Patak, math and opportunity....

I would like to signal out that you will not be trading a $30 k, $50 k or what ever account.

If you begin to lose more than you earned, the plug will be yanked on you. This is clearly stated on that website.

You are trading a $1 k to $15 k account at the most.

I would also add that the real traders such as myself and atticus do not chime in on these Patak threads anymore because it is not much fun and is a waste of time. All of the material you need to know about this outfit is located in the numerous other large threads created in the last 3 months. Mav seems to be a nice guy, but he posts allot about dumb things (such as how to get a job at an unknown prop place, not an investment bank) and also makes IMO cheap salesman type posts. He probably trades and is a good guy so I do not have any bad feelings about them. Just beware of what you get into........I would tell every new trader to steer clear of the TST outfit, but this does not mean it is a bad place or that you should not join in on the TST. If you join, be aware that you will be just like you are trading a $1 k account because you will have the plug pulled on you if you blow up, -and-that you will be employed.

Good luck with your new career. :) Mike
 
Quote from colonial dr:

I would like to signal out that you will not be trading a $30 k, $50 k or what ever account.

If you begin to lose more than you earned, the plug will be yanked on you. This is clearly stated on that website.

You are trading a $1 k to $15 k account at the most.

I would also add that the real traders such as myself and atticus do not chime in on these Patak threads anymore because it is not much fun and is a waste of time. All of the material you need to know about this outfit is located in the numerous other large threads created in the last 3 months. Mav seems to be a nice guy, but he posts allot about dumb things (such as how to get a job at an unknown prop place, not an investment bank) and also makes IMO cheap salesman type posts. He probably trades and is a good guy so I do not have any bad feelings about them. Just beware of what you get into........I would tell every new trader to steer clear of the TST outfit, but this does not mean it is a bad place or that you should not join in on the TST. If you join, be aware that you will be just like you are trading a $1 k account because you will have the plug pulled on you if you blow up, -and-that you will be employed.

Good luck with your new career. :) Mike
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Dude, you are a known troll. Even the owners of this site called you a troll. Atty knows you are a troll as well. For the record, I quizzed this colonel guy on some basics futures 101 and he couldn't even give me the values of various tick and handle values. LOL. Where did you say your son worked again? Your knowledge of trading is about as poor as anyone on this site. Can you please troll on other threads. When someone starts a genuine thread asking for "real" advice, this is not where you belong. You belong in chit chat where you can play your pretend games down there. Leave these threads for the grownups. Thanks kid.
 
Quote from Maverick74:

Dude, you are a known troll. Even the owners of this site called you a troll. Atty knows you are a troll as well. For the record, I quizzed this colonel guy on some basics futures 101 and he couldn't even give me the values of various tick and handle values. LOL. Where did you say your son worked again? Your knowledge of trading is about as poor as anyone on this site. Can you please troll on other threads. When someone starts a genuine thread asking for "real" advice, this is not where you belong. You belong in chit chat where you can play your pretend games down there. Leave these threads for the grownups. Thanks kid.
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No I am not trolling, my post is very good advice. I joked that I should get an ET award for restarting the old Patak thread, bcecause lots of people were mad about Patak (and people like you getting mad at those people). Michael Patak can stick it if he thinks I'm a troll, I'm WAY richer than him and I have never started a loser prop shop before. He is probably as awkward as you are (have you read your own words before?), and also was probably rejected from every bank like you (nothing wrong with that, I do not work at a bank too). If you are in New York or Miami, I'll invite you to my home/penthouse sometime, mav. :cool:

That's my opinion, everyone is entitled to their own opinions and thoughts about things. I'm heading out of this thread, any body can private message me though. Mike :)

ps English is not my first language, so I know I have grammar errors.
 
