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TopstepTrader and Patak Trading Partners- Any and all questions answered here
- Thread starter MichaelPatak
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Quote from DT3:
Now all of this makes sense... We have a washed up trader who has blown up account after account and lost 100s more what a combine would cost trying to save the rest of us.
Seriously gmst take the combine risk management/discipline is a hard thing to learn, its probably the holy grail of trading and why many traders fail. I might do it myself and I don't even need the funding, but can use improvement on my discipline/tilt issues. 300-400 bucks and gaining a better perspective of risk is a hell lot better then losing 50k isn't?
or the model is unrealistic for futures trading
Part of successful trading is find the parameters that work for your personality and risk appetite. By have to tight of risk control, one may never be able to become profitable
Quote from ScalperJoe:
You're right though, a private firm does not have the obligation to publish a trader's success rates.
Call me crazy but if a firm is touting their educational abilities to teach others to trade futures, I would think they would want use their success numbers to increase further business.
Quote from SteveNYC:
You are a Wharton guy? MBA or B.A.? I guess it doesn't matter. Lol.
All Wharton guys I have met seem Donald Trumpish to me. Hehehe...
MBA - Don't ask the year please. Never wanted to disclose it here on ET but when I attacked Maverick for complicity with Patak and his blind followers attacked me with amazing insults on the other thread (Mods cleaned the thread lateron), I disclosed it in a moment of insanity. LOL.
Donald Trump - LOL - I am speechless! Curious - why you think so. LOL.
Quote from volente_00:
Call me crazy but if a firm is touting their educational abilities to teach others to trade futures, I would think they would want use their success numbers to increase further business.
They don't. In fact, that is one of their pluses. They are not really an education company even though they offer some shrink service. That's why they call it a combine. Ever play football dude? Do you know what an NFL combine is? Ahh shit never mind. I'm getting tired.
I can't believe this thread is still going. I honestly for the life of me don't even know what we are arguing about anymore. Gmst, you have the longest posts I have ever read on ET. My god man, I can't even read through them all in one sitting. I know you asked me a bunch of questions but honestly, not even sure what they are anymore.
Regarding starting a TST like model. Honestly dude, if I did it, I would make it harder, not easier and charge even more for commissions. You would come on here and start a thread then recommending everyone to do the TST combine vs the Mav Combine.
Seriously, I would not let anyone commit to anything for a measly $200.
I'd have to think about this but my combine would be much longer and more expensive.
Regarding a few questions I seem to remember off the top of my head. There really is no non-compete. The non compete is that you can't go to another prop firm. It does not mean you can't fund your own account and in fact, I bet a lot of guys trade their own accounts along side TST. If you guys actually "could" get a real prop gig I'm sure you would have already done it before going to TST!!!!! Think about it. The one year non-compete is useless.
About the firm I mentioned earlier. I'm actually having dinner with one of their top guys sometime in the next week or two. I'll make a best effort to get what I can out of them. But keep in mind, this is not one of those places you just walk into. They go through 500 to 1000 resumes a year and hire maybe 2 to 4 traders and a lot of programmers. So if you have the University of Chicago on your resume and a solid quant degree with good grades, you have a fighting chance. I doubt they are competing with the TST talent pool.
What else? Seriously remind me. I can't re-read this thread. I've been on ET for 10 years and I have never seen a thread like this before. It's a sign of something, not sure what. Maybe stock up on bottled water or something.
Regarding starting a TST like model. Honestly dude, if I did it, I would make it harder, not easier and charge even more for commissions. You would come on here and start a thread then recommending everyone to do the TST combine vs the Mav Combine.
Seriously, I would not let anyone commit to anything for a measly $200.
I'd have to think about this but my combine would be much longer and more expensive.
Regarding a few questions I seem to remember off the top of my head. There really is no non-compete. The non compete is that you can't go to another prop firm. It does not mean you can't fund your own account and in fact, I bet a lot of guys trade their own accounts along side TST. If you guys actually "could" get a real prop gig I'm sure you would have already done it before going to TST!!!!! Think about it. The one year non-compete is useless.
About the firm I mentioned earlier. I'm actually having dinner with one of their top guys sometime in the next week or two. I'll make a best effort to get what I can out of them. But keep in mind, this is not one of those places you just walk into. They go through 500 to 1000 resumes a year and hire maybe 2 to 4 traders and a lot of programmers. So if you have the University of Chicago on your resume and a solid quant degree with good grades, you have a fighting chance. I doubt they are competing with the TST talent pool.
What else? Seriously remind me. I can't re-read this thread. I've been on ET for 10 years and I have never seen a thread like this before. It's a sign of something, not sure what. Maybe stock up on bottled water or something.
Quote from Maverick74:
They don't. In fact, that is one of their pluses. They are not really an education company even though they offer some shrink service. That's why they call it a combine. Ever play football dude? Do you know what an NFL combine is? Ahh shit never mind. I'm getting tired.
Oh really
you might want to call the owner back and clarify
Quote from MichaelPatak:
TST is a trader education and recruiting firm that feeds its talent to Patak Trading Partners
Quote from Maverick74:
They are not really an education company even though they offer some shrink service.
What? Hmm, let's see what they offer with a paid membership:
1. Futures trading classes on various topics, offered DAILY to members.
2. IDT program: A four day course called the "Intuitive Development for Traders Course" (additional fee of $250)
3. Platform education
4. Video archives
5. Live interactive chat room with daily market commentary
6. A simulated trading account, etc, etc.
I'd say it's an education company, but you're entitled to your opinion.
Quote from Maverick74:
Regarding starting a TST like model. Honestly dude, if I did it, I would make it harder, not easier and charge even more for commissions. You would come on here and start a thread then recommending everyone to do the TST combine vs the Mav Combine.
Hey there,
Absolutely feel free to design the way you deem appropriate. See, this is a fantastic business model. Just find your niche. You have a good name at ET. Leverage it. Give people a good option compared to the shittt that they get now in the market. If you become successful and make a 10 million dollar firm, you will dump all the animosity you might have for me now because I asked all the hard questions. Rather you will thank me for motivating you to start something that will make you a lot of money and will give you a good name in the industry.
Just make a product that is more balanced from newbies point of view. I don't mind if you don't risk a dime, fund the project by taking money from people who fail at combine. But please give a better product to the guys who pass combine. And if you really want to make it serious, give them flexible risk limits. You know what I mean. Good luck.
And if you can please answer the risk limits your 7 figure buddy made trading CL. Please find out the exact limits from him, his DD also, and post info here. I will also learn something.
Peace.
Quote from Maverick74:
Regarding starting a TST like model. Honestly dude, if I did it, I would make it harder, not easier and charge even more for commissions.
Harder ?
I would make it longer say 8 to 12 weeks but with a realistic profit goal.
If you are taking a 40% haircut then why does it matter if they are making 5k a month or only 2 k as long as they are consistently profitable.
Keep in mind 95% will fail your combine so the backing of live traders will not even come directly from your pocket
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