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

  #151 (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
 
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Just a note that registrations are now open for FT71's special webinar on Statistical Analysis as part of our 16 webinar events in June for our 4-year anniversary:

Registration:
https://futures.io/webinars/#registernow

Thread:
https://futures.io/traders-hideout/27583-webinar-futurestrader71-ft71-statistical-analysis-broader-edge.html

Mike

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

Need help?
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4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
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  #152 (permalink)
Elite Member
San Jose, CA
 
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Hi FT71,
I wanted thank you for the great webminar yesterday. It got me to thinking about one of the other webminars I have seen you give on day type analysis. Was that done in Excel or from inside Investor/RT? I trade CL exclusively and would like to do a similar study to the one I saw you do for ES. If its in excel can you post an empty spreadsheet with the formulas as a template or maybe just a rough thought process flow that I could go through to create it? Thank you.

Chris

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  #153 (permalink)
Elite Member
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Trade direction


FT,

Do you only take trades towards value? True or false ?

PS: Inspirational work all you do, great thank you!

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  #154 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
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Posts: 46,237 since Jun 2009
Thanks: 29,350 given, 83,145 received

Tip


There will be a Live AMA session on Tuesday, July 9th @ 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/356574886




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 7 users say Thank You to Big Mike for this post:
 
  #155 (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
 
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Posts: 238 since Feb 2012
Thanks: 74 given, 784 received


cdk1212 View Post
How would you suggest managing the trade with a 1 lot

With out a doubt, trading with 1 contract is much harder than 3 or 4. But it seems to be a normal progessing step from 1 to multiple. Then with that is risk managment and giving the trade some room to breath.
I believe it is all about waiting for your setup to mature and then execute with confidence. Whether it is 1 or multiple lots.



I'm aiming to change the fact that you have to go from 1 to 2 contracts to trade a product like the ES. We are pushing the exchange (met with the CME today, in fact) to introduce micro-Index products to help people start at 2 or more. It is definitely tougher trading in a binary way (either 1 contract on or off).

The best way to manage a 1-lot really is to use a fixed trade management scheme and to have an approach that gives you many signals during the trading session. There is no great way to trade it since you can't bank any profits to let the runner run in this situation.

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
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  #156 (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
 
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Posts: 238 since Feb 2012
Thanks: 74 given, 784 received


josh View Post
Don't want to clutter the thread too much, but wanted to give a thanks to FT and to Mike. Great information, lots of wisdom in these 30 minutes without hype, as usual.

Thanks, Josh. Glad you find it useful. This makes it a worthwhile effort for everyone.

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
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The following 4 users say Thank You to FuturesTrader71 for this post:
 
  #157 (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
 
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Posts: 238 since Feb 2012
Thanks: 74 given, 784 received


calitrader View Post
Hi FT71,
I wanted thank you for the great webminar yesterday. It got me to thinking about one of the other webminars I have seen you give on day type analysis. Was that done in Excel or from inside Investor/RT? I trade CL exclusively and would like to do a similar study to the one I saw you do for ES. If its in excel can you post an empty spreadsheet with the formulas as a template or maybe just a rough thought process flow that I could go through to create it? Thank you.

Chris

Day-type analysis was done in Excel from bar data exported from IRT. I am unable to post the excel sheet because it is specific to that data and it contains some proprietary stuff in there that is reserved for Stage 5 traders.

It is not hard to create it though. Give it a crack and see where you end up.

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
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  #158 (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
 
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para6ut View Post
FT,

Do you only take trades towards value? True or false ?

PS: Inspirational work all you do, great thank you!

False. I take trades that are based on a probability of some future thing happening. If the context is such that we are breaking away from value and are moving away (initiative moves), then I will go with that. But if the market is in balance, then I will trade to value on a choppy day.

In either case, I generally don't trade breakouts and am fading some time frame to capture another.

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
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  #159 (permalink)
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Compare and Contrast

Hi,

This is a question for Big Mike and FT71 that I have been wanting to ask for a while.

FT says he has a background as a scalper and still looks at shorter timeframes. Big Mike talks about how his smaller charts are 100K tick charts.

I would love it if you two would discuss what is different about your trading styles, and what is not.

In the areas where you diverge, how do you guys feel your styles fit personally, and in the areas where you find common ground, what do you agree are the most important and universal concepts for trading success?

Thanks,
-Bob

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  #160 (permalink)
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Pompano Beach, Florida, USA
 
Futures Experience: Beginner
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FuturesTrader71 View Post
I'm aiming to change the fact that you have to go from 1 to 2 contracts to trade a product like the ES. We are pushing the exchange (met with the CME today, in fact) to introduce micro-Index products to help people start at 2 or more. It is definitely tougher trading in a binary way (either 1 contract on or off).

The best way to manage a 1-lot really is to use a fixed trade management scheme and to have an approach that gives you many signals during the trading session. There is no great way to trade it since you can't bank any profits to let the runner run in this situation.


Wow, a micro ES (any/all micro-Index products actually) would be an awesome way for beginners to to learn the trading craft. Certainly wish you success in your efforts. And I'm looking forward to funding my S5 account soon, Cheers!

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