Cooltraderdude's TopstepTrader Combine (daily trade report and journal)

Quote from Don Bright:

The "Big One for Big Drop" was $1million, but the "Big Game" is still $10,000.

And, just for fun, I really haven't read all the posts here. But back to your analogy to satellite tournaments, poker players are playing to WIN a spot or make money, Not to "hone their poker skill" as you say about the Combine.

I understand that all poker players, as all serious traders, should use their trading/playing as learning exercises as well, but as hitnrun says, the prize of a shared live account is the reason for paying the money and doing all of this. Simple paper trader can accomplish the same thing, or similar, without the monthly fee. But, the fee is paid in hopes of getting some backing.

And, yes, who knows, if I had 100 people willing to pay money to paper trade a demo account, with the winner getting a live account, I might do it too. Seems simple enough after thinking it through, no downside to us.

Not sure about the legalities of it, I may check.

All the best, Mav....

Don
More...

Thanks Don...! I can tell you get it! :cool:
 
re: Don Bright

Yes that may be true Don, however, as Mav mentioned what would be the point in going for gold and going balls in just to pass the combine? because you cant do that in real life as you know or you will go broke in a few days or weeks.

Getting funding is the goal --but without the discipline and practice of a real trader the point is lost...Patak seems to have created this to weed out all the people who only try to hit home runs...they are looking for the traders who love many singles...like Pete Rose remember him!! i bet you do.

that might be another reason why many fail or pass then get sent right back to combine because they have no real skill or discipline..and once they go live it shows.
 
Cool trader dude..

if the game is rigged for you to lose and its pointless then why were you a trader? and why are you here now? if its pointless are you just torturing yourself? is this a hobby?

brainwashed lol i have traded for while too... I dont take anyones word...i find out for myself...and from my (and many) peoples experience discipline is HUGE...you dont have to agree that is fine... and not making money trading isnt a big deal.
there is for sure some luck in this game no doubt, especially in the short run.
 
Quote from Don Bright:

The "Big One for Big Drop" was $1million, but the "Big Game" is still $10,000.

And, just for fun, I really haven't read all the posts here. But back to your analogy to satellite tournaments, poker players are playing to WIN a spot or make money, Not to "hone their poker skill" as you say about the Combine.

I understand that all poker players, as all serious traders, should use their trading/playing as learning exercises as well, but as hitnrun says, the prize of a shared live account is the reason for paying the money and doing all of this. Simple paper trader can accomplish the same thing, or similar, without the monthly fee. But, the fee is paid in hopes of getting some backing.

And, yes, who knows, if I had 100 people willing to pay money to paper trade a demo account, with the winner getting a live account, I might do it too. Seems simple enough after thinking it through, no downside to us.

Not sure about the legalities of it, I may check.

All the best, Mav....

Don
More...

Don, I know I sound like a parrot, but you still are not reading this thread. In the futures world, unlike the equity world, you have to pay exchanges for data. I have used Ninja trader in the past and most brokers will give you free 10 days or maybe a month of data. After that, they will charge you. That is how "futures" work Don. So one, you pay for data. Two, they offer a real time news squawk. Yes, just like the one your charge your traders. Yeah Ben Lichenstein. That is true right, you are not giving that out for free right? OK, that's what I thought. So news and data costs money. I highly doubt you and your brother would comp this for someone wanting to do a sim.

Oh and Don? They give you the fee back in a refund if you make a single dollar in profit. I just want to make sure you understand this. You have posted about 5 times on this thread and so far you are shooting 0 for 5 which is kind of low. :)
 
Quote from Datradr:

Cool trader dude..

if the game is rigged for you to lose and its pointless then why were you a trader? and why are you here now? if its pointless are you just torturing yourself? is this a hobby?

brainwashed lol i have traded for while too... I dont take anyones word...i find out for myself...and from my (and many) peoples experience discipline is HUGE...you dont have to agree that is fine... and not making money trading isnt a big deal.
there is for sure some luck in this game no doubt, especially in the short run.
More...

He is no longer a trader. I believe he stated he got out of the game. He doesn't seem to be taking it well. :)
 
Quote from Datradr:

re: Don Bright

Yes that may be true Don, however, as Mav mentioned what would be the point in going for gold and going balls in just to pass the combine? because you cant do that in real life as you know or you will go broke in a few days or weeks.

Getting funding is the goal --but without the discipline and practice of a real trader the point is lost...Patak seems to have created this to weed out all the people who only try to hit home runs...they are looking for the traders who love many singles...like Pete Rose remember him!! i bet you do.

that might be another reason why many fail or pass then get sent right back to combine because they have no real skill or discipline..and once they go live it shows.
More...

I agree.

I just seriously, honestly, cross my heart, believe that traders change their thinking when trading their own money. They learn better generally, and they learn from their mistakes sooner.

When our new people screw up, I ask that they simply reduce size, rethink their business/trading plans, and put them into a mentoring group or similar. Same type of thing. Just that we use real money.

But, absolutely nothing wrong with what Patak is doing, that I can see. As I said, who knows, might be a no risk way for a Firm to attract traders.

As mentioned before, an old buddy who ran another firm, would offer free backing, get a room full of people to listen to their methods etc., and then give one guy the free ride. About 20 other guys would "qualify" if they put up money. I never liked type of bait and switch. Nothing to do with Patak of course.
 
Quote from CoolTraderDude:

What I'm trying to point out is that you're brainwashed by the industry to think that Mav is correct... You guys don't get it, you really don't.

You repeat the same stuff ad nauseam that doesn't make sense.

If you lose it's because you lack discipline...! On a game that's rigged for you to lose no less...

You think an edge comes from TA or fundamentals...!

You try to do as the winners despite the fact that they had lucky streaks and nothing more...

Big difference between educators, prop firm owners and actual traders.

As an actual trader you have to make your money from trading...!

Let's not kid ourselves... You guys don't do that. Knock a trader who tells it like it is all you want... But you make your money off of us... not the other way around.
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Dude, I traded for the most profitable group at Worldco in NY 10 years ago. At my peak I was clearing 50k a month. I then become a floor trader at the CBOT for Lawrence Bonfitto. I then spent 8 years at VTrader running an options book. Please stop lecturing us on who is and is not a trader on this thread. You are starting to sound like a fucking child now instead of a grown man ready to move on with his life. So now, MOVE ON!
 
The more I read this thread and about Patak, the more I'm convinced that Patak has a perfect method to make money in the markets. Won't share details though, as I will be shoot down.

Patak - you're the genius.
 
DON Bright--- comments

I agree Don, trading with your own money does give you responsibility for your losses and hopefully will teach you not to make the same mistakes over and over again...but most still find that difficult...but maybe that is just the name of the game. This industry is super stressful...even when you are doing well..lol

its really not for everyone that is for sure--but it is great!! or can be

that is funny about that guy you knew...not a bad idea but very misleading.
 
Hey Don, quick question for you. Since you and I both use to trade on the options floor back in the day. When your brother brought you down to the floor for the first time, did you clerk for him? Did you know your synthetics? Did you know when to exercise your ITM puts? What about how to exercise calls when stocks go ex-div? Did you trade "your" money your first day down on the floor? Just curious.
 
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