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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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ktrader View Post
Does a higher resolution version of this recording exist?

. I can only select 480p as maximum which is too low to see the details of the charts in this recording.

I think it is encoded in 720p. I am not sure.

However, if you have trouble viewing it in HD, you can see it here in HD as well: February 3rd Big Mike Trading - Extended AMA and Question Session | FuturesTrader71

Best wishes,
FT71

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Joshua1984 View Post
What is your opinion on exiting a trade after X-mins when it has gone nowhere?

I know people who approach risk that way. It is called a Timed Stop. I think if you test for it and have a legitimate reason to exit the idea while it is still brewing, then this is fine.

However, I feel that as long as your idea for the trade has not been violated and you are trading with the right context in your time frame, then it is better to be patient. The market does but not very often push your way right away.

FT71

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Yukoner View Post
FT 71,

Listening to one of your webinars for the 5th time, and you made the comment that most traders are low on mental capital and that your job as a prop trading firm owner was to help your traders gain on their emotional capital ( 4:98 - risk, scaling, probabilities, and trade management).

Would you be able to share some specific steps on how to increase one's mental capital that can be recommended to us traders here on futures.io (formerly BMT)? Considering that the majority of us don't have access to the environment of a prop firm such as yours. I think traders on futures.io (formerly BMT) would find it invaluable to hear that... Or my wish list would be a webinar on the topic.

Thanks for your consideration,

Yukoner

Yukoner,

This is a great topic for a webinar at some point. I hate to sound like I'm copping out, but this topic is to big for me to answer in typing here. Maybe ask at the next AMA? (better get on Mike about that so we don't have one once a year like last time)

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ShaunG View Post
I am no expert! However, I would agree with you, once in the trade, and it’s going nowhere, exit the trade – something’s wrong!

I remember listening to one of “LBR” webinars, where she echoes similar advice. Once you have entered a trade, if your entry is correct, it should start to move in your direction immediately. Linda likes to refer to… “Try to feel the market’s pulse” and move accordingly. No pulse, “GET OUT”!

My humble opinion, of course!

Yeah, that is fair. Just be sure that it is a legitimate reason to exit rather than reacting on emotions. Emotions in this line of work are VERY expensive.

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arnie View Post
Hi @FuturesTrader71

What are your thoughts regarding the CME closing all the pits except the S&P?
Sooner or later also the S&P pit will be closed so how would you think that one should now look at the pit session since there will be none?
For instance, the treasuries pit session begin at 7:20CT and end at 14:00CT. Maybe this time period will continue after the pit closes has being the day session period but chart wise, do you think that it will make sense to continue looking at the market by session, RTH vs ETH? Or since the market will be 100% electronic volume (in a way it is already) will not "wait" for the pit to open and may start acting at any time now?

Regards

I think that the CME is focused on its stock price; as all public companies do and should. The increase in costs to online traders despite the increasing volume on the exchange is telling me that the exchange is getting rid of inefficiencies. The floor is a relatively inefficient price discovery and value mechanism. Also, the trading floor has surveillance, monitoring and tons of other personnel and overhead to run. I think they are doing the smart thing. It doesn't really affect us much.

However, the sessions will not change. The pit sessions are based on more than just when the exchange floor is running. Why do you suppose that the RTH session in futures closes 15 minutes after the cash?

This is a technical question that very few know the answer to. Give it a go!

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FuturesTrader71 View Post
I think that the CME is focused on its stock price; as all public companies do and should. The increase in costs to online traders despite the increasing volume on the exchange is telling me that the exchange is getting rid of inefficiencies. The floor is a relatively inefficient price discovery and value mechanism. Also, the trading floor has surveillance, monitoring and tons of other personnel and overhead to run. I think they are doing the smart thing. It doesn't really affect us much.

However, the sessions will not change. The pit sessions are based on more than just when the exchange floor is running. Why do you suppose that the RTH session in futures closes 15 minutes after the cash?

This is a technical question that very few know the answer to. Give it a go!

I have no idea
Surely it has a technical explanation and not somebody that on a whim decided that 15min after cash close would be the way to go.

If I become half a percent smarter each year, I'll be a genius by the time I die
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Ft71(Morad) thank you for the book generosity from the futures.io (formerly BMT) giveaway. Book receieved in excellent order. For those interested the book is Coaching the Mental Game. By H. A. Dorfman

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Thank you FT 71

FT56- brattebakken

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arnie View Post
I have no idea
Surely it has a technical explanation and not somebody that on a whim decided that 15min after cash close would be the way to go.

If you ever listen to a pit squawk (before the end floor trading), you will hear a siren in the background every 15 mins. That siren ends a trading bracket of 15 mins (this is probably where Steidlemeyer came up with 30 min brackets for Market Profile at the CBOT). All trading cards have to be in for that bracket within 15 mins on the floor. Hence, the floor had 15 mins at the end of the cash session to finalize its pit orders and to close the session at 4:15 ET vs. 4:00 ET for the cash.

How is this relevant? It is relevant because we are trading a derivative of the cash. Unless and until the cash (stock equities) change their active trading hours, it won't make a difference to what RTH vs. Globex trading would be. Even if the pit is gone, we still have to trade the 500 stocks in the ES or the 50 stocks in NQ or 30 stocks in the YM according to what has occurred in their underlying equity issues.

In short, closing the pit will take away arb opportunities for many guys I know who trade electronically in the CME pit. Otherwise, the more efficient market is the electronic and that is where most of the business and volume is anyway.

I hope that makes sense.

Best,
FT71

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KahunaDog View Post
Ft71(Morad) thank you for the book generosity from the futures.io (formerly BMT) giveaway. Book receieved in excellent order. For those interested the book is Coaching the Mental Game. By H. A. Dorfman

Glad to hear it. It may seem a bit dry and irrelevant at first, but it really is about how to train your mind to deal with the stress of performance. Hopefully you are into sports.

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Hey look at this! I'm all caught up for the first time.

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I really appreciate you taking the time to answer these questions.

I have another.

Let's say I have a 65% win rate trading CL with 2 lots. I have an 8-tick scale and a 12-tick scale and a 15-tick stop.

On my winning trades I very often see much greater favorable excursion potential.

The question is: when does it become reasonable to use a runner?

I received the book "Coaching the Mental Game" today and was very pleased by the note.

Thanks again to both you and Mike.

Cheers,
Josh

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Ft71
Using the sports analogy and deliberate practice model.
Any drills a trader could isolate or work on to improve their trading? Like the batting cage, shootings dry fire, golf putting, punching mitts, shadow boxing, etc.
building that inuition and subconscious competence.


I heard you and Dionysous mention DOM reading at speed(I've yet to use the DOM, and will eventually).

Risk seems to be the largest issue for most people, retail or prop. Maybe the marble game 2-3x week. And. Or the market at speed in replay while identifing risk or looking for patterns?
Homework levels seem to be the other ...maybe HYPO1,2,3 multiple markets per day then check back. Relating price action to Hvns and Lvns.
Maybe a mental though process.


How would you structure such? Frequency? Intensity? Duration?
I am highly impressed by Stage5 commitment to helping their traders and am going to contact them this week because of it.

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hCVaEAL View Post
You talked today about error tracking being a big differentiator between retail and prop/pro traders. Can you give some examples of errors which when tracked can really help a retail trader like me (who doesn't track any errors and can only guess that you mean more than fat thumb errors)? Does the platform (stage5) help?

Thanks for the fantastic webinars!

Found the answer in an older FT71 webinar, The Holy Grail - Expectancy & Habits, where FT talks about errors and tracking more.

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Hi FT,

Looooong time twitter follower, I am having trouble with a standardized date (to use across the board) to roll Treasury futures because the pace of the roll is always different and for instance during this roll, some treasuries had a later or slower roll while others had an earlier or quicker one. The indexes are much easier with with the second Thursday of H,M,U and Z, unless I am missing something.

What day do you use?

Thanks,

Chris

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bathrobe View Post
Hi FT,

Looooong time twitter follower, I am having trouble with a standardized date (to use across the board) to roll Treasury futures because the pace of the roll is always different and for instance during this roll, some treasuries had a later or slower roll while others had an earlier or quicker one. The indexes are much easier with with the second Thursday of H,M,U and Z, unless I am missing something.

What day do you use?

Thanks,

Chris

I roll with volume.

JD

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Devil Man View Post
I roll with volume.

JD

Thank you, I should have added I am trying to use a specific date so the data will be adjusted, this is a feature you have to build into continuous charts in TT, which is what I am asking for, it is built in to IQ Feed.

