AMA: FuturesTrader71 (FT71) / Morad Askar - Ask Me Anything - futures io
futures io futures trading



AMA: FuturesTrader71 (FT71) / Morad Askar - Ask Me Anything


Discussion in Trading Reviews and Vendors

Updated by mjg2trader
      Top Posters
    1. looks_one FuturesTrader71 with 184 posts (635 thanks)
    2. looks_two Big Mike with 122 posts (460 thanks)
    3. looks_3 josh with 12 posts (30 thanks)
    4. looks_4 arnie with 10 posts (14 thanks)
      Best Posters
    1. looks_one Big Mike with 3.8 thanks per post
    2. looks_two Yukoner with 3.6 thanks per post
    3. looks_3 FuturesTrader71 with 3.5 thanks per post
    4. looks_4 josh with 2.5 thanks per post
    1. trending_up 190,793 views
    2. thumb_up 1,415 thanks given
    3. group 341 followers
    1. forum 600 replies
    2. attach_file 19 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 100,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
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

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

 
Search this Thread
 

AMA: FuturesTrader71 (FT71) / Morad Askar - Ask Me Anything

(login for full post details)
  #111 (permalink)
Site Administrator
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 48,943 since Jun 2009
Thanks: 31,597 given, 94,611 received

Tip


There will be a Live AMA session on Tuesday, May 14th @ 12:00 PM ET.

- Quick and casual, 30 minute cap
- No prepared presentation
- Live screen sharing
- Floor will be opened immediately to questions
- Recording uploaded to AMA thread afterwards
- Attend live to get your questions answered

The link for the event is:
https://www3.gotomeeting.com/register/185788694




Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/
Follow me on Twitter Visit my Facebook Visit my futures io Trade Journal Reply With Quote
The following 5 users say Thank You to Big Mike for this post:

Can you help answer these questions
from other members on futures io?
Tradestation behind Firewall
TradeStation
TOS Custom Implied Volatility Rank Watchlist/Scanner Column
ThinkOrSwim
Emini 4 Tick Scalp still valid?
Emini and Emicro Index
FYI plot bug & workaround: changing color or width is delayed 1 bar
EasyLanguage Programming
portfolio maestro manage my strategies
TradeStation
 
Best Threads (Most Thanked)
in the last 7 days on futures io
Life sacrifice loneliness trading futures
95 thanks
Is anyone actually making money?
48 thanks
Are sharks watching on the other side?
39 thanks
What VPC configuration/specification do you use for TS?
34 thanks
Spoo-nalysis ES e-mini futures S&P 500
25 thanks
 
(login for full post details)
  #112 (permalink)
Dallas/Tx
 
Experience: Advanced
Platform: NinjaTrader
Trading: CL Crude Oil
 
Posts: 281 since Sep 2011
Thanks: 168 given, 166 received

Yah that's helfpul ok thanks

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #113 (permalink)
Birmingham, AL
 
 
Posts: 1,065 since Apr 2012



josh View Post
@FuturesTrader71, in "Phantom", POP's big rule #1 is to assume you are wrong, and get out of a trade unless the market proves you correct. This is in contrast to often-heard advice that a trade is valid until 'the market proves you wrong.' Instead of yielding control of the position to the market, POP advises that the trader stay in control of the position, and manually get out unless the market proves him correct.

From the webinars you have given, I have noticed that you typically recommend the "don't mess with your stop, let the market take you out" approach, which is about 180 degrees from what is in PoP. Since you recommended PoP, I am curious as to whether you simply don't believe in this type of approach but still find the book helpful, or whether perhaps your general advice is for newer traders who have a tendency to jump in and out on a whim, to help them avoid overtrading?

Bump

Reply With Quote
 
(login for full post details)
  #114 (permalink)
ALICANTE
 
Experience: Beginner
Platform: Sierra
Trading: ES, CL, NQ, GC
 
bmmartin's Avatar
 
Posts: 12 since Feb 2010
Thanks: 259 given, 11 received


indextrader7 View Post
Bump

Thanks for bumping it: I am also very interested to hear/read what FT71 answers.

Reply With Quote
The following user says Thank You to bmmartin for this post:
 
(login for full post details)
  #115 (permalink)
Philippines
 
Experience: Beginner
Platform: Sierra
Trading: Futures/Bund
 
Posts: 18 since Mar 2013
Thanks: 45 given, 28 received

Hi FT71,

Since we re on the subject of Phantom of the Pits, could you please explain how the process has changed over the past 15 years? ie. How much emphasis has been taken over by electronic trading, how strong is the physical aspects in the pits and such. Orders, locals, human interaction, etc...

Really appreciate everything you and big mike are doing here. Thanks, marts

Reply With Quote
The following user says Thank You to marts01 for this post:
 
(login for full post details)
  #116 (permalink)
Site Administrator
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
 
Big Mike's Avatar
 
Posts: 48,943 since Jun 2009
Thanks: 31,597 given, 94,611 received

Bump for tomorrow's event, link is a few posts up.

