Allright... Received log in info... I set up the platform etc... Looking to start trading soon if not today, then maybe tomorrow...
kkfx- 1. Is putting a stop loss mandatory for a spread trade? mp- No. We want a recruit to contact scouting@topsteptrader.com if they will be trading spreads as we must make adjustment to the account and make note of it. kkfx- 2. Only exchange traded spreads are allowed or synthetic spreads too? mp- We recommended exchange traded spreads but we do allow both that is why we want the recruit to email us for permission prior to trading spreads. kkfx- 3. Is daily loss limit same for spread trading techniques too? Is the trade automatically cancelled should a spread trade goes against the trader? mp- Yes daily loss limit is the same. Again we do need contact from the recruit as we can hear them out on what they are doing and then know how we will be evaluating their trading when trading spredads. kkfx- 4.Can we hold a spread trade even after electronic close of the exchange in some spreads? mp- this is case by case. We have done this but it depends on the market. kkfx- 5. For currency futures, can we hold a swing trade for days? mp- We do not allow a recruit to hold a position of days. When a live funded traders build up their account they are open to doing this. kkfx- 6. Suppose an appropriate hedge ratio exceeds the daily position limit of no of lots, is it possible to put the same hedge ratio? mp- We have increased position limits for situations like this. We would need you to email us prior to your first trade day of the Combine. I hope that helps. mp
It was great talking with you CooltraderDude. Looking forward to the thread and seeing how you trade. Rain or shine we have a lot of respect for people that blog or make public their performance in the Combine shows a lot of humility and accountability.. Trade smart.. mp
That is hope we look at it. PTP does not take their cut until a withdraw is requested. This is how most backing works in Chicago. I would always bring my account back to balance that I knew was a good cushion each month when I would take a withdraw. We do encourage our traders to take withdraws monthly but keep enough in the account over the cushion to weather any trading storm. mp
Maverick at other prop firms I know they will hold your cushion until your contract is up if you terminate early. Traders and prop firm owners I know typically have $100k cushion oe buffer. This is more due to the traders that grow from small to big must increase their cushion with the firm. Lastly many guys like to be backed rather then trading their own capital. To each its own. I did both and there was a positive in each. mp
Dear Mr Patak, Thanks a lot for a detailed reply for the spread trading terms. I will register for the combine soon.
Yes... I am, as I promised I would...! See in Journals... The Top Step Trader Combine: Cool Trader Dude http://www.elitetrader.com/vb/showthread.php?s=&postid=3628404#post3628404
Michael Question .. If traders can end there relationship at Any time & split any profits with ptp traders do agree to a 1 year contract right ? then why you would break that agreement so easily , that does not make sense Why do you require the 1 year contract then , If there is no commitment ?