Thank you,

Chris

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bathrobe View Post
Hi FT,

Looooong time twitter follower, I am having trouble with a standardized date (to use across the board) to roll Treasury futures because the pace of the roll is always different and for instance during this roll, some treasuries had a later or slower roll while others had an earlier or quicker one. The indexes are much easier with with the second Thursday of H,M,U and Z, unless I am missing something.

What day do you use?

Thanks,

Chris

Just use the notice day which was yesterday.
During the day volume was still in March but by the end of the day June volume was basically identical to March.
Today June is at full throttle.

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Hi @FuturesTrader71

One question regarding S5T datafeed, OEC.
You advertise that OEC is unfiltered but you continue to use IQFeed, like many of your clients.

If you offer an unfiltered datafeed, why continuing to use a paid one when both should be identical since they are unfiltered?
One might think that you not trust OEC.

Regards.

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arnie View Post
Hi @FuturesTrader71

One question regarding S5T datafeed, OEC.
You advertise that OEC is unfiltered but you continue to use IQFeed, like many of your clients.

If you offer an unfiltered datafeed, why continuing to use a paid one when both should be identical since they are unfiltered?
One might think that you not trust OEC.

Regards.

I am not Morad, but there is more to a data feed than unfiltered data. For example, breadth tickers, historical data, continuous contracts, etc.

Mike

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Joshua1984 View Post
I really appreciate you taking the time to answer these questions.

I have another.

Let's say I have a 65% win rate trading CL with 2 lots. I have an 8-tick scale and a 12-tick scale and a 15-tick stop.

On my winning trades I very often see much greater favorable excursion potential.

The question is: when does it become reasonable to use a runner?

I received the book "Coaching the Mental Game" today and was very pleased by the note.

Thanks again to both you and Mike.

Cheers,
Josh

Hey Josh,

Based on the numbers you provide, your Expectancy = (0.65x20 ticks) - (0.35x30 ticks) = 2.5 ticks per trade. Assuming you are paying around $5 per turn on that product, then you are giving up another 0.5 ticks per trade. This puts your net expectancy at 2 ticks per trade.

At that expectancy, it wouldn't be so bad if you had plenty of opportunities in a day to stay ahead of your losses. If your expectancy stays consistent, then you would size up and begin to see a return on your time that is worthwhile. This is more of a scalping/very short term expectancy.

Now, if every once in a while you are able to allow a runner to go for say 2x an average rotation on a 1 min for 30 ticks and that happened in 10% of your winners, then your expectancy looks like (0.1x30 ticks)+(0.55x20 ticks)-(0.35x30 ticks) = 3.5 ticks or a 40% improvement in your expectancy. This is why I scale out. This assumes that you move your stop to entry once the scale happens at 8 ticks and so your loss figures remain the same.

Does that make sense? Now you are digging into the nuances of trade management.

FT71

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KahunaDog View Post
Ft71
Using the sports analogy and deliberate practice model.
Any drills a trader could isolate or work on to improve their trading? Like the batting cage, shootings dry fire, golf putting, punching mitts, shadow boxing, etc.
building that inuition and subconscious competence.


I heard you and Dionysous mention DOM reading at speed(I've yet to use the DOM, and will eventually).

Risk seems to be the largest issue for most people, retail or prop. Maybe the marble game 2-3x week. And. Or the market at speed in replay while identifing risk or looking for patterns?
Homework levels seem to be the other ...maybe HYPO1,2,3 multiple markets per day then check back. Relating price action to Hvns and Lvns.
Maybe a mental though process.


How would you structure such? Frequency? Intensity? Duration?
I am highly impressed by Stage5 commitment to helping their traders and am going to contact them this week because of it.

Hey Kahuna,

I won't get into exercises here. This will be covered in depth soon. Exercises can be taken out of context and require a foundation first.

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bathrobe View Post
Hi FT,

Looooong time twitter follower, I am having trouble with a standardized date (to use across the board) to roll Treasury futures because the pace of the roll is always different and for instance during this roll, some treasuries had a later or slower roll while others had an earlier or quicker one. The indexes are much easier with with the second Thursday of H,M,U and Z, unless I am missing something.

What day do you use?

Thanks,

Chris

I go with the notice I receive from CME and my clearing firm. It has been shifting lately. A good indication is to also put the current and next month on a quoteboard and track volume as was suggested by others.

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bathrobe View Post
Thank you, I should have added I am trying to use a specific date so the data will be adjusted, this is a feature you have to build into continuous charts in TT, which is what I am asking for, it is built in to IQ Feed.

Thank you,

Chris

Ok. I see your issue now. I generally go with the last day Friday prior to the expiration month. For example, on Friday, August 29th, 2014, Z4 become front month and U4 became second month.

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arnie View Post
Hi @FuturesTrader71

One question regarding S5T datafeed, OEC.
You advertise that OEC is unfiltered but you continue to use IQFeed, like many of your clients.

If you offer an unfiltered datafeed, why continuing to use a paid one when both should be identical since they are unfiltered?
One might think that you not trust OEC.

Regards.

Hey Arnie,

The data feed from the S5 Trader platform is unfiltered and has been tested against other broker feeds. However, a broker feed is NOT intended to be a great feed for accurate tick data no matter who the broker is. The reason for this has to do with technology than anything else. The API that manages orders and quotes are not the same as the type of technology that you would have providing your data from DTN IQFeed or others. It would take a lot of typing to explain it, but broker feeds are not ideal to power charts in real time. The S5 Trader's feed is as good as we have tested before we stood behind it.

This is in addition to the fact that you don't get much historical data with a broker feed as well as cash indices like Vix, Transports, etc.

Your comment regarding me not trusting the data is not true. I simply don't compromise when it comes to data and so I go with DTN IQFeed and have for a long time. Their data is automatically equalized and adjusted, I get 120 days of tick data and unlimited 1 min data, etc.

If my data is what I'm trading from, then I choose to get as comprehensive a data set as possible. The S5 Trader feed is not designed for that and shouldn't be. Imagine what it would be like for someone to be downloading 120 days of tick data on the ES while you are trading on that same server. Not fun!

I hope that makes sense.

Best,
FT71

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Big Mike View Post
I am not Morad, but there is more to a data feed than unfiltered data. For example, breadth tickers, historical data, continuous contracts, etc.

Mike

Just saw your reply and I agree.

Thanks!

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  #427 (permalink)
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Hi, do you have any particular strategy for the 3pm to 4pm hour? was pretty volatile today. Do you think the imbalances work?

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  #428 (permalink)
new york, ny
 
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Hi, sir one more follow up question about your videos - awesome stuff and excellent calls!

When you say the market will go up to settle overnight inventories on the short side, you generally mean in the first ten minutes after the 930 open correct? I have noticed sometimes it takes a shorter amount of time then it starts moving in the direction you say overall.

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  #429 (permalink)
Vancouver Canada
 
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Hi FT71,

You rock.

Your style of teaching - relating trading with other aspects of life - is brilliant. It's quite rare to find a person like you with Talent yet Humble & Generous. I learnt a lot from your gracious free teaching and even more from your paid webinars.

It's a shame that I am not in a position to become stage 5 client to get more direct feedback from you as I live in BC, Canada.

I am considering switching from Ninja to Investor RT and begin to atleast use your charts. It's not an easy decision though as I like Ninja's ecosystem and my preferred tools like JigSaw and Rancho.

Is there a way to have your guidance and support without having an account with stage 5? Or atleast access & learn from your feedback to other stage 5 traders? I viewed 3 such videos from your website FT71 and they are priceless!

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  #430 (permalink)
Norwich, UK
 
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Hi FT71,

I appreciate your effort & time you put in S5, it's a nice objective and very rewarding work.

@Big Mike,

Only kind thoughts for what you do and don't question your motives for this forum, for trying to change something and for trying to make a difference. I know you put a lot of passion here and having your haters is normal on the success path don't get intimidated by threats.

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  #431 (permalink)
Minneapolis, MN
 
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Hi FT,

I am importing my zig zag study into excel on 60 minute chart. I had the zig zag setting at 4 ticks. I then proceeded to take the average absolute value of the ZZ change to get a rotation of around 21 points. Does this average rotation size relative to the timeframe seem correct or am i missing something?


If someone else can help too that knows the answer feel free to jump in.

Thanks.

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I'm getting caught up on the thread. Sorry for my absence. I'm working on a billion things at the same time.

I wanted to see if any of you attended last Friday's AMA that I held and posted on Twitter. I would like to have your feedback if possible. Let me know if you didn't attend or haven't gotten a copy of the recording.

I will respond to the various questions over the next couple of days.

