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Replace Your Income with Options - Michael Patak: WHY Trading Discipline is Foundational to Success, Ep #29

Michael Patak: WHY Trading Discipline is Foundational to Success, Ep #29

10/08/20 • 25 min

Replace Your Income with Options

Subscribe to How To Trade It
The failure rate of people who dive right into the market is fairly high. Why? Because new traders don’t have the discipline necessary to succeed. New traders need a safe place to hone their skills and craft their strategies. Michael Patak’s mission is to provide a safe experience so traders can professionalize their passion. In this episode of How To Trade It, we talk about Michael’s journey and what he believed solidified his career in trading. We also talk about his firm—TopstepTrader—and how they’re helping new traders develop trading discipline.

You’ll want to hear this episode if you are interested in...

  • [2:34] What is Michael Patak’s “Why”?
  • [3:31] Where Michael’s passion for trading began
  • [6:00] How Michael turned things around
  • [11:33] Michael’s next steps in his trading journey
  • [14:33] Why Michael decided to teach + trade
  • [16:18] The details on TopstepTrader
  • [20:45] Learn more about TopstepTrader

Resources & People Mentioned

Connect with Michael Patak

Connect With Casey Stubbs

Subscribe to How To Trade It

Grab your copy of the Complete Trading System This book teaches you how to build a trading system from the ground up and how to become profitable in the markets.

Support the show

Get your Roadmap: https://www.findbettertrades.com/replace-income

https://caseystubbs.substack.com

https://x.com/caseystubbs

t.me/caseystubbstrading

https://www.youtube.com/@FreedomIncomeOptions
https://www.linkedin.com/in/caseystubbs/

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Subscribe to How To Trade It
The failure rate of people who dive right into the market is fairly high. Why? Because new traders don’t have the discipline necessary to succeed. New traders need a safe place to hone their skills and craft their strategies. Michael Patak’s mission is to provide a safe experience so traders can professionalize their passion. In this episode of How To Trade It, we talk about Michael’s journey and what he believed solidified his career in trading. We also talk about his firm—TopstepTrader—and how they’re helping new traders develop trading discipline.

You’ll want to hear this episode if you are interested in...

  • [2:34] What is Michael Patak’s “Why”?
  • [3:31] Where Michael’s passion for trading began
  • [6:00] How Michael turned things around
  • [11:33] Michael’s next steps in his trading journey
  • [14:33] Why Michael decided to teach + trade
  • [16:18] The details on TopstepTrader
  • [20:45] Learn more about TopstepTrader

Resources & People Mentioned

Connect with Michael Patak

Connect With Casey Stubbs

Subscribe to How To Trade It

Grab your copy of the Complete Trading System This book teaches you how to build a trading system from the ground up and how to become profitable in the markets.

Support the show

Get your Roadmap: https://www.findbettertrades.com/replace-income

https://caseystubbs.substack.com

https://x.com/caseystubbs

t.me/caseystubbstrading

https://www.youtube.com/@FreedomIncomeOptions
https://www.linkedin.com/in/caseystubbs/

Previous Episode

undefined - Michael Filighera’s Take on Mini & Micro Futures Trading, Ep #28

Michael Filighera’s Take on Mini & Micro Futures Trading, Ep #28

Subscribe to How To Trade It
Michael Filighera started trading on the Pacific Exchange in 1979. He has been a professional trader for 40+ years. His journey started when he was taking classes at the Chicago Conservatory of Music. During breaks in classes, he would walk to the Chicago Board of Trade and watch them trade. He was fascinated.

After he graduated he moved back to San Francisco, where a friend invited him to the Options Market-Maker trading floor. Michael was attracted to the energy he felt from the traders. When his friend asked him to become his clerk, he quickly pointed out that he only had experience with music. But his friend emphasized that music is the same. Music breaks down into numbers and trading is about the numbers. Michael became a trader and never looked back.

Listen to this episode of How To Trade It to hear his story, his trading strategy, and learn about his love for teaching.

You’ll want to hear this episode if you are interested in...

  • [0:26] Michael’s transition from music to trading
  • [7:15] Why Michael loves working with beginners
  • [10:39] What Michael trades and why
  • [12:05] Michael’s recommendations for beginners
  • [18:23] The importance of measurements
  • [24:18] How to connect with Michael

Resources & People Mentioned

Connect with Michael Filighera

Connect With Casey Stubbs

Subscribe to How To Trade It

Grab your copy of the Complete Trading System This book teaches you how to build a trading system from the ground up and how to become profitable in the markets.

Support the show

Get your Roadmap: https://www.findbettertrades.com/replace-income

https://caseystubbs.substack.com

https://x.com/caseystubbs

t.me/caseystubbstrading

https://www.youtube.com/@FreedomIncomeOptions
https://www.linkedin.com/in/caseystubbs/

Next Episode

undefined - WHY Lou Basenese Believes You Should Leverage Micro-caps, Ep #30

WHY Lou Basenese Believes You Should Leverage Micro-caps, Ep #30

Subscribe to How To Trade It
How do you get an edge in today’s market? What market is the best bang for your buck? Lou Basenese believes you can find your edge in micro-caps. But what do you buy? How do you find opportunities? And when should you buy them? In this episode of How To Trade It, Lou lays out his strategy + shares an upcoming program launch you don’t want to miss. Check it out!

You’ll want to hear this episode if you are interested in...

  • [0:53] Lou’s background in trading
  • [1:41] How to get an edge in today’s markets
  • [4:04] Look for a catalyst on the horizon
  • [6:50] Lou’s asset allocation embraces micro-cap stocks
  • [8:37] Finding opportunities in crisis
  • [14:26] The Microcap Advantage
  • [18:42] How to find catalysts in the market
  • [20:07] Lou’s advice for the skeptics
  • [22:31] Lou’s risk-management strategy
  • [24:49] How to take advantage of a great opportunity

Resources & People Mentioned

Connect with Lou Basenese

Connect With Casey Stubbs

Subscribe to

Grab your copy of the Complete Trading System This book teaches you how to build a trading system from the ground up and how to become profitable in the markets.

Support the show

Get your Roadmap: https://www.findbettertrades.com/replace-income

https://caseystubbs.substack.com

https://x.com/caseystubbs

t.me/caseystubbstrading

https://www.youtube.com/@FreedomIncomeOptions
https://www.linkedin.com/in/caseystubbs/

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