NexusFi: Find Your Edge


Home Menu

 





Webinar: FuturesTrader71 (FT71) on Volume Profile


Discussion in Traders Hideout

Updated
      Top Posters
    1. looks_one Big Mike with 34 posts (31 thanks)
    2. looks_two syxforex with 6 posts (2 thanks)
    3. looks_3 josh with 5 posts (12 thanks)
    4. looks_4 omni72 with 5 posts (12 thanks)
      Best Posters
    1. looks_one Private Banker with 2.5 thanks per post
    2. looks_two omni72 with 2.4 thanks per post
    3. looks_3 josh with 2.4 thanks per post
    4. looks_4 Big Mike with 0.9 thanks per post
    1. trending_up 51,056 views
    2. thumb_up 85 thanks given
    3. group 25 followers
    1. forum 87 posts
    2. attach_file 1 attachments




 
Search this Thread

Webinar: FuturesTrader71 (FT71) on Volume Profile

  #41 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,396 since Jun 2009
Thanks Given: 33,172
Thanks Received: 101,537


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

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote

Can you help answer these questions
from other members on NexusFi?
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
NexusFi Journal Challenge - April 2024
Feedback and Announcements
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
Better Renko Gaps
The Elite Circle
Futures True Range Report
The Elite Circle
 
  #42 (permalink)
 
Private Banker's Avatar
 Private Banker 
La Jolla, CA
 
Experience: Master
Platform: Sierra Chart, X_Trader Pro, OptionsCity
Broker: Advantage, Trading Technologies, OptionsCity, IQ Feed
Trading: CL, NG
Posts: 1,038 since Jul 2010
Thanks Given: 1,713
Thanks Received: 3,863


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.

Reply With Quote
  #43 (permalink)
 
omni72's Avatar
 omni72 
Tulsa, OK
 
Posts: 348 since Jan 2012
Thanks Given: 582
Thanks Received: 624



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
Reply With Quote
Thanked by:
  #44 (permalink)
 gonzofist 
PORTLAND, OR
 
Experience: None
Platform: NinjaTrader
Trading: Futures
Posts: 185 since Jul 2011
Thanks Given: 74
Thanks Received: 168

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).

Visit my NexusFi Trade Journal Reply With Quote
  #45 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,396 since Jun 2009
Thanks Given: 33,172
Thanks Received: 101,537


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

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
  #46 (permalink)
 
Malvolio's Avatar
 Malvolio 
Frankfurt, Germany
 
Experience: Advanced
Platform: TT, ProRealTime
Broker: Advantage
Trading: Futures
Posts: 145 since Nov 2010
Thanks Given: 93
Thanks Received: 84


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

Reply With Quote
  #47 (permalink)
 Czechmade 
Silverthorne, CO
 
Experience: Beginner
Platform: Investor RT
Broker: DTN IQ feed
Trading: ES
Posts: 20 since May 2010
Thanks Given: 4
Thanks Received: 5

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.

Reply With Quote
  #48 (permalink)
 
arnie's Avatar
 arnie 
Europe
 
Experience: Advanced
Platform: Jigsaw
Broker: Tradovate
Trading: Equities
Posts: 826 since May 2010
Thanks Given: 763
Thanks Received: 1,048

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
Reply With Quote
  #49 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,396 since Jun 2009
Thanks Given: 33,172
Thanks Received: 101,537

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

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote
Thanked by:
  #50 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,396 since Jun 2009
Thanks Given: 33,172
Thanks Received: 101,537



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

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal Started this thread Reply With Quote




Last Updated on January 31, 2022


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
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.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts