专访Michael Patak：交易员必须无条件自信

Michael Patak：Patak交易伙伴公司首席执行官、TopStepTrader创办人

[/table]Michael Patak在芝加哥商品交易所成为场内交易员已经有超过10年，也是TopStepTrader的创办人。他在2003年成我芝加哥商品交易所会员，也是NFA（国家期货协会）注册会员。在创办TopStepTrader之前，他在道指期货交易池场内交易交易8年。他是道指交易池协会会员，也是道池交易池交易量最大的交易员之一。Michael Patak毕业于爱荷华州立大学，经济和农业商业专业，专攻商品定价和分析，也是大学美式橄榄球队员。在大学里，他开始关注市场并从事交易。在他20岁到22岁的几年里他因为交易亏损了9万美元。这个经验给了他很大的教训，也使他认识到有一个像Combine一样的系统的重要性。大学毕业后，Patak决心成为一名期货交易员。他开始为CBOT的Kottke结算公司工作。在公司工作时，他必须在非常严格的风险控制参数下进行交易。这种训练为他成为一个纪律严明，稳定赢利的交易员打下了坚实的基础。八个月后，他成功的赚取了足够的资金，在CBOT买了席位，开始自己交易道指期货。

访谈精彩语录：当我16岁时发现大部分人的工作时间与报酬并不成正比，我就想我应该成为一名期货交易员。我喜欢成为我个人命运的主宰。失败会让你变得谦虚，会让你放弃过分的自我。从我的经历中我认识到“必须无条件的相信自己”，这会让我对任何市场条件都有所准备。作为一个期货交易员他/她每天都必须充满热情，因为只有这样他/她才能忍受这个行业永无停息的上下沉浮。他们的成功靠的是把他们的注意力集中在一个市场，而且不会对每一笔交易想太多。最好的交易员都是那些对期货交易充满激情、纪律严明、对期货市场有足够的耐心的人。大家应该认识到做期货交易就像人生旅程，你不需要与其他人进行比较。你是与你自己竞争并逐步成为最好的期货交易员。在过去的8年里，我在期货交易池的“最高台阶”（Topstep）交易。只有最好的期货交易员才有资格在“最高台阶”交易。老实说，我从来没对自己的期货交易成绩满意过。期货市场在不断进化，所以我必须不断改善我的技术来适应期货市场的变化。期货交易作为一个职业并不适合每一个人。这是一个非常难做的行业，它不仅挑战期货交易员的智商也对他/她的情商有非常高的要求。期货交易这个行业就是“以猎物为生”，这是不可改变的事实。我觉得一个人必须无条件的自信，才能始终从大的方向着眼，在期货市场中学习进步，而不会因为一次交易失败而丧失信心。对期货交易上瘾是很容易发生的一件事。如果你不能操作5万美元的账户，那你也不能操作一个5千万美元的账户。我们并不注重账户的总赢利，我们更看重交易员在各方面的表现。不论地域，所有赢利的交易员都必须学会如何管理和控制损失才能充分发挥他们的能力。我们会对成绩优秀的实盘交易员提供这样的机会（到美国交易）。期货交易这个行业更像是一个马拉松比赛而不是一个短跑比赛。你可以有赢利的日子，也会有亏损的日子，但你必须学会及时止损，让赢利奔跑。有些交易员很有天赋，但不管怎样，你都必须不断努力，跟上市场的步伐，与其他交易者竞争。纪律性是成为一名好的交易员的基础。如果你还没准备好做一个纪律严明的交易员，或不能为此付出努力，那么你不应该进入这个行业。对交易员来说，市场情况是不断变化的，纪律性能使你承受任何市场的变化情况。我应对市场突发情况是通过充分的准备和踩准市场的节奏，并且认识到这样的事件在任何时候都能发生。这样，我就能在机会出现时牢牢抓住它。程序交易一般是由交易员设计，并在程序员的帮助下完成的。因此，你首先必须是一名期货交易员才能理解你想用程序实施的策略。我相信在中国有巨大的机会，也有很多没有被发现的人才。我们TopstepTrader的目标就是发掘人才并给他们实盘账户操作。我非常的兴奋地期盼有机会能访问你们美丽的国家，并与中国的顶尖交易员见面，讨论，和互相交流学习。