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elitetradernyc View Post
Hi, do you have any particular strategy for the 3pm to 4pm hour? was pretty volatile today. Do you think the imbalances work?

I don't use the closing imbalances as information. If you plot the imbalance against the last 45 mins of futures trading, you may not see a correlation. I believe it is just flashy, but not really something to trade on. That is just my opinion and am happy to be taught something different.

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  #434 (permalink)
 
 
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Narcissus View Post
Hi FT71,

You rock.

Your style of teaching - relating trading with other aspects of life - is brilliant. It's quite rare to find a person like you with Talent yet Humble & Generous. I learnt a lot from your gracious free teaching and even more from your paid webinars.

It's a shame that I am not in a position to become stage 5 client to get more direct feedback from you as I live in BC, Canada.

I am considering switching from Ninja to Investor RT and begin to atleast use your charts. It's not an easy decision though as I like Ninja's ecosystem and my preferred tools like JigSaw and Rancho.

Is there a way to have your guidance and support without having an account with stage 5? Or atleast access & learn from your feedback to other stage 5 traders? I viewed 3 such videos from your website FT71 and they are priceless!

Thanks for your kind words.

It is difficult to offer any real help by just looking from the outside in. That is what I was trying to do to help people back in 2009 and 2010 and is the key reason why I wanted to be part of creating Stage 5 Trading. Also, there is just a tremendous tax on my time, so the goal is to have a community of people that learns and then helps others (Our chat room is called Traders Helping Traders not FT Helping Traders for this reason).

You may be able to participate in the Trader Development Program when it is ready. It will be a bit of time before it is though. It is meant only for those who really want to do this as professionals and are committed. This is a way for me to make what I'm doing as accessible as possible.

It is too bad that Canada is so restrictive. In helping their brokerage industry, they are hurting traders, in my opinion.

Best,
FT71

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mabr0408 View Post
Hi FT,

I am importing my zig zag study into excel on 60 minute chart. I had the zig zag setting at 4 ticks. I then proceeded to take the average absolute value of the ZZ change to get a rotation of around 21 points. Does this average rotation size relative to the timeframe seem correct or am i missing something?


If someone else can help too that knows the answer feel free to jump in.

Thanks.

Ok. So I have a few comments:
  1. You are using 24 hours for the study. Will you be trading during the 24 hours?
  2. If not, then you should study the time frame you are trading in
  3. Doing an average is not useful and is very deceptive in trading. Averages assume that the distribution is gaussian. In real life, it rarely ever is. Instead, you need to find the mode and then the 1 & 2 standard deviations. I have attached an image to show you something more useful

If your statistical study question is, "what is the 'normal' zigzag rotation on a 24 hr 60 min chart with up and down rotations separated?" then your answer is in the image and is shaded in green with the prevalent (most common or mode) rotation shown in red. The orange shows the 2nd standard deviation or what is happening in this data set 95.45% of the samples.

Here is the image explanation:

Normal up rotations are between 2 and 7 points inclusive. Unusual rotation starts above 8 pts inclusive
Normal down rotations are between -1 and -6 points inclusive. Unusual down rotations start above -7 pts inclusive

Because you included the overnight trading session, your most common rotation size is +3 pts and -2 pts.



Hope that all make sense.

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  #436 (permalink)
Minneapolis, MN
 
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Hi FT thanks for your last reply...I have one additional question that i have been struggling with over the last several months so maybe you can shed some light on the best approach for my situation:

I typically do not trade anything greater than 2 contracts so campaigning or scaling at 1-2 points to get my theoretical avg increased does not seem like the best approach for the amount of size i trade ATM. As a result, i have implemented a trailng stop strategy based upon multiple timeframe analysis. Typically, i will start with a 1 lot then add to the position if it is going with me then i'll look to scale my initial position at locations such as HOD or LOD/IB/OS etc. (fairly subjective scales which is a concern). THe vast majority of time my first scale is not done until i can at least get an add on my position. The second half of position is managed on 5 min timeframe using a form of candles i have found useful and a more systematic approach. The question really is: do you think this approach can be improved upon with my initial position? Would you suggest implementing some type of autobreakeven when product gets to x amount so my initial entry is protected?

I should note: I use fairly systematic stop sizes for a majority of entries but will vary stop amounts slightly on certain trades depending upon velocity of moves and adjust risk accordingly.

Thanks again for all your help.

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Hello Traders,

I have been releasing a #TradeWisdom segment every Wednesday on my YouTube channel and it occurred to me that I should be posting a copy here for this thread. It might generate questions or give you ideas on how to get past certain hurdles.

There have been 6 episodes so far. They are very short and worth watching.

Here are the previous 5:



The prior segments can be found here:

Episode 1: (starts 12 minutes in) Multi-Tasking and Focus During Crucial Trading Times


Episode 2: Champion On Sim but Trading On Whim


Episode 3: (starts 11 mins in) A Gamble In Every Trade


Episode 4: (starts 13 mins in) Streaks, Your Attitude and Vibration


Episode 5: Rough Patches

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mabr0408 View Post
Hi FT thanks for your last reply...I have one additional question that i have been struggling with over the last several months so maybe you can shed some light on the best approach for my situation:

I typically do not trade anything greater than 2 contracts so campaigning or scaling at 1-2 points to get my theoretical avg increased does not seem like the best approach for the amount of size i trade ATM. As a result, i have implemented a trailng stop strategy based upon multiple timeframe analysis. Typically, i will start with a 1 lot then add to the position if it is going with me then i'll look to scale my initial position at locations such as HOD or LOD/IB/OS etc. (fairly subjective scales which is a concern). THe vast majority of time my first scale is not done until i can at least get an add on my position. The second half of position is managed on 5 min timeframe using a form of candles i have found useful and a more systematic approach. The question really is: do you think this approach can be improved upon with my initial position? Would you suggest implementing some type of autobreakeven when product gets to x amount so my initial entry is protected?

I should note: I use fairly systematic stop sizes for a majority of entries but will vary stop amounts slightly on certain trades depending upon velocity of moves and adjust risk accordingly.

Thanks again for all your help.

You can campaign with 2 contracts because you can keep adding to the first core contract and scaling out as it breaks out of obstacles. However, it is really key to make sure that you always know where your exit point is if the market turns. I think your strategy sounds pretty substantial.

My preference is that you continue to actively manage the position as you have been. HOWEVER.....I'm making a big assumption that you are disciplined and in fact do what you plan to do. This approach is a disaster, in my experience, if you allow yourself to bend your rules here and there. Overall, you are trading the way a prop trader would trade. Prop traders stay active with trade management and don't resign the position to a preset hard stop.

Always base your overall stop size on the average price of the position once you added the 2nd lot. It would be great if you had a sample of live S5 Trade Analyzer output to look at the cold hard stats.

Good luck with it.

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  #439 (permalink)
Minneapolis, MN
 
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FuturesTrader71 View Post
You can campaign with 2 contracts because you can keep adding to the first core contract and scaling out as it breaks out of obstacles. However, it is really key to make sure that you always know where your exit point is if the market turns. I think your strategy sounds pretty substantial.

My preference is that you continue to actively manage the position as you have been. HOWEVER.....I'm making a big assumption that you are disciplined and in fact do what you plan to do. This approach is a disaster, in my experience, if you allow yourself to bend your rules here and there. Overall, you are trading the way a prop trader would trade. Prop traders stay active with trade management and don't resign the position to a preset hard stop.

Always base your overall stop size on the average price of the position once you added the 2nd lot. It would be great if you had a sample of live S5 Trade Analyzer output to look at the cold hard stats.

Good luck with it.

thanks FT for the reply...grateful for your generosity throughout the years.

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  #440 (permalink)
Los Angeles, CA, USA
 
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FuturesTrader71 View Post
Hello Traders,

I have been releasing a #TradeWisdom segment every Wednesday on my YouTube channel and it occurred to me that I should be posting a copy here for this thread. It might generate questions or give you ideas on how to get past certain hurdles.

There have been 6 episodes so far. They are very short and worth watching.

Thanks Morad! I really enjoyed watching these segments, and I look forward to watching more.

Do you have any words of wisdom on handling winning streaks? I have experienced several during my nearly 2 year career as a trader, and I wasn't sure how best to handle them. I noticed that I get feelings of elation, combined with fear of becoming overconfident in my trading. Things are a bit different during my current winning streak because I have lost a lot of money previously (so I feel like I deserve to win my money back) and I am currently trading sim until I build up a solid track record and accumulate a larger trading stake from my second job. However, the feelings I described mostly apply to my previous winning streaks with real money, albeit there weren't many big winning days, mostly many days of small wins.

BTW, any updates on the new training program?

