FuturesTrader71 (FT71) / Morad Askar - Ask Me Anything (AMA) - Trading Reviews and Vendors | futures io social day trading
futures io futures trading


FuturesTrader71 (FT71) / Morad Askar - Ask Me Anything (AMA)
Updated: Views / Replies:128,511 / 553
Created: by Big Mike Attachments:19

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 19  
 
Thread Tools Search this Thread
 

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

  #111 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,163 since Jun 2009
Thanks: 29,275 given, 82,771 received

Tip


There will be a Live AMA session on Tuesday, May 14th @ 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/185788694




Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following 5 users say Thank You to Big Mike for this post:
 
  #112 (permalink)
Elite Member
Dallas/Tx
 
Futures Experience: Advanced
Platform: NinjaTrader
Favorite Futures: CL Crude Oil
 
Posts: 281 since Sep 2011
Thanks: 168 given, 166 received

Yah that's helfpul ok thanks

Reply With Quote
 
  #113 (permalink)
Membership Temporarily Revoked
Birmingham, AL
 
Futures Experience: Advanced
Platform: Sierra
Broker/Data: several
Favorite Futures: several
 
Posts: 1,065 since Apr 2012
Thanks: 713 given, 2,758 received



josh View Post
@FuturesTrader71, in "Phantom", POP's big rule #1 is to assume you are wrong, and get out of a trade unless the market proves you correct. This is in contrast to often-heard advice that a trade is valid until 'the market proves you wrong.' Instead of yielding control of the position to the market, POP advises that the trader stay in control of the position, and manually get out unless the market proves him correct.

From the webinars you have given, I have noticed that you typically recommend the "don't mess with your stop, let the market take you out" approach, which is about 180 degrees from what is in PoP. Since you recommended PoP, I am curious as to whether you simply don't believe in this type of approach but still find the book helpful, or whether perhaps your general advice is for newer traders who have a tendency to jump in and out on a whim, to help them avoid overtrading?

Bump

Reply With Quote
The following 3 users say Thank You to indextrader7 for this post:
 
  #114 (permalink)
Elite Member
ALICANTE
 
Futures Experience: Beginner
Platform: Sierra
Favorite Futures: ES, CL, NQ, GC
 
bmmartin's Avatar
 
Posts: 10 since Feb 2010
Thanks: 250 given, 11 received


indextrader7 View Post
Bump

Thanks for bumping it: I am also very interested to hear/read what FT71 answers.

Reply With Quote
The following user says Thank You to bmmartin for this post:
 
  #115 (permalink)
Elite Member
Philippines
 
Futures Experience: Beginner
Platform: Sierra
Favorite Futures: Futures/Bund
 
Posts: 9 since Mar 2013
Thanks: 28 given, 16 received

phantom_of_the_pits

Hi FT71,

Since we re on the subject of Phantom of the Pits, could you please explain how the process has changed over the past 15 years? ie. How much emphasis has been taken over by electronic trading, how strong is the physical aspects in the pits and such. Orders, locals, human interaction, etc...

Really appreciate everything you and big mike are doing here. Thanks, marts

Reply With Quote
The following user says Thank You to marts01 for this post:
 
  #116 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,163 since Jun 2009
Thanks: 29,275 given, 82,771 received

Bump for tomorrow's event, link is a few posts up.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following user says Thank You to Big Mike for this post:
 
  #117 (permalink)
Elite Member
London, United Kingdom
 
Futures Experience: Intermediate
Platform: Stellar
Favorite Futures: ES, FGBL, FDAX
 
Posts: 4 since Apr 2013
Thanks: 2 given, 5 received

Moving Averages

Hi FT71,

Just a quick query, do daily moving averages play a big part in your trading strategy?

If so, how? And what setup parameters do you find most helpful? (I currently chart on CQG and use type 'simple', price set to 'close', and look at 10, 20, 50 and 100 day moving averages)

Many thanks to both Big Mike and yourself for all your help, its much appreciated.

Reply With Quote
The following user says Thank You to PLD3 for this post:
 
  #118 (permalink)
 Vendor: www.futurestrader71.com 
Chicago, IL, USA
 
Futures Experience: Advanced
Platform: S5 Trader, IQFeed, IRT
Broker/Data: Stage 5 Trading Corp
Favorite Futures: ES, M6E, FDAX, TF, NQ, GC
 
FuturesTrader71's Avatar
 
Posts: 238 since Feb 2012
Thanks: 74 given, 783 received


syxforex View Post
Thanks FT71, really appreciate your time.

