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

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Hi Michael/Mav/CTD/Surf

I've talked with several friends of mine and we are all very interested in enrolling in the combine (When Ninja is available). My question is if traders who trade solely outside RTH are suitable candidates? The instrument of choice would be 6E

I think I have a pretty good system worked out and I've attached a NT s/s outlining my "sim-combine" so far. I know these results are very preliminary, but I would be interested in trading part time if you think this would be viable.

Thanks in advance

JO
 

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Michael, a few more questions:

1. How does the firm handle the fluctuation between available funds and traders? Most of the time I assume there are more funds than funded traders, (so what happens with the extra money?) but there could be a sudden surge in talent and there might be not enough funds ready?

2. It seems odd to me that you guys would give up 10% profitshare in the future for $300 now. I know that fee goes for the psychological training, but if that is so important, why don't you provide that for free, after all, if it helps the trader, it also gives you more profit?
As I see it, your firm would get 5K extra profit from a 50K funded trader who doubles his account in a year (similar to the combine's performance). But you rather have his $300 now (as the fee for the extra training) and give up 5K. That seems shortsigthed, unless you know (by experience) that the trader won't make an extra 3K on the account by the end of the year...

3. How do we know, you guys are not backing the trader with MORE money than you state? This would/could be actually very beneficial for your firm and would explain why you are giving up on the 10% profit share so easily. Let's say a trader is comfortable with trading 30K, but not much more. But you could still back him with 300K (without his knowledge) and get 10 times more profits. (assuming the trading instrument is liquid)
I actually find this type of backing psychologically a valid approach, but without disclosure morally/financially questionable. I hope I haven't just given you an excellent idea. :)

4. What if a live trader after 2 months decides to stop trading for you. My understanding is that he is not allowed to trade for anyone else for the next 10 months. Is that correct and does it include himself??

Thanks for your answers...
 
Quote from Jack_Larkin:

Forgive me if this has already been answered, but:

Say someone gets funded on a lower level combine (30k or 50k)..

How would they move up to 100k+ or the custom funding levels?
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I`m interested in this question as well.

Will the trader who completes a 50K Combine be granted access to more capital if he continues being successful or does he need to trade his way up to 150K?
 
Quote from marketsurfer:

pay no mind to these bizarroland questions from Pekelo posts. They make no sense and are simply designed to cause problems.
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He couldn't afford a Combine on his pizza delivery tips anyway.
 
Quote from londonkid:

wow not sure what to say. if an outfit is doing 10,000+ ES per month then you can get an all in RT for 85c by leasing a seat.

exchange fees 27.5c per side. (lease a seat qualify for 23.5c exchange discount on 10,000 pm volume)

commission 15c per side (pretty easy to find a broker to do this)

TOTAL = 42.5c per side

ALL IN RT cost = 85c

you can lease a seat for $300 pm.

http://www.cmegroup.com/company/membership/membership-pricing-cme-lease-prices.html

use a platform with nil RT cost.
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Michael Patak,


Why you do not use this to reduce commissions ?
 
Quote from Peternam:

Michael Patak,


Why you do not use this to reduce commissions ?
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We do not do those volume numbers as a firm nor do we encourage our traders to trade more for a discount. Trading MORE is not something that we believe is good for a trader, therefore we tell them to be patient and trade less.

If and when we get to those numbers we will pass that reduced rate along but until then this is where we are at.

As for commissions this is what we have worked out with our clearing firm, $1.25 per contract per side. We do not compete with the discount brokerage as we are not a brokerage house trying to solicit customers.

mp
 
A quick suggestion to those asking questions:

TST has a "Drill A Scout" session in one of their chats. I was in it the other day. You can ask whatever question you want relating to TST and the combines. They seem to answer each one, and yes, even the "tough" questions.

This way you can get your questions answered in real time, just an fyi.
 
Quote from marketsurfer:

pay no mind to these bizarroland questions
More...

I knew you had no journalistic integrity, now you lost your curiosity too? :)

By the way, I didn't ask you, so just enjoy the high life....
 
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