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I had to come back to respond because this is such a subtle but excellent marketing gimmick that almost everyone will miss it, if not clarified. The key thing to note is that combine objectives have been designed SO TOUGH that the probability of one guy passing the combine 2 times or 3 times is...

Absolutely, its not fair comparison. My intention is not to attack Maverick with a counter question... I asked this so that it can give some education to newbies in the futures world. That is the only intention behind the question. You will note that I edited my post and moved it away from...

Maverick, Please let us know, these guys who are up 7 figures trading crude: 1) What is their daily loss limit? For Patak 50k account, it is 1k. 2) What is the limit on number of contracts they could trade? For 50k account at Patak, it is 5. 3) What is the limit upon hitting which they are...

You have been successful in enticing me to respond. You said you have met Patak and you found him a nice guy. I responded that just because a guys comes across as nice in a meeting doesn't mean his business dealings are fair and I used example of Madoff to illustrate this point. You sure are...

I didn't want to respond but to set the record straight, I will honor you with one last post. I never labelled them as ponzi scheme in the first place. You said something like I think they are ponzi scheme, I said I don't really know the exact definition, but from what I have heard what a ponzi...

I have no intention to respond anymore on this thread. I have spent a lot of time already and I have decided to cut my loss at this point. I am outta here. Good Luck to everyone.

I bow to you Sir for writing a very thought-provoking post. I would have really helped making an iota of change in the world had I gone and met Bill Gates and asked him for 100k grant for setting up an organization to fight Child Malnutrition in an Eastern European country rather than spending...

Oh, noobs are the guys who give money to us professional traders. Maybe I should ask ET mods to delete this thread. I might be making my own executions harder by talking too much on this thread. LOL :)

Alright its a conjecture and I can't prove it but I am 99.99% certain that they are making money of comms. I will be happy to have a 10k bet on this. :) Other professional futures traders - feel free to comment if you think Patak is making money from comms or not. It will help clarify. Thanks.

A firm can get comms discount based on the volume of all its live traders put together. But they are charging a trader 1.25+exchange fess per side. According to my calculations, they are keeping in 63 cents per side = 1.26$ per round trip. So, yes if they say they are not making money on...

I don't know if he ever said this explicitly. But if he has said that he is not making any money from the commissions, then Yes I am calling him a LIAR on this point. Please read my post#2 on the other thread "The bitter truth about Patak trading". Cheers. I don't know how courts define a...

Thanks for commenting. A lot of ET posters feel that Maverick is the only guy from Chicago here who knows how the industry works. LOL.

Wrong, Wrong, Absolutely Wrong! Volente has been saying this in the other thread for sometime now. I will write it down more clearly so that everyone is clear on this point. For an individual trader, yes it is there money to a large extent. As an individual trader, you are going to pay for...

Common, I am not being unreasonable if I am telling to have everything in writing. When you open a fully funded brokerage account, then also you sign an agreement. Verbal stuff doesn't hold. Please don't get angry at me :)

LF - If it pans out the way you describe it, you are not missing anything. IMHO, you are looking at only the bright side of it. Question is will it pan out this way? As Lucias asked, how many Patak traders have been successful in making 15k, in making 30k, in making 50k. Are there 4...

LF - one suggestion. Get them to give everything to you in writing, all the conditions, absolutely everything. Don't rely on what a scout told you on phone. If the trailing stop is on realized profits and not open profits, tell them to clarify this clearly in the PDF. What I really find...

I partially agree with this. My first post in which I wrote about Maverick - probably was not warranted. However, it was also important to 'some extent' - simply because so many people at ET think so highly of Mav that if I felt Mav is hand in glove with Patak, that needed to be exposed. But...

Thank you sir!

Don't keep saying how great you are Maverick. It is irritating to say the least. If you are so good and you have so many connections in Chicago, you should be working at Infinium, Jump, Getco as head of trading. Fact is - you are working as a Bright trader. It means your resume is neither...

I haven't accused him of anything YET. I as others are simply asking questions NOW. Lucias mentioned a CFTC case which sounds very similar to Patak. I stress it sounds similar only - I haven't accused Patak of anything YET! And, eventually if I do decide to accuse him of anything (say...