Patak's Trading Partners/Topstep Traders

This is a discussion on Patak's Trading Partners/Topstep Traders within the Trading Firms forums, part of the Trading Career category; Watch out Patak's Trading Partners.I have personal very bad experience with them.They will charge you according to the account size ...

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Old Sep 29, 2012, 1:16am   #1
Joined Jun 2011
Patak's Trading Partners/Topstep Traders

Watch out Patak's Trading Partners.I have personal very bad experience with them.They will charge you according to the account size you want to trade and you have to pass the combine,which is a trading test.However they set you unrealistic profit targets.The money that you pay to them for their combine,you can use it to open a forex account and trade micro lots.DONT GIVE IT TO TOPSTEP TRADER!You have been warned.
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Old Sep 29, 2012, 5:10pm   #2
Joined Jul 2012
Re: Patak's Trading Partners/Topstep Traders

I trade at TST and I can personally vouch for Micahel Patek and everyone else at TST on the CME floor such as John Hoag. The profit target that they set you is highly realistic, and on top of that, before entering the combine test you can request a custom combine with a lower profit target that's more suitable for your personal trading. Also even if you don't hit the profit target, providing that your account is in profit at the end of the test, even if it's just a couple of dollars, you can either be refunded the fee you paid for the test, or roll over the combine and start again for free.

The above poster obviously has had a reality check in terms of their trading ability and obviously made a trading loss while on the test, otherwise you would of got your combine fee back. Also for the fee that you pay to do the test, which is only roughly a couple hundred dollars depending on the combine you choose, you're getting a fully professional front end and a news feed service live from the CME floor as well as well as full trade repots with all your stats which you are evaluated on. Eddie the broadcaster is between the DOW pit and the S&P pit. If you wanted to have all that for yourself you'd be looking at a hefty overhead each month. News feeds and professional front ends don't come cheap. When I traded prop in London I was paying $1500 a month just for my front end TT X Trader, then ontop of that I had my news feed etc. So my desk fee's each month where substantially more than the refundable deposit that topstep ask of you, and this is before we factor in that you're getting the chance to prove you abilites to get funded on account sizes from $30k - $150k. Also, when I first started trading I was on a 50/50 split. Topstep straight away put you on 60/40 split in your favour even if you just do the test and pass. Just like any other professional firm, your profit split increases up to 80% if you build your captial in your account so you have skin in the game too. In all honesty, reading your post made me angry because it just sounds like you're after a free ride with everything on a silver platter.

Also, the fact that you're saying save that $200-$300 to open a forex account and trade micro lots. With all the all the respect in the world, you've simply discredited yourself and embrassed yourself. Find me a professional trader who wouldn't laugh at you for saying you can realistically start trading with $300... Yeah maybe if it's just a side hobby and you just plan to buy a couple of beers with your profits at the end of the year...

Have some maturity and take responsibility for your own trading. Instead of spitting your dummy out you should of used your stats to see where you're going wrong so you can work towards being consistent. No one is going to let you loose with their money if you can't prove you're a consistent trader.

Last edited by Mr O; Sep 29, 2012 at 5:33pm.
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Old Sep 29, 2012, 7:05pm   #3
Joined Jul 2012
Re: Patak's Trading Partners/Topstep Traders

I also just wanted to add, when I personally first did a combine I didn't hit the profit target, but my account was in profit. I just went through some old emails and dug out the email that I got at the end of the test. I've taken a screenshot of this email which can be seen here 2012-09-29_1900 - MrOrange's library

Also in terms of the refund, everything is clearly stated before you start which can be seen in this screen shot
http://screencast.com/t/yTyxlYHhDTao

As you can see, as my account was in profit I was offered a refund or the option to start a new combine for free. As stated, the poster who started this thread obviously had his ego burst when he couldn't make a penny. It's a performance industry, if you can't cut the mustard then man up and take it on the chin and don't blame others for your own actions. If you can't take a knock without crying about it and blaming other people, then quite frankly that speaks volumes about your character. Life is hard, trading is hard....

