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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:113,094 / 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 February 25th, 2016, 12:58 PM   #731 (permalink)
Trading Apprentice
Bangalore+India
 
Futures Experience: Intermediate
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Surprise View Post
Why they call it a $30K combine then ? Surely you are not allowed to lose $30K nor you need that much to daytrade 1-3 lots , so whats the point from calling combines $30K or $100K ?

It's just to bifurcate the risk strategies. In any case, you are trading their money and just because it's not your doesnt mean they will let you lose 30K... For a 3 lot trade, you dont need more than 1500 to tradw with certain brokers. It's just that a lot can be efficiently traded with 10K with proper risk and management.
Also, once you pass the combine, it doesnt really matter from which combine you come. With scaling plan, you can get more buying power and increase your daily loss limit by speaking with funds department.

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Old February 25th, 2016, 02:42 PM   #732 (permalink)
Elite Member
Arlington
 
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Coupon code

Just wondering when the coupon code will be sent out to register for the combine. Registered my email with the link provided after the webinar. Haven't received an email yet. Just wondering. Thanks in advance.

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Old February 25th, 2016, 02:46 PM   #733 (permalink)
Trading for Fun
Atlanta GA USA
 
Futures Experience: Advanced
Platform: thinkorswim/Ninja Trader
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moneyflip View Post
Just wondering when the coupon code will be sent out to register for the combine. Registered my email with the link provided after the webinar. Haven't received an email yet. Just wondering. Thanks in advance.

Same here. The page was a combine for $1 I believe.

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Old February 25th, 2016, 02:46 PM   #734 (permalink)
Market Wizard
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Futures Experience: Intermediate
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moneyflip View Post
Just wondering when the coupon code will be sent out to register for the combine. Registered my email with the link provided after the webinar. Haven't received an email yet. Just wondering. Thanks in advance.

Have had the same thoughts. I guess I should be patient.

Bob.

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Old February 25th, 2016, 03:25 PM   #735 (permalink)
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ITAJAI SC/BRAZIL
 
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24/48h

Futures Edge on FIO

Are you a NinjaTrader user?

 

moneyflip View Post
Just wondering when the coupon code will be sent out to register for the combine. Registered my email with the link provided after the webinar. Haven't received an email yet. Just wondering. Thanks in advance.

I think the limit time is 48h... would it be... tomorrow?

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Old February 25th, 2016, 03:59 PM   #736 (permalink)
Trading for Fun
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MrTrader View Post
I think the limit time is 48h... would it be... tomorrow?

Well it was around 8pm Tuesday, right? So if filled out then, should have something by 8pm tonight. They did say within 48 hours, which I assume means they send it out manually. But the way the two webinars have gone, I wouldn't hold my breath.

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Old February 25th, 2016, 04:19 PM   #737 (permalink)
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iqgod View Post
Trading Combine Rules
1. Trade a minimum of 10 days
2. Trade permitted products and times
3. Do not hit or exceed the Daily Loss Limit
4. Do not allow your Account Balance to hit or exceed the Trailing Max Drawdown

REMOVED:
Always implement stops with an open position
Achieve at least 45% Profitable Days
Achieve an Average Net P&L greater than $0 for each product traded

Thus you need not have a hard stop in the market while trading for the combine, but need to ensure that you do not hit the Daily Loss Limit

Thanks for response. To clarify my question is can you manually implement stop after the position was entered?
I am talking seconds after. Not wait to see what price does, just if you have to always use atm which automates your stop.

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Old February 25th, 2016, 04:27 PM   #738 (permalink)
Trading for Fun
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KahunaDog View Post
Thanks for response. To clarify my question is can you manually implement stop after the position was entered?

I am talking seconds after. Not wait to see what price does, just if you have to always use atm which automates your stop.

Using a little deductional thinking here, I may be wrong, but since the "Always implement stops with an open position" was removed, that doesn't sound like you have to have a stop. And since you don't have to have one, I assume it wouldn't matter when you actually placed it if you wanted to use one.

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Old February 25th, 2016, 04:31 PM   #739 (permalink)
Market Wizard
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KahunaDog View Post
Thanks for response. To clarify my question is can you manually implement stop after the position was entered?
I am talking seconds after. Not wait to see what price does, just if you have to always use atm which automates your stop.

First, you no longer have to have a stop. That was in the old rules, changed the beginning of the year. They recommend stops, but do not require them. So put them on whenever you want to, or not.

In the old days, they were OK with you just manually putting it on in a reasonable time. Now, it's totally up to you.

You can check that stops are no longer mentioned in the rules.

Bob.

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Old February 25th, 2016, 04:34 PM   #740 (permalink)
Market Wizard
Sarasota FL
 
Futures Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Favorite Futures: ES, CL
 
Posts: 3,476 since Jan 2013
Thanks: 24,961 given, 10,580 received
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emini2000 View Post
Using a little deductional thinking here, I may be wrong, but since the "Always implement stops with an open position" was removed, that doesn't sound like you have to have a stop. And since you don't have to have one, I assume it wouldn't matter when you actually placed it if you wanted to use one.

It was actually discussed in one of their online chat sessions with @Hoag when the rules were changed: you don't have to have a stop any more. They do recommend it, as a safety measure, but that's all.

Bob.

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