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ganamide View Post
Thanks Morad! I really enjoyed watching these segments, and I look forward to watching more.

Do you have any words of wisdom on handling winning streaks? I have experienced several during my nearly 2 year career as a trader, and I wasn't sure how best to handle them. I noticed that I get feelings of elation, combined with fear of becoming overconfident in my trading. Things are a bit different during my current winning streak because I have lost a lot of money previously (so I feel like I deserve to win my money back) and I am currently trading sim until I build up a solid track record and accumulate a larger trading stake from my second job. However, the feelings I described mostly apply to my previous winning streaks with real money, albeit there weren't many big winning days, mostly many days of small wins.

BTW, any updates on the new training program?

Have you heard anyone ever say that it is easier to lose weight than to keep it off???? This is a similar issue.

The best way to handle a winning streak is to be clear about the habits that got you there and not to change them. Most people I have dealt with get a winning streak and all of a sudden they double their size and they really let their ego/monkey trade for them. They have it figured out so why do they need all of those rules that got them to win in the first place, right? Wrong!

On a winning streak, your goal is to do more of the same and to refine in very small ways. Look at your expectancy and set something slightly higher. Don't increase size until you feel like not increasing it puts you in a rut. If increasing size, then do so 1 lot at a time but only after the day has started and you are doing well at the beginning of it. So come in and put up a good trade or two and then add 1 more lot and manage it as part of the plan you already have. This is a better adjustment than trying to extend your targets or change how you manage trades, imo.

I hope that makes sense.

The Trade Development Program is still being built. I was killing myself for a while to get it done while I do a bunch of different things, but I have decided to slow down and really give the TDP its due attention. So I'm not concerned with when it gets released. It is probably the last thing I will do for the public; it will be that good, I think.

Watch your risk now that you are winning! Don't let that monkey deceive you into thinking that you are special now that you are making money trading. You hear me?!?!!

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Hey traders,

Hoping that you are all taking advantage of this movement in the middle of August.

I posted another #TradeWisdom episode yesterday about Discipline. Please feel free to share the video or embed it where you seen necessary.

Best,
FT71


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FYI: I'm holding an open AMA session (these happen once per month) today at 12 PM CT / 1 PM Eastern. You can join it by following this link: https://attendee.gotowebinar.com/register/5264437853132469249

It will be recorded and we can send a copy out to you if you register but don't attend.

Cheers!
FT71

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@FuturesTrader71,

Just wanted to thank you for the #TradeWisdom series of videos.

I'm finding a lot of value in the topics covered in that series and appreciate the "realness" and honesty in them.

Thank you

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@FuturesTrader71 loved that video a couple years back on the micro FX for the CME. I know you have been pushing of the micro ES but do you think the M6E is still something you would recommend to people or is the liquidity totally dead?

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sixsmith07 View Post
@FuturesTrader71 loved that video a couple years back on the micro FX for the CME. I know you have been pushing of the micro ES but do you think the M6E is still something you would recommend to people or is the liquidity totally dead?


I have been trading M6E every day since July and never get slippage.

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@FuturesTrader71

Nice AMA today, thank you

Do you have a general idea on the cost of your forthcoming university course ?

Thank you

@Uozob (twitter)

-William

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TheTradeSlinger View Post
@FuturesTrader71,

Just wanted to thank you for the #TradeWisdom series of videos.

I'm finding a lot of value in the topics covered in that series and appreciate the "realness" and honesty in them.

Thank you

Glad to hear it! I'm working on a big one that will hopefully be out next Wednesday.

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sixsmith07 View Post
@FuturesTrader71 loved that video a couple years back on the micro FX for the CME. I know you have been pushing of the micro ES but do you think the M6E is still something you would recommend to people or is the liquidity totally dead?

As Joshua indicated, the liquidity is not an issue in that product because it is intended for live practice. You wouldn't want to trade more than 3-5 contracts in there and there is plenty of liquidity for that, imo.

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WilleeMac View Post
@FuturesTrader71

Nice AMA today, thank you

Do you have a general idea on the cost of your forthcoming university course ?

Thank you

@Uozob (twitter)

-William

I don't. It is pretty comprehensive and is intended as a minimum standard of training to trade futures, so it is not meant to be a one-off DVD set or something like that. It is more community based and the pricing is expected to be incremental so folks don't have to commit up front if they don't want to. Does details haven't been worked out. I'm more focused on content right now.

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I figured many would want to know that there was a public AAQ/AMA yesterday. In it, I walked someone through a trading scenario as the result of a question about trading setups.

Please ask questions here and your comments are welcome:


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Thank you for the wisdom videos!

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FuturesTrader71 View Post
I figured many would want to know that there was a public AAQ/AMA yesterday. In it, I walked someone through a trading scenario as the result of a question about trading setups.

Please ask questions here and your comments are welcome:


Just finished viewing your AMA and love that you are actually letting people ask questions themselves and not reading their questions. Makes a big difference and wish other webinars do the same, much more interesting and a lot less boring! !

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Hello,

In case you missed it, here is a link to the Open AMA that was done yesterday, November 5th:



If you want to be notified of future live AMA webinars, recordings, tools and other features, please join the list here: <h1>We are cleaning up!</h1> | FuturesTrader71

Let me know if you have comments or questions.

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Ft the discussion about Bookmap was usefull. The ability to make level2 visual.

I've been integrating it as icing on the cake.
Basically using it at pre identified key levels.

The Traders wisdom sessions are quite useful and great.
Thanks for all.

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KahunaDog View Post
Ft the discussion about Bookmap was usefull. The ability to make level2 visual.

I've been integrating it as icing on the cake.
Basically using it at pre identified key levels.

The Traders wisdom sessions are quite useful and great.
Thanks for all.

Kahuna,

I got so many questions about S5-Bookmap that I have scheduled a Convergence Tuesday Spotlight on it for tomorrow at 4:15 PM ET. I use it every day. I will post details on the next post.

Thanks for your feedback. Always appreciated!

FT71

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Hello folks,

I hope this is appropriate, but felt that you won't want to miss it. Webinar starts November 10th @ 4:15 PM Eastern US.

I'm holding a Convergence Tuesday event tomorrow after the pit close to discuss reading order flow and stalking trades. The goal here is to address a lot of questions that came up from last Thursday's AMA event that I held.

This is not a marketing thing. There will be no vendors talking. This is just me going through my process for stalking a trade and managing it whether winning or losing.

Here is the link to register: https://attendee.gotowebinar.com/register/583839945292941826


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  #458 (permalink)
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Great convergence. I as well as others appreciate your efforts to help the retail traders.
I got a number of things out of it as you verbalized your thought process.
The lingo made the steps memorable as well.

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Thanks FT71 for the Order Flow & Stalking Trades webinar. I watched it on your You Tube channel. I use the Jigsaw DOM as opposed to Bookmap but order flow is order flow. Great information as always, thanks again.

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Hey traders,

I'm posting this here just to keep the thread information consistent and in one place. The recording for the Reading Order Flow and Stalking Trades Webinar can be found here:



The steps recommended to follow this approach are as follows:

1. If you don't already have one, get a FREE demo account with live data on the S5 Trader (the platform that FuturesTrader71 uses to trade live). You can get that here
2. Get a risk-free 14-day trial of the S5 BookMap here
3. To get some detailed information on your sim or live trade performance, consider using the FREE S5 Trade Analyzer. You can get a copy of it here
4. Watch the Trader Bite every morning to help shape a consistent view on the trading day. Subscribe to the YouTube channel to get notices here
5. Pay attention to the details provided at the end of this Webinar with regards to ways you can improve your trading and the tools you are using

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Hi FT,

I dont understand why enter 1 contract for position sizing in the presentation. I would love to see how you manage risk with more than 1 contract.

You done your homework. It be fantastic to see where you scale in and scale out.

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Hey Traders,

I want to keep you posted on a couple of public videos that were done last week. The first is Part 2 of of the "Reading Order Flow and Stalking Trades" event. The intent of this session was to actually set up, stalk, take and manage a live trade or 2. It turned out to be a trend day and there was too much going on, so I intend to do another one. You might still find this useful still as I cover my entire approach to stalking a trade.

Here it is:


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This recording is from December 4th. It is a trader intervention. The purpose of this is to go over a trader's performance and ultimately provide at least 3 imperatives that the trader must focus on going forward in order to see improvement.

I got strong feedback on this video. It looks strictly at performance metrics from our Trade Analyzer (legacy product shown; a new HTML5 version will be released in Q2 2016).

