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


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

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  #261 (permalink)
PTA, Gauteng
 
Experience: Advanced
Platform: Self built + Sierra + TWS
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DarkPoolTrading's Avatar
 
Posts: 1,036 since May 2012
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DarkPoolTrading View Post
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.

Happy new year FT71,

I would like to add the following to my above question.

I've found myself moving away from caring very much about the current day's market development (a stark turnaround from the way I traded even a few months back). I now prefer to base trades off of the larger context and areas of interest that have developed over a number of days.

To my question, how much weight do you give the current day's market development? How do you differentiate the signal from the noise if basing trades on today's development? Personally I try to follow what the market is trying to do in terms of value. But I no longer put much faith in intraday levels because I consider so much of intraday action to be noise. For example I find it hard to put faith in an LVN that is busy developing today, until the day is over.

Sorry if the question is a bit vague.

Looking forward to your thoughts on this and my prior question above.

Thanks.

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  #262 (permalink)
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Hi FT,

Please see is my question re swing vs levels:

A) in an area of interest, where you are expecting a reversal and have planned to take the trade, the swing histogram (for ES) makes a 3 point rotation that coincides with the level of interest - so 1 more reason to take the trade. Perfect.

B) Same as before, but the swing histogram is not turning as it reaches the level of interest and has travelled just 1 point from the most recent swing. How much of a weighting in % would you give on the swing histogram in this case?

Am I right in thinking that statistically option A) is very rare and B) is the most common case?

Many thanks,

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  #263 (permalink)
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Manta, Ecuador
 
Experience: Advanced
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Hi guys,

Most of you know I am in the process of moving to Ecuador (first of March). I have a lot going on. However, I also want to honor the prior commitments of having regular "AMA" sessions with FT71 on the site.

So here is the thing. I need you to vote through the use of the "Thanks" button. If you really, really want one AMA between now and March before I move, then Thank this post. If I get more than 100 thanks in the next few days then I'll schedule it with FT71.

If not, the AMA's will resume after I get settled a bit in Ecuador - sometime towards the end of March.

Mike

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  #264 (permalink)
Chicago, IL, USA
 
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Big Mike View Post
Hi guys,

Most of you know I am in the process of moving to Ecuador (first of March). I have a lot going on. However, I also want to honor the prior commitments of having regular "AMA" sessions with FT71 on the site.

So here is the thing. I need you to vote through the use of the "Thanks" button. If you really, really want one AMA between now and March before I move, then Thank this post. If I get more than 100 thanks in the next few days then I'll schedule it with FT71.

If not, the AMA's will resume after I get settled a bit in Ecuador - sometime towards the end of March.

Mike

Hey Mike,

I appreciate the gesture. I really think that we should wait until you are settled in. It does not make any sense to host another AMA until you have moved, rested and are settled in.

Best,
FT71

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  #265 (permalink)
Chicago, IL, USA
 
Experience: Advanced
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FuturesTrader71's Avatar
 
Posts: 304 since Feb 2012
Thanks: 117 given, 1,131 received

I have to confess that I haven't been able to keep up with the AMA thread for some time. I know there are a lot of unanswered questions. We have been immersed in several projects and have been helping folks from Mirus find a suitable clearing arrangement, so that has been tying us up.

In order to catch up, I have decided to create a small video with your questions and to answer them on screen rather than in writing. I will link the video to each question so you can be notified of a reply. This hasn't been done before, but I think it will work out and will be the most efficient way to do this.

Again, I'm making myself more available to you to support you in your effort to consistency. I will probably create this video over the weekend, so this is a great time to ask further questions (no repeats please).

Thanks,
FT71

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  #266 (permalink)
PTA, Gauteng
 
Experience: Advanced
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DarkPoolTrading's Avatar
 
Posts: 1,036 since May 2012
Thanks: 1,244 given, 1,318 received


DarkPoolTrading
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.


DarkPoolTrading View Post
Happy new year FT71,

I would like to add the following to my above question.

I've found myself moving away from caring very much about the current day's market development (a stark turnaround from the way I traded even a few months back). I now prefer to base trades off of the larger context and areas of interest that have developed over a number of days.

To my question, how much weight do you give the current day's market development? How do you differentiate the signal from the noise if basing trades on today's development? Personally I try to follow what the market is trying to do in terms of value. But I no longer put much faith in intraday levels because I consider so much of intraday action to be noise. For example I find it hard to put faith in an LVN that is busy developing today, until the day is over.

Sorry if the question is a bit vague.

Looking forward to your thoughts on this and my prior question above.

Thanks.

Hi FT71,

I would like to add another question to the above if possible. (if im hogging all the questions, please feel free to just choose whichever one you think would add the most value by addressing).

If I recall correctly you draw your composite profiles covering the last major swing. That makes sense to me and is what I do, because for purely day trading purposes I don't find value in a profile dating back several years and several overlapping swings. No doubt for longer term trading this would be useful.

However at what point would you start a new composite profile. It is often not apparent that a new major swing has started until it is well underway.

Many thanks.

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  #267 (permalink)
NC
 
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Posts: 28 since Aug 2010
Thanks: 22 given, 13 received

Hello,
Is there someone that you recommend that I could learn from that uses the Volume Profile analyzing the Oil market?

I know that the concepts are the same for every market, I would be interested in comparing my analysis of that market with that of someone you may trust.

Thanks very much.

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  #268 (permalink)
Site Administrator
Manta, Ecuador
 
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Big Mike's Avatar
 
Posts: 48,905 since Jun 2009
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Now that I am starting to settle in here in Ecuador, I am going to slowly start resuming the webinars/AMA schedule.

To that end, @FuturesTrader71 will be back on futures.io (formerly BMT) on Tuesday April 1st at 12PM eastern for an AMA. I will provide the link in the next few days.

Mike

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  #269 (permalink)
Site Administrator
Manta, Ecuador
 
Experience: Advanced
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Big Mike's Avatar
 
Posts: 48,905 since Jun 2009
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Tip


There will be a Live AMA session on Tuesday, April 1st @ 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/742949822




Mike

We're here to help -- just ask

For the best trading education, watch our webinars
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Support our community as an Elite Member:
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  #270 (permalink)
Chicago, IL, USA
 
Experience: Advanced
Platform: CT Bookmap, IRT
Broker: EdgeClear.com using Rithmic/IQFeed
Trading: ES, CL, RTY
 
FuturesTrader71's Avatar
 
Posts: 304 since Feb 2012
Thanks: 117 given, 1,131 received



Big Mike View Post
Tip


There will be a Live AMA session on Tuesday, April 1st @ 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/742949822




Mike

Thanks for having me back on, Mike. I hope you are completely settled in and acclimated to your new environment.

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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