Webinar: FuturesTrader71 (FT71) on Volume Profile - Traders Hideout | futures io social day trading
futures io futures trading


Webinar: FuturesTrader71 (FT71) on Volume Profile
Updated: Views / Replies:18,484 / 80
Created: by Big Mike Attachments:1

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 1  
 
Thread Tools Search this Thread
 

Webinar: FuturesTrader71 (FT71) on Volume Profile

  #51 (permalink)
Membership Revoked
British Columbia
 
Futures Experience: Advanced
Platform: NINJA
Broker/Data: ZEN
Favorite Futures: Crude
 
Posts: 1,091 since May 2010
Thanks: 192 given, 484 received

FT71's webinar was great, making a note to watch it again soon.... the webinar section is very good, thanks a lot to everyone, can't wait for FT71's next one!

Reply With Quote
 
  #52 (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, 83,220 received


Private Banker View Post
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.

I think this is key.

Over the last couple years I have found that I have continued to step back further and further from my trades, using bigger time frames, bigger charts, bigger targets, bigger stops and really just focusing on the bigger picture.

These days I can't imagine trading any other way. The smaller stuff just makes no sense to me any more. I get into heated debates with some trading friends about this

Part of my thinking is that I believe you have to step back in order to really have a shot at going into each session with a plan for what the market may do today. This has become a very important part of my trading. Where I used to "wing it" based on what the market threw at me and how that interacted with components of my chart like moving averages or pivots, these days I have almost nothing left on my chart for interaction on any kind of an intraday or short term level, and instead focus much more on daily charts and bigger picture moves.

I find it much more relaxing to trade this way, and much more profitable as well. I dare to use the word "easier".

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 8 users say Thank You to Big Mike for this post:
 
  #53 (permalink)
Market Wizard
Switzerland
 
Futures Experience: Intermediate
Platform: Investor/RT
Broker/Data: IB / DTN
Favorite Futures: Futures
 
Posts: 4,128 since Feb 2012
Thanks: 3,780 given, 7,650 received
Forum Reputation: Legendary



arnie View Post
...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.

1) You can follow FT71 on twitter during market hours - he is giving additional information on how
he sees the market developing.
2) For customers of his brokerage there is a closed user room (I am not a client yet)
3) On FuturesTrader71 | Simplicity in Trading you can find extra webinars he was recording before or during
market hours to discuss special aspects of trading with brokerage clients.
All very helpful!

GFIs1

Reply With Quote
 
  #54 (permalink)
in a meditative state...
Portugal
 
Futures Experience: Advanced
Platform: Multicharts, Jigsaw
Broker/Data: Stage5, OEC
Favorite Futures: Treasuries
 
arnie's Avatar
 
Posts: 801 since May 2010
Thanks: 709 given, 976 received


GFIs1 View Post
1) You can follow FT71 on twitter during market hours - he is giving additional information on how
he sees the market developing.
2) For customers of his brokerage there is a closed user room (I am not a client yet)
3) On FuturesTrader71 | Simplicity in Trading you can find extra webinars he was recording before or during
market hours to discuss special aspects of trading with brokerage clients.
All very helpful!

GFIs1

Yes, I know.

I donated to his 4 webinars.
FT has become a true "life changer" in terms of trading.

I've always been a volume freak. Since the beginning volume made sense to me but I was never able to figure out the best way to read it. Naturally that we all begin with the vertical histogram but that with time starts to linger...

Then I saw volume horizontal histogram and I thought, this makes much more sense to me, but was back in the days where these tools were only available to top traders and I was still working with Metastock.
Years latter a friend of mine presented Multicharts when I decided to move to daytrading and that was another world, but then again, still no way to have a true volume reading.

Again, years later, I discover futures.io (formerly BMT) thought Multicharts forum and then Fulkrum Trader and his Delta reading. It was an interesting way to read volume, specifically bid and ask volume which I started to get interested on since, again, made perfect sense to me. When I decided to test IRT to my disbelieve there it was, a horizontal volume histogram totally customizable. I finally had the tool I so long waited for. Naturally that I later found that this tool was already available through other 2 affordable programs, but it was one of those cases that you only start to see things after you purchase them.

Since then I've been trying to add my strategy to volume profile but only after starting to follow FT I was able to see the "light in the end of the tunnel".

Daytrading without homework is a death sentence. Daytrading what the market is giving us at that moment without background support has been proved to be as trying to walk with your eyes folded. You can, but you might fall into a hole difficult if not impossible to get out.

I always considered trading a process. Each year you learn new stuff, change the way you see things, adapt to new conditions, an endless stage of learning. With FT I entered in a new stage...

Thank you.
Regards.

