Patak Trading

[kinggyppo]

Quote from atticus:

lol, it's a lotto trade regardless. I am here for the entertainment value. Perhaps they can catch Ken Griffin as he leaves the office with their combine papers in hand.

 

[SWScapital]

Quote from Maverick74:

Here are the stats of the latest guy who was funded and is going live today.

Thats my friend actually. His profile name is "scotty" over at topsteps site.

 

[Maverick74]

Quote from Don Bright:

Or, oops, Robert Morse, of course. I spoke to him a couple of times on other issues. Must be my medications (no joke this time, my wisdom teeth just yanked out, and am having "complications" sorry Mav.

Hmm, no PM, and no longer a Sponsor I guess. Oh well, I'll call him tomorrow, just to verify my understanding. Or maybe your understanding, or just pop in here.

Did you talk to Rob Don? He can do whatever you need to do in a portfolio margin account.

 

[volente_00]

Quote from Maverick74:

Quote from volente_00:

If you can't trade then sell the dream.








Now I see the cheapest combine is $160 instead of $80 that it was 8 months ago. [/QUOTE

I hear there is no charge to open an IB account. Oh wait...must find capital!

If one lacks the discipline to save up money to fund an account then they probably should not be trading a highly leveraged instrument in the first place.

 

[Don Bright]

Quote from Maverick74:

Did you talk to Rob Don? He can do whatever you need to do in a portfolio margin account.

I spoke to Rob. He agreed that Firms will institute their own Risk Margin as on over-ride to PM as well. HOWEVER, with a $200k minimum, which is fine, we may be able to do some business in the future. He explained how he was compelled, by a trader, to actually write down and institute some additional risk policy. Rob is a good guy IMO.

Don

 

[Maverick74]

Quote from Don Bright:

I spoke to Rob. He agreed that Firms will institute their own Risk Margin as on over-ride to PM as well. HOWEVER, with a $200k minimum, which is fine, we may be able to do some business in the future. He explained how he was compelled, by a trader, to actually write down and institute some additional risk policy. Rob is a good guy IMO.

Don

What exactly are you looking to do Don?

 

[Don Bright]

Quote from Maverick74:

What exactly are you looking to do Don?

When we get a bit closer, I'll chat with you about it on the phone. Just getting info at this point. Nothing firm yet.

Don

 

[Maverick74]

Quote from Don Bright:

When we get a bit closer, I'll chat with you about it on the phone. Just getting info at this point. Nothing firm yet.

Don

Don, if you have any general questions about portfolio margin, let me know. At VTrader we had a good portfolio margin operation with Merrill Institutional.

 

[mistermarket]

Quote from Maverick74:



Any other questions? Fwiw, they currently have over 40 traders they have backed that are "currently" live. All their info is listed on their site and most of their live interviews are posted on youtube.

A key question to ask is how many of their "funded" traders are STILL trading with them.

Great program for beginners...decent community but curious how many people have been trading with them "Live" for longer than 6 months.

Anybody out there willing to say they've traded with them for that long? Seems like they've been getting a new trader a week recently. But how many of their old traders are STILL with them?

 

[Maverick74]

Quote from mistermarket:

A key question to ask is how many of their "funded" traders are STILL trading with them.

Great program for beginners...decent community but curious how many people have been trading with them "Live" for longer than 6 months.

Anybody out there willing to say they've traded with them for that long? Seems like they've been getting a new trader a week recently. But how many of their old traders are STILL with them?

Well, the sad fact is, most traders in general don't stay around too long. I don't see why it would be any different with Patak. A trader might have an edge that goes away or might simply do well in a certain environment and when that environment changes, so does their p&l.

Equity markets have horrific cycles that wipe out equity firms and equity traders, especially when the VIX gets in the teens.

The one saving grace to futures is there is enough variety in the products that if one is smart enough and willing enough to move to a different area, they can pro-long their longevity.

If this helps answer your question, most of the "discretionary" futures traders in Chicago have been cleared out of the business replaced by algo traders and HFT. Most of those guys were profitable at one point, now they are out of the business.

None of this really has to do with Patak specifically, I just don't see how it would be any different there. The downside to trading with them is that you are a remote trader by your self and you are not getting all the support one would get in an office full of traders. Don't under estimate that.