Here are Viraj's 3 imperatives for next time:
  1. Don’t trade until 10:30 or so on Wednesdays
  2. Adjust your R:R so that it is more realistic until you are able to trade more than 1 contract. Then you can keep the 1st lot at the normal R:R and the 2nd lot discretionary or extend it to less than 40 ticks
  3. Keep your trade management scheme fixed. Put the trade on and watch the charts instead of the DOM. You are taking on the risk of putting on a trade but then miss out on the reward by scratching it. Chances are, your trades don’t fail as much as you think

Have a look at the video and let's have a discussion about it:

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torroray View Post
Hi FT,

I dont understand why enter 1 contract for position sizing in the presentation. I would love to see how you manage risk with more than 1 contract.

You done your homework. It be fantastic to see where you scale in and scale out.

Hi Torroray,

The reason I cut the size down to a 1 lot or do live trades on a $5k or 10k account is because I have to hold myself to the issues and approach that I would suggest for those listening. It is a bit like those health magazines where you see a guy who is totally ripped showing you how to do a squat, but he is using 50 lbs because that is what is relevant to the reader when he can squat 500 lbs. I'm not saying I'm much better, but it is not as relevant (based on feedback I got) to swing 20, 30, 40 lots when few can do so.

I hope that makes sense.

PS: 1 lots are much tougher to manage than a 40-lot.

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Hi Torroray,

The reason I cut the size down to a 1 lot or do live trades on a $5k or 10k account is because I have to hold myself to the issues and approach that I would suggest for those listening. It is a bit like those health magazines where you see a guy who is totally ripped showing you how to do a squat, but he is using 50 lbs because that is what is relevant to the reader when he can squat 500 lbs. I'm not saying I'm much better, but it is not as relevant (based on feedback I got) to swing 20, 30, 40 lots when few can do so.

I hope that makes sense.

PS: 1 lots are much tougher to manage than a 40-lot.

Hi FT,

I am sorry but I heard you mentioned many times in your webinar that its hard trading with 1 lot and you mentioned this recently in Trader Intervention you with TopStep Trader. For beginner with $5K account can choose different instrument other than ES with smaller tick size for managing risk.

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  #466 (permalink)
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FuturesTrader71 View Post
  1. Don’t trade until 10:30 or so on Wednesdays
  2. Adjust your R:R so that it is more realistic until you are able to trade more than 1 contract. Then you can keep the 1st lot at the normal R:R and the 2nd lot discretionary or extend it to less than 40 ticks
  3. Keep your trade management scheme fixed. Put the trade on and watch the charts instead of the DOM. You are taking on the risk of putting on a trade but then miss out on the reward by scratching it. Chances are, your trades don’t fail as much as you think

Thanks FT. How do we create a fixed trade management scheme for each markets? I'm guessing trading a 2-lot and 3-lot will have different schemes. Some example would be helpful.

Cheers

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tradernikki View Post
Thanks FT. How do we create a fixed trade management scheme for each markets? I'm guessing trading a 2-lot and 3-lot will have different schemes. Some example would be helpful.

Cheers

I am also interested in the outcome for this position sizing strategy

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  #468 (permalink)
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@FuturesTrader71

Mr Morad,

Thank you for all you do

Merry Christmas

Peace

-William

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  #469 (permalink)
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Excellent information and very well-presented.

the price for an elite membership here at futures.io is a pittance compared to the value that I've gotten here ... the knowledge that I have gained.

My biggest takeaway is that my trading plan is pretty damned good, but I need to work on some other stuff.

Thanks Big Mike & TF71.

Best,
a

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Thank you Morad for all the educational resources you've provided over the years. I've spent the last few weeks watching your videos from various sites and reading your threads.

Can anyone please tell me what the indicators are in the windows bellow his charts? I think the part of the third indicator window is cumulative delta. The second indicator window shows the rotation size but I'm not sure of the indicator name. I'll be using NinjaTrader, so I'm looking for equivalent indicators as I'm just starting out.


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Hello traders,

I would like to bring the next public AMA to your attention. Please sign up and ask your question here

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adam777 View Post
Thank you Morad for all the educational resources you've provided over the years. I've spent the last few weeks watching your videos from various sites and reading your threads.

Can anyone please tell me what the indicators are in the windows bellow his charts? I think the part of the third indicator window is cumulative delta. The second indicator window shows the rotation size but I'm not sure of the indicator name. I'll be using NinjaTrader, so I'm looking for equivalent indicators as I'm just starting out.



FuturesTrader71 View Post
Hello traders,

I would like to bring the next public AMA to your attention. Please sign up and ask your question here

@adam777
Perfect chance for you to go straight to the sources and ask him this Thursday February 21st. Be sure and sign up and submit your question ahead of time even so he will be sure to get to it.

Ron

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Buy Low And Sell High (read left to right or right to left....lol)
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Hello Traders,

I'm preparing for a talk for Futures.io and I want to make sure the content is relevant to you. Can you please take a moment to give your opinion?

FuturesTrading71 | What do you think troubles you the most in trading?

Thanks!
FT71

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I forgot to post the recording of the last AMA Webinar for those who missed it or didn't register. Thanks for watching it and hope you pick something up that is relevant to you.


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  #475 (permalink)
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Classic wedge setup during London session with a Trend Channel Line (TCL) Over Shoot & Reversal @8:30 lead to last Friday's rocket launch. I would love to have software that scanned the markets in real time for 3 push wedges (or other formations) with TCLs so that I could look for an OS and trade these setups exclusively! The market scanners which I am aware of are all only EOD daily versions. Does anyone know of a 5 min. intraday market pattern scanner which can effectively identify wedges as they are forming?


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  #476 (permalink)
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Hello,

I often get confused as to where the proverbial LIS (Line in sand) is on a pullback from an impulsive move up (for this example: can be used in similar context in down move obviously). If for example we are trading above the session mid after consolidation/chop around mid and have an impulsive move up, would the trade "idea" for stalking longs on a pullback be invalidated if we breach the 50% retrace of that impulsive move up? The reason for asking obviously relates to stop placement and position sizing.

Secondly on a pullback from an impulsive move up do you typically place a resting limit order against initially high liquidity on the book and then add to the trade after you see absorption and additional large buying coming in (such as >209 lots in ES)?


Thirdly, how on bookmap do you effectively execute a long after you see large aggregated volume buying stepping into the market? Do you just lift the offer right away or wait for a micro pullback to place limit long via the zipper formations you talk about all the time?

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where can i find all the videos?

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where can i find all the videos?

Hi Bob,

Which videos are you looking for?

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Hello traders,

This is the latest Public AMA which was held yesterday at 4:30 PM Eastern US. Please let me know if you have questions or comments.

I haven't been receiving notifications from futures.io, so I haven't kept up. I think that is fixed now.


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  #480 (permalink)
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I have an ES chart set up according to @FuturesTrader71 guidelines :
2t Renko with Zig Zag based on Harmonic Rotations ( short timeframe- eg 5 min)

In ES :
the zig zag line keeps forming until there is a pullback of 6t.
A normal rotation is around 3pts.
A bigger than normal rotation is around 5pts.

My question to anyone familiar with his current stats is : What are the equivalent numbers in CL ?

Thank you.

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@Stillgreen

IIRC FT71 said rotations on /CL using a chart one minute or less is 15 ticks (ie Zig Zag)

Perhaps @FuturesTrader71 will clarify my recollection

-William

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Stillgreen View Post
I have an ES chart set up according to @FuturesTrader71 guidelines :
2t Renko with Zig Zag based on Harmonic Rotations ( short timeframe- eg 5 min)

In ES :
the zig zag line keeps forming until there is a pullback of 6t.
A normal rotation is around 3pts.
A bigger than normal rotation is around 5pts.

My question to anyone familiar with his current stats is : What are the equivalent numbers in CL ?

Thank you.

Hi Stillgreen,

For Crude Oil using the 30 most recent PIT only sessions with 1 min time frame and reversals built on 5 bar peaks, we get a typical rotation extremes of 20 ticks for up and down. Typical meaning that this represents 1 standard deviation or 68.27% of the sample set.

If you move up to 5 min bars with the same parameters, the typical rotation increases to 43 ticks. The most common rotation up on CL is 0.33 up and 0.22 down on that time frame. On 5 min bars, I would consider 63 ticks upu and 75 ticks down to be extreme and is likely to only happen 4.5% of the time.

Is that what you are looking for?

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I wanted to alert everyone in the group that I will be on with Futures.io on Tuesday at 4:30 PM Eastern US time. Click here to join

See you there!

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FuturesTrader71 View Post
Hi Stillgreen,

For Crude Oil using the 30 most recent PIT only sessions with 1 min time frame and reversals built on 5 bar peaks, we get a typical rotation extremes of 20 ticks for up and down. Typical meaning that this represents 1 standard deviation or 68.27% of the sample set.

