It matters because it contradicts 100% of what you said. You said that they throw you back to the combine if you are up 10k and give back 1k. That is 100% false. Now you are reverting back to "I don't care what you say the program sucks" attack. LOL. Dude move on. You don't like it. That's fine. But when you say something that is FACTUALLY incorrect, I'm going to correct it. You are entitled to your own opinions, you are not entitled to your own facts.
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TopstepTrader and Patak Trading Partners- Any and all questions answered here
- Thread starter MichaelPatak
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It matters because it contradicts 100% of what you said. You said that they throw you back to the combine if you are up 10k and give back 1k. That is 100% false. Now you are reverting back to "I don't care what you say the program sucks" attack. LOL. Dude move on. You don't like it. That's fine. But when you say something that is FACTUALLY incorrect, I'm going to correct it. You are entitled to your own opinions, you are not entitled to your own facts.
Quote from Maverick74:
It's all good and well to tell guys to build up equity and eat their vegetables but the reality is, these guys are more then likely to give it back.
And has even have stated this is mostly what happens on those who go live so why do they want to force you to always have 5000 min of your own profit in the account if they are truly willing to absorb trading losses ?
Quote from Maverick74:
I don't think there needs to be a cushion. If any of these guys make money, grab it! Pay the trader, pay the investor.
I don't understand how the investor is OK with traders giving back all their profits. Makes no sense to me. The so called cushion is not a cushion. It's a pile of money begging to be taken away through losses.
Well, that's true. If the trader is up 4k and gives it all back since the parameters are removed once they go live, they could have "a pile of money" sent back to the markets.
I'm not sure how their platform works with a live account. With most equity prop firms, risk managers can "auto liquidate" after a max risk is hit, whereby the platform will market you out off all positions. This forces discipline since you won't be able to open new trades or go over your daily risk (notwithstanding some technical glitch or trading halt, of course).
I wrote that lowering the cushion to make it equivalent to the profit objective of the combine as one solution for those who passed the 10-day 2500/3500 combines. That would reduce the cushion by up 50% and allow quicker access to a check. Even the 4,000 combine lowers the cushion by 20%.
We both agree that taking a check regardless of the amount of profit makes sense. So what's the compromise, if you had to create one?
Quote from volente_00:
And has even have stated this is mostly what happens on those who go live so why do they want to force you to always have 5000 min of your own profit in the account if they are truly willing to absorb trading losses ?
"mav rolls eyes" Because they are trying to keep guys from going live to combine to live to combine to live to combine. Every time they go live again, their losses are wiped out.
I'm making the argument that if the investor got to lock in some p&l, he would be willing to let the trader have larger drawdowns that would keep the trader from going back and forth so much. Is everything a conspiracy to you?
Quote from Maverick74:
I don't understand how the investor is OK with traders giving back all their profits. Makes no sense to me. The so called cushion is not a cushion. It's a pile of money begging to be taken away through losses.
This will not happen the way the operation is set up
Say you make 5k on the 30k account, at any given time they will only allow you to lose 2 x $500 so if you take a $1000 drawdown you will be sent back to combine and still have 4k in profits.
Quote from volente_00:
This will not happen the way the operation is set up
Say you make 5k on the 30k account, at any given time they will only allow you to lose 2 x $500 so if you take a $1000 drawdown you will be sent back to combine and still have 4k in profits.
We've been over this, that is 100% false. Go back two pages. I posted word for word what they said about this? Are you really this dense. It is stated very clearly, "below the initial balance". I'm sorry, I want to leave this alone but you are really struggling to get the facts straight. Can you not read? I posted their quote word for word. Read it again. Good lord buddy.
Here is the actual quote: "Our traders are allowed to lose twice the amount of their daily loss limit (BELOW the initial balance)."
mav
You are talking about true proprietary trading firms where
the trader is trading 100 % of the firms money from day one
your hired as a employee with no financial risk , no money up
the firm provides the training & support to there traders
when it comes to futures prop firms in chicago & how they work , your the pro
Patak is not a propreitary futures firm . They offer more of a education
& trading model which may be good for some people
They are backing traders to a limited degree until they become profitable or washout
They will give some rope to hang yourself , you have to make money
if someone passes the test & gets a live account & they like the terms of the deal , then go for it
It's a good starting point for some people to learn about futures with limited risk
You are talking about true proprietary trading firms where
the trader is trading 100 % of the firms money from day one
your hired as a employee with no financial risk , no money up
the firm provides the training & support to there traders
when it comes to futures prop firms in chicago & how they work , your the pro
Patak is not a propreitary futures firm . They offer more of a education
& trading model which may be good for some people
They are backing traders to a limited degree until they become profitable or washout
They will give some rope to hang yourself , you have to make money
if someone passes the test & gets a live account & they like the terms of the deal , then go for it
It's a good starting point for some people to learn about futures with limited risk
Quote from Maverick74:
It matters because it contradicts 100% of what you said. You said that they throw you back to the combine if you are up 10k and give back 1k. That is 100% false. Now you are reverting back to "I don't care what you say the program sucks" attack. LOL. Dude move on. You don't like it. That's fine. But when you say something that is FACTUALLY incorrect, I'm going to correct it. You are entitled to your own opinions, you are not entitled to your own facts.
on what size account ?
on 30k the 1k loss back to combine rule is in effect until you make 5k in profit
if you dip below 5k profit does the 1k back to combine rule not go back into effect ?
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