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

  #171 (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: 46,237 since Jun 2009
Thanks: 29,350 given, 83,154 received

Thread on the SP500 ES/SP e-micro:

https://futures.io/index-futures-trading/28002-micro-es-s-p-500-futures-contract-sp500-contract-coming-e-micro.html

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.

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  #172 (permalink)
Elite Member
Pompano Beach, Florida, USA
 
Futures Experience: Beginner
Platform: S5 Trader, Ninja Trader
Broker/Data: Stage5/ IQfeed
Favorite Futures: M6E, M6A, 6E, 6A, ES
 
lifeguardsteve88's Avatar
 
Posts: 159 since Jun 2013
Thanks: 272 given, 115 received

Mind Over Markets

Just want to thank FT71 for recommending "Mind Over Markets". Being someone who has zero experience in finance or the markets, reading that book (well, I'm only several chapters in) has really helped me understand the mechanics and uses of market profile. Looking forward to the next AMA.

Cheers!

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  #173 (permalink)
Elite Member
Pompano Beach, Florida, USA
 
Futures Experience: Beginner
Platform: S5 Trader, Ninja Trader
Broker/Data: Stage5/ IQfeed
Favorite Futures: M6E, M6A, 6E, 6A, ES
 
lifeguardsteve88's Avatar
 
Posts: 159 since Jun 2013
Thanks: 272 given, 115 received

Thanks to All


I was going through some webinars yesterday and heard FT71 mention that he uses a 2000 volume chart for the ES. I'm just beginning to work up my strategies, and although I am happy with how things are going so far, I can't say I'm anywhere near locked in on them yet. I've been using mostly time or tick chart variations with my strategies with moderate success. But something I never even considered before was how different chart types (range, volume, tick, time) might have such a drastic effect on results of the strategy you are using (or trying to formulate). I never considered trying a volume chart before.... but I figured if FT71 uses a 2000 volume chart on the ES, then it's definitely worth giving it a try. Now I know it's only been one day, but the 2000 volume chart is just making me look like a rock star!!! I have no illusions that I have found the missing "key" to my particular strategy.... but it has opened this beginners eyes to considering All the variables involved that may be helping or hindering a particular strategy.

Many thanks to @FuturesTrader71 and all the other great folks on futures.io (formerly BMT) that give of their time and knowledge for the benefit of others.

Cheers!

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  #174 (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, 83,154 received

Tip


There will be a Live AMA session on Tuesday, July 23rd @ 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/756301062




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 4 users say Thank You to Big Mike for this post:
 
  #175 (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: 46,237 since Jun 2009
Thanks: 29,350 given, 83,154 received


Big Mike View Post
Tip


There will be a Live AMA session on Tuesday, July 23rd @ 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/756301062




Mike

Bump reminder for tomorrow's AMA.



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:
 
  #176 (permalink)
Elite Member
Amsterdam, The Netherlands
 
Futures Experience: Intermediate
Platform: Sierra, IRT, ToS, Ninja
Broker/Data: Stage 5
Favorite Futures: NQ
 
bob7123's Avatar
 
Posts: 583 since Oct 2011
Thanks: 105 given, 1,872 received


bob7123 View Post
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


FuturesTrader71 View Post
Hi Bob,

Sorry I didn't see this before the AMA session. We answered it during that session though.

Thanks for asking.

FT71

I think you guys did a great job answering half of my question last time. You talked about the differences between your two trading styles.

Sorry for asking a long question in the first place, but this time could the two of you take a stab at where your find common ground with regard to what is important for trading success?

Thanks!

-Bob

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  #177 (permalink)
Elite Member
Georgia, US
 
Futures Experience: None
Platform: Various
Favorite Futures: Various
 
josh's Avatar
 
Posts: 4,898 since Jan 2011
Thanks: 5,143 given, 11,240 received

Question for the AMA:

This morning, FT tweeted "ES opening on the edge of yesterday's range. Expecting responsive selling at open." Why expecting responsive selling in this context?

Thanks!

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  #178 (permalink)
in a meditative state...
Portugal
 
Futures Experience: Advanced
Platform: Multicharts, Jigsaw
Broker/Data: Stage5, OEC
Favorite Futures: Treasuries
 
arnie's Avatar
 
Posts: 801 since May 2010
Thanks: 709 given, 976 received


josh View Post
Question for the AMA:

This morning, FT tweeted "ES opening on the edge of yesterday's range. Expecting responsive selling at open." Why expecting responsive selling in this context?

Thanks!

I assume since we opened out of range so the probability is for traders to seek balance, yesterday's balance, hence the responsive selling.
Also, since the ON inventory was clearly bullish, at the open we could have traders trying to "clean" that inventory.

Unfortunately we went through it and test yesterday's balance low (VA low). This really don't give a good perspective to see new highs above the ON high, but than again, it's still early.

Now we are having issues against today's developing area so until we break above it, shorts will be alive and kicking.

If I become half a percent smarter each year, I'll be a genius by the time I die
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  #179 (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
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lifeguardsteve88 View Post
I was going through some webinars yesterday and heard FT71 mention that he uses a 2000 volume chart for the ES. I'm just beginning to work up my strategies, and although I am happy with how things are going so far, I can't say I'm anywhere near locked in on them yet. I've been using mostly time or tick chart variations with my strategies with moderate success. But something I never even considered before was how different chart types (range, volume, tick, time) might have such a drastic effect on results of the strategy you are using (or trying to formulate). I never considered trying a volume chart before.... but I figured if FT71 uses a 2000 volume chart on the ES, then it's definitely worth giving it a try. Now I know it's only been one day, but the 2000 volume chart is just making me look like a rock star!!! I have no illusions that I have found the missing "key" to my particular strategy.... but it has opened this beginners eyes to considering All the variables involved that may be helping or hindering a particular strategy.

Many thanks to @FuturesTrader71 and all the other great folks on futures.io (formerly BMT) that give of their time and knowledge for the benefit of others.

Cheers!

I actually use 2500v as the trigger chart.

Hopefully, as you develop as a trader, your strategy and approach are a living process that changes gradually on a weekly basis.

I use volume bars because it helps me see how active the market is. Having 1000 1-lots trade to form a bar is much different to me than having those show up as an incomplete volume bar. On a tick chart, that may be enough to form another bar.

Just remember that ultimately, it won't be a technical indicator, chart type or tool that makes you who you are as a trader. It is about your habits and discipline first and foremost. So whatever you decide to stick with, just do it consistently and long enough to see whether or not it needs to be changed.

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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  #180 (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, 784 received



bob7123 View Post
I think you guys did a great job answering half of my question last time. You talked about the differences between your two trading styles.

Sorry for asking a long question in the first place, but this time could the two of you take a stab at where your find common ground with regard to what is important for trading success?

Thanks!

-Bob

I would be interested in exploring this, but I think this would be a lengthy discussion. We trade on completely different time frames, so our views will be fundamentally different.

I'm curious, what question are you really seeking to answer from this discourse? Are you trying to figure out what time frame you should be trading in?

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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