Quote from colonial dr:

No I am not trolling, my post is very good advice. I joked that I should get an ET award for restarting the old Patak thread, bcecause lots of people were mad about Patak (and people like you getting mad at those people). Michael Patak can stick it if he thinks I'm a troll, I'm WAY richer than him and I have never started a loser prop shop before. He is probably as awkward as you are (have you read your own words before?), and also was probably rejected from every bank like you (nothing wrong with that, I do not work at a bank too). If you are in New York or Miami, I'll invite you to my home/penthouse sometime, mav. :cool:

That's my opinion, everyone is entitled to their own opinions and thoughts about things. I'm heading out of this thread, any body can private message me though. Mike :)

ps English is not my first language, so I know I have grammar errors.
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No shit English is not your first language. I doubt it's your 3rd. Nobody with more then $18 in their checking account uses phrases like "I'm WAY richer then him". Come on dude, you're 19, admit it. I think the ruse is funny if not a little disturbing from a psychological standpoint. Also, nobody on ET talks about banks as much as you. You mention them all the time. Kids talk about banks and working for banks. And nobody gets "rejected" by banks. What is this, American Idol? LOL.

The owners of this site allow trolling to a certain extent because some trollers are actually funny and are a value ad on the entertainment front. The problem is, your trolling is not funny or original.

Anyway, good luck with your homework.
 
Here's what I have set up so far. Running numbers with contracts is much more complex than by just basic share size! This calculator allows me to plug is the basic numbers and it spits out the number of contracts I can purchase and still be within my risk tolerance as well as things like targets, actual and profit/loss. So far it seems to work well. Let me know if you spot something incorrect as I admittedly do not know much about trading in contracts. Building this sure has cleared up a lot though. I am going to build one more addition to it in order to account for scaling up. After that I think I will begin trying to learn the physical executions on the T4.

What'da ya think so far?

Thanks,
J.

 
Ok I can't figure out what you are planning to trade here, from your price it looks like the 30 year? Well I don't know but what I do know is that you must adjust your commissions to $5 per contract per trade. And I don't know which contract has a tick value of $25 so if you could please just enlighten me on that.
 
Quote from iankotze:

Ok I can't figure out what you are planning to trade here, from your price it looks like the 30 year? Well I don't know but what I do know is that you must adjust your commissions to $5 per contract per trade. And I don't know which contract has a tick value of $25 so if you could please just enlighten me on that.
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Not trading anything yet. The numbers I used in the example are just generic. I am more concerned with the math coming out correctly at this time so generic values work for that purpose. I did however plug in numbers more in line with your questions in order to show a better example as you suggest. I used a tick price of $12.50. Again, generic but I see where a few markets use this price value. I also increased the commission price to $2.50...the way the calculator works that is $5 per RT.

Even better at the new tick price..... (keep in mind this is just the rough copy...there may be an undiscovered error, but I think I have it correct)

 
Well I think you are approaching this thing from a fantasy perspective. In reality this will be much harder than you think.

First, it is easy to punch in some numbers in your calculator and work out favorable results. You are failing to see the problem with these generic numbers and that is that you will have to make it happen in a live and kicking market.

The products that trade at 12.5 dollar a tick will get you stopped out more often than not with your 5 tick stop loss. This is unless you are running a serious scalping system. But trust me if you want to do serious scalping TST is not the place to do it with those big commissions.

Every market has its own character and you need to get to know which market will work for you. What kind of system will you use, trend or range. Markets are all different in small ways but when trading futures you will come to know that these small differences are huge because you must be way more precise in your entry that you would have to trading stocks.

If you want to do the 1 trade a day with 5 ticks risk and 10 ticks profit I suggest you look at the 10 or 30 year bonds, even the ultra bond will most likely knock you out most of the time.

Hope that helps
 
Quote from iankotze:

Ok I can't figure out what you are planning to trade here, from your price it looks like the 30 year? Well I don't know but what I do know is that you must adjust your commissions to $5 per contract per trade. And I don't know which contract has a tick value of $25 so if you could please just enlighten me on that.
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Actually, eurodollars have $25 tick values. Just a heads up...
 
Thanks Maverik, I did not know that. Looked at a the dom once but did not see how it could be day traded with TST so never paid attention to it. Good to know though.
 
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