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TopstepTrader and Patak Trading Partners- Any and all questions answered here
- Thread starter MichaelPatak
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After reviewing your Combine performance, the equity partner is prepared to provide you with a funded trading account pending your performance in the Live Trader Preparation. Your account parameters will be identical to that of the funded account. Use this time to get comfortable with the transition.
Account Parameters
Duration: Until you have established profits greater than $1,500 (minimum of 10 trading days required, maximum of 60 calendar days)
Starting Balance: $0
Max Position Size: 5
Loss Limit:
Per day: $1,000
Per calendar week: $1,000
(The Weekly Loss Limit is the maximum amount you may lose at any point in a calendar week (Monday through Friday). The Weekly Loss Limit is factored based on the SUM of the realized total end of day Net P&L in the calendar week.)
Max Drawdown: $2,000(account may not drop below -$2,000)
Product to Trade: E-mini S&P
Trading Hours (in Central Standard Time): (to be discussed on scout call)
Start time:
Stop time:
Objective
Profit Target: $1,500
Adhere to the following requirements: (to be discussed on scout call)
I will not hit my loss limit (per day or per calendar week).
I will not hit my max drawdown.
I will not add to a losing trade.
I will adhere to the agreed upon trading hours.
I will close my position(s) by 3:10 PM CST.
I will not hold a position into the electronic close.
At the start of my day I will trade only _____ lot(s) and will only add to my position or increase my size if my total Net P&L is greater than $500.
I will stop trading for the day if my total Net P&L is greater than $500 and my total Net P&L has pulled back 50% off my high watermark (realized total Net P&L high of the day).
If my total Net P&L is negative for the day, I will stop trading if I experience ___ losing trades in a row.
My largest winning day will be greater than my largest losing day (realized total end of day Net P&L). (Enforced after 10 trading days)
I will have a winning day percentage greater than 40, in the event that I hit 50% of my max drawdown (realized end of day Net P&L).
You may be eligible to revise the above listed requirements on your Scout call.
When you complete the Live Trader Preparation period, you will receive a refund for the Combine deposit you previously placed (if applicable)
Account Parameters
Duration: Until you have established profits greater than $1,500 (minimum of 10 trading days required, maximum of 60 calendar days)
Starting Balance: $0
Max Position Size: 5
Loss Limit:
Per day: $1,000
Per calendar week: $1,000
(The Weekly Loss Limit is the maximum amount you may lose at any point in a calendar week (Monday through Friday). The Weekly Loss Limit is factored based on the SUM of the realized total end of day Net P&L in the calendar week.)
Max Drawdown: $2,000(account may not drop below -$2,000)
Product to Trade: E-mini S&P
Trading Hours (in Central Standard Time): (to be discussed on scout call)
Start time:
Stop time:
Objective
Profit Target: $1,500
Adhere to the following requirements: (to be discussed on scout call)
I will not hit my loss limit (per day or per calendar week).
I will not hit my max drawdown.
I will not add to a losing trade.
I will adhere to the agreed upon trading hours.
I will close my position(s) by 3:10 PM CST.
I will not hold a position into the electronic close.
At the start of my day I will trade only _____ lot(s) and will only add to my position or increase my size if my total Net P&L is greater than $500.
I will stop trading for the day if my total Net P&L is greater than $500 and my total Net P&L has pulled back 50% off my high watermark (realized total Net P&L high of the day).
If my total Net P&L is negative for the day, I will stop trading if I experience ___ losing trades in a row.
My largest winning day will be greater than my largest losing day (realized total end of day Net P&L). (Enforced after 10 trading days)
I will have a winning day percentage greater than 40, in the event that I hit 50% of my max drawdown (realized end of day Net P&L).
You may be eligible to revise the above listed requirements on your Scout call.
When you complete the Live Trader Preparation period, you will receive a refund for the Combine deposit you previously placed (if applicable)
Quote from rawman74:
After reviewing your Combine performance, the equity partner is prepared to provide you with a funded trading account pending your performance in the Live Trader Preparation. Your account parameters will be identical to that of the funded account. Use this time to get comfortable with the transition.
Account Parameters
Duration: Until you have established profits greater than $1,500 (minimum of 10 trading days required, maximum of 60 calendar days)
Starting Balance: $0
Max Position Size: 5
Loss Limit:
Per day: $1,000
Per calendar week: $1,000
(The Weekly Loss Limit is the maximum amount you may lose at any point in a calendar week (Monday through Friday). The Weekly Loss Limit is factored based on the SUM of the realized total end of day Net P&L in the calendar week.)
Max Drawdown: $2,000(account may not drop below -$2,000)
Product to Trade: E-mini S&P
Trading Hours (in Central Standard Time): (to be discussed on scout call)
Start time:
Stop time:
Objective
Profit Target: $1,500
Adhere to the following requirements: (to be discussed on scout call)
I will not hit my loss limit (per day or per calendar week).
I will not hit my max drawdown.
I will not add to a losing trade.
I will adhere to the agreed upon trading hours.
I will close my position(s) by 3:10 PM CST.
I will not hold a position into the electronic close.
At the start of my day I will trade only _____ lot(s) and will only add to my position or increase my size if my total Net P&L is greater than $500.
I will stop trading for the day if my total Net P&L is greater than $500 and my total Net P&L has pulled back 50% off my high watermark (realized total Net P&L high of the day).
If my total Net P&L is negative for the day, I will stop trading if I experience ___ losing trades in a row.
My largest winning day will be greater than my largest losing day (realized total end of day Net P&L). (Enforced after 10 trading days)
I will have a winning day percentage greater than 40, in the event that I hit 50% of my max drawdown (realized end of day Net P&L).
You may be eligible to revise the above listed requirements on your Scout call.
When you complete the Live Trader Preparation period, you will receive a refund for the Combine deposit you previously placed (if applicable)
Any updates on this? With a 50k account the combine objective is a profit of $3500, but with this live trader prep its only $1500 and you have between 10 and 60 days to hit it without blowing up first or defaulting on any of the other parameters listed?
Quote from rawman74:
I knew it! Now they want me to do live trade prep. (sigh)
rawman- LTP is a very good thing for traders the scouts want to see more from or who they want to slowly transition to a funded account.
Don't be discouraged. You're doing well. Keep the focus, be you, and just trade.
mp
Quote from MichaelPatak:
rawman- LTP is a very good thing for traders the scouts want to see more from or who they want to slowly transition to a funded account.
Don't be discouraged. You're doing well. Keep the focus, be you, and just trade.
mp
Michael,
Was my question to rawman correct? :
With a 50k account the combine objective is a profit of $3500, but with this live trader prep its only $1500 and you have between 10 and 60 days to hit it without blowing up first or defaulting on any of the other parameters listed?
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