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Old 12-08-2012, 02:49 AM   #17

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Re: Topsteptrader

[QUOTE=Predictor;168000]
.



Do you by chance work for TST?

I do so wish .
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Old 12-10-2012, 01:06 PM   #18

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Re: Topsteptrader

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Originally Posted by Predictor »
zdo:
Michael Patak, patak head-honcho, has stated numerous times they don't train traders. They don't offer training of any sort. They may have changed this recently but that's been their line from Day 1. They offer psychological training but not how to trade. I'm just trying to inform the readers here of what their deal is.

I honestly believe this is one of the few things they do that make sense.. as a prop firm you don't want everyone trading the same way.
Hello guys- I wanted to jump in this thread and provide the opportunity to answer any of your questions.

As for training traders, the market is your best teacher and the longer you are immersed in the market the more you will learn about it and yourself. With the failure so high in this business we designed the Combine, where traders can get the time, feedback, and opportunity to showcase their talent without risking any trading capital.

I am open to questions you have. As for the dummy 1 and dummy 2.. Those are actual traders we have funded.

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Old 12-11-2012, 06:26 AM   #19

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Re: Topsteptrader

Hi Michael, and welcome!

When you say that some conditions can be customized, does that include over night positions in some products that don't gap much ?


Quote:
Originally Posted by MichaelPatak »
Hello guys- I wanted to jump in this thread and provide the opportunity to answer any of your questions.

As for training traders, the market is your best teacher and the longer you are immersed in the market the more you will learn about it and yourself. With the failure so high in this business we designed the Combine, where traders can get the time, feedback, and opportunity to showcase their talent without risking any trading capital.

I am open to questions you have. As for the dummy 1 and dummy 2.. Those are actual traders we have funded.

mp
aka "nebraska" in our Squawk Radio broadcast and interactive chat room.
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Old 12-11-2012, 10:15 AM   #20

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Re: Topsteptrader

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Originally Posted by kuokam »
Hi Michael, and welcome!

When you say that some conditions can be customized, does that include over night positions in some products that don't gap much ?
Kuokam- We do review each customized proposal. If you would like to customized your Combine evaluation to allow for holding a position when the electronic market is closed you can review our page and send your proposal.

We will then look to get this approved with our equity partner. Approvals for overnight trading are case by case.

mp
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Old 12-12-2012, 12:22 AM   #21

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Re: Topsteptrader

I just got this in my inbox today...I think this is a step in the right direction. I will have to re-evaluate the offering. I am too busy to try it immediately but I'm more open to attempting one now. I have never been negative in my real money trading. So, it would be nice to have a backup.

I'm sure many would like to see me try and fail. .lol
----------

Traders who have received funding after successfully completing a $30K (or $50K) Combine have consistently proven to be some of the most disciplined and consistent traders we have trading in the live market. Therefore, we've made the following changes:
The 10-Day Combine profit target for the $30K account has changed from $2,500 to $1,500
The 20-Day Combine profit target for the $30K account has changed from $4,000 to $2,000
For those who receive a funded account after successfully completing the $30K or $50K Combine are now eligible to receive additional buying power once an account cushion of $5K+ in profits has been built.

AND

Those who receive a funded account after successfully completing the $30K Combine may receive an increased daily loss limit once an account cushion of $5K+ in profits has been built.

Previously, a funded account would have been required to establish at least $15K in cumulative profits for these two parameters to be negotiable for an increase.

As a reminder, you are always welcome to customize your Combine objective for any of the Combine options, learn more here.
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Old 12-13-2012, 04:51 PM   #22

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Re: Topsteptrader

I'm really thinking about trying this. For the record, I believe that it was originally setup as a way to generate fees from the combines. However, if they can make the "math" make sense then they may get some real traders -- like me. I've did well in my personal account but it might be good for me temporarily take a rest break.

I still have to look at the math and see if it makes sense. The reduced goals should up my odds though.

Michael, you are now offering a NinjaTrader version?
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Old 12-13-2012, 06:01 PM   #23

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Re: Topsteptrader

I've submitted a custom combine. However, on second look at the website I notice some things. There are still some inherent/fundamental problems in what they offer, that to me, would need to change for me to say the math actually made sense:

Max risk is only 2x daily loss limit for higher plans. Max risk should be at least 4x-6x the daily loss limit to enable a trader to realistically assume the daily risk given. For example, on the highest plan the max drawdown is only 4k while the daily loss limit is 3k.

That is not realistic. It is not an honest offer. An honest offer would say okay, if I'm giving you 3k daily loss limit then I'm going to give you 12k loss limit.

I mean ask yourself, would you trade a system that stated up front it could lose 3k in a single day with only 4k allocation? It doesn't make sense. You wouldn't do that unless you were an idiot.

So what's the real daily loss limit for the 4k account... you guessed it 1k before splits or about equivalent $600 after splits. Not bad but not what is advertised. What would you need to trade under same parameters? 600*4 = $2400 account + intraday margin or about $3500-$4500.

Last edited by Predictor; 12-13-2012 at 06:06 PM.
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Old 12-13-2012, 08:32 PM   #24

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Re: Topsteptrader

Quote:
Originally Posted by MichaelPatak »
Hello guys- I wanted to jump in this thread and provide the opportunity to answer any of your questions.

As for training traders, the market is your best teacher and the longer you are immersed in the market the more you will learn about it and yourself. With the failure so high in this business we designed the Combine, where traders can get the time, feedback, and opportunity to showcase their talent without risking any trading capital.

I am open to questions you have. As for the dummy 1 and dummy 2.. Those are actual traders we have funded.
mp
aka "nebraska" in our Squawk Radio broadcast and interactive chat room.

Oh good.They looked like 2 obvious 1 post spammers to me but i'm sure they'll be contributing to the community any day now on a whole range of topics.My mistake ,sorry.
Will any more dummies..dammit i mean traders be coming on to tell us their "amazing" stories?
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