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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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  #51 (permalink)
 Big Mike 
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Master Homework thread I mentioned a few times, is a goldmine of info



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  #52 (permalink)
 Big Mike 
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Thanks @FuturesTrader71 for the Live AMA session today.

Below is the video of this session. FT will be back again soon for another live AMA, I will post in this thread once it is scheduled.

For those of you who did not get your questions answered:

a) Next time please join the room earlier and ask your question upon joining, we take questions on a first come basis
b) You can post your question here in the thread, FT will do his best to answer (the best questions will receive the most attention).

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  #53 (permalink)
 bob314159 
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From the FT&71's AMA webinar today:
2013-03-19_0932 - bob314159's library

What is the red/yellow indicator?

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  #54 (permalink)
 Big Mike 
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bob314159 View Post
From the FT&71's AMA webinar today:
2013-03-19_0932 - bob314159's library

What is the red/yellow indicator?

Please wrap screencast URL's in the [screencast] bbcode.

http://screencast.com/t/MD7h7mhbUBK

Becomes:
[screencast]http://screencast.com/t/MD7h7mhbUBK[/screencast]

Which will embed the image like so:



I liked it too. See this thread:


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  #55 (permalink)
 Big Mike 
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For Robert that asked the iron condor question, I asked it here for you:



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 josh 
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Nice AMA and thanks for hosting Mike, thanks for doing it FT.


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 Big Mike 
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Tip


There will be a Live AMA session on Tuesday, April 2nd @ 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/779597502




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  #58 (permalink)
 Big Mike 
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@FuturesTrader71,

Do you take positions prior to major news, and hold until after the release?

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 Big Mike 
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@FuturesTrader71,

I've heard you say you are looking only for 2 points on ES. Now obviously that is irrespective of size, but are you saying you trade to a daily goal and then stop once reached?

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  #60 (permalink)
 FuturesTrader71 
 
 
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Big Mike View Post
Last question for today, promise...

FT, as far as trading -- are you only a scalper? Only a day trader? What about swings? Outside of trading I would imagine you have other longer term investments, would you mind very briefly commenting on whether these longer term investments are in equities, bonds, real estate and etc etc (if any one category is more weighted than the next).

If you would sum up the US markets in just one word of either "bullish" or "bearish" when looking at the next 5-years or so, which would it be?

Obviously this has no major factor on day traders unless we see 2008 levels of volatility again --- I am talking more about longer term moves or positioning yourself for a big swing trade and/or reshuffling long term investment options if you feel the market is about to enter a down turn. There are many people who believe we are near a cyclical high and they are expecting a good 20-25% retracement or so (some expecting even more) to come somewhat soon.

For even longer term investments, say 15 years, the cyclical argument is pretty much moot based on historical data, you should just make regular contributions and essentially be dollar cost averaging your long term investment portfolio to weather storms, in my opinion at least. But the trader in me doesn't want to see my investments in equities take a dive, if I were to subscribe to the model that a cyclical top is near I would reposition to minimize impact should we start moving lower.

Thoughts?

It's late so we can ask this in tomorrow's live AMA session if you want I'm not looking for a detailed answer since this is mostly outside of trading, I just was curious to see if your thoughts align with mine or not.

Thanks as always. And with that, I sign off for the day - I've been up for 30 hours straight!

Mike

Hi Mike,

I'm a combination scalper/day trader. My pedigree was in high volume scalping starting with equities and then into futures. I don't like sitting in heat very long (heat = a trade that is against my direction). I approach every trade as a scalp but try to keep a runner on if I can get it going. My goal in a product like the ES is very modest. I'm looking for an average of around 2 pts per contract. I'm not interested in catching an entire swing. My focus is first on risk control and then on just taking what the market will pay. I don't care if I take 2 pts and it goes 18 pts further. Couldn't care less. For many, this is a problem since, in my opinion, many folks see each trade as a discrete data point. I don't. I look for a slight edge on a large number of trades. Think more in the casino model rather than an investor model.

I can't speak to your investments question. However, I have long been a believer in owning real assets and so I look to be heavily weighted in uranium, gold, palladium and other miners (mostly in Canada). Although equities have run up a fair distance since last year, I believe that the market is being pushed by Central Banks rather than by earnings and strong fundamentals. I'm always looking to hedge the decay of the USD with real assets. If you look at the value of equities or their indices in terms of gold, crude oil or another physical asset, you will find that equities are nowhere near the highs. It is a huge advantage for the US to have such a widespread global currency.

My view on the US markets is in the camp of stagnation. I believe we are entering the same cycle Japan did after its big boom in the 80's. This is why the market pays much more attention to what the Fed and other CB's do rather at real growth in earnings and global trade. The economy is like a horse with real bad joints that we keep racing around the track and injecting it with anti-inflammatory drugs (monetary policy). The solutions are not looking at the economy holistically because there is political pressure governing all CB action.

The market is in a compression cycle for volatility and trading. We go through these. In my opinon, if as a trader you can keep your risk plan and trading plan flat to positive for this time period and survive your overhead and lifestyle costs, you probably would be much stronger once things pick up. Again, that is just an opinion.

I hope that takes care of your questions.

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