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  1. M

    The bitter truth about Patak Trading

    There is no way they have 200 paid combines running a month. I'll take that bet right now and bet Michael the first beer on that! I never said it was a great gig. Some of you guys are not listening. I wrote an entire post earlier on this thread about the options available to traders...
  2. M

    The bitter truth about Patak Trading

    OK, I know I'm going to get attacked here. This might sound harsh, but dude, if you are losing that kind of money, no one is ever going to back you. And I don't mean "you" personally. I'm not try to make this about you. But that guy you are describing is not going to get backed. This is...
  3. M

    The bitter truth about Patak Trading

    Honestly, that ship has sailed. I doubt most of these guys believe we ever landed on the Moon. :)
  4. M

    The bitter truth about Patak Trading

    They are not. I'll bet you a dime to a dollar that less then 1% of the guys that do that combine make it on their first try.
  5. M

    The bitter truth about Patak Trading

    Great. So what funds are you investing your money in based on "past performance" of managers. LOL.
  6. M

    MSNBC..fair and balanced

    There's more... http://thehill.com/conventions-2012/gop-convention-tampa/247011-chris-matthews-gets-into-confrontation-with-gop-delegates Chris Matthews gets into confrontation with GOP delegates By Erik Wasson and Russell Berman - 08/31/12 04:27 PM ET TAMPA, Fla. — MSNBC host...
  7. M

    MSNBC..fair and balanced

    <object id="flashObj" width="560" height="315" classid="clsid:D27CDB6E-AE6D-11cf-96B8-444553540000" codebase="http://download.macromedia.com/pub/shockwave/cabs/flash/swflash.cab#version=9,0,47,0"><param name="movie" value="http://c.brightcove.com/services/viewer/federated_f9?isVid=1&isUI=1"...
  8. M

    The bitter truth about Patak Trading

    I guess it's better to let Michael answer this but my guess is they will not cut you off till you go negative. In other words, if you are on the 50k and are up 1800 and you drop 600, you are still good. If you drop 1800, you are probably still good. I think once you go negative, that is when...
  9. M

    The bitter truth about Patak Trading

    To be fair, I've been reading his site for awhile and I only noticed that pdf file in the last couple of months. I NEVER saw it posted before. I honestly think that is a new addition. As for the trailing stop, let's be honest for a second, that is on a 50k account, the 2nd smallest...
  10. M

    The bitter truth about Patak Trading

    This answers my question from the other thread. It looks like I was right. GMST, are you clear on this now? I thought it was spelled out pretty directly on his website with the "no profit objectives" but I understand that pdf file contradicted it a little. Also, it looks like they only...
  11. M

    The bitter truth about Patak Trading

    Michael, I'm in Houston at the moment. I'll be back in Chicago next week (Wednesday). I'm going to take you up on that drink!
  12. M

    The bitter truth about Patak Trading

    Michael, can you address this point. I kind of took the liberty earlier to say this is NOT the case. It's my understanding that once you go live, the only thing you have to adhere to is the max daily loss which still cuts you off if you hit it for the day. I could be wrong about this. So...
  13. M

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

    Michael, you're doing a great job answering their questions. You have to be pretty patient with this bunch. I'm glad everything is civil now. As a heads up, very few people on this message board understand the prop industry and fewer understand futures. So you might have to go out of your...
  14. M

    The bitter truth about Patak Trading

    For the most part, yup. I've been in Chicago for 9 years so I can only speak about how it works here, but like NY, it's really a "who you know" kind of town. That's not to say if someone who obviously can't trade has a lot of friends at prop firms that someone will hire them. It simply means...
  15. M

    The bitter truth about Patak Trading

    Ten year live track record? Bwahahaha. Come on dude, there are like 6 hedge funds that have that out of a pool of 10k. Let's try to keep this serious. And why is a guy with a 10 year live track record looking for backing? Never mind, don't answer.
  16. M

    The bitter truth about Patak Trading

    I managed an office for 5 years and over that time I saw a lot of track records. I wouldn't wipe my ass with most of them. That's a very very long conversation that might be more appropriate for another thread. I have no issues with discussing it with you, it's just might be off topic here...
  17. M

    The bitter truth about Patak Trading

    Yes TST wants to make money. So does IB. So does Baron! Why doesn't Baron give away his advertising for free? I still am lost here. It seems that you think the consumer is not smart enough to make a decision. But why do you care? I don't care if some idiot opens a FX account with 50 to 1...
  18. M

    The bitter truth about Patak Trading

    Does this make any sense though? TST wants to make money right? You want to make money right? OK great. So we have a market now. We have a bid, which is you and what you are willing to pay. We have an offer, which is TST and what they are offering. A sale takes place when you and TST...
  19. M

    Hey Baron

    Alright Joe. Fair enough. Maybe you're right. I just wish he would tone it down on the more serious threads. Moderators are not suppose to double as trolls.
  20. M

    The bitter truth about Patak Trading

    That was one of my first posts about TST. I clearly stated that I doubt many of the funded traders would make it. I've been in the prop firm industry for over a decade. I know what the failure rates are. They are VERY high. We had a 100k minimum at VTrader. And guys went through that like...
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