Mike, what were the 1099 amounts for the top 10 traders in 2012?
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
TopstepTrader and Patak Trading Partners- Easy to read QUESTIONS and ANSWERS
- Thread starter MichaelPatak
- Start date
- Status
- Not open for further replies.
Mike, what were the 1099 amounts for the top 10 traders in 2012?
Quote from volente_00:
Mike, what were the 1099 amounts for the top 10 traders in 2012?
Volente_00- TST and PTP do not release private information. We are very transparent with everything we do and how the program is beneficial to a developing trader and the opportunity that one earns being apart of TopstepTrader but PTP is a proprietary firms and works just like any proprietary firm in that we do not disclose that information to the public.
mp
Quote from bigarrow:
How many of your traders are making above 250k, don't think that would be violating anyone's privacy.
bigarrow- We do not have any traders that have produced that level yet.
I do want everyone to know that it takes proprietary firms MANY years to find profitable traders, especially the caliber you mention. I know two firm in Chicago that both said it took two years before they found their first profitable trader. We are no different.
mp
Quote from MichaelPatak:
Volente_00- TST and PTP do not release private information. We are very transparent with everything we do and how the program is beneficial to a developing trader and the opportunity that one earns being apart of TopstepTrader but PTP is a proprietary firms and works just like any proprietary firm in that we do not disclose that information to the public.
mp
So why offer to get back to me with 1099 results from 2012 when you knew you never would?
It does establish if your program is beneficial to being net profitable which would attract more paid combines if you showcased how your live traders are performing.
How about telling us only what the top producer 1099d ?
I like how the company has become more flexible with the combine. Should open up the doors to new talent for sure.
Can you clarify on the 10 day 30k combine you can actually keep trading past the 10 th trading day to try to meet the profit target as long as you have not hit the max drawdown or daily loss limit ?
I have looked into the platform offered and found it wasn't for me, or maybe inferior to the base IB product. Why join a firm that can't offer at least a couple platforms? I think I can demonstrate a positive p'n'l. but I want to use the plaform I am comfortable with, and pay a fee that is reasonable. The commissions charged, from what I can see are a deduction that easily equates to profit sharing, and I don't buy it. If it is negotiable ok, but not getting that impression.
Quote from volente_00:
So why offer to get back to me with 1099 results from 2012 when you knew you never would?
It does establish if your program is beneficial to being net profitable which would attract more paid combines if you showcased how your live traders are performing.
How about telling us only what the top producer 1099d ?
volente_00- I apologize for offering that. As you can read through my prior threads you will see that we have developed the program over the course of two years. We are now finding traders that stay live (scratch traders, ie. sound traders) and are now working with them to get their mind straight to produce. We did not have large producers last year in the 6 figure or high 5 figure.
As far as the program is considered, the Combine is a tool to help traders create or develop their trading strategies without having their trading capital at risk. It also allows traders to get their confidence back as well as helping them find their weaknesses and strengths through trading each day with risk parameters enabled. (like a real funded account)
As we all know we learn when we are in the market. We allow traders to be in the market and work towards their goals. We do not nor can not control their trading and trade decisions. Each trader has their own journey that they may at times take 3 steps forward one back.. while at other times they take 3 steps forward 4 back.. The Combine allows us to find those that are making smart decisions, managing their risk and keeping themselves moving consistently forward each day.
I hope that helps.
mp
Quote from tango29:
I have looked into the platform offered and found it wasn't for me, or maybe inferior to the base IB product. Why join a firm that can't offer at least a couple platforms? I think I can demonstrate a positive p'n'l. but I want to use the plaform I am comfortable with, and pay a fee that is reasonable. The commissions charged, from what I can see are a deduction that easily equates to profit sharing, and I don't buy it. If it is negotiable ok, but not getting that impression.
tango- We are working with NinjaTrader and will have their platform available within 2 months.
This is what we offer and many things become negotiable once a trader starts producing as we will do what we can to retain that talent:
http://www.topsteptrader.com/fundedtrader
mp
Adding Open Ecry to the platform list would open up a lot of possibilities. There are many retail traders on the platform, plus it's fairly easy to grasp from the start. The learning curve is minimal.
I used T4 years ago and it was overwhelming at first. I get that the floor traders use it, but this program IMO is not really designed for the at-home trader and a platform that feels clunky can be a big turnoff.
OEC has a nice platform that can be simple or complex, but the learning curve is small.
I used T4 years ago and it was overwhelming at first. I get that the floor traders use it, but this program IMO is not really designed for the at-home trader and a platform that feels clunky can be a big turnoff.
OEC has a nice platform that can be simple or complex, but the learning curve is small.
Quote from brownsfan019:
Adding Open Ecry to the platform list would open up a lot of possibilities. There are many retail traders on the platform, plus it's fairly easy to grasp from the start. The learning curve is minimal.
I used T4 years ago and it was overwhelming at first. I get that the floor traders use it, but this program IMO is not really designed for the at-home trader and a platform that feels clunky can be a big turnoff.
OEC has a nice platform that can be simple or complex, but the learning curve is small.
brownsfan- Thanks for the input. We have had a couple request for open ecry. We are wrapping up the development with NinjaTrader first. Once this is working well with our program (as there is a lot in the back-end that needs to be tied into managing risk) we will look to add another platform.
Appreciate the input.
mp
- Status
- Not open for further replies.