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

[gmst]

Quote from marketsurfer:

I know Mav personally, he is far from a failure. He doesn't get paid to post LOL, but rather is a well connected guy who likes helping others. surf

So, why is he not making sense in this thread then? It clearly looks like he is acting as a shill for Patak.

He is telling newbies to go sign with this Patak, where they have 27 live traders after 2.5 yrs of operation. And they don't make money. Patak disclosed that they dont have even 12 traders who cleared 30k. When I asked him to disclose exact number, he didn't disclose it. Volente asked him to disclose how much his largest producer made in 2011 and 2012, he didn't disclose and said they are a young company so no one is making money.

WTF does maverick wants to send newbies to this company, where noone makes any money, if he is not hand in gloves with Patak? Surf - you should really answer the question I raised in the last line.

 

[Maverick74]

Quote from volente_00:

Not going to happen, if the guy get's failed from live trading, he will be doing good just to pass the combine again because his live performance proved his combine performance was an outlier. Not to mention his ego will be crushed and he will be mindfU%*ked from then on. Once again the numbers don't lie, 27 live traders from 30 months of combines of 180 -500 participants each and none are producing more than 30k annual. Even using the low number of 180 participants x 30 months gives you all you need to know. 27 live traders out of a minimum of 5400 paid combiners. This alone proves that even if you go live you will have a minimum 99% chance of failing at live trading and sent back to combine where you will eventually burn out or quit.

No, see that is my point. They have zero incentive to quit because they no longer have to pay for the combine. Are you going to look me in the eye and tell me after you already passed the combine once and went live and took a hit, that you are going to roll over and just quit? Are you that weak? Look, if guys have that little fortitude then they should not be trading. But it's free from then on out to keep trying. Shit man, If I was working a day job at Denny's I would still keep trying if it was free. I mean why not? Why would you not try? The pressure at that point is gone. You don't even have any skin in the game at that point.

At my old firm I watched guys blow out in spectacular fashion. I'm not talking about 5k or 10k but rather 50k and 100k. And they did not quit!!! They kept coming back, they kept trying. I'm not saying they should. They most definitely should walk away, but rarely and I mean rarely do they. Look at ET. Look at how many guys started a journal and went bust only to start 15 more journals. Persistence!!!

 

[Maverick74]

Quote from gmst:

What a great marketing pitch directed at newbies, disguised as if you are writing to me. But your aim is write in a way such that newbies can read and think oh yes 1/10th of a percent - thats not hard. LOL Everyone knows newbies in this business are overconfident, and your writing just caters to that overconfidence.

You yourself said earlier in this thread that you think less than 1% of traders go from combine to live in their first attempt. For failed live traders doing combines, I gave them an odd of 10% to move to live again- which is 10 times the odds you gave at 1%. Stop cheating newbies, Maverick. You have become an ET joke! The famous ET tout! LOL!!

Unfortunate reality is - Its a losing proposition to engage a tout like you in any conversation. Since for every post that you write here, you get paid. But every post that I write here, I am paying with my time.

And finally, you are a failure in life - thats why you have to engage as a tout to Patak. I pity you. LOL.

If this combine is not that hard, WTF are there no traders making money at Patak?????????????

You can't do it!!!! No dude, it's all clear now. We're good. I'll leave you alone. I should have known that after you blew out your FX journal on here. Alright man, have a good night. We're cool.

 

[marketsurfer]

Quote from gmst:

So, why is he not making sense in this thread then? It clearly looks like he is acting as a shill for Patak.

He is telling newbies to go sign with this Patak, where they have 27 live traders after 2.5 yrs of operation. And they don't make money. Patak disclosed that they dont have even 12 traders who cleared 30k. When I asked him to disclose exact number, he didn't disclose it. Volente asked him to disclose how much his largest producer made in 2011 and 2012, he didn't disclose and said they are a young company so no one is making money.