关于Michael Patak、关于交易员期货中国1、Michael Patak先生您好，感谢您在百忙之中接受期货中国网的专访。您做场内交易员已经超过10年，您为什么选择期货交易员这个职业？您觉得“做一名期货交易员”最大的魅力是什么？Michael Patak：我在内布拉斯加长大。那里大部分人都是按小时获得报酬。人们判断一个人是否成功是看他每小时的工资是多少。但是，当我16岁时发现大部分人的工作时间与报酬并不成正比。从那时开始我就想我应该成为一名期货交易员。其次，我认为一个人的成功应完全取决于这个人的判断和决定而不是工作时间的长短。我喜欢成为我个人命运的主宰。这也是为什么期货交易作为职业选择和生活方式强烈吸引我的原因之一。

期货中国2、您在上大学时就开始进行期货交易了，不过您受到了挫折，亏了9万美元，当时您有没有否定过自己、怀疑过自己？那一次挫折教会了您哪些东西？Michael Patak：失败会让你变得谦虚，会让你放弃过分的自我，这是我从这段经历中得到的最大的收获。当我受到挫折时，我是怀疑过自己。但是从我的经历中我认识到“必须无条件的相信自己”，这会让我对任何市场条件都有所准备。我并不以每一笔交易的成败来判断自己是否成功，而是从一个大的方向来帮助自己学习成长。正是因为我在刚开始做期货交易员的时候亏损了很多钱，使我认识到期货交易新手需要一个像Combine一样的培训。这种培训可以让期货交易新手训练自己的纪律性和稳定赢利的能力，从而不至于在实盘交易时亏损大量金钱。

期货中国3、您是否在寻找和您一样对期货交易充满激情的期货交易员？Michael Patak：任何一个期货交易员都必须对期货交易充满激情，只有这样他/她才能获得成功。如果一个期货交易员对期货市场没有热情，那么期货交易这份工作会给他/她带来沉重的压力，使他/她失去活力。因此，作为一个期货交易员他/她每天都必须充满热情，因为只有这样他/她才能忍受这个行业永无停息的上下沉浮。

期货中国4、您的身边有没有来自中国的交易员，如果有，您觉得他们的表现如何？Michael Patak：在交易池和场内交易台都有一些来自中国的交易员。我有幸认识他们中的一些人并与他们成为了朋友。他们的成功靠的是把他们的注意力集中在一个市场，而且不会对每一笔交易想太多。这也是我一再强调的成为一个好的交易员的关键。

期货中国5、在您的心目中世界上最伟大的交易员是哪一个或哪几个？您为什么欣赏他（他们）？Michael Patak：最好的交易员都是那些对期货交易充满激情、纪律严明、对期货市场有足够的耐心的人。他们能够预测和抓住期货市场的机会。我仰慕他们激情和他们的交易方法。这对我早期的发展很有帮助。期货中国6、您觉得就您目前的交易水平，在美国的所有交易员中能排在什么位置？Michael Patak：大家应该认识到做期货交易就像人生旅程，你不需要与其他人进行比较。我始终专注于自己的历程以及如何使自己成为最好的期货交易员，而不是与其他人比较。这也是我对Combine的学员一直强调的，你是与你自己竞争并逐步成为最好的期货交易员。当然，我在期货交易所的时间已经超过10年了。在过去的8年里，我在期货交易池的“最高台阶”（Topstep）交易。只有最好的期货交易员才有资格在“最高台阶”交易。

期货中国7、您对自己的交易能力是否满意？您的交易水平还有没有提高的空间？Michael Patak：老实说，我从来没对自己的期货交易成绩满意过。我总是觉得我还可以改进提高。在我学到的知识中，有一点我认为是很重要的：期货市场在不断进化，所以我必须不断改善我的技术来适应期货市场的变化，以期达到自己最好的水平。没有人是完美的期货交易员。每个人都必须不断努力工作，提高他们的知识水平和期货交易能力。期货中国8、期货交易员是一个淘汰率很高的职业，您生存下来了，并且有了很好的事业，但很多人都倒下了，被市场洗出局了。对哪些被市场淘汰的人，请您说几句？Michael Patak：我想对他们说的是期货交易作为一个职业并不适合每一个人。这是一个非常难做的行业，它不仅挑战期货交易员的智商也对他/她的情商有非常高的要求。如果一个期货交易员听任期货市场的摆布，那它就会把这个期货交易员的活力从他/她身上吸走。我能够在这个行业中生存下来的一个动力是我对期货市场充满热情，我有强烈的欲望想要使自己做得更好。另外我还想对这些人说，请他们问问自己这些问题：“你为什么想成为一个期货交易员，你愿意为此付出努力吗？”如果他们不能很自信的回答这些问题，那么这个职业并不适合他们。

