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.
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.
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.
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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....
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....
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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.
Billy Gates
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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.
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.
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.
You're a joke pal. I know your name is Leonardos and you're from NZ and that your email addres is [email protected]. 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
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Billy Gates
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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.
So far the no complaints whatsoever about the platform. It has some excellent features.
They're good set of people at tst, plus it's amazing how many people they actually take live. Hope it goes well for you, make sure you go to hoags classes. They're not like all the other b.s you see out there...
Billy Gates
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Thanks. Will check out hoag.
Its up to you what you want to do,however I have to warn you because I dont want other people to lose money like I did and fake companies like Patak's laugh behind your backs.Thats what they do right now;they laugh behind my back because with these combines they managed to take US$900 out of my pocket.Also they will charge you extra for trading sessions.I had one of their sessions which was just a waste of money!They dont tell you anything new;just that when good news come out market goes up,when bad news come out market goes down.WOW!!!Is that all??Even a 5 year old knows that.What a waste of money!I really can't believe that some people are so naive so that they pay companies like Patak's.Well...how about myself?I am the number 1 naive but I learned my lesson.
He's doing forex signals as well as curry sauce?
Patak's Indian recipes and videos, cooking sauces, curry pastes and chutneys
Patak's Indian recipes and videos, cooking sauces, curry pastes and chutneys
I just don't know how you will be able to be a great trader one day if you can't handle a loss. So you did a couple of combines but did not manage to get a roll over. Why is that? I mean to get your money refunded or a free combine all you need to do is follow the process goals and have an account balance greater than $0. So you lost money or could not control your downside a few months in a row and just because you could not make it you think it is a scam and nobody can make it.
You can't expect somebody just to hand over a live account to you and say go ahead trade it if you have not shown that you can make money on a consistent basis and control your down side. For them you are a trade, and like a trading setup you need to see past history of the trade setup working before you put your money on the line with positive expectancy. Now go and think about that and improve your trading so that someone will want to invest money in you.
There are traders out there that can make it and do get refunds and live accounts through them.
I know this because I chat with a few of them daily. I myself have passed the test as you call it 3 times.
Now rather than bitch and moan about it, think about what you have learned about trading and yourself. Then fix the problems and your trading will be much better for it in the long run.
The problem with you is you're just some idiot who can't trade. TST is a firm looking for to back undiscovered PROFITABLE traders. They're not there to teach a dreamer how to trade. The lessons are just there to help traders who are just struggling to get over the hump who are having mixed results. You're just some plank who's looking for a system, and has no idea what you're doing.
Here's a question for you... and i'll put it bluntly.... Why the **** would you pay to do a combine for financial backing if you already know you can't trade? If you can't already trade then what made you think you'd pass it, are you really that retarded lol?
Seriously, you really are an idiot, and on your bio you say you've been trying for 5-7 years to try and get a job trading and no one is interested in you. Hahaha, seriously what is your malfunction?
Give me one reason why you think TST should fund you if you don't know how to trade? You really are fantasy land, are you going to be an astronaut next lol?
DionysusToast
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Harsh - but has to be said - a very good point!
DionysusToast
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Mr O for president....
:clap: :clap: :clap: :clap:
:clap: :clap: :clap: :clap:
NVP
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On the face of it that doesn't sound like a bad deal at all - though out of interest - what are the RT costs and what is the monthly charge for software/data?
OK it is $5 round trip on a contract, expensive yes.
The platform is free, data is free, squawk box and news free, chat room free, lots of classes and webinars free, market therapy sessions free.
If you meet the performance requirements and have a net Pl above $0 at the end of your combine you get a refund or you can do another one for free,
Once you pass you get a live account, the first month is tough, you still have to trade with performance requirements and tight down side control until you have $5000 in your account. There after things become more relaxed and you can basically do what you want.
There is no profit or volume requirements.
Hope that helps but just check out the website for more details. Get a free trail to check it out. IF you are not ready for it, just open a practice account and try to pass the combine on that. If you managed to do so, sign up for the real thing and go get funded.
Don't be going there doing the combine while you know you don't have an edge or anything and then lose some money on the monthly combine fees and come back here and yell scam just because you don't know how to trade. IF you can trade use the two week free trail just to get used to the platform and to see if you can meet the objectives. IF you can't trade, use a practice account and learn how to trade withing their parameters.
Cheers, Ian
OH and if you sign up use my name as I will be getting some cash if you end up going live and I will very much appreciate that. My chat name in there is ian and I hang around in the interest rate room.
The platform is free, data is free, squawk box and news free, chat room free, lots of classes and webinars free, market therapy sessions free.
If you meet the performance requirements and have a net Pl above $0 at the end of your combine you get a refund or you can do another one for free,
Once you pass you get a live account, the first month is tough, you still have to trade with performance requirements and tight down side control until you have $5000 in your account. There after things become more relaxed and you can basically do what you want.
There is no profit or volume requirements.
Hope that helps but just check out the website for more details. Get a free trail to check it out. IF you are not ready for it, just open a practice account and try to pass the combine on that. If you managed to do so, sign up for the real thing and go get funded.
Don't be going there doing the combine while you know you don't have an edge or anything and then lose some money on the monthly combine fees and come back here and yell scam just because you don't know how to trade. IF you can trade use the two week free trail just to get used to the platform and to see if you can meet the objectives. IF you can't trade, use a practice account and learn how to trade withing their parameters.
Cheers, Ian
OH and if you sign up use my name as I will be getting some cash if you end up going live and I will very much appreciate that. My chat name in there is ian and I hang around in the interest rate room.
