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

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Quote from MichaelPatak:

londonkid- Yes this is correct.

mp
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that is a surprise michael. $5 for a RT on ES geez that is high. it says $1.25 plus exchange fess. The exchange fees for the ES are 19c RT if you are on the top tier rebate volume, I could live with $2 RT's just about but $5 is way over the odds, it is very easy for an outfit to get sub $1 RT's on the ES even creaming of a dollar a RT gives you $2.

this worries me , that is excessive.
 
Forgive me if this has already been answered, but:

Say someone gets funded on a lower level combine (30k or 50k)..

How would they move up to 100k+ or the custom funding levels?



Also, are commission breaks possible in circumstances (volume)?
 
Quote from Maverick74:

Austin, you can customize your combine to remove the avg winner criteria. Whatever your style is, you can change the numbers to fit your style of trading. Yeah, the platform takes a lot of getting use to. Some guys are getting their limbs blown off in the middle east, we just have to get use to a different execution platform. Not the end of the world all things considered.
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think I got it figured out... day late and -$5000 unrealized short <wince>

I didn't know where the "close position" button was, and I kept erring between the T and S buttons for enablement.

Now, after the fact, I got it set for OCO -15 / +100 ticks CL and -12 / +40 ticks ZS. So that eliminates need for fumbling between T and S buttons to figure what's what. Leave it on T and auto-enable stops on fill.

Another quandary I couldn't figure out: resting orders would move as price moved. A stop at 91.50 set would change on its own to 91.52 and then 91.54 without me using any type of trail order. So I'd have to manually cancel and reset while price is flying all around.

Anyways, none of that is Topstep or T4 faults. Purely on me for thinking I had it all down pat. I'm above initial capital, I've got eight days left in this sequence and see how it sifts out. Will look at your instructions on how to reflect full orders.

With -$1,000 max loss on five contracts max size, there is no way to control risk other than scale-in as price advances in favor. It's not like my goal is to hit 5-lots on every trade, only when key situations exist. But the ability to blend orders of 1-short and 2-short as a trade followed by 1-long, 2-long and 2-long as a second trade would be vital.
 
Quote from londonkid:

that is a surprise michael. $5 for a RT on ES geez that is high. it says $1.25 plus exchange fess. The exchange fees for the ES are 19c RT if you are on the top tier rebate volume, I could live with $2 RT's just about but $5 is way over the odds, it is very easy for an outfit to get sub $1 RT's on the ES even creaming of a dollar a RT gives you $2.

this worries me , that is excessive.
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londonkid- Commissions are $1.25 per contract plus exchange fees. Exchange fees are about $1.25 or less if i remember right, so about $2.50 a side or $5 a RT.

This is what I pay when I trade as well.

mp
 
Quote from MichaelPatak:

londonkid- Commissions are $1.25 per contract plus exchange fees. Exchange fees are about $1.25 or less if i remember right, so about $2.50 a side or $5 a RT.

This is what I pay when I trade as well.

mp
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wow not sure what to say. if an outfit is doing 10,000+ ES per month then you can get an all in RT for 85c by leasing a seat.

exchange fees 27.5c per side. (lease a seat qualify for 23.5c exchange discount on 10,000 pm volume)

commission 15c per side (pretty easy to find a broker to do this)

TOTAL = 42.5c per side

ALL IN RT cost = 85c

you can lease a seat for $300 pm.

http://www.cmegroup.com/company/membership/membership-pricing-cme-lease-prices.html

use a platform with nil RT cost.
 
Quote from Jack_Larkin:

Forgive me if this has already been answered, but:

Say someone gets funded on a lower level combine (30k or 50k)..

How would they move up to 100k+ or the custom funding levels?



Also, are commission breaks possible in circumstances (volume)?
More...

Was Mike more interested in butting heads with londonkid than answer questions? :/
 
Quote from Jack_Larkin:

Was Mike more interested in butting heads with londonkid than answer questions? :/
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Jack, I think I can answer this. It's my understanding that once you meet the capital threshold, you can trade as much as you want in terms of size. So there really is no limitation. I think those numbers are 5k and 10k.
 
Thanks.

So that means you're leaving equity with them to build a 15k buffer so you can do as you pleas?

That 15k is a first loss type deal eh?
 
Quote from Jack_Larkin:

Thanks.

So that means you're leaving equity with them to build a 15k buffer so you can do as you pleas?

That 15k is a first loss type deal eh?
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Well, technically only 9k of that 15k is yours. The other 6k is their equity. So you are risking giving back theirs and your equity. This is based on the 60/40 split.
 
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