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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)
 mjg2trader 
las vegas, nv
 
Experience: Beginner
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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)
 FuturesTrader71 
 
 
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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)
 mtzimmer1 
Legendary Recovering Method Hopper
Upstate NY
 
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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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  #604 (permalink)
vpd1952
memphis
 
 
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FuturesTrader71 ,
Thank you so much for posting and sharing this Webinar - super helpful
Definitely helped me with adding on Lots, and scaling out of 1 Lot to cover a portion of my cost of the trade
scaling out of the 2nd Lot at the price that covers the Entire Risk of the trade ( initial risk of all 3 Contracts at the initial entry of the trade )
And then having the 3rd Lot be the "Runner" , within the structure of the Market


You also mentioned adding Lots, based on your Account size and the Margin on a per contract basis
Can you please give an example of how this method would work ( adding X number of Contracts ) based on the Intra-Day Margin per contract - an example of this based on a $20,000 account

Thanks so much again for doing this webinar - very insightful

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  #605 (permalink)
 FuturesTrader71 
 
 
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vpd1952 View Post
FuturesTrader71 ,
Thank you so much for posting and sharing this Webinar - super helpful
Definitely helped me with adding on Lots, and scaling out of 1 Lot to cover a portion of my cost of the trade
scaling out of the 2nd Lot at the price that covers the Entire Risk of the trade ( initial risk of all 3 Contracts at the initial entry of the trade )
And then having the 3rd Lot be the "Runner" , within the structure of the Market


You also mentioned adding Lots, based on your Account size and the Margin on a per contract basis
Can you please give an example of how this method would work ( adding X number of Contracts ) based on the Intra-Day Margin per contract - an example of this based on a $20,000 account

Thanks so much again for doing this webinar - very insightful

Here's a hypothetical model:

NOTICE: This is provided as an example with some fair assumptions. Derivatives trading is not suitable for all investors. This is provided as an educational example only and is not a recommendation to trade or to indicate the size you should be trading. If you want more details, please reach out to the team at https://edgeclear.com/contact



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  #606 (permalink)
 Big Mike 
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Hi guys,

It is my pleasure to welcome back Morad Askar aka FuturesTrader71 for our 409th webinar event, on Thursday, January 21st @ 4:30 PM Eastern US.

The title for the event is "Are you doing what it takes to trade right?", and bullet points include:

- Listen to Morad! He is a 20+ year professional trading veteran
- What are the key pieces that need to be in place?
- How important is the technical side really?
- Who are you accountable to?
- Is 2021 going to be THE year?
- Attend live to get all your questions answered!



Register for this event:
https://on.futures.io/huhvq

Mike

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  #607 (permalink)
 FuturesTrader71 
 
 
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Looking forward to tomorrow's event. The theme of the AMA is "Are you doing what it takes to trade right?"

This year, we are making a strong push with the objective of seeing more traders "make the turn" or at least to become much more professional in your approach. Not saying everyone isn't. But with the massive ocean of information and often conflicting advice out there, it is easy to get lost in the process and to go in circles. There is far too much focus on the technical side and not enough on the process and "doing the work".

It would be great if members can start things off by asking your questions here. I will prioritize them during the webinar. It makes for a more substantive discussion.

Catch you guys tomorrow at 4:30 PM EST!

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

If you have any questions about the products or services provided, please send me a Private Message or use the futures.io "Ask Me Anything" thread
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  #608 (permalink)
 FuturesTrader71 
 
 
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planetkill View Post
Hello, do you have any marketing material comparing yourself to your competitors?


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Hi...I just saw this.

The best way to find out what is offered that helps improve your current setup is to speak to one of the guys on the team. You will be assigned a personal broker with whom you will always interact and who will get to know you. Please reach out here: https://edgeclear.com/contact-us

Be sure to let them know that you are from FIO and that you had spoken with me.

Cheers!

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

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  #609 (permalink)
 Big Mike 
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Webinar recording:



Please give us feedback and comments:

If you liked it, click here and share your feedback:
https://futures.io/email-feedback.php?title=808&liked=1

If you didn't like it, click here and share your feedback:
https://futures.io/email-feedback.php?title=808&liked=-1

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  #610 (permalink)
 Mtype 
Market Wizard
Hungary
 
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Thanks FT! Great webinar!

“Happiness is the meaning and the purpose of life, the whole aim and end of human existence.” Δ

“There is no path, but only a fool wouldn’t follow it.”
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  #611 (permalink)
 Jemo 
FLorida / USA
 
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Hi Morad. Thank you so much for helping us traders!

