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

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Quote from londonkid:

Hi Michael

Can you confirm that the all in round turn (RT) cost for ES is $5?

I would love to do a combine and get funding however I only make 0.5 of a tick per trade so the maximum RT costs I can have are 0.2 of a tick ideally 0.15 of a tick or less.

Also do you allow traders who trade the eurostoxx50(FESX) contract? I currently pay around 0.14ticks RT all in. Sometime my expectancy can drop to 0.3 of a tick intraday hence I need RT costs of sub 0.15tick.

of course I could change my trading style but I dont want so change my 'flow'

thanks and good luck with TST, great concept, fair pricing imo.
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londonkid- We do not have Eurex data feed as we have not come to an agreement with them on providing this for SIM. We hope to have this feed by the end of the year but I can not promise anything right now. Exchanges do not like giving away SIM feed as they receive no revenue from it.

mp
 
Quote from atticus:

Thanks. I searched but used first for last name on BASIC, mea culpa. One last question, and I wouldn't ask but it's not mentioned on the site, but are the production accounts segregated?
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Live accounts are sub-accounts much like any strictly proprietary trading firm.

mp
 
Since I'm new to the site, I have a question about its personality or history. Does every vendor get raked over the coals like TopStep Trading? For example, back when Ken Roberts and Jake Bernstein were selling their snake oil or Richard Dennis' former Turtles were selling several-thousand-dollar-a-weekend trading boot camps, did some members go on and on and on about how it was all a scam/rip-off/waste of money?

I had never heard of TST before joining this site (I'm a position trader of futures and futures options so they wouldn't be on my radar) and out of curiosity I read a couple of the threads. Conclusion: I don't get what all the vitriol is about.

Unless I'm missing something, we're talking about a whopping $190 for access to real time, decent trading tools for a month, and some coaching, education and reporting that could be useful if the combine member chooses to take advantage of it. That's peanuts, even if you don't get funded.

Now, if people were questioning the merits of an unaudited $500/mo indicator service or a $6000 weekend boot camp (they're still out there), I'd probably join you, but again, this is $190 we're talking about.

If I need to brush up my spreadsheet skills, it's going to cost me $190 to attend a one or two-day seminar at a community college, surrounded by 20 corporate drones. If I want to buy a few trading books, or a single CRB Commodity Yearbook, I'm going to spend $190.

Color me puzzled...

P.S. I've noticed a few comments along the lines of 'this thread has already reached 35 pages, 70 pages, etc.' I learned that the site's default setting is only five posts per page, so if you get tired of clicking, scrolling and paging-down, go to YOUR ACCOUNT > EDIT OPTIONS and you can view up to 40 posts on the same page.
 
Quote from atticus:

How many prop jobs can you handle at one time? Baller! You must be swinging 500s at a clip with a 6.25 expectancy per car.
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Hey Troller

once again showing poor judgement jumping to wrong conclusions. I trade in and out 40 times per day, that's c. 800 trades a month. I only trade a 5 lot but at 0.5 ticks per RT and 0.144 RT costs that adds up nicely. It's perfectly possible to make a good living averaging 0.3 ticks per trade, even seen some do 0.1 tick but then they have tiny RT costs with max volume rebate through a prop.

and FYI I currently dont trade through any props, just a couple of futures accounts and some spread bet play accounts.

but you just keep on trolling dude.
 
Quote from MichaelPatak:

londonkid- We do not have Eurex data feed as we have not come to an agreement with them on providing this for SIM. We hope to have this feed by the end of the year but I can not promise anything right now. Exchanges do not like giving away SIM feed as they receive no revenue from it.

mp
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Hi Michael

I understand. Could you please clarify that the round turn (RT) cost is $5 per trade on the ES as that is the nearest instrument to the FESX for me.

Thanks

london
 
Quote from londonkid:

Hey Troller

once again showing poor judgement jumping to wrong conclusions. I trade in and out 40 times per day, that's c. 800 trades a month. I only trade a 5 lot but at 0.5 ticks per RT and 0.144 RT costs that adds up nicely. It's perfectly possible to make a good living averaging 0.3 ticks per trade, even seen some do 0.1 tick but then they have tiny RT costs with max volume rebate through a prop.

and FYI I currently dont trade through any props, just a couple of futures accounts and some spread bet play accounts.

but you just keep on trolling dude.
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$12,500 per month gross of comms and you need to be staked at a 70/30 split on a $50k sub-account?
 
Quote from baggerlord:

Check out this thread if you want to see just how bad it is here.

http://www.elitetrader.com/vb/showthread.php?threadid=212110
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That's quite a list. I thought I was skeptical and frugal, but now I realize I'm just a Pollyanna. :p

A final point about the TST offering: It's not for me, but hypothetically if I signed up, passed the combine and was presented with a funding contract, I'd be all over the NFA BASIC site, PACER (for court filings and case histories), and I'd get all my legal and tax questions answered before signing on the bottom line. Some of the discussion here is about those important things, but it gets buried by "Is brand X trading platform, the in-house squawk radio and the training/coaching/education really worth $190 for one month?"
 
Quote from Brighton:

That's quite a list. I thought I was skeptical and frugal, but now I realize I'm just a Pollyanna. :p

A final point about the TST offering: It's not for me, but hypothetically if I signed up, passed the combine and was presented with a funding contract, I'd be all over the NFA BASIC site, PACER (for court filings and case histories), and I'd get all my legal and tax questions answered before signing on the bottom line. Some of the discussion here is about those important things, but it gets buried by "Is brand X trading platform, the in-house squawk radio and the training/coaching/education really worth $190 for one month?"
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You would not be under NFA scrutiny.
 
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