If you move up to 5 min bars with the same parameters, the typical rotation increases to 43 ticks. The most common rotation up on CL is 0.33 up and 0.22 down on that time frame. On 5 min bars, I would consider 63 ticks upu and 75 ticks down to be extreme and is likely to only happen 4.5% of the time.

Is that what you are looking for?

Hi FT71 : on the 1 minute time frame 20 ticks rotations are normal, but how many ticks pullback do you allow on a zigzag chart before a zig reverses to a zag ? Also what is considered an extreme rotation on the 1 minute chart ?
Thank you for this information, and for all your endeavors. You are one of the most inspiring presences in trading education.

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Stillgreen View Post
Hi FT71 : on the 1 minute time frame 20 ticks rotations are normal, but how many ticks pullback do you allow on a zigzag chart before a zig reverses to a zag ? Also what is considered an extreme rotation on the 1 minute chart ?
Thank you for this information, and for all your endeavors. You are one of the most inspiring presences in trading education.

on a 1 min time frame using 252 sessions (1 year), the ZigZag pullback setting is 11 ticks. Does that answer your question?

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Traders,

I'm hosting a Convergence Event on Wednesday, June 15th @ 4:30 PM Eastern to pick the brains of 2 automated traders who are running a fund in Connecticut. One has a heavy institutional trading background and the other was a head of software development at Microsoft.

This is expected to be a rare view into the process of creating a fully algorithmic trading strategy. I will be interviewing them to learn about their history, process, pitfalls, success and what's next.

You can join it by registering here

Let me know if you have questions you want me to ask.

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FuturesTrader71 View Post
Traders,

I'm hosting a Convergence Event on Wednesday, June 15th @ 4:30 PM Eastern to pick the brains of 2 automated traders who are running a fund in Connecticut. One has a heavy institutional trading background and the other was a head of software development at Microsoft.

This is expected to be a rare view into the process of creating a fully algorithmic trading strategy. I will be interviewing them to learn about their history, process, pitfalls, success and what's next.

You can join it by registering here

Let me know if you have questions you want me to ask.

Looking forward to it.

Can I ask if these guys are from Red Ivy, the people on your site that sell automated trading systems?

If so, will they present any actual customer account results? If not, is there any chance you can nudge them to do that?

Are they able to take customers from outside the US?

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UpsideDown View Post
Looking forward to it.

Can I ask if these guys are from Red Ivy, the people on your site that sell automated trading systems?

If so, will they present any actual customer account results? If not, is there any chance you can nudge them to do that?

Are they able to take customers from outside the US?


LOL...well you have been snooping around. Very sharp!

To answer your question, I have to start by stating that trading futures is not suitable for all investors and past performance is not indicative of future results (sorry...regs are regs).

Yes, they are the Red Ivy guys. I wouldn't bring anyone onto a webinar whom I don't believe is legit and do as they say. So it is imperative that I see what they are doing first and I have.

The system on the Stage 5 site is exclusive to S5 and has undergone a trade-by-trade review by me. In its current form, the only customer who traded it was S5 itself on its house account and this only started in early May. Watching the system trade triggered the idea that I should have them on to talk about how they got there. They don't touch it. It does everything on its own.

So with regards to your questions, the only account that can be discussed is S5's house account. Anthony from S5 will be on to ask questions about the customer side of things; I suggest you ask him about how that account is doing.

Yes, S5 takes customers from outside the US all the time. There are certain countries/jurisdictions that can't be opened, but those are very limited. The Red Ivy Advisors CTA itself can take customers who are not restricted by US regulations as well. You can ask them about the CTA if you like.

Ping me during the webinar with your Futures.io name and I will take your question to them.

Cheers!

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  #489 (permalink)
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I watched the webinar and to be honest, I thought I'd ventured into another dimension.

You are selling a system that is "only available to 300 people" (marketing:creating scarcity). Yet at the same time, you say it's 'against regulations' to show real results.

Did someone kidnap the real FT71 and put DayTrade2Win in his place?

We all know that with real results these guys could attract serious fund money but instead, they claim to be looking for 300 retail traders. Are they a registered charity or something?

How on earth is it even compliant to be pushing this nonsense?

This is Pure fairy dust. I am very disappointed and I have been following you for a long time.

You even posted a plug to it here in an AMA, although no-one asked you a question. Maybe this is PMA. Plug Me Anytime. When you first posted, you were posting as if it was a session with a couple of automated traders, when in fact it was a couple of guys trying to sell stuff. You only owned up when I asked if it was the guys from your site.

Prove it works FT71. Also, tell us why they want to lease it to retail traders and not a bank for exponentially more $$$$.

The bottom line is people will lease this system and lose money. The lessors of the system will still make money. The broker will still make money.

This is everything that is wrong in the world of trading.

Vaarwel. Unsubscribed from everything you do.

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UpsideDown View Post
I watched the webinar and to be honest, I thought I'd ventured into another dimension.

You are selling a system that is "only available to 300 people" (marketing:creating scarcity). Yet at the same time, you say it's 'against regulations' to show real results.

Did someone kidnap the real FT71 and put DayTrade2Win in his place?

We all know that with real results these guys could attract serious fund money but instead, they claim to be looking for 300 retail traders. Are they a registered charity or something?

How on earth is it even compliant to be pushing this nonsense?

This is Pure fairy dust. I am very disappointed and I have been following you for a long time.

You even posted a plug to it here in an AMA, although no-one asked you a question. Maybe this is PMA. Plug Me Anytime. When you first posted, you were posting as if it was a session with a couple of automated traders, when in fact it was a couple of guys trying to sell stuff. You only owned up when I asked if it was the guys from your site.

Prove it works FT71. Also, tell us why they want to lease it to retail traders and not a bank for exponentially more $$$$.

The bottom line is people will lease this system and lose money. The lessors of the system will still make money. The broker will still make money.

This is everything that is wrong in the world of trading.

Vaarwel. Unsubscribed from everything you do.

Thanks for pitching in your opinion.

Now let me break down what you said just so that the facts remain facts rather than distortions based on your assumptions and conclusions.

1. I'm not selling anything. The Alchemy strategy was developed by others. I simply did a lot of due diligence over the last 2 years with these guys and Stage 5 is making it available at a low initial capital requirement as an automated trading strategy for anyone who is interested. Clearly you are not, so great. Don't be. The strategy has been trading and has been out there. The fact that it is now available at S5 is offending you in some way. It is not mandatory that you participate in it and it doesn't change one bit of my vision, values and goals for what I do. I'm really amused by how offensive you find it despite the fact that you know nothing about it.

2. It was brought up in the context of automated trading strategies. That was the subject of the webinar. A topic that has been in demand for years and I know the experts interviewed enough to feel comfortable to put them on.

3. You state that there is a limit of 300 people to create scarcity. Thanks for that assumption but your facts don't reflect what was said. I said that the strategy has a 300 UNIT limit because it is a market order strategy. Above this threshold, the slippage becomes too large and impact performance. 300 units is 600 contract market orders. It appears to me that it is not your intent to be factual (a requirement for trading) and to process what is being said objectively.

4. The regulations require S5 to provide the performance as shown. That was what was approved by the regulators and that's what I could show at the webinar. The results of S5's own live house account are definitely real and live, but I didn't want to show something that was not approved by Compliance. Again, I'm assuming you are not an expert on futures compliance, so I will disregard your snarky comments regarding me being kidnapped by someone.

5. These guys didn't have to make the program available. The program is exclusive to S5. They are running their fund and CTA just fine. The auto-trading strategy is not exactly the same as the fund's automated strategy. Here again, you didn't bother to get the facts. Clearly facts are not a priority. Red Ivy can stop providing signals to S5 at will and I'm sure they would if it impacted their CTA.

6. What nonsense? Who is pushing what? Did S5 send Ivan and Igor to break your knee caps if you don't trade the strategy? If so, please let me know so we can fix the situation.

7. So here again, the Webinar was ONE HOUR AND 33 MINUTES long. The Alchemy strategy announcement by S5 and discussion of it was probably 7 mins. If you think the session was not about Automated Trading, then you must have been listening to something else.

8. I don't have to prove anything works and I certainly wouldn't try with someone who is flinging noise while not actually listening to what was being said. Sorry. In trading, nobody has to prove anything to you. Again, let me know if Ivan and Igor are still there and are forcing you to trade the strategy.