期货中国9、您的座右铭是“我们以我们的猎物为生。”（We eat what we kill），请问您的猎物是什么？您是期货市场中的“狼”吗？Michael Patak：期货交易这个行业就是“以猎物为生”，这是不可改变的事实。我的另外一个座佑铭是“无条件自信”。我觉得一个人必须无条件的自信，才能始终从大的方向着眼，在期货市场中学习进步，而不会因为一次交易失败而丧失信心。亏损在期货交易中是正常的事，也是必须的。我自己就是通过经验的积累才有能力无条件自信的。

期货中国10、有些交易员会沉迷于交易，除了交易没有其他任何爱好，您是否如此？您有没有其它的兴趣爱好？Michael Patak：对期货交易上瘾是很容易发生的一件事。但你必须有另外一些兴趣爱好，这样你就可以停下来享受生活中其它的乐趣。否则期货交易会让你消耗太快。我喜欢健身，跑步，阅读，放松，和朋友家人在一起。

关于Patak交易伙伴公司、关于TopStepTrader

期货中国11、Patak交易伙伴公司从全球选拔交易员，给予严格的培训，并给胜出者提供实盘资金和盈利分成。你们做这一件事情的主要目的是什么？Michael Patak：我们创造Combine的目的是想看看谁能在当今的期货市场进行交易。因为期货市场是不断演变的。我们的招聘方式可以让我们看到谁最能适应这个市场，并且遵守纪律，稳定赢利。我们的Combine计划可以让我们找到有这样技能的期货交易员，我们会为他们提供实盘账户并让他们进行实盘期货交易。

期货中国12、在全球有成千上万的人向往成为顶级的交易员，TopStepTrader的参与者很多，请问到目前为止共有多少人报名TopStepTrader？前后共有多少人通过了培训和筛选，并与你们成功达成合作？Michael Patak：我们有许多学员接受Combine训练，学习，发展，并成为实盘交易员。最近一段时间，我们每周至少选2个交易员开始实盘交易。参加Combine的人越来越多，我们的实盘交易员也会越来越多。

期货中国13、到目前为止，你们给选拔出来的交易员单个账户最大的资金规模是多少？Michael Patak：所有实盘交易员都从5万美元账户开始操作。交易员可以选择让他们的账户资金不断增长而不是马上抽取提成。随着他们的账户资金的增长，我们会给他们更高的每日止损限额，并允许他们持有更多头寸。这是成为大交易员的循序渐进的过程。在不久的将来，我们将会增加10万和15万美元的Combine和实盘账户。当然，如果你不能操作5万美元的账户，那你也不能操作一个5千万美元的账户。纪律和耐心对不同层次的交易员都非常重要。

期货中国14、到目前为止，选拔出来的交易员，单个账户盈利最多的累计到多少了？Michael Patak：在期货交易中，我们并不注重账户的总赢利，我们更看重交易员在各方面的表现。 因为期货交易是高度杠杆化的，所以账户赢利百分比并不相关。有人可能在一周或一个月内赚到很多钱，但如果他们不能控制负面风险，不能稳定赢利，也没有纪律性，那这只能算是一次偶然，因为他们亏损的日子会远远超过他们赢利的日子。期货中国15、TopStepTrader的学员来自世界五大洲，据你们内部评估来看，来自哪个区域的交易员最优秀？Michael Patak：我还没有注意到哪个地区的交易员特别的优秀。不同的文化，个人在市场中表现各异。我们目前对俄国和中国开放，我们已经发现不少很有潜力的交易员。不论地域，所有赢利的交易员都必须学会如何管理和控制损失才能充分发挥他们的能力。

