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Michael Patak Podcasts

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8 of The Best Podcast Episodes for Michael Patak. A collection of podcasts episodes with or about Michael Patak, often where they are interviewed.

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8 of The Best Podcast Episodes for Michael Patak. A collection of podcasts episodes with or about Michael Patak, often where they are interviewed.

Updated daily with the latest episodes

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Why Now is the Time to Get into Retail Trading with Michael Patak

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Since its heyday in the 80s, retail trading hasn’t been hugely popular. But now, especially in the last two months of market fluctuations, retail trading seems to be entering a new golden age. It wasn’t even the pandemic that got this ball rolling, Younger generations have been dipping their toes in the industry ever since the boom of crypto.

This week on Limit Up! we’re joined by TopstepTrader’s very own founder and Chief Visionary Officer Michael Patak. Michael chatted with Jack and Dan about why retail trades are suddenly so lucrative as well as some strategies he employs to trade successfully. Stay tuned for reflections on the market and a discussion on what’s going on with Boeing and Hertz.

  • [00:40] - This week: Michael Patak
  • [01:33] - Market Reaction
  • [04:43] - Interview with Michael Patak
    • [04:43] - Crypto renaissance
    • [07:49] - Retail wash-out
    • [11:21] - Pros and cons of asset classes for retail traders
    • [27:08] - Let the trade play out
    • [29:50] - Getting into a more sophisticated class or product
    • [32:50] - Order flow and range
    • [36:16] - Level acceptance
    • [41:03] - The other side of the trade
    • [43:35] - Baptism by fire

Michael Patak is the Founder and Chief Vision Officer of TopstepTrader and the Co-Founder of mobile trading platform BLUECHXP. Prior to founding TopstepTrader, Michael was a trader for several years.  In 2015 he was a semi-finalist and in 2016 a finalist for the Ernst & Young Entrepreneur of the Year Award. In 2017, Inc. Magazine ranked TopstepTrader No. 1,261 on its 36th annual Inc. 5000. You can find Michael on his own Instagram and he makes frequent appearances on the TopstepTrader Instagram account.

Limit Up! is a podcast for traders of all levels brought to you by TopstepTrader. Whether you’re considering a career in trading and don’t know where to start, or you’re a seasoned veteran looking for advice from big names in the financial industry, Limit Up! is your guide. Join us weekly as we discuss the market in all of its volatile glory.

Jack Pelzer is a co-host of Limit Up! He traded as part of a U.S. Treasury group for 7 years at Chopper Trading and DRW. After leaving the industry, he became a Writing Fellow and Senior Contributing Writer for The Onion. He is now the Head of Content at Topstep.

Dan Hodgman is a co-host of Limit Up! Prior to coming to Topstep Dan traded 30 Yr Treasury Options and Yield Spreads. Before that, he served in the United States Marine Corps where he simultaneously managed his own Futures Account applying the skills he grew up learning from clerking on the trading floor. Now Dan works with the Traders here at Topstep as a Performance Coach as well as being a regular on the Daily Market Recap.

If you'd like to receive new episodes as they're published, please subscribe to Limit Up! in Apple Podcasts, Google Podcasts, Spotify, or wherever you get your podcasts. If you enjoyed this episode, please consider leaving a review in Apple Podcasts. It really helps others find the show.

Podcast episode production by Dante32.

May 28 2020 · 51mins
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Bear Markets, Crypto and Humility with TopstepTrader Founder Michael Patak

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Last month, we decided to bring on our Founder and Chief Vision Officer Michael Patak to talk about his origins as a trader, the founding of TopstepTrader and his experiences being deep in the pit. This is part 2 of Jeff’s interview with Michael. If you missed part 1, make sure to check it out here

In this episode, Jeff and Michael cover the humility and EQ required to be a successful trader. Next, they cover memorable trades and swap a few war stories from deep in the pit. Finally, no trading discussion is complete without bringing up crypto. Find out what Michael thinks about crypto in relation to his bread & butter, forex.

Have thoughts about this episode? Don’t forget, we want to hear from you! We’re rolling out a new call-in line for listeners of the show, so be sure to give us a call at 855-902-0331 and let us know what’s on your mind.

  • [00:31] - This week: Michael Patak part two
  • [01:28] - MARKet Reaction with Mark Meadows
  • [03:00] - Michael Patak introduction
  • [03:22] - Jeff Carter Interview with Michael Patak
    • [03:22] - Having a speed edge in the pit
    • [04:51] - Do you recommend that a five-lot trader scale into and out of trades?
    • [06:32] - If the market is boring do you increase or decrease your size?
    • [07:32] - Do you feel like you have to be right?
    • [07:52] - After a losing streak how long would you walk away from the market before you came back?
    • [10:19] - What happens if the market goes the way you wanted after hitting your stop?
    • [11:03] - Memorable trades
    • [19:52] - Do you see any particular markets as having more outsize opportunity than others?
    • [20:32] - Have you looked at markets that might have more opportunity where others may be dead?
    • [21:30] - If I became proficient in one market, but then it died, could I take those same skills to another?
    • [22:06] - Are there any markets in the futures and forex space that don't lend themselves to smaller size traders?
    • [26:37] - Yra G. Harris Notes From The Underground 
    • [27:38] - The markets are limitless
    • [28:57] - So you've seen a bear market?
    • [30:47] - Last parting words

