The bitter truth about Patak Trading
- Thread starter gmst
- Start date
You missed the earlier post. Someone asked how that letter could be accessed when there is no link on the website. The response was google it, and someone said nothing came up. I simply showed how to do the search.
I didn't read the letter as I have no interest in prop trading where people tell me what I can and can't do. Footlick? I better go back and read that letter.
Fun informative thread.
I see that the only way to resolve the cynicism is to have Patak traders who have succeeded chime in and prove everything is legit.
Even if you lose just pocket change from the combines, you, the trader, could still get screwed hard later on down the line when you are dealing with hundreds of thousands of dollars.
The whole scheme is designed to protect Patak. But where is the trader protection?
I see that the only way to resolve the cynicism is to have Patak traders who have succeeded chime in and prove everything is legit.
Even if you lose just pocket change from the combines, you, the trader, could still get screwed hard later on down the line when you are dealing with hundreds of thousands of dollars.
The whole scheme is designed to protect Patak. But where is the trader protection?
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 bar none the worst futures contract ever to trade and if you want to increase the failure rate at TST or anywhere, make them trade the ES. Luckily most guys are trading oil, which is what they should be trading. You can make a lot of money flipping 5 to 15 lot positions in crude. Hell, you can make a lot of money trading one lots in crude. Anyway, off topic I know, I just wanted to put this out there. I apologize in advance.
Quote from justrading:
You missed the earlier post. Someone asked how that letter could be accessed when there is no link on the website. The response was google it, and someone said nothing came up. I simply showed how to do the search.
I didn't read the letter as I have no interest in prop trading where people tell me what I can and can't do. Footlick? I better go back and read that letter.
I also don't like the tight leash. It's like dealing with a micromanager breathing down my neck monitoring every single trade and criticing them. I call this trading under duress bullshit.
It's like bush league management.
But I could understand. If you get bush league players, I guess you gotta bush league manage.
I just wish trading firms would tag themselves with bush league badges so that prospective traders know what they are getting themselves into.
Yes you are not given a 150k account. You are given an account to trade intraday only max of 15 contracts with $3000 loss limit before you get booted back to the combine. 15 contracts x $500 intraday margin is a $7500 account.
Just out of curiosity how do you know what the hundreds of recruits are currently 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.