期货中国16、实盘操作非常优秀的交易员，有没有机会到美国和您一起工作？Michael Patak：是的。我们会对成绩优秀的实盘交易员提供这样的机会。如果实盘交易员有兴趣，他们可以转到芝加哥，在CME交易所交易。对于优秀的期货交易员，我们会尽我们的力量来满足他们的要求，因为我们已经与优秀的期货交易员建立了“双赢”的关系。当然期货交易员也完全可以进行远程交易。期货中国17、COMBINE训练每天的账户止损为1000美元，加速COMBINE训练每天的账户止损为500美元，实盘一开始每天的账户止损也为500美元。设计这么严格的止损，主要是锻炼交易员哪些方面的能力？Michael Patak：我们的实盘账户单日止损限额是根据期货交易员参加的Combine类型（四周或加速）设在1000美元或500美元而定的。我们目前正在考虑推出新的账户金额更高的Combine，单日止损限额也相应的提高到（2000到3000美金）。之所以设定500和1000美金的单日止损限额，我们是希望我们的期货交易员能够控制和管理风险。所有的期货交易员都需要有止损限额。这可以帮助期货交易员生存下来并接着战斗。期货交易这个行业更像是一个马拉松比赛而不是一个短跑比赛。你可以有赢利的日子，也会有亏损的日子，但你必须学会及时止损，让赢利奔跑。我们的风险控制参数的设定就是为了训练交易员学会及时止损，特别是在他们对市场看不清的时候，应该停止交易。这样他们就可以在对市场把握好的时候充分利用机会。

期货中国18、你们的训练要求和实盘要求都是偏短线的，你们是否只需要具备短线交易能力的交易员？而忽视了具有波段交易能力和中长线交易能力的交易员？Michael Patak：我们非常重视风险管理。电子盘23小时开放。我们希望期货交易员在每天市场收盘的1小时里没有仓位。原因是如果世界上发生了什么影响市场的事件，期货交易员可能对他们的仓位完全无法控制。我们认为在收盘时仍持有仓位是一种冒不必要风险的做法。当然，如果一个期货交易员已经证明他的能力，同时他/她的帐户资金增长到一定程度后，我们也允许这个期货交易员做波段交易或持有仓位。但当一个新的期货交易员刚开始操作实盘时，我们会格外小心，以确保期货交易员能够控制他/她的风险。因此，在Combine或新的实盘交易时，期货交易员在每日市场收盘时必须平仓。

期货中国19、在模拟盘培训的过程中，Patak交易伙伴公司会给到交易员哪些方面的支持？Michael Patak：我们提供一系列的教练指导服务来帮助交易员更好的理解期货市场、期货交易员自己和期货交易员的交易风格来最大限度的发挥他们的交易能力，以期缩短学习时间。除了教练指导外，我们每周会有一次交易心理专家的“Market Therapy”（市场诊疗）讲座。我们的TsT实况广播和互动交易员聊天室对交易员也会有非常大的帮助。实况广播可以让交易员了解CME交易所正在发生的情况。聊天室有来自世界各地的，不同水平的交易员。所以每天在聊天室讨论的信息和教育材料对期货交易学员来说是相当有益的。这些工具能帮助新的期货交易员成为纪律严明、稳定赢利的期货交易员。新的期货交易员必须耐心的通过Combine，让自己在这个过程中不断成长，从而发挥出他们最大的潜力，然后开始实盘交易。

期货中国20、在实盘操作的过程中，Patak交易伙伴公司会给到交易员哪些方面的支持？Michael Patak：在交易员开始实盘操作时，我们的高级交易员会和他们保持接触，帮助他们学习，发展，持续增长账户资金。我们也会从分享交易赢利中获利。

关于交易能力、交易素质

期货中国21、一般来说，能够在TopStepTrader培训中胜出，拿到实盘资金的交易员，有哪些方面共同的特征或素质？Michael Patak：所有的交易员都对市场充满热情，对个人成长，耐心，强烈的自我意识充满激情。 最重要的是对自己的行为负责，每一天都不断学习。

期货中国22、要成为最顶级的交易员，您觉得主要是靠天赋还是靠努力？Michael Patak：我认为两者皆有。有些交易员很有天赋，但不管怎样，你都必须不断努力，跟上市场的步伐，与其他交易者竞争。这是我们所有期货交易员每天都要接受的挑战。

