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


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

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  #601 (permalink)
las vegas, nv
 
Experience: Beginner
Platform: MD
 
Posts: 1 since Jun 2010
Thanks: 0 given, 0 received

Hi FT71,

Thanks for your AMA, very well done as always.

I am currently trading the MES and would like to know how many contracts I can realistically trade there before moving to the ES. If I'm profitable on the MES, my feeling is that with all other things being equal I should trade significant size before moving to the ES. For example, I would think that I should be trading a minimum of 30 MES before going to 3 ES. However, that style of trading could be still significantly different unless I broke up the 30 into 3 units of 10, to match the scales.

One way I would answer this and I'm curious if you would agree, is I should work my way up to 90 MES contracts, trading them in 3 blocks of 30. In doing this starting from 3 MES, you could increase by 1 MES and the additional to your middle target until you got another block of 3 which would then spread evenly.

Example:
1,1,1
1,2,1
1,3,1
2,2,2
2,3,2
2,4,2
3,3,3
3,4,3
3,5,3
4,4,4
...
30,30,30 (now switch to 3,3,3 ES)

This would just be an overall model of how to increase MES size and scale out. It would obviously need to be adjusted for factors like scaling in, etc...

I'm concerned that if I trade 30 MES, and try to switch to 3 ES, that my next move up will be 33% larger (from 3 to 4 in the ES). Where as if I work up to 90 MES and 9 ES, my next move up is more reasonable at 11% (from 9 to 10 in the ES).

Do you see a limit on the number of contracts you can trade on the MES with this thought process? Is that market arbitraged enough to absorb even larger orders like 300-500? I totally agree with your suggestion that "sizing" up should be done in a way to be as imperceptible as possible and if you're making profitable trades on the MES it seems it would be more important not to mess with the mental game and pay more in fees before transitioning to the ES.

Thanks in advance.

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  #602 (permalink)
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Posts: 313 since Feb 2012
Thanks: 128 given, 1,187 received

Hey traders,

A member emailed and asked if I can post the webinar I did last week with Bookmap could be posted to this thread for easy retrieval and for other FIO members to watch. This webinar didn't go into the weeds of order flow or how to use the CT Bookmap software. It is a more holistic look at trading from the big picture down to the order flow.

In my opinion, members here will likely pick up a thing or two to use. That's always my goal...to make a positive impact on your trading.

It is a boring open this morning in the index futures, this might be a good day to watch this. Let me know your thoughts.


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  #603 (permalink)
Legendary Market Wizard
Upstate NY
 
Experience: Intermediate
Platform: TOS
Trading: Equities, Treasuries, Gold
 
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FuturesTrader71 View Post

It is a boring open this morning in the index futures, this might be a good day to watch this. Let me know your thoughts.

I found this EXTREMELY helpful - certainly picked up a thing or two. Thank you so much for sharing!

-Zimmer

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