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TopstepTrader and Patak Trading Partners- Any and all questions answered here
- Thread starter MichaelPatak
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hi mav74
thanks,
yes , no easy answer , my guess is most prefer to trade stocks then other instruments
futures are tougher to trade for most people , a different beast
Not a matter how much money but overall consistently profitable
day trading stocks is the favorite & most gravitate to over the years
thanks,
yes , no easy answer , my guess is most prefer to trade stocks then other instruments
futures are tougher to trade for most people , a different beast
Not a matter how much money but overall consistently profitable
day trading stocks is the favorite & most gravitate to over the years
OK people⦠Had some good laughs while reading this threadâ¦
All I have to say is that gmst is both a gentleman and a scholar!
Letâs pretend that McDonalds charged their recruits $150 to practice making burgers with plastic toys until they become an expert burger maker. Now after that they get paid a commission based on how many burgers they made, would you do it?
Because what Patak is doing is even worse! In fact, I can absolutely guarantee that you would make more money at McDonalds under this model over your career than you would at Patak under their model!
Gmst you donât even need to bother with the mathâ¦
SIMPLE RULES FOR SCAM DETECTION:
1. If you have to pay to go to work, itâs a scam!
2. If it uses creepy terms like combine, commune or training lab itâs a scam.
3. If youâre a âbusiness partnerâ and you donât get to make any of the rules, itâs a scam!
4. If youâre an employee but had to put up cash to work there, itâs a scam.
5. If you put up all the cash but have to share the profits, itâs a scam!
The list could go onâ¦!
All I have to say is that gmst is both a gentleman and a scholar!
Letâs pretend that McDonalds charged their recruits $150 to practice making burgers with plastic toys until they become an expert burger maker. Now after that they get paid a commission based on how many burgers they made, would you do it?
Because what Patak is doing is even worse! In fact, I can absolutely guarantee that you would make more money at McDonalds under this model over your career than you would at Patak under their model!
Gmst you donât even need to bother with the mathâ¦
SIMPLE RULES FOR SCAM DETECTION:
1. If you have to pay to go to work, itâs a scam!
2. If it uses creepy terms like combine, commune or training lab itâs a scam.
3. If youâre a âbusiness partnerâ and you donât get to make any of the rules, itâs a scam!
4. If youâre an employee but had to put up cash to work there, itâs a scam.
5. If you put up all the cash but have to share the profits, itâs a scam!
The list could go onâ¦!
I asked this before, but question was lost in hundreds of others. I hope someone from Patak can answer this:
Will you fund a trader who is profitable in last 5 years, but not profitable last year (and last month)?
Will you fund a trader who is profitable in last 5 years, but not profitable last year (and last month)?
Quote from luckyputanski:
I asked this before, but question was lost in hundreds of others. I hope someone from Patak can answer this:
Will you fund a trader who is profitable in last 5 years, but not profitable last year (and last month)?
I wouldn't. I think daytrading is very different from swing trading and longer term trading in that it's very environment dependent. It's all about the "now". The fact that you killed it back in 2008 tells me nothing of your ability to make money in this shitty low vol tape. I've seen this first hand at the various prop firms I've been with. You really need to see guys perform in this tape before you back them.
I think longer term trading this is much less a factor unless someone has a specific quantitative edge that has gone away. We kind of discussed this earlier in the thread the pros and cons of that.
Quote from CoolTraderDude:
OK people⦠Had some good laughs while reading this threadâ¦
All I have to say is that gmst is both a gentleman and a scholar!
Letâs pretend that McDonalds charged their recruits $150 to practice making burgers with plastic toys until they become an expert burger maker. Now after that they get paid a commission based on how many burgers they made, would you do it?
Because what Patak is doing is even worse! In fact, I can absolutely guarantee that you would make more money at McDonalds under this model over your career than you would at Patak under their model!
Gmst you donât even need to bother with the mathâ¦
SIMPLE RULES FOR SCAM DETECTION:
1. If you have to pay to go to work, itâs a scam!
2. If it uses creepy terms like combine, commune or training lab itâs a scam.
3. If youâre a âbusiness partnerâ and you donât get to make any of the rules, itâs a scam!
4. If youâre an employee but had to put up cash to work there, itâs a scam.
5. If you put up all the cash but have to share the profits, itâs a scam!
The list could go onâ¦!
This analysis is absurd as you basically just said every prop firm out there is a scam. Your post was pure nonsense.
Thank you for your answer, but I really would like to hear "yes" or "no" from Patak.Quote from Maverick74:
I wouldn't. I think daytrading is very different from swing trading and longer term trading in that it's very environment dependent. It's all about the "now". The fact that you killed it back in 2008 tells me nothing of your ability to make money in this shitty low vol tape. I've seen this first hand at the various prop firms I've been with. You really need to see guys perform in this tape before you back them.
I think longer term trading this is much less a factor unless someone has a specific quantitative edge that has gone away. We kind of discussed this earlier in the thread the pros and cons of that.
Quote from luckyputanski:
Thank you for your answer, but I really would like to hear "yes" or "no" from Patak.
This question has already been answered. They make everyone go through the combine and do not look at resumes at all, so no they wouldn't take someone who had 5 years of profit and than a year of losses. Again if one is already consistently profitable for years, why would you need TsT?
Quote from CoolTraderDude:
The list could go onâ¦!
You don`t understand what you`re talking about like most others in this thread.
What most of you are discussing is your perception or opinion about their business model, since you have not checked the facts before launching your attacks and criticism.
For 20 pages it was an outrage because of the unrealistic profit objective that needed to be met after going live. This was flat out wrong from the start, so there was really nothing to discuss in the first place.
Then there were long discussions about the trailing stop rule applied to OPEN profits, elaborate mathematical examples, etc, which again was flat out wrong since the rule only applies to REALIZED profits.
Disagree with the business model if you want to, but at least understand what it is that you are discussing and disagreeing with.
I have to say that I`m questioning the intelligence and cognitive abilities of more than one poster after reading this thread.
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