If I become half a percent smarter each year, I'll be a genius by the time I die
Reply With Quote
The following user says Thank You to arnie for this post:
 
  #55 (permalink)
Membership Revoked
British Columbia
 
Futures Experience: Advanced
Platform: NINJA
Broker/Data: ZEN
Favorite Futures: Crude
 
Posts: 1,091 since May 2010
Thanks: 192 given, 484 received

Which part was the key? The time frame of trading or being comfortable with the time frame you are focussed on. I've got a good thing going now scalping for less than ten ticks and getting into the hft game, as they say, if you can't beat em join em. What I really took away from FT71's webinar was that whatever you do, do it well, focus on one thing, and do it really well. For the longest time I couldn't be happy with scalps because I always felt I would be better off taking more of the move on the bigger setups. But scalping for small gains is easy on the constitution, as the Rothschilds said, the market is like a cold shower, quick in, quick out. And the scalps add up real quick, as long as you just focus on them and do not try to have it both ways.... We'll see how it goes with the nanex level frequency, so far, so good... I was doing well with this at another time but then got into trying to own the bigger market, which I find far more difficult, whatever works I guess...


Big Mike View Post
I think this is key.

Over the last couple years I have found that I have continued to step back further and further from my trades, using bigger time frames, bigger charts, bigger targets, bigger stops and really just focusing on the bigger picture.

These days I can't imagine trading any other way. The smaller stuff just makes no sense to me any more. I get into heated debates with some trading friends about this

Part of my thinking is that I believe you have to step back in order to really have a shot at going into each session with a plan for what the market may do today. This has become a very important part of my trading. Where I used to "wing it" based on what the market threw at me and how that interacted with components of my chart like moving averages or pivots, these days I have almost nothing left on my chart for interaction on any kind of an intraday or short term level, and instead focus much more on daily charts and bigger picture moves.

I find it much more relaxing to trade this way, and much more profitable as well. I dare to use the word "easier".

Mike


Reply With Quote
 
  #56 (permalink)
Membership Temporarily Revoked
siam, west coast andaman sea
 
Futures Experience: Master
Platform: ninja
Favorite Futures: gc, cl, tf, 6e
 
nakachalet's Avatar
 
Posts: 512 since Aug 2011
Thanks: 559 given, 200 received

arnie, that is a great idea, kicking it up another level


arnie View Post
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

@arnie

that is a truly great idea trading simm on real time, applying whatever the demonstrator wants to emphasize and recording it for seminar or webinar for whomever.

better yet, trading it on real time and real money with just 2 contracts which surely will not break any trading educators' back for sure; applying target 1 at whatever price deemed fit by the educator and leaving the 2nd target for runner, if the educator so wishes or going for all in all out, if prefers.

to date, there were only 4 educators that i knew of, who went on line live on own accounts to win over potential clienteles, but there could be many more who have such confidence in their own setups and their own trading abilities that it won't bother them one bit to trade live to satisfy the eternal question--show me the money....

good suggestion, arnie. but do not hold your breath though, it will be quite a while before the real mccoys would be courageous enough to trade live in public.... LOL

but that is very much understandable, right? it is just too risky to do that. every trader is at the mercy of the market that particular day, even if you have the very best setup of say with 80% success rate, on that particular day that you choose to demo your setups and skills, the market and the product might have their own mind to just not cooperate.... and furthermore, it might decide to just humiliate you in front of hundreds.... LOL

just a thought to ponder for some. have a good trading session everyone. cheers.

Reply With Quote
 
  #57 (permalink)
in a meditative state...
Portugal
 
Futures Experience: Advanced
Platform: Multicharts, Jigsaw
Broker/Data: Stage5, OEC
Favorite Futures: Treasuries
 
arnie's Avatar
 
Posts: 801 since May 2010
Thanks: 709 given, 976 received


nakachalet View Post
that is a truly great idea trading simm on real time, applying whatever the demonstrator wants to emphasize and recording it for seminar or webinar for whomever.

better yet, trading it on real time and real money with just 2 contracts which surely will not break any trading educators' back for sure; applying target 1 at whatever price deemed fit by the educator and leaving the 2nd target for runner, if the educator so wishes or going for all in all out, if prefers.

to date, there were only 4 educators that i knew of, who went on line live on own accounts to win over potential clienteles, but there could be many more who have such confidence in their own setups and their own trading abilities that it won't bother them one bit to trade live to satisfy the eternal question--show me the money....

good suggestion, arnie. but do not hold your breath though, it will be quite a while before the real mccoys would be courageous enough to trade live in public.... LOL

but that is very much understandable, right? it is just too risky to do that. every trader is at the mercy of the market that particular day, even if you have the very best setup of say with 80% success rate, on that particular day that you choose to demo your setups and skills, the market and the product might have their own mind to just not cooperate.... and furthermore, it might decide to just humiliate you in front of hundreds.... LOL

just a thought to ponder for some. have a good trading session everyone. cheers.


