Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
Posts: 49,753 since Jun 2009
Thanks: 32,299 given,
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I've noticed that a great deal of Investor/RT customers use FT71's (FuturesTrader71) methodology, or at least follow him pretty closely. He makes calls on Twitter and also does some webinars.
I'm considering asking him to do an educational webinar for futures.io (formerly BMT), but before I do, I'd like to know if any of you guys are using his method past/present and what you can share about him. Just doing some due diligence...
I follow him in twitter but never used his information to trade, sometimes he tweet some news quickly.
One day he did a sudden live webinar (on gotowebinar), he just explained what the market was doing in real-time, not a "teaching webinar" but everything he said made sense to me, seems a good teacher, was worth it. Btw he trades ES and by the time he did this I focused only on 6E.
I often follow him during the day on twitter. It's eery how good he is. He's not a commercial educator though...he just decided to have people donate a small amount to charity for a few of his videos.
I've been following him for months now and have learned more from him than any other place. I've been thru some courses at Online Trading Academy which were good for gaining the beginning tools needed but FT71 is the real deal and not a money grabber. He freely gives his information and does not offer any "paid services" as previously mentioned. He does have 4 webinars that are recorded that he asks for small donations to charity to view, but the free information is abundant.
Anyone interested can go to his site and get all they need. I doubt he would do a webinar for this or any other site since he has already put everything out there and isn't trying to sell anything. But I have gone from losing to starting to be better than breakeven using his methodology. Interested traders should just go to his site and view all the free chats, etc. Volume profiling is his thing and he uses it very well.
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He's a good guy, he used to post on ET a few years ago. I've only seen a couple of his videos, and they seem decent. From what I could gather, he seems to know his stuff. All the lines on his charts makes me dizzy, though.
But as I also trade with Market Profile, I would at least vouch for the methodology. I wouldn't want to trade without it!
I abandoned my cycle trading method in favor of a market & volume profile based method, FT71 was a great influence for me. It took me a while but I now have consistent results. I don't trade exactly like him but I use his concepts in my trading. I highly recommend him & his methods.
The following 2 users say Thank You to cunparis for this post:
I follow 2 traders on Twitter and FT71 is one of them. I have been doing so since before he did his $20 donation webinars ( about 2 years). He has no desire to get on board the educational gravy train and is a very good and profitable trader. His Auction Theory is difficult to master but what a difference once learned, and how to deal with your monkey brain teachings are the best.
I want to know every day how he sees the ES. He is a master auction theory trader. 99% of his teachings are FREE! He is just a really good guy.
If you do a webinar I'd humbly request in the spirit of FT71 please make it free for everyone and not just elite members.
You can be certain you will have a real trader if you can persuade him.
Shivaya
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Does he trade anything else than the ES ? or put differently, can his approach of market profile be easily applied to other markets ? I ask this as some market profilers can do a great job on the ES with Market Profile but when it comes time to apply it to say the RUSSELL or Euro (6E) then their frame of reference does not seem to run as accurately.
He trades mostly ES. some DAX and NQ. Also discusses Euro and CL. He is not your typical Market Profile trader but has taken it to what I'd describe as another inner level only achieved after thousands of hours of screentime. His ability to read the composite chart is one major reason for his success.
For those wanting him to do a webinar here.. most people do webinars in order to build brand awareness, sell their products & services, etc. I get notifications every week about webinars like that.
If you want to learn more about FT71, he has already recorded 4 excellent webinars. For the price of a small donation to a charity you can watch them right now.
I also recommend reading Dalton's books, you'll understand FT71 even more.
The following user says Thank You to cunparis for this post:
To be honest, i have the feeling most market profilers that use Dalton's principles can effectively use MP more easily on the ES than any other instruments. I think it is due to the fact that the ES is not a trending instrument. Applying the same concept (responsive/initiating activities) on the Euro does not work as well to the tick as it does on the ES. For example, seeing a 2 points bounce on a Naked POC on the ES is not a rare event, it's more the norm but on the Euro, i don't see the same behavior. I suppose it is like Fibonacci or daily pivot studies which work well on certain instruments but not on everyone.
