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


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

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  #161 (permalink)
Site Administrator
Manta, Ecuador
 
Experience: Advanced
Platform: My own custom solution
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Big Mike View Post
Tip


There will be a Live AMA session on Tuesday, July 9th @ 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/356574886




Mike

AMA is open and starts in a couple of minutes.

Mike

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  #162 (permalink)
Site Administrator
Manta, Ecuador
 
Experience: Advanced
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Posts: 48,916 since Jun 2009
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I want to thank @FuturesTrader71 for his time today like always.

Below is the video recording. We decided to do an "extended edition" so this one is 45 minutes.

If your question did not get answered, you can post it here in the thread and FT71 will do his best to answer.

Mike

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  #163 (permalink)
Site Administrator
Manta, Ecuador
 
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Posts: 48,916 since Jun 2009
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What did everyone think of the AMA?

Mike

We're here to help -- just ask

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  #164 (permalink)
Fort Lauderdale
 
Experience: None
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Trading: ES
 
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I really enjoyed it...lots of good stuff to think about.

thank you @FuturesTrader71 and @Big_Mike!

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  #165 (permalink)
Pompano Beach, Florida, USA
 
Experience: Beginner
Platform: S5 Trader, Ninja Trader
Broker: Stage5/ IQfeed
Trading: M6E, M6A, 6E, 6A, ES
 
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Posts: 159 since Jun 2013
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Couldn't watch it "live' but just viewed the recording..... excellent info, as always.

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  #166 (permalink)
Kampala, Uganda
 
Experience: Intermediate
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Great AMA!

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  #167 (permalink)
Amsterdam, The Netherlands
 
Experience: Intermediate
Platform: Sierra, IRT, ToS, Ninja
Broker: Stage 5
Trading: NQ
 
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Big Mike View Post
What did everyone think of the AMA?

Mike

Are you kidding? I just PMed FT to open an account with him.

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  #168 (permalink)
Chicago, IL, USA
 
Experience: Advanced
Platform: CT Bookmap, IRT
Broker: EdgeClear.com using Rithmic/IQFeed
Trading: ES, CL, RTY
 
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Posts: 306 since Feb 2012
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bob7123 View Post
Hi,

This is a question for Big Mike and FT71 that I have been wanting to ask for a while.

FT says he has a background as a scalper and still looks at shorter timeframes. Big Mike talks about how his smaller charts are 100K tick charts.

I would love it if you two would discuss what is different about your trading styles, and what is not.

In the areas where you diverge, how do you guys feel your styles fit personally, and in the areas where you find common ground, what do you agree are the most important and universal concepts for trading success?

Thanks,
-Bob

Hi Bob,

Sorry I didn't see this before the AMA session. We answered it during that session though.

Thanks for asking.

FT71

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

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  #169 (permalink)
Chicago, IL, USA
 
Experience: Advanced
Platform: CT Bookmap, IRT
Broker: EdgeClear.com using Rithmic/IQFeed
Trading: ES, CL, RTY
 
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Posts: 306 since Feb 2012
Thanks: 122 given, 1,146 received


lifeguardsteve88 View Post
Wow, a micro ES (any/all micro-Index products actually) would be an awesome way for beginners to to learn the trading craft. Certainly wish you success in your efforts. And I'm looking forward to funding my S5 account soon, Cheers!

Hey Steve,

Yeah, we have been pushing the product group for some time. We will likely get something in the next few months.

I focus most of my effort when I'm not trading and while I'm trading on watching how others are doing and attempting to intervene to help them deal with the risk associated with trading (on a best effort basis). What I have noticed is that most folks are really penny wise and pound foolish when it comes to how risk is managed. I hear folks trying to push for lower commissions and the ability to fund with lower equity while trying to trade something like CL using lower-class data sources, charting, etc. It then is not a surprise when within a few days of trading, they have given up 15-25% of their account in losses.

With the micro-products, the risk still exists. The emotions associated with winning and losing are still there, but the risk is much lower. Yes, micros cost relatively more to trade, but overall, it is my belief that traders would be ahead if they got off the bigger products and simulators and traded those live. Once you see a positive expectancy and once a trader has executed enough trades to get over the anxiety of losing, then you can move to the bigger products as a career.

We will keep pushing and we will likely need public support to do it.

FT71

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
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  #170 (permalink)
Legendary Market Wizard
Georgia, US
 
Experience: None
Platform: SC
Broker: AMP+CQG
Trading: ES, HSI, Nikkei
 
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Posts: 5,451 since Jan 2011
Thanks: 6,026 given, 14,327 received



FuturesTrader71 View Post
We will keep pushing and we will likely need public support to do it.

@FuturesTrader71, please keep pushing. Let's say a trader has a $20,000 account. If he wants to swing trade the ES, if we assume a typical stop size of about 10 handles for an ES swing trade, that's $1000 on 2 contracts only, which is really the minimum for such a trade, and that's just too much risk as a percentage of the account. So a micro would be a great way to allow more granular sizing for day trades, as well as opening the possibility of trading multiple contracts on swing trades and being able to actually work around a position doing so. Please keep us posted and if we can do anything let us know!

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