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

Status
Not open for further replies.
Volente you should also start a combine. I know you make a good coin from your trading. But extra income doesn't hurt. Bring a great product to the market. People who are looking to get an entry into futures world but can't get into Infinium, Jump etc. will benefit.
 
Quote from ScalperJoe:

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.

Joe, you don't have to sign up for any of that garbage. Over 99% of the people just pay for the combine. Look, the reason they have to call it an education company is the same reason why financial newsletters always have the disclaimer that the information within is for entertainment purposes only. It's a legal disclaimer.

I saw the TST site when they first went live. They didn't have any courses until recently. It was all combines all the time. Look dude, you're a nice guy and I don't want to argue with you. I'm actually getting a migraine from the back and forth on this thread. Have a great labor day weekend.
 
Quote from volente_00:

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

Yes it would be harder but I agree with you it would be much longer and the the profit goals would be de-ephmasized but the risk management would be heavily scrutinized. I actually have an idea in my head how it would look. Maybe tomorrow I'll put it down on paper. Why? I have no idea why I'm going through this exercise. LOL..
 
Quote from gmst:



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.

I'll find out what I can. But keep in mind, firms don't like to share this info. In fact, they don't like to share any info. I know their energy desk is hugely profitable and they do a lot of trading over the counter. I'll politely ask some questions.
 
Also, for those of you that wanted Michael to answer questions. You might want to start a new thread. This one has gotten kind of messy and I doubt he is going to read through this entire novel. I would wait to start the new thread till late late late Monday night. LOL. If you start it now it will get to 40 pages by Tuesday morning. It's really funny, they say all publicity is good publicity. A lot of the detractors have given this guy more free press then he could ever pay for. Basically every post has unique words that will show up in the google search engines now for his firm. I bet he is quietly smiling on his way to the bank. LOL.
 
Quote from Maverick74:

Joe, you don't have to sign up for any of that garbage. Over 99% of the people just pay for the combine. Look, the reason they have to call it an education company is the same reason why financial newsletters always have the disclaimer that the information within is for entertainment purposes only. It's a legal disclaimer.

I saw the TST site when they first went live. They didn't have any courses until recently. It was all combines all the time. Look dude, you're a nice guy and I don't want to argue with you. I'm actually getting a migraine from the back and forth on this thread. Have a great labor day weekend.

It was also free back then, then $30, then $60, now $160-400. The rules were also more relaxed.
 
Quote from Maverick74:

Yes it would be harder but I agree with you it would be much longer and the the profit goals would be de-ephmasized but the risk management would be heavily scrutinized. I actually have an idea in my head how it would look. Maybe tomorrow I'll put it down on paper. Why? I have no idea why I'm going through this exercise. LOL..

Because me and you are going to partner up in the future on it


:)
 
I only have one question: When are you going to get rid of the T4 platform? It's impossible to scale properly on the T4 because you can't build a template. It is very slow to adjust targets and stops. I understand that you might be offering the Ninja platform soon. On Ninja, you can build multiple templates to execute trades under different market conditions with one click.
I would like to run my strategy again on TopStep when you have a better platform. Thanks.
 
Quote from volente_00:

It was also free back then, then $30, then $60, now $160-400. The rules were also more relaxed.

No it was harder. You had to make twice as much money. And they had this really gay rule where however many contracts you traded the first day, you had to trade the same amount + or- 5 the rest of the combine. Also, to get the free refund you still had to make 50% of the total profit goal. Now you just need to make a single dollar in profit. It's waaaaaaaay easier now. You can even customize the rules to get rid of the ones you don't like.

And the only reason it didn't cost $350 is because they only offered the 50k combine. Man if you guys had seen the site back then ET's network servers would be crashing right now from the 10k page long thread this would be. :)
 
Quote from gmst:

Just trying to model the business model using 'reasonable' assumptions.

When I said success rate increases to 10%, this increase in success rate applies conditionally only to combiners who made it the first time. For the guys who could never make it the first time, the success probability stays at 1%, as it should - since we know that the long term unconditional probability of passing combines among all traders is around 1-2%.

However, the traders who are successful in their first attempt to go live, they are good traders (and not just lucky - at least this is what Patak wants us to believe). So, for these traders with skill, I assumed the conditional probability of success after every successful move into live trading increases by 10%. Cheers.

Okay. This makes it clear.

The 1% initial success rate is so low that Patak does not lose much when they absorb the traders' losses.
 
Status
Not open for further replies.
Back
Top