期货中国23、请您谈一谈纪律在交易中的重要性？Michael Patak：纪律性是成为一名好的交易员的基础。如果你还没准备好做一个纪律严明的交易员，或不能为此付出努力，那么你不应该进入这个行业。纪律性让期货交易员能接受亏损，或充分利用机会，并且在表现好和不好的日子里，他/她都能从中吸取经验教训。对交易员来说，市场情况是不断变化的，纪律性能使你承受任何市场的变化情况。专注于纪律，不要让你的情绪控制你，应学会预测市场行为和走向，而不是在市场的噪音中失去方向，这样你才能在交易游戏中胜出。

期货中国24、如今的金融市场，行情波动会被各种信息干扰，请问您如何应对突发事件？Michael Patak：我应对市场突发情况是通过充分的准备和踩准市场的节奏，并且认识到这样的事件在任何时候都能发生。这样，我就能在机会出现时牢牢抓住它。

期货中国25、现在不管是在美国还是在中国，使用电脑自动化交易（程序化自动交易）的人越来越多，您觉得电脑自动化交易和交易员手工交易哪一个更有优势？为什么？Michael Patak：程序交易一般是由交易员设计，并在程序员的帮助下完成的。因此，你首先必须是一名期货交易员才能理解你想用程序实施的策略。我认为在今天以及将来的市场，交易员需要学会与电脑共存。你必须首先是一名交易员才能设计出程序化交易策略或者直接交易策略，这样才能在市场中存活。关于中国期货中国26、在您的印象中，中国是一个怎样的国家？Michael Patak：我相信在中国有巨大的机会，也有很多没有被发现的人才。我们TopstepTrader的目标就是发掘人才并给他们实盘账户操作。我相信中国交易员对市场充满热情，也有牢固的职业操守。这两点是成为成功交易员所必须的特征。TopstepTrader非常希望能看到中国交易员能够展现他们的才能。

期货中国27、您是否欢迎中国的交易员到美国向您学习、与您沟通？Michael Patak：毫无疑问。我从来都对其他的观念保持开放的态度。我对交易充满热情，我也愿意与他人交流，从而使我的交易水平不断提高。

期货中国28、您是否期待到中国来，和中国的优秀交易员沟通、碰撞？Michael Patak：我去过离中国最近的地方是泰国，越南，和柬埔寨。我非常的兴奋地期盼有机会能访问你们美丽的国家，并与中国的顶尖交易员见面，讨论，和互相交流学习。我希望这样的机会很快会来到。

七禾网-期货中国网诚挚感谢Michael Patak的精彩回答、牛茵女士的精彩翻译

www.7hcn.com七禾网-期货中国网沈良提问、牛茵翻译2011-9-30

以下是英文问答原文Michael Patak：Patak Trading Partners CEO, TopStepTrader FounderMichael Patak has been a floor trader at the Chicago Board of Trade for over ten years, and is the founder and owner of TopstepTrader. Patak has been a member of Chicago Board of Trade since 2003, and is a registered member of the National Futures Association (NFA). Prior to founding TopstepTrader, Patak traded in the Dow Jones Futures pit for eight of his ten years on the floor, was a member of the Dow Jones pit committee, and was one of the highest-volume traders in the Dow Jones pit.Michael Patak is a graduate of the Iowa State, where he majored in Economics and Agriculture Business, with an emphasis on Commodity Pricing and Analysis and was a collegiate football player. Throughout college, Patak was an avid follower of the markets and began trading while still in school. From the age of twenty to twenty-two he lost $90,000 of his own money. That experience taught him the importance of having a system like the Combine.Upon his graduation, determined to become a futures trader, Patak began trading for Kottke Clearing firm at the CBOT. At the firm, Patak traded under very strict risk-parameters, which helped him hone his skills as a profitable, disciplined, and consistent trader. Through those principles, eight months later, he was successful enough to back himself; he bought a seat on CBOT trading floor, and began trading Dow Jones Futures.

About Michael Patak and Traders in general7hcn.com1: Dear Mr. Michael Patak, thank you for taking your time to accept the exclusive interview with China Futures. You have been a floor trader for more than 10 years. Why did you choose to become a trader? What do you think the biggest attraction of this profession is?Michael Patak：I wanted to be a trader since I was 16 years old when I found out that time was irrelevant on how much money you can make in the markets. Growing up in Nebraska the majority of people work by the hour and people judge other's success based on how much they make per hour. My initial lure to the markets was the fact that time was irrelevant and that personal success is based solely on your decisions. I enjoy being the master of my own destiny and think that is a strong appeal of futures trading as career and lifestyle.