Like FT says, if he traded accordingly to his signals but by the end of the day he's negative, tomorrow is another day. If we all understand what is teaching I doubt that anyone will think less of him if he ends negative on the day. I sure won't. You win some, you loose some.

I "know" a guy that trades live, with his own account during 3 weeks for those who takes his course.
John, from No BS Day Trading has an ebook with the same name (great ebook by the way) where he teaches how to read the DOM. Although the book gives a sense of the DOM it lacks that real time thing. Trying to learn something that is not static from a book it's not the preferable way.
The problem though is that he charges $590 for the course and to tell you the truth I'm tired of spending money on books, software, courses and other stuff just to keep track of what is happening in this business and in the end little or no value they offer to my business. Naturally that I accept that people charges for ebooks and videos/webinars since they took time to be made and that time needs to be paid but having said this, you just can't stop thinking that if they are really here to trade and help others, since they took the time to write or make a webinar, why charge such high prices? Naturally this is nothing compared to the so called gurus that charge $5k and more just for a couple of hours... you got to wonder...

In this aspect FT is really amazing since he offers almost 2 hours of his time in each webinar with no real interest behind. Well... naturally that we all know that behind all the webinars is his brokerage firm, but that's alright, we accept that, I accept that. There's no free meals in this world. You are investing on future clients at the same time you do some philanthropy, helping other traders.
Now, when we talk about some course sold by $600, $1000 and so forth, I ask, why bother trading at all with a sure income like this? I'm not saying that they never traded before, I'm saying why bother.

If I become half a percent smarter each year, I'll be a genius by the time I die
Reply With Quote
 
  #58 (permalink)
Elite Member
Milan Italy
 
Futures Experience: Intermediate
Platform: Ninjatrader, Sierra Chart
Favorite Futures: ES
 
Posts: 523 since Feb 2010
Thanks: 470 given, 629 received


futuretrader View Post

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

Since I initially suggested this, I'd like to clarify that I had no intention to propose a live trading session. It was really just an offhand remark. And pedagogically, a recorded session would be much more beneficial than a live one, though I'm sure it would be a lot of work for him.

In any case, I think you should probably ignore all these ideas and ask FT71 to present whatever he thinks will most benefit struggling traders, since one of the main problems struggling traders have is that they don't know what's good for them.

Reply With Quote
 
  #59 (permalink)
Elite Member
australia
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: -
 
Posts: 300 since Sep 2010
Thanks: 123 given, 137 received


Big Mike View Post

Over the last couple years I have found that I have continued to step back further and further from my trades, using bigger time frames, bigger charts, bigger targets, bigger stops and really just focusing on the bigger picture.

Part of my thinking is that I believe you have to step back in order to really have a shot at going into each session with a plan for what the market may do today. This has become a very important part of my trading. Where I used to "wing it" based on what the market threw at me and how that interacted with components of my chart like moving averages or pivots .....

Mike, can I know what are you looking specifically at or for in the bigger time frames?

I find myself looking at the same things as in a smaller time frame - trendlines and pivots; it just that these seems to have more "weight" in a bigger time frame

Reply With Quote
 
  #60 (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, 83,220 received



jonc View Post
Mike, can I know what are you looking specifically at or for in the bigger time frames?

I find myself looking at the same things as in a smaller time frame - trendlines and pivots; it just that these seems to have more "weight" in a bigger time frame

Check out my recent posts in 'Tomorrows chart' thread for general ideas. It is very simple stuff.

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

Reply



futures io > > > Webinar: FuturesTrader71 (FT71) on Volume Profile

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Webinar: Sierra Chart Ladder, TPO, Volume Profile and "Homework" Big Mike Sierra Chart 16 September 23rd, 2014 04:48 PM
FT71 www.futurestrader71.com review Big Mike Trading Reviews and Vendors 26 July 31st, 2014 12:54 PM
TOS Monkey Bars (Mkt Profile) & Volume Profile TonyB ThinkOrSwim 39 November 29th, 2013 11:13 AM
Webinar: FuturesTrader71 (FT71) on Risk, Sizing, Scaling and Trade Management Big Mike Psychology and Money Management 135 March 13th, 2013 06:45 AM
Webinar: FuturesTrader71 (FT71) Volume Profile Methodology and Examples Big Mike Traders Hideout 98 March 7th, 2013 04:13 PM


All times are GMT -4. The time now is 07:57 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-12 in 0.19 seconds with 20 queries on phoenix via your IP 54.234.255.29