9. Thanks for predicting the future of what this strategy will do. Contrary to the way you see facts, I have been watching it trading live on a real house account for over a month. It has lost and it has won. Just like a trade or any strategy does. Overall, as of the close of yesterday, it was up around 10% from May 4th to June 16th (past performance is not indicative of future results). Now, if it goes into a drawdown from here, then so be it. But given my history of watching prop traders and now retail traders trade, I personally feel comfortable with this strategy as it is. After all, it is a TRADING strategy and not an investment program. The volatility is inherent here.

10. I'm glad you have decided to unsubscribe. I would too with the amount of stress you have caused yourself based on your prejudices.


So based on this person's logic, if I bring on someone who trades using an order flow tool and that tool somehow doesn't work out for someone, then I have lost my values and soul.

If there is one thing that I have learned from trading and about trading, it is that I have to keep an open mind. Many things won't work for me and many things have. Some things are not for me and I don't participate at all. However, I don't approach everything with criticism and suspicion and neither should those who watched the Automated Trading webinar. If you are working on automation, then there were many nuggets in there. If you have considered it, then you know better what to prepare for. If you don't want to do your own but want to trade a system, then one was provided.

Pick your poison....otherwise, go ahead....unsubscribe.

PS: That's a lot of posts for a guy who just joined 2 days ago.

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  #492 (permalink)
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Get 'Em FT71!! Obviously a hater..

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  #493 (permalink)
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FuturesTrader71 View Post
Thanks for pitching in your opinion.

Now let me break down what you said just so that the facts remain facts rather than distortions based on your assumptions and conclusions.

1. I'm not selling anything. The Alchemy strategy was developed by others. I simply did a lot of due diligence over the last 2 years with these guys and Stage 5 is making it available at a low initial capital requirement as an automated trading strategy for anyone who is interested. Clearly you are not, so great. Don't be. The strategy has been trading and has been out there. The fact that it is now available at S5 is offending you in some way. It is not mandatory that you participate in it and it doesn't change one bit of my vision, values and goals for what I do. I'm really amused by how offensive you find it despite the fact that you know nothing about it.

2. It was brought up in the context of automated trading strategies. That was the subject of the webinar. A topic that has been in demand for years and I know the experts interviewed enough to feel comfortable to put them on.

3. You state that there is a limit of 300 people to create scarcity. Thanks for that assumption but your facts don't reflect what was said. I said that the strategy has a 300 UNIT limit because it is a market order strategy. Above this threshold, the slippage becomes too large and impact performance. 300 units is 600 contract market orders. It appears to me that it is not your intent to be factual (a requirement for trading) and to process what is being said objectively.

4. The regulations require S5 to provide the performance as shown. That was what was approved by the regulators and that's what I could show at the webinar. The results of S5's own live house account are definitely real and live, but I didn't want to show something that was not approved by Compliance. Again, I'm assuming you are not an expert on futures compliance, so I will disregard your snarky comments regarding me being kidnapped by someone.

5. These guys didn't have to make the program available. The program is exclusive to S5. They are running their fund and CTA just fine. The auto-trading strategy is not exactly the same as the fund's automated strategy. Here again, you didn't bother to get the facts. Clearly facts are not a priority. Red Ivy can stop providing signals to S5 at will and I'm sure they would if it impacted their CTA.

6. What nonsense? Who is pushing what? Did S5 send Ivan and Igor to break your knee caps if you don't trade the strategy? If so, please let me know so we can fix the situation.

7. So here again, the Webinar was ONE HOUR AND 33 MINUTES long. The Alchemy strategy announcement by S5 and discussion of it was probably 7 mins. If you think the session was not about Automated Trading, then you must have been listening to something else.

8. I don't have to prove anything works and I certainly wouldn't try with someone who is flinging noise while not actually listening to what was being said. Sorry. In trading, nobody has to prove anything to you. Again, let me know if Ivan and Igor are still there and are forcing you to trade the strategy.

9. Thanks for predicting the future of what this strategy will do. Contrary to the way you see facts, I have been watching it trading live on a real house account for over a month. It has lost and it has won. Just like a trade or any strategy does. Overall, as of the close of yesterday, it was up around 10% from May 4th to June 16th (past performance is not indicative of future results). Now, if it goes into a drawdown from here, then so be it. But given my history of watching prop traders and now retail traders trade, I personally feel comfortable with this strategy as it is. After all, it is a TRADING strategy and not an investment program. The volatility is inherent here.

10. I'm glad you have decided to unsubscribe. I would too with the amount of stress you have caused yourself based on your prejudices.


So based on this person's logic, if I bring on someone who trades using an order flow tool and that tool somehow doesn't work out for someone, then I have lost my values and soul.

If there is one thing that I have learned from trading and about trading, it is that I have to keep an open mind. Many things won't work for me and many things have. Some things are not for me and I don't participate at all. However, I don't approach everything with criticism and suspicion and neither should those who watched the Automated Trading webinar. If you are working on automation, then there were many nuggets in there. If you have considered it, then you know better what to prepare for. If you don't want to do your own but want to trade a system, then one was provided.

Pick your poison....otherwise, go ahead....unsubscribe.

PS: That's a lot of posts for a guy who just joined 2 days ago.

.... and i thought it looked pretty good. In fact i thought it looked so good, i thought it was too good. This was a week or two ago. i thought ... ah Morad is using this as a psych tool...like do you really think this is possible via computer c'mon, use your head...the real results are between your ears.

I tested many systems over the years. some were profitable for 6 weeks or 6 months, sometimes years, depending on your goals and objectives. i kept developing and searching cuz i naively thought they had to be profitable all the time. then I read a book and found out the funds regularly turned them on and off at will depending on the kind of market that was trading at the time. That made a lot of sense to me. Sometimes the market trends nicely and sometimes it channels etc. Certainly the summer months are different than Jan to March.

Anyways I have to finish my house reno asap and get back to trading. In the interim i have to listen to this webinar...even if red ivy is only discussed for 7 minutes.

I used to develop systems just with indicators, but then i realized a real system would take into account
- the current weeks news releases
- the day of the month,
- holidays,
- daily atr,
- recent volumes,
- other market influences eg oil, gold, bonds, USD

and that was before i tripped over vol profile.

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  #494 (permalink)
Amsterdam, The Netherlands
 
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Upsidedown is quite simply: upside down.

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  #495 (permalink)
Utrecht, Netherlands
 
 
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Big Mike View Post
Are you talking about an FIO webinar, or one not related to us?

Sent from my phone

Post #486 in this thread where Morad replies to a question he wasn't asked. About a webinar where he's touting a system that will make him money for each subscriber.

Hence my skepticism.

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  #496 (permalink)
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FuturesTrader71 View Post
Thanks for pitching in your opinion.

Now let me break down what you said just so that the facts remain facts rather than distortions based on your assumptions and conclusions.

1. I'm not selling anything. The Alchemy strategy was developed by others. I simply did a lot of due diligence over the last 2 years with these guys and Stage 5 is making it available at a low initial capital requirement as an automated trading strategy for anyone who is interested. Clearly you are not, so great. Don't be. The strategy has been trading and has been out there. The fact that it is now available at S5 is offending you in some way. It is not mandatory that you participate in it and it doesn't change one bit of my vision, values and goals for what I do. I'm really amused by how offensive you find it despite the fact that you know nothing about it.

2. It was brought up in the context of automated trading strategies. That was the subject of the webinar. A topic that has been in demand for years and I know the experts interviewed enough to feel comfortable to put them on.

3. You state that there is a limit of 300 people to create scarcity. Thanks for that assumption but your facts don't reflect what was said. I said that the strategy has a 300 UNIT limit because it is a market order strategy. Above this threshold, the slippage becomes too large and impact performance. 300 units is 600 contract market orders. It appears to me that it is not your intent to be factual (a requirement for trading) and to process what is being said objectively.

4. The regulations require S5 to provide the performance as shown. That was what was approved by the regulators and that's what I could show at the webinar. The results of S5's own live house account are definitely real and live, but I didn't want to show something that was not approved by Compliance. Again, I'm assuming you are not an expert on futures compliance, so I will disregard your snarky comments regarding me being kidnapped by someone.

5. These guys didn't have to make the program available. The program is exclusive to S5. They are running their fund and CTA just fine. The auto-trading strategy is not exactly the same as the fund's automated strategy. Here again, you didn't bother to get the facts. Clearly facts are not a priority. Red Ivy can stop providing signals to S5 at will and I'm sure they would if it impacted their CTA.

6. What nonsense? Who is pushing what? Did S5 send Ivan and Igor to break your knee caps if you don't trade the strategy? If so, please let me know so we can fix the situation.