7hcn.com2: You started trading in college and lost 90k of your own money. Have you ever doubted about yourself? What did you learn from that experience?Michael Patak：Losing humbles you and it helped to drop my ego; that was the greatest thing I learned from my experience. Yes I have doubted myself, but through experience I have learned to have unconditional confidence, and that prepares me for any market condition. This is something necessary for me to be successful, versus looking at each individual trade, I look at the big perspective to help learn and move forward.Also, because I lost so much money when I first started, it taught me the vital importance of having a program like the Combine to help traders learn to be consistently profitable while trading with discipline without having to risk tens of thousands of dollars in the live markets.

7hcn.com3: Are you looking for traders who are the same passionate about trading　as you are?Michael Patak：All traders have to be passionate to succeed in trading. If you don't have passion the market will weigh you down and suck the life out of you. Each day you have to be passionate about the markets and about trading to handle the ups and downs this business consistently throws at you.

7hcn.com4: Do you know any Chinese traders around you? How are they doing?Michael Patak：In the pit and at trading desks around the floor there are Chinese traders that I know and am friends with who are very successful at what they do. They have found this success by limiting themselves to one market, they are very disciplined and they do not over think each trade which as I stress is crucial to being a great trader.

7hcn.com5: Who do you think is/are the best trader(s)? Why do you admire him (them)?Michael Patak：The best traders are those who have passion for trading, discipline, and a great level of patience for the market. They anticipate and respond to the opportunity the market presents. I admire them and their methodology of trading as it helped me early in my career to understand the foundations of a consistent, profitable and disciplined trader and what it takes to be successful in this business.

7hcn.com6: What do you think of your standing among all traders in America at your current level?Michael Patak：What people need to understand is that trading is a personal journey. You should never judge your performance or your standing amongst others. That being said, I've been a trader on the floor for over 10 years and the last 8 of those years I traded on the “topstep” of the pit which is reserved for the best traders. I have consistently focused on my own journey and how I can become the best trader for myself, rather than focusing on others. That is what I stress to those in the Combine, you are competing with yourself to become the best trader possible.

7hcn.com7: Are you satisfied with your trading skills? How do you think you can improve your skills further?Michael Patak：Honestly, I am never satisfied with my trading performance; I always feel that I can improve and perform at a higher level. The thing I've learned is that the market is always evolving, so I am constantly focusing on improving my skills to adapt and maximize my performance. No one is a perfect trader, everyone must always work to continue to improve their knowledge, awareness, and trading aptitude.

7hcn.com8：The Trader profession has very high attrition rate. You survived and flourished. But many people have failed and are washed out by the market. What do you want to say these people?Michael Patak：What I would say to these people is trading is not meant for everybody; it is a very difficult business and it will challenge you emotionally and mentally, and it will suck the life out of you if you allow it. One thing that has pushed me through and has allowed me to survive in this business is having a passion for the markets and the drive to always better myself. Additionally, I would say to these people, ask yourself the question, “why do you want to be a trader and are you willing to put in the hard work?” Because if someone cannot confidently answer these questions this is likely not business or profession that is best suited for them.

7hcn.com9：Your motto is “We eat what we kill”. Who are your prey?  Are you the “wolf” in the market?Michael Patak：Trading is a business where you eat what you kill, that is just fact of the trading world. My personal motto is “unconditionally confident.” I feel someone must be unconditionally confident to be able to consistently look at the big picture, and to continue to learn and grow with the market rather than allow their confidence to be hindered by each losing trade. Losing trades are an ordinary and necessary part of the business and getting past those experiences has helped me to become unconditionally confident in my abilities.

7hcn.com10：Some traders are so addicted to trading that they have no other interest other than trading. Do you have any hobbies and interests?Michael Patak：It is very easy to become addicted to this market. You have to have hobbies and interests to be able “clock out” to enjoy other areas of your life or trading will consume you. My hobbies and interests are working out, running, reading, relaxing, and enjoying time with friends and family.

