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  1. M

    The bitter truth about Patak Trading

    Where can you trade 15 contracts intra-day of the full size Gold contract for 7500? Please list all the brokers. Same with 15 contracts of Crude Oil. I'm really curious about this.
  2. M

    TopstepTrader and Patak Trading Partners- Any and all questions answered here

    If there is one thing on this entire thread that ALL of us agree on, it's just how tough this is. LOL. That's not up for debate. At least not yet. :)
  3. M

    TopstepTrader and Patak Trading Partners- Any and all questions answered here

    Seventeen traders seems like a lot. That's impressive if they actually have that many live guys now. I'm also curious how they define 500 are "in the program". A lot of guys do combines spread apart. So is that 500 at one time or 500 people have signed up. Even if we take that 17 into 500...
  4. M

    TopstepTrader and Patak Trading Partners- Any and all questions answered here

    Yes, a GIB does not have to put up capital as he cannot hold the accounts, the FCM does and guarantees the accounts to the exchanges. A regular IB has to put up a lot of money and can accept orders to execute trades while the accounts are held at the FCM. There is far more licensing and cost...
  5. M

    The bitter truth about Patak Trading

    BTW, this has been bugging me for the last 20 or so pages. The assumption or even the desire to trade ES. Almost nobody at TST trades the e-mini. Most trade Crude Oil or Currencies. Some trade Gold and Bonds and recently the grains. I am only bringing this up because the ES is absolutely...
  6. M

    TopstepTrader and Patak Trading Partners- Any and all questions answered here

    Regarding commissions, there are only two legal ways for him to be making money on them. He either is operating as an FCM which I did not see on his NFA registration. Or he is an IB. An IB is an introducing broker. An IB can earn some of the commissions from an FCM if they refer business to...
  7. M

    TopstepTrader and Patak Trading Partners- Any and all questions answered here

    Shan, I can tell you right now that there program is not anymore successful then anywhere else's. Come on dude, we both know this game. You worked at Avatar. How many guys made money over there? At VTrader, we had over 120 traders, I would guess less then 10 of those accounts were profitable...
  8. M

    TopstepTrader and Patak Trading Partners- Any and all questions answered here

    Gmst, I explained in detail how I came about TST and what my interest is in this. If you don't want to accept that, fine, let's move on. I think I see where our communication breakdown is. See, I don't have an issue with TST because the rules are given before hand. Every one knows what...
  9. M

    TopstepTrader and Patak Trading Partners- Any and all questions answered here

    I'm not defending Patak, I'm defending the business model. There are other firms doing something similar. The model works. It should be defended. Let me give a little more color on this. There is a guy on this thread, Lucias, who has been begging me for 6 months to back him. He has a...
  10. M

    TopstepTrader and Patak Trading Partners- Any and all questions answered here

    If I ran a company like this, I would run it a little differently. To be honest, I would make it harder but also more fair. I wouldn't do a 10 or 20 day combine. I would do a 6 month combine and charge A LOT more money for it. I would relax some of the rules at the beginning and basically...
  11. M

    TopstepTrader and Patak Trading Partners- Any and all questions answered here

    No way. I'll make a market on this. I have a slight edge as I've been in their chat room and saw the number of badges in there. My exact guess would be around 75 or so but I'll make the market at 100 current combines of which 80 are paid for. That's current as in Friday's numbers. My guess...
  12. M

    TopstepTrader and Patak Trading Partners- Any and all questions answered here

    You need to study for the 7 and look up the definition of churning. Nobody on this thread seems to understand what the word means which of course is par for the course. This is "elite trader"!
  13. M

    TopstepTrader and Patak Trading Partners- Any and all questions answered here

    This is pure hyperbole. You are accusing him of having too strict rules and you are equating this to a CFTC investigation? What are you charging him with? Get it on the record and put your name on this thread so he can sue you properly for slander. And for the record, churning is not...
  14. M

    TopstepTrader and Patak Trading Partners- Any and all questions answered here

    Guys, it's labor day weekend. It's a holiday! It's a weekend! He is not going to respond back to you until Tuesday. Nobody is stonewalling. Man you guys are something else. I just thought of a terrific idea. I don't know why I didn't think of it earlier. Fund your own accounts...
  15. M

    The bitter truth about Patak Trading

    Gmst, I think you are still confused. The trailing stop does NOT apply on the combine. So on the combine, where you have profit objectives, there is no trailing stop rule. When you go live, they ask that you use a p&l trailing stop, but you also don't have any profit objectives. Just wanted...
  16. M

    The bitter truth about Patak Trading

    I don't really care what their trailing stop rules are. I'm guessing if you actually were willing to pick up the phone and talk to Michael he would probably waive that for you. I'm just going on your earlier statement that making $250 a day was too tough for you and now you are saying you are...
  17. M

    The bitter truth about Patak Trading

    Entitlement generation is right. There are people on this board who think being backed is a constitutional right. It's all so easy to make money trading yet all these guys have their hand out asking for money. It drives me nuts. Of course all you have to do is flip everything around and see...
  18. M

    The bitter truth about Patak Trading

    Who said anything about Citadel or Getco? We are talking futures prop firms here right? So let's name some. Jump, Chopper, Breakwater, TMG, Infinium, etc. There really are no other firms like TST so we have to compare them to other alternatives with are futures prop firms in the Chicago...
  19. M

    The bitter truth about Patak Trading

    Here's the problem. YOU won't back him with your capital. You are simply telling him that HE should risk HIS money. No shit Sherlock. People can do whatever they want with their money. I have stated that 100 times. I'm saying you won't back him and that is what this all comes down to. Ask...
  20. M

    The bitter truth about Patak Trading

    No, once again gmst, you are acting like a child. I see you are reverting back to your old self before you started acting semi-mature. I never said a trader can't make it losing 2% a day, twice a month. I said you will never get BACKED with those numbers. Do you have any fucking clue...
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