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

  #241 (permalink)
Elite Member
Stanstead, Quebec, Canada
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: CL
 
Royal Flush's Avatar
 
Posts: 122 since Dec 2010
Thanks: 71 given, 64 received

I am looking for the optimum instrument on which to draw trend lines and trend channel lines on daily charts of the S&P 500. I presume it is not with the SPY because it's value gaps down every 3 months with dividends. Nor would it be with the ES futures becuse it's premium/discount also changes with time to eventually align with the index. This leaves the SPX index itself.

However I know that drawing trend lines on multiple day charts works better using ES RTH than Equity RTH. So over an extended period of time (months) what is the optimum vehicle? Thanks for you contibution of time and sharing of knowledge FuturesTrader71.


Last edited by Royal Flush; November 1st, 2013 at 06:38 PM.
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  #242 (permalink)
Elite Member
copenhagen
 
Futures Experience: Beginner
Platform: ninjatrader
Favorite Futures: ES
 
Posts: 88 since Jun 2013
Thanks: 8 given, 41 received

Can volume profile also be used for stocks?

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  #243 (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, 83,156 received


Tip


There will be a Live AMA session on Tuesday, November 19th @ 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/526917438




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.

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The following user says Thank You to Big Mike for this post:
 
  #244 (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, 83,156 received

AMA room is now open.

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:
 
  #245 (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, 83,156 received

I want to thank @FuturesTrader71 for his time today as always.

Here is today's recording:



If you did not get your question answered, please post it in the thread and FT71 will do his best to answer.

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:
 
  #246 (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, 83,156 received

Tip


There will be a Live AMA session on Tuesday, December 10th @ 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/858354022




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:
 
  #247 (permalink)
Elite Member
Toledo,OH,United States
 
Futures Experience: Intermediate
Platform: tradestation
Favorite Futures: tf
 
Posts: 8 since Nov 2010
Thanks: 31 given, 4 received

prop firm similar to topstep or a couple others

Hi FT71,

Love all your webinars any chance in future you will be starting up a remote prop firm similar to topstep or some of the other ones out there just curious. Thanks, bob.

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  #248 (permalink)
 Vendor: diversifyportfolio.com 
PTA, Gauteng
 
Futures Experience: Advanced
Platform: Self built + Sierra + TWS
Favorite Futures: Stocks and Options
 
DarkPoolTrading's Avatar
 
Posts: 1,035 since May 2012
Thanks: 1,244 given, 1,301 received

Mike, as I will be unable to attend todays AMA live, please will you ask FT71 the following if possible:

- After the market has been in balance for a few days, the day which finally breaks out of balance is often a strong trend day. On days like this you can really get hurt if you're still trading under the assumption that the market is in balance.

While the market is still within balance, what clues do you look for that it may be looking for a move out of balance on a particular day so that you dont end up fading all day.

Many thanks.

Diversification is the only free lunch
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  #249 (permalink)
Elite Member
Charlotte, NC
 
Futures Experience: Intermediate
Platform: Tradestation, Ninja Trader
Favorite Futures: Forex
 
Posts: 34 since Sep 2012
Thanks: 25 given, 49 received

Coaching

FT71, can one be a good self coach (as in Brett Steenbarger's book), or do you recommend gettting an actual coach? If an actual coach is recommended, what is the best way to get a good coach?

Thanks

Hector

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  #250 (permalink)
Elite Member
Snoqualmie, WA
 
Futures Experience: Advanced
Platform: NinjaTrader
Favorite Futures: TF, 6E and 6S
 
Posts: 26 since Jun 2010
Thanks: 7 given, 8 received



hectormas View Post
FT71, can one be a good self coach (as in Brett Steenbarger's book), or do you recommend gettting an actual coach? If an actual coach is recommended, what is the best way to get a good coach?

Thanks

Hector

Hector,
Since FT71 is doing morning trading plan updates and tweeting what's happening during the day, he is already being a coach for anybody that can recognize the value.
Jump on board Hector and learn from a pretty darn good trader!

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