About Patak Trading Partner, TopStepTrader7hcn.com11：TopstepTrader scouts for the best trading talent globally, give them rigorous training and provide recruits with live accounts and attractive profit sharing plan. What is your purpose of doing this?Michael Patak：Our purpose of creating the Combine is to see who can trade TODAY'S market. As the market is always evolving this recruiting format allows us to see who is most in-tune with the market and who is consistently profitable while trading with discipline. Our Combine program allows us to find the traders who possess these skills and provide them with fully-funded live trading account.

7hcn.com12：There are thousands of people who want to become the top traders in the world. TopStepTrader has many recruits. How many people have participated so far? How many live traders have you selected from the Combine program?Michael Patak：We have many recruits that come into the Combine program whether to learn, develop or become a live trader. Recently we have selected at least two recruits a week to start trading on a live trading account. As our Combine pool increases so will the amount of traders we select to trade live.

7hcn.com13：What is the largest live account you have offered to the live traders?Michael Patak：All live traders start with a $50,000 futures trading account. It is up to that trader to build that account and as they build the account we give them more daily risk capital and allow them to trade larger size. This is the stair step or process to becoming a big trader. In the near future we are going to be adding the option to trade a $100,000 and $150,000 account both in the Combine and as a live trader. That being said though, if you can't trade a $50,000 account then you can't trade a $50 million account. Discipline and patience need to be apparent at all levels.

7hcn.com14：What percentage of gain has your best performing live account had among all the live traders you have selected?Michael Patak：With futures we do not look at percentage gain of the account, rather we look at over all performance of the trader. As futures are highly leveraged the percentage gain of your account is irrelevant. Someone may make a lot of money one week or one month, but if they cannot control their downside and do not exhibit consistency and discipline, that is going to be the exception to the norm for them because likely their losing weeks or months are going to greatly outweigh their profitable ones.

7hcn.com15：TopStepTrader’s recruits coming from all over the world. Which area has the better traders based on your internal evaluation?Michael Patak：I have not noticed one area that has more exceptional traders than other areas, as each different culture and individual performs different in the market and trades at different degrees. We are just now opening ourselves up to recruits out of Russia and China and are seeing a lot of promise in these areas with recruits who are showing strong profits. Regardless of location, traders who make money still need to learn how to manage and control their losses to maximize their ability.

7hcn.com16：For traders who have excelled in the live account trading, will they　be able to coming to America to work with you?Michael Patak：Yes, we offer the opportunity to live traders that are performing well. If a live trader is interested, they can be transferred to Chicago to begin trading from the Chicago Mercantile Exchange trading floor. We are always willing to accommodate a successful live trader because we have established a “win-win” relationship we want maintain. Otherwise, a trader can trade remotely from home for the entire length of his or her employment.

7hcn.com17：COMBINE program daily stop loss limit is set at $1000. Accelerated Combine daily stop loss limit is set at $500. Live account daily stop loss limit is also set at $500 in the beginning. Why do you set such restrict daily stop loss limit? What skills can the recruits learn from this training?Michael Patak：Our live accounts start at either $1,000 daily loss limit or $500 daily loss limit depending on the which Combine (four week or accelerated) the trader was in when he or she successfully met the objective. Also, as previously mentioned, we are in the process of creating custom Combines, which will allow recruits to trade a larger account with a bigger loss limit ($2,000 and $3,000), these options will be available on the website shortly.As for the $500 and $1,000 daily loss limit, we set these risk parameters to see how recruits manage their risk. All traders need loss limits; loss limits help a trader live to fight another day. This business is a marathon it is not a race. You will have winning days and you will have losing days. The idea is to cut your losses and let your winners ride. Our risk parameters allow just that, it allows our traders to cut their losses or to stop trading for the day when they are not seeing the market clearly and on days when they are trading well it allows them to maximize their opportunities.

7hcn.com18: Your training and live account requirements are all short-term oriented? Are you only interested in day-trader? Do you think these requirements may exclude traders who are better at swing trading and medium to long term trading?Michael Patak：We try to stress managing risk. The electronic markets are open almost 23 hours a day. We want traders to be flat the one hour of the day, because traders have no control over their position or risk if something in the world was to affect the market. We view trading into the close as unnecessary risk. That being said, we do allow traders to swing trade and hold positions once they are proven as a live trader and have built a cushion in his or her trading account. When first trading with us we are extra cautious to ensure the trader has control over his or her risk. Therefore, in the Combine or as a new live trader, the trader must be flat or 'net position zero' when the market is closed.