This episode of Limit Up! is hosted by Jeff Carter. Jeff is a general partner at West Loop Ventures. In April of 2007, he co-founded Hyde Park Angels and spearheaded the growth and development of one of the most active angel groups in the United States. He has consulted on the startup of several other angel groups. He is a former independent trader and member of the CME Board of Directors and was part of a small group that transformed CME from an open outcry exchange to the largest electronic exchange in the world. In 1998, CME was worth $182,134,000 in membership enterprise value.  Today it’s worth $55 Billion.

If you'd like to receive new episodes as they're published, please subscribe to Limit up! in Apple Podcasts, Google Podcasts, Spotify or wherever you get your podcasts. If you enjoyed this episode, please consider leaving a review in Apple Podcasts. It really helps others find the show.

Podcast episode production by Dante32.

Aug 22 2019 · 33mins
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Trading with No Limits with TopstepTrader Founder Michael Patak

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Today’s guest is a special one for Limit Up! as part of our birthday celebration this month, we thought it would be a great time to bring on our Founder and Chief Vision Officer Michael Patak. Michael takes us through his beginnings as a trader, his experiences being deep in the pit. Jeff and the differences trading on a screen. Finally, hear how Michael started TopStepTrader with a community focus and how, at its heart, the company is focused on making the individual trader feel a part of that community. 

This is a great conversation between two-battle tested veterans of the trading world. UPDATE: And if you'd like to hear the rest of the discussion, be sure to check out Episode 91: Bear Markets, Crypto and Humility. 

BTW, as we mentioned above, this month is TopstepTrader’s 7th birthday! We’re going to be celebrating the only way we know how: by giving you all some amazing gifts! So join us for the celebration and stayed tuned for more info about our birthday extravaganza!

Have thoughts about this episode? Don’t forget, we want to hear from you! We’re rolling out a new call-in line for listeners of the show, so be sure to give us a call at 855-902-0331 and let us know what’s on your mind.

  • [00:31] - This week
  • [01:35] - TopStepTrader 7th Anniversary
  • [02:25] - MARKet Reaction with Mark Meadows
  • [04:06] - Jeff Carter Interview with Michael Patak
    • [04:42] - Where were you on the floor?
    • [06:00] - What interested you in trading?
    • [08:23] - Why did you choose Dow over all the other pits?
    • [08:53] - Do you feel like that market fit your personality?
    • [09:58] - What did trading in the pit teach you that you can't learn on a screen?
    • [12:08] - When you were trading what would limit your upside?
    • [14:54] - Did you make the jump to trading on the screen?
    • [16:35] - How do you manage the volatility difference between the screen and the pit?
    • [17:33] - Do you find that having the pit experience impacts you on the business side of trading?
    • [18:50] - How are you taking the trading floor community approach and applying it to TopStepTrader?
    • [20:13] - What are you doing at TopStepTrader to make me feel like I'm not on an island by myself?
    • [22:32] - What do you want TopStepTrader to become?
    • [24:28] - What keeps you up at night?
    • [26:05] - Do you have a lot of ex-pit traders that have come on to your platform?
    • [27:42] - Where do you see the opportunities for people on TopStepTrader?
    • [29:19] - What is the culture like working at TopStepTrader?
    • [31:40] - How do you celebrate success and handle failure within the company?
    • [35:44] - Did TopStepTrader raise venture capital?
    • [36:55] - Do you find recruiting in Chicago better or not as good as other places?
    • [38:02] - Do you have a rewards program to bring in new employees?

Michael Patak is the Founder and Chief Vision Officer of TopstepTrader and the Co-Founder of mobile trading platform BLUECHXP. Prior to founding TopstepTrader, Michael was a trader for several years.  In 2015 has was semi-finalist and in 2016 a finalist for the Ernst & Young Entrepreneur of the Year Award. In 2017, Inc. Magazine ranked TopstepTrader No. 1,261 on its 36th annual Inc. 5000. You can find Michael on his own Instagram and makes frequent appearances on the TopstepTrader Instagram account.

This episode of Limit Up! is hosted by Jeff Carter. Jeff is a general partner at West Loop Ventures. In April of 2007, he co-founded Hyde Park Angels and spearheaded the growth and development of one of the most active angel groups in the United States. He has consulted on the startup of several other angel groups. He is a former independent trader and member of the CME Board of Directors and was part of a small group that transformed CME from an open outcry exchange to the largest electronic exchange in the world. In 1998, CME was worth $182,134,000 in membership enterprise value.  Today it’s worth $55 Billion.