Do you ever hold a position overnight? If not what are your reasonings behind it?

Thank you

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  #612 (permalink)
 Rrrracer 
Webinar Host
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Finally got around to watching this... great webinar. @FuturesTrader71 asks all the tough questions and probes traders to do the same. Quite inspirational, thanks Morad.

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  #613 (permalink)
 FuturesTrader71 
 
 
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Jemo View Post
Hi Morad. Thank you so much for helping us traders!

Do you ever hold a position overnight? If not what are your reasonings behind it?

Thank you

Hi Jemo,

No, I have never and will probably never knowingly hold a futures position overnight. I like my sleep. It just isn't my style, but many traders do it.

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

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  #614 (permalink)
ranger64
Bangkok, Thailand
 
 
Posts: 71 since Jul 2012
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Hi Morad,

I was considering opening an account with TF4L and just wanted to know if Pratik Patel still is associated with TF4L or stage5trading? I assume that was before stage5 took over TF4L? Could you confirm?

https://www.nfa.futures.org/basicnet/regulatory-actions-detail-doc.aspx?docid=4420&rnd=77e18d2b-9dfd-473e-982e-f06569d12af7

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  #615 (permalink)
 TraderMich 
Copenhagen + Denmark
 
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Platform: Sierra Chart
Broker: Broker: Trade Future 4 Less. Data Feed/Order routing: CQG
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ranger64 View Post
Hi Morad,

I was considering opening an account with TF4L and just wanted to know if Pratik Patel still is associated with TF4L or stage5trading? I assume that was before stage5 took over TF4L? Could you confirm?

https://www.nfa.futures.org/basicnet/regulatory-actions-detail-doc.aspx?docid=4420&rnd=77e18d2b-9dfd-473e-982e-f06569d12af7

I am pretty sure Pratik Patel is no longer involved and has not been for years.

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  #616 (permalink)
 FuturesTrader71 
 
 
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ranger64 View Post
Hi Morad,

I was considering opening an account with TF4L and just wanted to know if Pratik Patel still is associated with TF4L or stage5trading? I assume that was before stage5 took over TF4L? Could you confirm?

https://www.nfa.futures.org/basicnet/regulatory-actions-detail-doc.aspx?docid=4420&rnd=77e18d2b-9dfd-473e-982e-f06569d12af7

Hi @ranger64,

I am not associated with TF4L or Stage 5 Trading and haven't been for several years. As far as I know, Pratik is not either. Stage 5 Trading is still in litigation to be dissolved.

A quick search for the names showed that Pratik Patel is also in a lawsuit against Stage 5 Trading. See the attached image.

I would invite you to consider talking to the brokers at Edge Clear who used to be at Stage 5 and have all left in September 2019. You can reach Max or Ian at https://edgeclear.com/contact-us.

Note that I'm 100% owner of Edge Clear and have a personal interest in the success of the firm. I hope you can support what we are doing.

If you have any questions regarding brokerage, please let me know.

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

If you have any questions about the products or services provided, please send me a Private Message or use the futures.io "Ask Me Anything" thread
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  #617 (permalink)
 FuturesTrader71 
 
 
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Hello traders,

I want to bring this thread to your attention. It is the discussion relating to yesterday's open panel with Dr. Steenbarger and myself answering questions. Please give it a visit and see if there is anything new there for you to apply to your trading:



Cheers!

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  #618 (permalink)
 Big Mike 
Site Administrator
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Here is our latest webinar recording featuring Morad and Dr Brett:





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  #619 (permalink)
 lesterb 
Toronto, Canada
 
Experience: Intermediate
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@FT71 great call this morning for scenario 1 on the ES. Up to 75 o/n high ( 71.50 ) , down to 60.75 ( 61.00 actual ), up a few points ( 63.00 actual ) and then down to 48.00 ( 47.75 actual ). Very well done and thank you.

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  #620 (permalink)
 FuturesTrader71 
 
 
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lesterb View Post
@FT71 great call this morning for scenario 1 on the ES. Up to 75 o/n high ( 71.50 ) , down to 60.75 ( 61.00 actual ), up a few points ( 63.00 actual ) and then down to 48.00 ( 47.75 actual ). Very well done and thank you.

Hi @lesterb,

Thanks for listening in on the Trader Bite. Yeah, that worked out well. In fact, we managed to get down into 4123 today which was the big extended target for yesterday. I like a market that is free to move under its own power. In my opinion, it makes it easier to read.

Keep reading the narrative and watch your risk. I hope you start to see a consistent outcome.

Best,
FT71

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