WTF does maverick wants to send newbies to this company, where noone makes any money, if he is not hand in gloves with Patak? Surf - you should really answer the question I raised in the last line.

I know nothing about Patak but it seems legit to me on the surface. Where else can anyone get a chance with such low $$? Yeah, they may have no profitable traders, looks like a startup but someone may be able to make it. Seems ridiculous not to try...

I don't think Mav is promoting Patak ( makes me think of the watch phillipe) lol. But rather advising he thinks it's a legit opportunity for some situations.

 

[gmst]

Quote from marketsurfer:

I know nothing about Patak but it seems legit to me on the surface. Where else can anyone get a chance with such low $$? Yeah, they may have no profitable traders, looks like a startup but someone may be able to make it. Seems ridiculous not to try...

Please go and read first 4 posts I made in the "bitter reality of Patak Trading" thread. And if you have the inclination, please read this whole thread and the bitter reality whole thread. Everything will become clear. FYI, I have received PMs from many many people on ET over the last 5-7 days, who don't want to come and fight it out on the thread here - that they have changed their opinion of Maverick completely after his participation in this thread. Even a moderator said that. You really outta read the complete thread.

 

[Maverick74]

Quote from volente_00:


Since you are in the business

How many retail futures traders do you know who make it past

1 year?


5 years?


10 years ?

Good question and a fair one. You are right, the failure rate for futures is high but let me tell you why I believe it's high. Living in Chicago and being very good friends with many of the big and small FCM's in this town, I would say most guys fail due to not being adequately capitalized. A buddy of mine who ran a small shop had about 100 accounts at his place and the avg account size was 10k. Yes 10k!!!!!! To trade futures! That's insane. Futures attract the wrong type of trader. They start feeling the heat and the fact they don't have the proper account size and the market chews them up fast. Now, on the flip side, the guys I know who are capitalized fare much better. The success rate for them is not high by any means, it's still pretty bad, but they have a fighting chance. TST is giving guys the chance to trade futures without worrying about being undercapitalized. It helps. It's not the grail, but it helps. Look futures themselves are no harder the stocks. GLD is no different then Gold futures. USO is no different then CL. SPY and ES and so on. It's the leverage that hurts guys, not the product.

 

[Maverick74]

Quote from gmst:

Please go and read first 4 posts I made in the "bitter reality of Patak Trading" thread. And if you have the inclination, please read this whole thread and the bitter reality whole thread. Everything will become clear. FYI, I have received PMs from many many people on ET over the last 5-7 days, who don't want to come and fight it out on the thread here - that they have changed their opinion of Maverick completely after his participation in this thread. Even a moderator said that. You really outta read the complete thread.

Wow, I might have to take some ambien tonight. I don't know how I'm going to sleep.

 

[gmst]

Quote from Maverick74:

Wow, I might have to take some ambien tonight. I don't know how I'm going to sleep.

Oh, ask me. I will tell you how you will sleep.

You will sleep like a baby, my friend. After all, you earned so many dollars today just writing gibberish and promotion material on ET, and your biggest challenger - me, I am sorry but the fact is I lost so many dollars worth of my time responding to your utter nonsense!

You took the right spread, my friend. As I said, its a losing proposition to challenge a tout. You don't get paid, and he gets paid!! LOL.

 

[Maverick74]

Quote from gmst:

Oh, ask me. I will tell you how you will sleep.

You will sleep like a baby, my friend. After all, you earned so many dollars today just writing gibberish and promotion material on ET, and your biggest challenger - me, I am sorry but the fact is I lost so many dollars worth of my time responding to your utter nonsense!

You took the right spread, my friend. As I said, its a losing proposition to challenge a tout. You don't get paid, and he gets paid!! LOL.

Oh yeah, Michael provides girls for me on the weekend. That was a good line.

 

[gmst]

Quote from Maverick74:

Oh yeah, Michael provides girls for me on the weekend. That was a good line.

Thanks for accepting finally! LOL!

Keep promoting. You are doing a good job!