If you'd like to receive new episodes as they're published, please subscribe to Limit up! in Apple Podcasts, Google Podcasts, Spotify or wherever you get your podcasts. If you enjoyed this episode, please consider leaving a review in Apple Podcasts. It really helps others find the show.

Podcast episode production by Dante32.

Jul 26 2019 · 40mins
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Humility & Spirituality in Leadership with Michael Patak & Gaye van den Hombergh

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In the latest episode of Flourishing Together, Raman sits down with Michael Patak, CVO of TopstepTrader, to talk about his journey from trader to founder/CEO and why he ultimately decided to step down as CEO. They discuss leadership, spirituality and the vulnerability critical to Michaels success.

Raman then sits down with Gaye van den Hombergh, Sr. Consulting Partner at Partners in Leadership. They have a frank conversation about the role of weakness in ones life, the privilege of choice how she’s definite leadership throughout her career.

Finally, the episode closes with some closing reflections from Raman and the role he sees religion and spirituality plays in achieving more openness.

  • [00:23] Conversation with Junto alumnus Michael Patak, Chief Vision Officer of TopstepTrader
    • [02:12] First recollection of leadership
    • [03:47] Vulnerability and humility in the trading world
    • [06:49] Role of religion and spirituality in life 
    • [09:09] Connecting company core values and personal spirituality 
    • [10:29] Experience stepping down as CEO 
    • [14:01] Women as a key part of TopstepTrader’s history 
    • [16:57] Lessons learned about leadership 
    • [18:08] Being the one to hold the vision 
    • [20:25] Impact on personal and family life 
    • [22:23] Closing  appreciations
  • [23:33] Conversation with Junto mentor  Gaye van den Hombergh, Senior Consulting Partner with Partners in Leadership
    • [24:59] First recollection of leadership
    • [30:05] Thoughts on social awareness and empathy 
    • [31:21] Reframing weaknesses as limits 
    • [32:44] Accountability 
    • [34:32] ‘I get to’ vs ‘I have to’ -- The privilege of choice 
    • [36:16] "In our response lies our growth and our freedom." - Viktor Frankl, Man's Search for Meaning 
    • [37:15] Changing the culture in large companies 
    • [40:58] Defining leadership 
    • [42:05] Closing appreciations
  • [42:57] Raman’s closing reflections 
    • [43:03] - Humility 
    • [44:00] - Religion and spirituality as drivers of openness 
    • [47:07] - Women in leadership 
    • [50:00] - Results being a lagging indicator -- focus on people 
The Junto Institute runs a structured, designed Apprenticeship Program that is built on deep mentorship, emotional intelligence training, and teams learning together. Originating in 2012 in Chicago, IL, over 30 companies have participated in the Junto Apprenticeship program.
If you'd like to receive new episodes as they're published, please subscribe to Flourishing Together in Apple Podcasts, Google Podcasts, Spotify or wherever you get your podcasts. If you enjoyed this episode, please consider leaving a review in Apple Podcasts. It really helps others find the show
Episode produced by www.dante32.com.
May 24 2019 · 52mins
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Taking Trading from Passion to Profession - Michael Patak

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Taking your trading from passion to profession is definitely not easy. It requires discipline, patience and a strategy - three things that TopstepTrader helps you hone in real-time markets. In this episode of Limit Up, host Eddie Horn talks with TopstepTrader founder Michael Patak about how 500+ traders have earned TopstepTrader's capital to trade this year. Eddie and Michael talk about how TopstepTrader was founded, some highlights from funded traders, and how you can take your trading from passion to profession. Provide feedback to limitup@topsteptrader.com.

Jun 29 2018 · 27mins
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Turning $90K in Losses into a Trading Career - Michael Patak (Rebroadcast)

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After blowing up three trading accounts for a total of $90,000, Michael Patak finally got serious about his trading. He went on to trade Dow Jones Industrial Average futures as a local on the CBOT floor before starting TopstepTrader. In this episode, first broadcast in November, Michael talks about his journey learning how to be profitable trading and the aha moment that led to TopstepTrader. For more, go to www.topsteptrader.com.

Mar 06 2018 · 55mins
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Lessons from $90k in Losses - Michael Patak

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Michael Patak is a floor trader turned entrepreneur who created TopstepTrader, a place where traders can safely engage in financial markets. After blowing up three trading accounts for a total of $90,000, he finally got serious and learned to trade profitably on a simulator. He went on to trade Dow Jones Industrial Average futures as a local on the CBOT floor before starting TopstepTrader. In this episode, he talks about his journey learning how to be profitable trading and the aha moment that led to TopstepTrader. In the TopstepTrader program, traders prove they can profit and manage risk in a real-time trading simulator. If traders meet the profit objectives while following the risk controls, TopstepTrader will fund them with $30,000 to $150,000 in buying power. For more, go to www.topsteptrader.com.

Nov 15 2017 · 55mins
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TopStep Trader founder Michael Patak

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TopStep Trader founder and CVO Michael Patak joins the show with host Scott Kitun.
Nov 01 2017 · 20mins