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Webinar: FuturesTrader71 (FT71) on Volume Profile
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Webinar: FuturesTrader71 (FT71) on Volume Profile

  #41 (permalink)
Site Administrator
Manta, Ecuador
 
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futuretrader View Post
I've now seen a lot of his webinars, and I think this was his best presentation of his method.

I thought so too.

As for his next webinar, we will be working on ideas and I'll post in the usual spots once we have an outline.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
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2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
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4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
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  #42 (permalink)
Elite Member
La Jolla, CA
 
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Big Mike View Post
@Private Banker, can I ask if you watched the webinar -- and if so, what did you think? I ask because I know you incorporate a lot of the same ideas.

Mike

OK, I had a chance to watch this webinar. I really like that you have a futures.io (formerly BMT) channel on Youtube. It's nice to just watch this on my TV and sit back in a chair vs. watching on a computer.

I would agree that we both utilize some sort of game plan before walking into every trading session. This was one of the points I was trying to stress earlier in Day trading CL without indicators thread. FT hit it right on the head though. Struggling traders go into every trading session with nothing to back up on. No game plan, just looking for a price pattern or a fib level or a moving average or whatever the indicator du jour is and forcing trades all day with essentially no frame of reference.

When I was in the biz, we had to share our trading ideas and trade intentions with either our manager or mentors when first starting out. We had to explain the rational and build a story around why we think the market will do this or that based on your research. Had I started the day just taking random trades, I probably would've been thrown out of there or had my butt chewed out in front of everyone which is really embarrassing.

You have to have a game plan for what you're going to do based on what the market is telling you. Like FT said, this should already be embedded in your mind so that when you sit down in your chair and you see what the market is doing, it should only be about execution at that point.

What I thought was interesting was FT appears to be looking for absorption on his entry areas just as I do but we appear to do it slightly differently. It looks like he uses his DOM with the volume profile whereas I use the Volume Ladder as I was to see the trades hitting the area I'm looking to get in at. Essentially doing the same thing. I just stopped staring at the DOM as much because of the HFT nonsense. I still look at it but it's more in a way of watching the energy of the orders going through vs. watching for absorption. I think it's important to use a DOM because of the added vision on the order depth. I really can't understand why or how people use a Chart Trader. I use X_Trader for OE so that isn't even an option for me but I think disregarding the book's depth is a big mistake.

Anyway, I thought it was a great presentation and extremely valuable for all traders.


Last edited by Private Banker; April 22nd, 2012 at 11:57 PM. Reason: typo
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  #43 (permalink)
Elite Member
Tulsa, OK
 
Futures Experience: Beginner
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FT71 + BMT = Peanut Butta Jelly Time :)



Big Mike View Post
For those who watched the entire webinar, what did you think?

Mike

First of all, at about 00:00:23 into the video, I checked my phone but there was no text message to read

As for the remaining 02:08:00 and change, awesome stuff. As usual Like everything else FT71 pours himself into, his webinars just keep getting tighter, packing more punch. He always cracks me up when he prefaces it with something like, "Let's see if we can avoid making this a feature-length ..." If you let him, he'd talk shop until the Interwebz runs out of lolcats. And that's awesome, that's what I want to see.

Something I think might get glossed over sometimes is how agnostic FT71 is about trading methodologies. Sure, he speaks mostly from his methodological perspective, but he'll be the first one to tell you everything can work. He's mentioned before about a trader he knew who profitably traded lunar cycles. It matters a lot less to FT71 what method you use than how you treat your trading business. Just a very cool aspect to his approach that sometimes gets lost in the mix.

I'm also not convinced people truly grasp what a HUGE thing he is doing with his brokerage. He's like the anti-broker broker. Anyone else have a professional trader as their broker call them up and say, "Hey, I saw your last few trades and they don't match up with the trading plan you posted so I need you to agree to switch to SIM. If you agree, I'll go ahead and shut you off, put your stuff on liquidate only, and activate your SIM account." Are you kidding me? Just about every other broker seems to take the approach that traders should thank brokers for letting them trade and trade and trade. Okay, I'll stop there. I feel some Jerry Maguire mission statement type stuff bubbling, so I'll leave it at that. It's a very cool thing FT71 is doing for his clients.

Good stuff, Mike, thx for making it happen. Now, keep it coming

Luck is what happens when preparation meets opportunity. ~ Seneca
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  #44 (permalink)
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Appreciate how FT71 makes it clear that he respects everyones time, he could easily convey the same information but talk for 6 hours. I have gone through his 4 part webinar series and it was well worth the time and money (yayyy charity).

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  #45 (permalink)
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omni72 View Post
First of all, at about 00:00:23 into the video, I checked my phone but there was no text message to read

[offtopic]

I am a fan of Dexter My ringtone is Game of Thrones.

[/offtopic]

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
 
  #46 (permalink)
Elite Member
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futuretrader View Post

Perhaps you could convince him to do one focused on reading the DOM next time?

That would be great! Though he has done a webinar about DOM reading it would be interesting to explain it in a detailed manner how he reads the DOM when he is willing to take a trade in his area of interest. Perhaps he could cover this point in his next webinar too?

Malvolio

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  #47 (permalink)
big mike
Silverthorne, CO
 
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I really liked this webinar. I have been room member of tom alexander and have been learning auction market principles in his webinars and trade room for about 2 years now. I think that it it beneficial for me to check other sources of this methodology of market auction, like FT71, because there is slightly different approach, also some extra tools can differ and eventually it all fits in the picture - like the puzzle...in the end one will make his own approach using the basic foundation of market auction; it is just good to see how others are doing it. Looking forward to see nex FT71 presentation.

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  #48 (permalink)
in a meditative state...
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This was the best webinar I ever saw. You cannot go further in detail than that... well perhaps through a lobotomy...

I'm in favor of a DOM webinar but for that to work properly it needs to be in real time, on the fly, as it comes. No recorded or playback stuff.

Having said that and knowing that it would be almost impossible for him to give an hour of his trading day to us, mere mortals , maybe instead of a full webinar, he could just record 1 hour during market hours, with a SIM account, and explain in real time what he's seeing, what he's thinking and then publish it here.

Nevertheless, I'm counting the days for the next one

Maybe every Saturday we could do a webinar. I cannot think a better way to spend my Saturday night (dinner time here). Well, actually I do, but that is for after the webinar

If I become half a percent smarter each year, I'll be a genius by the time I die
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  #49 (permalink)
Site Administrator
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I have received tons of emails from the 'request for feedback' on the FT71 webinar, just want to say thanks to everyone for sharing their feedback. I am glad everyone has really enjoyed and benefited from this webinar.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following user says Thank You to Big Mike for this post:
 
  #50 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,238 since Jun 2009
Thanks: 29,350 given, 83,219 received



Private Banker View Post
OK, I had a chance to watch this webinar. I really like that you have a futures.io (formerly BMT) channel on Youtube. It's nice to just watch this on my TV and sit back in a chair vs. watching on a computer.

I started doing this for all non-Elite webinars. I am still working on technical stuff for better way to handle Elite webinars, while preventing piracy.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote

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