Thank you! I hope you get something out of it to push you towards your goal.

Risk Disclaimer: Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and 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
Reply With Quote
The following user says Thank You to FuturesTrader71 for this post:
 
  #119 (permalink)
 Vendor: www.futurestrader71.com 
Chicago, IL, USA
 
Futures Experience: Advanced
Platform: S5 Trader, IQFeed, IRT
Broker/Data: Stage 5 Trading Corp
Favorite Futures: ES, M6E, FDAX, TF, NQ, GC
 
FuturesTrader71's Avatar
 
Posts: 238 since Feb 2012
Thanks: 74 given, 783 received


josh View Post
@FuturesTrader71, in "Phantom", POP's big rule #1 is to assume you are wrong, and get out of a trade unless the market proves you correct. This is in contrast to often-heard advice that a trade is valid until 'the market proves you wrong.' Instead of yielding control of the position to the market, POP advises that the trader stay in control of the position, and manually get out unless the market proves him correct.

From the webinars you have given, I have noticed that you typically recommend the "don't mess with your stop, let the market take you out" approach, which is about 180 degrees from what is in PoP. Since you recommended PoP, I am curious as to whether you simply don't believe in this type of approach but still find the book helpful, or whether perhaps your general advice is for newer traders who have a tendency to jump in and out on a whim, to help them avoid overtrading?

Excellent question. I don't agree with this aspect of POP's rule. I believe that traders micro-manage their position after painstakingly putting it on in the first place (lots of price risk assumed to put the trade on). This is a double-negative, in my opinion (and no that doesn't make a positive thing).

How many times have you fiddled with a trade and then saw it work out just the way you had envisioned?

POP's rule is valid back in the late 90's and through the 2000's. However, the market is very slow to make a move and once the move takes place it ends quickly. Back then, you can see the reaction from the market to your position quickly and it was a lot easier to scalp it. Now, I believe a researched edge executed without errors over a large sample is the better way to go.

Almost all of the traders that we have at our brokerage overmanage their trades. This is a bad habit, in my opinion. It leads the trader to believe that they know what will happen but they don't.

Risk Disclaimer: Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and 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
Reply With Quote
The following 10 users say Thank You to FuturesTrader71 for this post:
 
  #120 (permalink)
 Vendor: www.futurestrader71.com 
Chicago, IL, USA
 
Futures Experience: Advanced
Platform: S5 Trader, IQFeed, IRT
Broker/Data: Stage 5 Trading Corp
Favorite Futures: ES, M6E, FDAX, TF, NQ, GC
 
FuturesTrader71's Avatar
 
Posts: 238 since Feb 2012
Thanks: 74 given, 783 received



calitrader View Post
Hi FT71,
Thank you very much for all that you have given to this community, your dedication to helping traders and 'changing the industry' I have heard you refer to a risk sheet in webminars and AMA that you review before trading. I have tried to create my own but I would like to make sure I am not missing any big areas. Do you have a template of one you could share on the thread? Thank you.

Chris

My risk sheet is proprietary. However, I know several people have asked for this. I will work something up and get back to you. I usually only share proprietary stuff with our traders.

Risk Disclaimer: Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and 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
Reply With Quote
The following 2 users say Thank You to FuturesTrader71 for this post:

Reply



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

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)
 

Introducing daytradr by Jigsaw, new stand-alone platform

Oct 19
 

RandBots: AutoTrading Bots to diversify your trading

Oct 24
 

TopstepTrader: Profiting Without Risking Your Own Money

Oct 26

Building Open Source Indicators for NT8 w/Fat Tails @ Lizard Indicators

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
FT71 www.futurestrader71.com review Big Mike Trading Reviews and Vendors 26 July 31st, 2014 11:54 AM
Webinar: FuturesTrader71 (FT71) - Putting all the pieces together Big Mike Traders Hideout 15 March 16th, 2014 09:27 AM
Webinar: FuturesTrader71 (FT71) on Volume Profile Big Mike Traders Hideout 80 November 12th, 2013 08:06 PM
Webinar: FuturesTrader71 (FT71) Trade Management Techniques Big Mike The Elite Circle 90 March 14th, 2013 03:45 PM
Webinar: FuturesTrader71 (FT71) One-on-One, focusing on member Q&A Big Mike Traders Hideout 19 March 11th, 2013 06:54 AM


All times are GMT -4. The time now is 05:32 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-10-18 in 0.07 seconds with 19 queries on phoenix via your IP 54.224.155.169