rule, I stopped participating in the combine and returned to my personal account because their business model became crystal clear and no longer aligned with what I consider to be reasonable and in the interest of both parties.

You donít trade the markets; you only trade your beliefs about the markets.
- Van K Tharp
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Old July 25th, 2015, 07:14 PM   #562 (permalink)
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DarkPoolTrading View Post
You would certainly expect that to be the case (ie: pass the combine and simply continue trading the same way you did, with the exception of the scaling plan). But no, that is not the case. After going live you only have the max drawdown for 10 days, then it magically disappears. I detailed the issue here quite a while back:
https://futures.io/vendors-product-reviews/25776-topsteptrader-s-michael-patak-p...thing-46.html#post474180

The continuous combine is marketed to a certain type of trader,...yet when that trader passes the combine and gets funded they are placed under arbitrary 10 day rules.

When they implemented that rule, I stopped participating in the combine and returned to my personal account because their business model became crystal clear and no longer aligned with what I consider to be reasonable and in the interest of both parties.

Hi DarkPool,
What you mentioned (RE the 10 days) is documented in the image that I posted. My question is just making sure that you get that same max drawdown during those 10 days if that is the combine you pay for, since some of the other older post by other members make it seem like you do not.

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Old July 27th, 2015, 06:48 PM   #563 (permalink)
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Also


Is the scaling plan based on equity high at close or intraday activity?

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Old July 28th, 2015, 06:15 PM   #564 (permalink)
 Vendor: www.topsteptrader.com 
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Zach b View Post
Is the scaling plan based on equity high at close or intraday activity?

Zach,

The scaling plan is based on equity high at close and the equity level need not be maintained to continue at the larger trade size.

Hope this clears it up. Trade well.

Hoag

If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at support@topsteptrader.com or 888.407.1611.
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Old July 28th, 2015, 06:19 PM   #565 (permalink)
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Zach b View Post
Hi DarkPool,
What you mentioned (RE the 10 days) is documented in the image that I posted. My question is just making sure that you get that same max drawdown during those 10 days if that is the combine you pay for, since some of the other older post by other members make it seem like you do not.

Zach,

You have the same max drawdown you had in the Combine you were successful in for the first 10 trading days. Trade well.

Hoag

If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at support@topsteptrader.com or 888.407.1611.
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Old July 29th, 2015, 01:33 PM   #566 (permalink)
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Thanks Hoag

Thanks for clarifying.

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Old July 29th, 2015, 07:05 PM   #567 (permalink)
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A clarifying question please. Are all funded traders funded at the combine levels they have purchased and passed or is every funded trader funded at the $30,000 mark. For instance if you purchased a $150,000 combine and passed it and a LTP is this going to be your funded level? Just curious, Hoag?

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Old July 30th, 2015, 10:15 AM   #568 (permalink)
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Limited Reset

I have been trading the ES and Crude Oil for my combine. My trading system works very well on CL and not so well on ES. I looks like I have to go back to the drawing board to adapt the system to trading ES. If you judge my performance on just CL, I would qualify for my combine. Is there an option to reset just the ES. I am willing to accept a ban on trading the ES on my live account for some time. It will suck if I have to reset the entire account and start fresh.

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Old July 30th, 2015, 12:37 PM   #569 (permalink)
 Vendor: www.topsteptrader.com 
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jeffalan View Post
A clarifying question please. Are all funded traders funded at the combine levels they have purchased and passed or is every funded trader funded at the $30,000 mark. For instance if you purchased a $150,000 combine and passed it and a LTP is this going to be your funded level? Just curious, Hoag?

Jeffalan,

Yes, your funded level is the same as the Combine your were successful in. We do ask that you scale your strategy initially but the larger account sizes can leverage much quicker.

Hoag

If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at support@topsteptrader.com or 888.407.1611.
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Old July 30th, 2015, 12:41 PM   #570 (permalink)
 Vendor: www.topsteptrader.com 
Chicago Illinois
 
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TraderG View Post
I have been trading the ES and Crude Oil for my combine. My trading system works very well on CL and not so well on ES. I looks like I have to go back to the drawing board to adapt the system to trading ES. If you judge my performance on just CL, I would qualify for my combine. Is there an option to reset just the ES. I am willing to accept a ban on trading the ES on my live account for some time. It will suck if I have to reset the entire account and start fresh.

TraderG,

We are happy to see you are doing well in CL and hopefully improving your skills everyday. The current rules state that each product traded must have a trading average greater than $0 and there is no option to "reset" one product. If you are in a Continuous Combine you can work your way back to profitability in ES and then submit your Combine. I hope this helps clear things up and keep trading well.

Hoag

If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at support@topsteptrader.com or 888.407.1611.
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