7. So here again, the Webinar was ONE HOUR AND 33 MINUTES long. The Alchemy strategy announcement by S5 and discussion of it was probably 7 mins. If you think the session was not about Automated Trading, then you must have been listening to something else.

8. I don't have to prove anything works and I certainly wouldn't try with someone who is flinging noise while not actually listening to what was being said. Sorry. In trading, nobody has to prove anything to you. Again, let me know if Ivan and Igor are still there and are forcing you to trade the strategy.

9. Thanks for predicting the future of what this strategy will do. Contrary to the way you see facts, I have been watching it trading live on a real house account for over a month. It has lost and it has won. Just like a trade or any strategy does. Overall, as of the close of yesterday, it was up around 10% from May 4th to June 16th (past performance is not indicative of future results). Now, if it goes into a drawdown from here, then so be it. But given my history of watching prop traders and now retail traders trade, I personally feel comfortable with this strategy as it is. After all, it is a TRADING strategy and not an investment program. The volatility is inherent here.

10. I'm glad you have decided to unsubscribe. I would too with the amount of stress you have caused yourself based on your prejudices.


So based on this person's logic, if I bring on someone who trades using an order flow tool and that tool somehow doesn't work out for someone, then I have lost my values and soul.

If there is one thing that I have learned from trading and about trading, it is that I have to keep an open mind. Many things won't work for me and many things have. Some things are not for me and I don't participate at all. However, I don't approach everything with criticism and suspicion and neither should those who watched the Automated Trading webinar. If you are working on automation, then there were many nuggets in there. If you have considered it, then you know better what to prepare for. If you don't want to do your own but want to trade a system, then one was provided.

Pick your poison....otherwise, go ahead....unsubscribe.

PS: That's a lot of posts for a guy who just joined 2 days ago.

1, you are selling something. Everyone with an account with you that makes a trade will make you commissions. Whether Red Ivy give you a kickback or not remains a mystery.

2, No webinar is a one hour sales pitch. There is the carrot and then the pitch.

3, 600 units will slip. Real liquidity is nowhere near that.

4, There is no long term live performance statistics.

5, They did not have to make the program available. They decided that at 300 subscribers, they would make more money leasing the system to retail traders than trading it themselves. Or are you implying that this is an altruistic venture?

6, For each trade this system makes, you take a commission. Some of those commissions will be from people that would not be confident to make their own trades but now let the system make trades for them. So definite conflict of interest.

7, No sales pitch looks like a sales pitch throughout. Carrot first.

8, Yes. You DO have to prove things work or you should not push them. Certainly for automated systems but I'll give you a free pass on your "Volume Profile" related discretionary trading as that is a skill.

9, You can only give hypothetical long term results.

10, Nobody has unsubscribed from anything.

Bottom line is there is no proof it works and there is no reason that a 600 contract system that makes money would be leased to retail traders paying retail commissions UNLESS leasing it to them makes more money than trading it themselves.

As for everyone else that thinks Morad is a god. Remember nobody is infallible. Red Ivy could have hoodwinked FT71. He could well believe what he is telling us but that does not make it true.

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  #497 (permalink)
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bob7123 View Post
Upsidedown is quite simply: upside down.

I've been called much worse, Bob.

But let's just have a civil discussion without name calling. I don't think questioning people is abhorrent. We should be able to have a back and forth on this.

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  #498 (permalink)
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UpsideDown View Post
1, you are selling something. Everyone with an account with you that makes a trade will make you commissions. Whether Red Ivy give you a kickback or not remains a mystery.

2, No webinar is a one hour sales pitch. There is the carrot and then the pitch.

3, 600 units will slip. Real liquidity is nowhere near that.

4, There is no long term live performance statistics.

5, They did not have to make the program available. They decided that at 300 subscribers, they would make more money leasing the system to retail traders than trading it themselves. Or are you implying that this is an altruistic venture?

6, For each trade this system makes, you take a commission. Some of those commissions will be from people that would not be confident to make their own trades but now let the system make trades for them. So definite conflict of interest.

7, No sales pitch looks like a sales pitch throughout. Carrot first.

8, Yes. You DO have to prove things work or you should not push them. Certainly for automated systems but I'll give you a free pass on your "Volume Profile" related discretionary trading as that is a skill.

9, You can only give hypothetical long term results.

10, Nobody has unsubscribed from anything.

Bottom line is there is no proof it works and there is no reason that a 600 contract system that makes money would be leased to retail traders paying retail commissions UNLESS leasing it to them makes more money than trading it themselves.

As for everyone else that thinks Morad is a god. Remember nobody is infallible. Red Ivy could have hoodwinked FT71. He could well believe what he is telling us but that does not make it true.

Hi UpsideDown

It appears you have been irked by this particular webinar. I have not watched it so I cannot comment on the merits.

However your latest replies to FT71's points are consistent with trolling.

Please note, I'm not saying you are a troll, but some points are consistent with trolling. Example:


Quoting 
UpsideDown
You are selling a system that is "only available to 300 people" (marketing:creating scarcity). Yet at the same time, you say it's 'against regulations' to show real results.

FT71
3. You state that there is a limit of 300 people to create scarcity. Thanks for that assumption but your facts don't reflect what was said. I said that the strategy has a 300 UNIT limit because it is a market order strategy. Above this threshold, the slippage becomes too large and impact performance. 300 units is 600 contract market orders. It appears to me that it is not your intent to be factual (a requirement for trading) and to process what is being said objectively.

UpsideDown
3, 600 units will slip. Real liquidity is nowhere near that.

You don't appear to have taken onboard the fact you initially mentioned 300 people as opposed to 300 units. You just used that as a springboard to talk about something else. That is consistent with trolling.


Quoting 
UpsideDown
Vaarwel. Unsubscribed from everything you do.

FT71
10. I'm glad you have decided to unsubscribe. I would too with the amount of stress you have caused yourself based on your prejudices.

UpsideDown
10, Nobody has unsubscribed from anything.

This too is consistent with trolling.


There are other points that to me are consistent with trolling, although I don't have either the time or the inclination to point them out.

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  #499 (permalink)
Utrecht, Netherlands
 
 
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xplorer View Post
Hi UpsideDown

It appears you have been irked by this particular webinar. I have not watched it so I cannot comment on the merits.

However your latest replies to FT71's points are consistent with trolling.

Please note, I'm not saying you are a troll, but some points are consistent with trolling. Example:


You don't appear to have taken onboard the fact you initially mentioned 300 people as opposed to 300 units. You just used that as a springboard to talk about something else. That is consistent with trolling.


This too is consistent with trolling.


There are other points that to me are consistent with trolling, although I don't have either the time or the inclination to point them out.

I have not been irked by this specific webinar. More by the direction Morad has taken the FT71 persona. For instance he's done a few scalping webinars but the only one he ever showed a profit on was the one he did on replay.

No man can trade every way. FT71 is a longer term day trader and to think he can just casually switch to another style is ludicrous. That is not how this business works. It is a business of skill and specialization.

I am not a troll. The 300 people is the amount of subscribers they were looking for. The 600 units is from FT71s last post. So perhaps one person can subscribe a few times to trade more contracts or perhaps it's 2 contracts per subscriber. That really missus the crux of the issue. It is not relevant.

What is relevant is that a retailer will have to pay Red Ivy AND Pay S5 commissions and still come out ahead. Their commissions are far from cheap. Yet if Red Ivy traded the 600 contracts themselves, they would be paying far less in terms of commissions on a per contract basis, yet they will make more money by leasing the system out.

If anyone other than Morad was pushing this system, they would be questioned. As it is, the personality he has built has caused people to suspend common sense and attack someone that questions him. And that is all I have done here, to question him.

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  #500 (permalink)
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UpsideDown View Post
I've been called much worse, Bob.

But let's just have a civil discussion without name calling. I don't think questioning people is abhorrent. We should be able to have a back and forth on this.

I'm not intending to assail your character. You are simply wrong according to my beliefs.

I appreciate that every future contract is entered into with 2 parties having diametrically opposite views of future prices, so analogously I don't see you as a bad person, just one I disagree with.

I also don't fault your cynicism, within reason. I love trading, but the one thing I hate about it is that the promise [mirage, actually] of easy money brings a--h---s out of the woodwork. And yeah, I've seen a lot of them. Have a look at some of my other posts; I'm not afraid to call b------t when I see it.

But FT isn't a charlatan, in fact quite the opposite. He has done more for my trading career than anyone else. All for the princely sum of zero dollars and zero cents. I have said here and on Twitter that I wouldn't trade anywhere else.

I could care less if you choose to agree with me or remain skeptical, but that's how I see things and intend to move forward.

Best of luck.

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