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FT71 www.futurestrader71.com review

  #14 (permalink)

Elite Member
Chicago, IL. USA
Trading Experience: Advanced
Platform: IRT
Broker/Data: Stage5/IQ Feed
Favorite Futures: ES
Posts: 32 since Oct 2011
Thanks: 22 given, 67 received

FT71: Real Deal

I had studied MP back when it was only TPO based in the mid 1980's with Pete Stedilmier and abandoned it but with the addition of Tick Volume it changed the game.

Auction Theory is where it is at for me and the profile lets me see where areas of interest are developing on an interday basis and as FT71 has done so well is develop longer timeframe composites to see where these areas of activity were on the longer timeframe.

The idea is that if a price level was important to the OTF traders (Bg $) in a past auction will they show up again at that same area... This allows for defining areas of interest where there has been a confluence of OTF behavior..

FOr me it has allowed me to have a better understanding of price discovery, rotations and how a market is drawn to test other price areas... either extremes that were rejected or Areas of high volume or acceptance.

MY trading improved signifigently when I reduced the number of trades and waited for the market to come to me and then positioned at critical areas. In addition I can see viable targets where the market will go on a interday as well as multi day basis.

I trade ES primarily right now, trade with targets and understand at least for me that I always want to be aligned with the OTF..

MP always made sense logically and it explained something I had learned before MP but gave it a language. Seeing price discovery as an auction process rather then an indicator based process helped me a lot.

I do use some indicators but quite often they create conflict with what I read in the market.

IN closing, I believe everyone can benifit from FT71 perspective to understand how the market functions and why it behaves the way it does.


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