TopstepTrader and Patak Trading Partners- Easy to read QUESTIONS and ANSWERS

Status
Not open for further replies.
Quote from volente_00:

They were never accused of fraud, they were accused of running a company that makes more from combine fees than from live trading and so far that has not been disproved.
More...

No, they were accused of outright fraud. Yes, "some" members harped on the "TST is making too much money on fees" argument. But the attacks on them were based on fraud. Please re-read the threads. In fact I'll one up you, one of the members here "claimed" to have launched a complaint with the CFTC. They also claimed to call the CME and report them for fraud. They also claimed to get an attorney to go after Patak. Like I said, re-read the thread.

You need to be very careful volente with the words you use. When one uses the word "scam" or "fraud" that implies a violation of a contract. Just because a combine is difficult does not make it a scam. Nor does how much money they make from the combine make it a scam.

Just as how much money the Brights make on commissions does not make them a scam either. Even over charging for their 3 day boot camps is not a scam.

My only contention with TST is that their website was very transparent and they that fulfilled their contractual obligations. So far, not a single member has been able to say anything to the contrary. I could care less how much they make on fees like I said earlier, I could care less how much money the Brights make. I could care less how much money TT makes selling their software. At the end of the day, the only important variable is how much YOU are making.
 
Quote from Maverick74:

I have no idea what you are talking about. Obviously English is your 3rd language. They don't tell you what hours to trade. "I" was suggesting that you trade during your slow time whenever that is. They don't care when you trade or how often you trade. Seriously where do you come up with this stuff.
More...

Good attack. No actually my problem is I read ET while I am working and try to respond quickly. I get that it doesn't lend itself to responding with perfect English, and it is a an issue I go after my kids for with Twitter, etc. I see another avenue for people new to trading to be taken for a ride.
Have fun, signing off
 
I haven't read much of this thread, but I've noticed some of the expert long time traders on here have signed up. How many of you guys got funding and how is it going since you got the funding from this company.
 
Quote from bigarrow:

I haven't read much of this thread, but I've noticed some of the expert long time traders on here have signed up. How many of you guys got funding and how is it going since you got the funding from this company.
More...

I don't believe anyone from elite recd funding from Patak. Bravo for the guys who tried--- NONE of the TA brigade even gave it a shot in public--some may have in private but blew out and were too embarassed to let us know. surf
 
I tried two Combines and failed both.

The first one started decently, but then I blew it and hit my maximum loss as early as day 2.

I then tried a new Combine, same parameters and was up I believe $5000-6000 on day 5. I then had a moderate losing day on day 6, tried to swing for the fences on day 7 and blew my shot at making it.

My excuse is that I was not really ready for the first Combine as I had been away from trading for quite a long time and should have prepared better first. During the second Combine, I was certain that I would make it, but one solid losing day is all it takes.

I still think TST is a legitimate operation and I will probably try it one more time during the year, but I'm currently very busy with other stuff and I do need to improve my trading skills before trying one more time.

I could say that the volatility was very low on ES during the period I traded, but I do not want to make excuses. Maybe I'll see if I can go with anther more consistently volatile instrument next time if I do try one more time.

Regards.
 
If I do try one more time, I think I will try to get another customized Combine, but tweak the parameters a little more in my favour.

For example, the 20-day Combine for the $30 000 account have a profit target of $2000. Daily loss limit is $500 and maximum drawdown is $1500, i.e., three maximum loss days in a row.

These requirements certainly should be achievable, but is it worth my while to spend 20 days qualifying for a $30 000 account with a 60% split?

Personally, I don't think it's interesting for me. Trading, both actual trading and preparation takes a lot of time and effort for me, so it needs to be worth my while and pay better than what I can sell my skills for in the real world, which as of right now would be $6000 risk-free for 20 days of labour working normal hours. Add some extra hours and I can easily do $7-8000.

I'm not even sure if I'm that interested in continuing day trading any longer anyway, but that's another topic. I miss the times when I was raking in cash swing trading and doing other stuff in the meantime. Maybe it's time to get back to the basics.
 
Thank you for this honest feedback. Next time you make 5-6 k, just trade for 1-2 ticks for the remaining days required to make up the ten and I think it will be okay.
You are not the first one to be out due to loss limit. Looks like one needs to compute it and have the actual limit converted into ticks/points on his mind before every trade.
I am preparing myself to take the test, but I have 2 handicaps so far: I have never traded on DOM before and only occasionally dabbled in futures on SB platforms. So , I thought I first needed to have some training .

Quote from Laissez Faire:

I tried two Combines and failed both.

The first one started decently, but then I blew it and hit my maximum loss as early as day 2.

I then tried a new Combine, same parameters and was up I believe $5000-6000 on day 5. I then had a moderate losing day on day 6, tried to swing for the fences on day 7 and blew my shot at making it.

My excuse is that I was not really ready for the first Combine as I had been away from trading for quite a long time and should have prepared better first. During the second Combine, I was certain that I would make it, but one solid losing day is all it takes.

I still think TST is a legitimate operation and I will probably try it one more time during the year, but I'm currently very busy with other stuff and I do need to improve my trading skills before trying one more time.

I could say that the volatility was very low on ES during the period I traded, but I do not want to make excuses. Maybe I'll see if I can go with anther more consistently volatile instrument next time if I do try one more time.

Regards.
More...
 
Quote from yiehom:

I am preparing myself to take the test, but I have 2 handicaps so far: I have never traded on DOM before and only occasionally dabbled in futures on SB platforms. So , I thought I first needed to have some training .
More...

I was also very concerned about trading from the DOM, as I had to make the switch from Ninja (chart based order execution) to the T4 DOM (still used Ninja for charts) on my second combine, but it went very well and I learned it very fast.

Maybe it's tougher if you're a super fast scalper, but for my style of trading, which can be fast at times, it went really well.

Good luck!
 
So, you used T4 but for execution, and took your set ups from the charts, I guess?. Did you trade any thing else than the ES?


T
Quote from Laissez Faire:

I was also very concerned about trading from the DOM, as I had to make the switch from Ninja (chart based order execution) to the T4 DOM (still used Ninja for charts) on my second combine, but it went very well and I learned it very fast.

Maybe it's tougher if you're a super fast scalper, but for my style of trading, which can be fast at times, it went really well.

Good luck!
More...
 
Status
Not open for further replies.
Back
Top