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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.
Tom
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He is the best. His calls are uncanny, his analysis of the market is right on. He will share his views of what he thinks the market might do and uses logic. He has a couple of seminars on his website that are well worth the money (donations go to his charity) and is very generous with his knowledge.
I follow him on TweetDeck. I think he has several thousand followers. He tries to prepare his followers by stressing preparation and anticipation.
He is strongly recommended! I try to attend his seminars and chats as much as possible.
Several years ago I used to be in a room with him (not his) and he was excellent . . . he's located in Chi Town and offices next to the exchange and is a member of the exchange . . . he used to have (maybe still have) his own prop shop and funded his traders . . . he would be a great webinar speaker . . . not only does he know the tech side of trading but also what goes on between the ears . . . I think he would accept if invited . . . he is a genuine pay it forward kinda guy . . .
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A question for those who have watched his seminars. Can his methods be adapted to Ninjatrader? Or does it require particular MP indicators that are only available for his trading platform? Thanks.
Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
Posts: 49,753 since Jun 2009
Thanks: 32,299 given,
97,507
received
Not a NT user myself, I think yes it can be adapted. But if are newer, it would be easier to use his platform simply due to following along with his videos and etc. But for a more experienced user, I think the tools exist in NT (third party only, not native) to be able to do it, for the most part. GomMP for instance (free to elite), or Rancho Dinero's stuff.
Cloudy he uses Investor R/T... With the Market Profile edition it is $90.00/mo to lease... FT71 has chart setups you can import so you have his charts, then it is a matter of customizing and integrating his process into yours..
Like everthing in trading it is not plug & play but he will help you advance your trading education potentially faster than any other process..
Of course auction theory, etc must align with your logic/psyche...
While I do not believe in Vendors, FT71 is not a vendor, I can vouch for what he does.
Once you understand that trading is an auction process and what volume tells you at a specific price you will have a better understanding of what is going on and the ability to know what the markets potential is.
We never really "know" anything..we just recognize behavior that is repetitive and try to align ourselves with the market. Then put your helmet on.
The tools you use are what support the decision making process... There is always ambiguity when you enter the trade..that is the risk... then you find out ...
FT71 and some of the books mentioned here would be a great place for any trader new or experienced to explore... Remember it is not necessarily replicating what he does..I don't think many can - like everything else. It is seeing the concepts and then creating a process from tools that align so you can execute with minimal conflict... Just my 2 cts...
Regards,
Tom
Nothing To It But To Do It
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FT71 uses MP thru Investor RT for his charts and profiles. You can see his setups, descriptions, codes etc here: Investor/RT - FuturesTrader71 Charts.
His profiles are based on previous highs and lows that may be several years back. To the best of my knowledge, neither Ninja nor any add-ons can do that. Investor RT/Market Delta can do that quickly and gracefully. If you want to try, go to the link above, read the descriptions and get a free trial from Investor RT. Make sure you do all your reading first because Investor RT has so much to offer and like any charting package, takes some time to understand and set up for your needs.You can also look thru the Market Delta website and watch their videos. I think the difference between Investor RT and Market Delta is cost and footprint (bid/ask) data that only Market Delta provides. Both programs have so many options and very comprehensive data.
Thanks for posting that link; it was interesting to see his chart templates. I have virtually the same templates in NT with gomi's add-ons, but I certainly wouldn't say it's 'quick and graceful'. On the other hand, NT can do a lot of other things I wouldn't want to give up.
Morad Askar, better known as FuturesTrader71 or simply FT71, will be monitoring this thread so that he may answer any questions that you post here about trading in general.
Please keep in mind that some customer service/technical support issues are …
As part of our AMA series, FT71 will also be presenting two 30-minute live screen sharing sessions each month. This is in addition to any normally scheduled "full" webinar presentations.