Last edited by Mr O; Sep 30, 2012 at 3:56am.
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Old Oct 1, 2012, 5:37am   #4
Joined Jun 2011
Re: Patak's Trading Partners/Topstep Traders

ellinas77 started this thread You are obviously working for Patak or whatever his real name is.Because I believe that only someone who has taken money from Patak must have written these.
Quote:
Originally Posted by Mr O View Post
I also just wanted to add, when I personally first did a combine I didn't hit the profit target, but my account was in profit. I just went through some old emails and dug out the email that I got at the end of the test. I've taken a screenshot of this email which can be seen here 2012-09-29_1900 - MrOrange's library

Also in terms of the refund, everything is clearly stated before you start which can be seen in this screen shot
2012-09-29_1921 - MrOrange's library

As you can see, as my account was in profit I was offered a refund or the option to start a new combine for free. As stated, the poster who started this thread obviously had his ego burst when he couldn't make a penny. It's a performance industry, if you can't cut the mustard then man up and take it on the chin and don't blame others for your own actions. If you can't take a knock without crying about it and blaming other people, then quite frankly that speaks volumes about your character. Life is hard, trading is hard....
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Old Oct 1, 2012, 11:06am   #5
Joined Apr 2011
Re: Patak's Trading Partners/Topstep Traders

Quote:
Originally Posted by ellinas77 View Post
Watch out Patak's Trading Partners.I have personal very bad experience with them.They will charge you according to the account size you want to trade and you have to pass the combine,which is a trading test.However they set you unrealistic profit targets.The money that you pay to them for their combine,you can use it to open a forex account and trade micro lots.DONT GIVE IT TO TOPSTEP TRADER!You have been warned.
How much did you lose?

If you have a successful combine test they seem to be ready to fund you. Doesn't sound like a bad deal IF you can do it. I don't think there are many opportunities to get funded with a small outlay and a fairly simple test.

You haven't specified what targets they set you and allowed us to asses whether they were unfair. At the moment it just seems like a disgruntled rant.

How about some more information so we can make a fair decision.
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Old Oct 1, 2012, 11:42am   #6
Joined Jun 2009
Re: Patak's Trading Partners/Topstep Traders

Unrealistic targets? $250 a day with buying power of 5 lots and a $1000 daily stop loss.
If you ask me the stop loss per day should be much smaller and they should have you trading no more than 2 contracts at any given time. More people will be able to pass it then.

If you trade Gold or Oil or something this is 25 ticks a day on one contract. 2 and a half handles on the ES with a 2 lot. Come on man that is not unrealistic.

The problem is that most people lose control and then trade big size which will blow you out very fast.

Rather take a step back and trade one lots, make money on it consistently. You will make much more with your 1 lot trading futures than your $300 micro lots bs account. First you must learn how to trade though.
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Old Oct 1, 2012, 7:33pm   #7
Joined Jul 2012
Re: Patak's Trading Partners/Topstep Traders

Quote:
Originally Posted by ellinas77 View Post
You are obviously working for Patak or whatever his real name is.Because I believe that only someone who has taken money from Patak must have written these.
You're a joke pal. I know your name is Leonardos and you're from NZ and that your email addres is le23onard@yahoo.co.nz. I've passed these details onto the staff at TST, so they'll know straight away who you are. If it was my company you were slandering, you'd be getting a court summons in the post...

Will be funny if they post your trading results, then everyone will be able to see why you didn't get a refund

I would say give up on trading, but the futures markets needs hopers and dreamers like you. After all you can't have winners without having losers. People like you pay the rest of us lol

Last edited by Mr O; Oct 1, 2012 at 7:46pm.
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Old Oct 1, 2012, 7:46pm   #8
Joined Apr 2011
Re: Patak's Trading Partners/Topstep Traders

I thought it sounded like a good offer. I have started a trial with the platform and am going to apply for my combine also.

So far the no complaints whatsoever about the platform. It has some excellent features.
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