7hcn.com19:In the simulation training program, what type of support will TopStepTrader offer to recruits?Michael Patak：We offer a variety of live coaching services to help recruits gain a better understanding of the markets, themselves, and their trading style to maximize their trading ability and shorten their learning curve.In addition to the coaching, we provide weekly Market Therapy sessions with professional trading psychologists. Also, the TsT Live Squawk Radio and interactive trader chat room is also an incredibly beneficial tool for traders; the broadcast provide insight as to what is happening directly on the floor of the Chicago Mercantile Exchange, and in the chat room there are traders from all over the world and of all experience levels, so the insight and educational material passed through the room on a daily basis is phenomenal.These tools assist recruits into becoming a consistent, profitable and disciplined trader. Traders must be patient with the Combine process and allow for a personal journey and growth while in the program to reach their full potential, and be selected to go live.

7hcn.com20: In the simulation training program, what type of support will TopStepTrader offer to live traders?Michael Patak：When a trader begins trading live, he or she is in constant contact with senior level traders, who help them learn, develop and continually grow his or her trading account. Our interests lie in keeping a trader live and benefiting from shared profits, therefore our senior level traders will work with these individuals to ensure they do just that.

[/table]About trading aptitude, quality7hcn.com21: Generally speaking，what type of common traits or qualities the live trades who have successfully completed the combine program share?Michael Patak：The traders all share a deep passion for the markets, deep passion for personal growth, patience and extreme self-awareness. Most importantly being accountable of their actions and learning from them each and every day.

7hcn.com22: In order to become the top trader, do you think it depends on one’s talent or hard-working?Michael Patak：It is a combination of both, some traders are naturally gifted, but regardless it takes consistent hard-work to stay in-tune with the market and compete with other traders in the market place. This is something that all top traders know is a day to day challenge.

7hcn.com23: Can you please elaborate on the importance of discipline in trading?Michael Patak：Disciple is the foundation of a good trader. If you are not already a disciplined trader, and are not willing to put in the hard work required to become disciplined in the market place, then this is not the business you want to enter. Discipline allows a trader to accept losses, maximize opportunities and learn from good and bad days. Discipline allows you to weather any market condition and as a trader conditions are always changing. Focusing on your discipline, not letting emotion take control, and learning how to anticipate market behavior rather than getting lost in the noise, will keep you in the trading game.

7hcn.com24: In today’s financial markets, all kinds of information could cause market volatility? How do you handle unexpected events?Michael Patak：I handle unexpected events by being prepared and in-tune with the market, and recognizing that these events can happen at any time. If I am in-tune with the market that I am trading and adequately prepared for any type of event I will be able to maximize the opportunity as it presents itself.

7hcn.com25: Nowadays, more and more people switched to program-trading whether in US or in China. Which one do you think is more advantageous, program-trading or discretionary trading? Why?Michael Patak：Program trading is usually designed by traders with the help of programmers. You must first be a trader to understand a strategy you want to implement into a program. I believe that traders need to co-exist with the computer in today's market and going forward. But in the end you must be a trader to design a strategy for computer based trading or implement your own discretionary trading to survive in this market.

About China7hcn.com26: What is your impression on China?Michael Patak：I believe there are huge amounts of opportunity and untapped talent in China. It is TopstepTrader's goal to mine for trading talent and place them on a live trading account. I believe that Chinese traders have a large amount of passion for the markets and I also believe they have an extremely solid work ethic. Both of these characteristics are keys to becoming a successful trader. TopstepTrader is excited to see the level of talent that will surface from China.

7hcn.com27: Do you welcome Chinese traders to come to US to exchange ideas and learn from you?Michael Patak：Without a doubt, I'm always open to learning from others on their view of the market. Since I am passionate about trading I am always open to learning from others and exchanging ideas to better my trading as well as theirs.

7hcn.com28: Are you looking forward to coming to China to meet with Chinese top traders?Michael Patak：Thailand, Vietnam and Cambodia are the closest I have come to China. I am extremely excited and look forward to having the opportunity to visit your beautiful country to meet, discuss, and learn more from the top Chinese traders. I hope this opportunity comes sooner rather than later.

www.7hcn.com Futures China[table=98%]

Questions by Liang Shen, Translated by Yin Niu2011-9-30