Mike

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/
Follow me on Twitter Visit my Facebook Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to Big Mike for this post:
 
(login for full post details)
  #117 (permalink)
London, United Kingdom
 
Experience: Intermediate
Platform: Stellar
Trading: ES, FGBL, FDAX
 
Posts: 4 since Apr 2013
Thanks: 2 given, 5 received

Hi FT71,

Just a quick query, do daily moving averages play a big part in your trading strategy?

If so, how? And what setup parameters do you find most helpful? (I currently chart on CQG and use type 'simple', price set to 'close', and look at 10, 20, 50 and 100 day moving averages)

Many thanks to both Big Mike and yourself for all your help, its much appreciated.

Reply With Quote
The following user says Thank You to PLD3 for this post:
 
(login for full post details)
  #118 (permalink)
Chicago, IL, USA
 
Experience: Advanced
Platform: CT Bookmap, IRT
Broker: EdgeClear.com using Rithmic/IQFeed
Trading: ES, CL, RTY
 
FuturesTrader71's Avatar
 
Posts: 306 since Feb 2012
Thanks: 122 given, 1,148 received


syxforex View Post
Thanks FT71, really appreciate your time.

Thank you! I hope you get something out of it to push you towards your goal.

Risk Disclaimer: Trading Futures is not suitable for all investors. Past Performance is not indicative of future results.

If you have any questions about the products or services provided, please send me a Private Message or use the futures.io "Ask Me Anything" thread
Follow me on Twitter Reply With Quote
The following user says Thank You to FuturesTrader71 for this post:
 
(login for full post details)
  #119 (permalink)
Chicago, IL, USA
 
Experience: Advanced
Platform: CT Bookmap, IRT
Broker: EdgeClear.com using Rithmic/IQFeed
Trading: ES, CL, RTY
 
FuturesTrader71's Avatar
 
Posts: 306 since Feb 2012
Thanks: 122 given, 1,148 received


josh View Post
@FuturesTrader71, in "Phantom", POP's big rule #1 is to assume you are wrong, and get out of a trade unless the market proves you correct. This is in contrast to often-heard advice that a trade is valid until 'the market proves you wrong.' Instead of yielding control of the position to the market, POP advises that the trader stay in control of the position, and manually get out unless the market proves him correct.

From the webinars you have given, I have noticed that you typically recommend the "don't mess with your stop, let the market take you out" approach, which is about 180 degrees from what is in PoP. Since you recommended PoP, I am curious as to whether you simply don't believe in this type of approach but still find the book helpful, or whether perhaps your general advice is for newer traders who have a tendency to jump in and out on a whim, to help them avoid overtrading?

Excellent question. I don't agree with this aspect of POP's rule. I believe that traders micro-manage their position after painstakingly putting it on in the first place (lots of price risk assumed to put the trade on). This is a double-negative, in my opinion (and no that doesn't make a positive thing).

How many times have you fiddled with a trade and then saw it work out just the way you had envisioned?

POP's rule is valid back in the late 90's and through the 2000's. However, the market is very slow to make a move and once the move takes place it ends quickly. Back then, you can see the reaction from the market to your position quickly and it was a lot easier to scalp it. Now, I believe a researched edge executed without errors over a large sample is the better way to go.

Almost all of the traders that we have at our brokerage overmanage their trades. This is a bad habit, in my opinion. It leads the trader to believe that they know what will happen but they don't.

Risk Disclaimer: Trading Futures is not suitable for all investors. Past Performance is not indicative of future results.

If you have any questions about the products or services provided, please send me a Private Message or use the futures.io "Ask Me Anything" thread
Follow me on Twitter Reply With Quote
The following 11 users say Thank You to FuturesTrader71 for this post:
 
(login for full post details)
  #120 (permalink)
Chicago, IL, USA
 
Experience: Advanced
Platform: CT Bookmap, IRT
Broker: EdgeClear.com using Rithmic/IQFeed
Trading: ES, CL, RTY
 
FuturesTrader71's Avatar
 
Posts: 306 since Feb 2012
Thanks: 122 given, 1,148 received



calitrader View Post
Hi FT71,
Thank you very much for all that you have given to this community, your dedication to helping traders and 'changing the industry' I have heard you refer to a risk sheet in webminars and AMA that you review before trading. I have tried to create my own but I would like to make sure I am not missing any big areas. Do you have a template of one you could share on the thread? Thank you.

Chris

My risk sheet is proprietary. However, I know several people have asked for this. I will work something up and get back to you. I usually only share proprietary stuff with our traders.

Risk Disclaimer: Trading Futures is not suitable for all investors. Past Performance is not indicative of future results.

If you have any questions about the products or services provided, please send me a Private Message or use the futures.io "Ask Me Anything" thread
Follow me on Twitter Reply With Quote
The following 2 users say Thank You to FuturesTrader71 for this post:


futures io Trading Community Trading Reviews and Vendors > AMA: FuturesTrader71 (FT71) / Morad Askar - Ask Me Anything


June 13, 2020


Upcoming Webinars and Events
 

Relative Rotation Graphs w/Julius de Kempenaer

Elite only
 

Every journal equals ten meals for the hungry

Now
     



Copyright © 2020 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