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


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

 
 
arnie's Avatar
 arnie 
Europe
 
Experience: Advanced
Platform: Jigsaw
Broker: Tradovate
Trading: Equities
Posts: 826 since May 2010
Thanks Given: 763
Thanks Received: 1,048

Hi FT.

Since you'd came from prop trading I'd like to hear your opinion when we hear people saying that scalping is basically dead due to HFT's, yourself when you say that as soon you got in on a position you stop looking at the DOM but when we search for prop firms what we see is their screens are DOM's.

So on one hand we have prop traders saying that scalping is basically dead, it's almost impossible for a human being compete with HFT's and all their algos that screws DOM reading but on the other hand we have most prop firms offering programs that are focused on scalping, putting traders looking at a DOM a trade based on it.


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arnie's Avatar
 arnie 
Europe
 
Experience: Advanced
Platform: Jigsaw
Broker: Tradovate
Trading: Equities
Posts: 826 since May 2010
Thanks Given: 763
Thanks Received: 1,048

Just to say that I just received the signed book The Chimp Paradox.
Many thanks @FuturesTrader71 and @Big Mike

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 tomozean 
berlin
 
Experience: Intermediate
Platform: ninjatrader x-trader
Trading: bund, zb, zn
Posts: 7 since Mar 2013
Thanks Given: 10
Thanks Received: 1


hi ft71,

i would like to learn more about campaigning. can you recommend a book or resource to dig deeper?

thanks,
tom

 
 
FuturesTrader71's Avatar
 FuturesTrader71 
 
Posts: 391 since Feb 2012
Thanks Given: 174
Thanks Received: 1,513


tomozean View Post
hi ft71,

i would like to learn more about campaigning. can you recommend a book or resource to dig deeper?

thanks,
tom

Hi Tom,

I'm not aware of a book that covers this subject. I am releasing our Trader Dev Program soon and it has a supplement on that.

Best,
FT71

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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 Bankrobber 
manchester
 
Experience: Intermediate
Platform: tradestation
Trading: oil
Posts: 59 since Mar 2010
Thanks Given: 16
Thanks Received: 25


FuturesTrader71 View Post
Hi Tom,

I'm not aware of a book that covers this subject. I am releasing our Trader Dev Program soon and it has a supplement on that.

Best,
FT71

Hi FT

What is the Trader Dev Program you mentioned? Do you have any further information on this?

 
 Yukoner 
Vancouver Island, Canada
 
Experience: Advanced
Platform: T4, IB, TD Ameritrade
Broker: Stage5
Trading: ES CL RTY Stocks
Posts: 58 since Nov 2013
Thanks Given: 163
Thanks Received: 130

Hi FT71,

I just finished listening to the webinar on futures.io (formerly BMT), "Getting started in scalping". As I listened to you do the demo trading of scalping, I noticed that I could hear you breathe. However, it sounded like you were breathing in a very specific pattern. If I had to guess at it, I would say deep breathing through your nose and exhaling through your mouth.

Have you trained yourself to breathe a certain way while trading? And if so, is this recommended to other traders?

Thanks in advance for your consideration.

Yukoner

PS. Excellent webinar btw.

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FuturesTrader71's Avatar
 FuturesTrader71 
 
Posts: 391 since Feb 2012
Thanks Given: 174
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Bankrobber View Post
Hi FT

What is the Trader Dev Program you mentioned? Do you have any further information on this?

Happy New Year!!!

This is a comprehensive process that I'm creating for trader training. I'm basically taking all of my prop experience and providing a course that approaches all traders the same way. This is very different than the traditional "here buy my indicator or buy my DVD, see you later" type of thing. There will be more details as it gets closer to being done.

In fact, the only reason I was part of starting Stage 5 Trading is to develop a prop trading environment but for all online traders. It is a complex task but we are getting there slowly.

Cheers!
FT71

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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FuturesTrader71's Avatar
 FuturesTrader71 
 
Posts: 391 since Feb 2012
Thanks Given: 174
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Yukoner View Post
Hi FT71,

I just finished listening to the webinar on futures.io (formerly BMT), "Getting started in scalping". As I listened to you do the demo trading of scalping, I noticed that I could hear you breathe. However, it sounded like you were breathing in a very specific pattern. If I had to guess at it, I would say deep breathing through your nose and exhaling through your mouth.

Have you trained yourself to breathe a certain way while trading? And if so, is this recommended to other traders?

Thanks in advance for your consideration.

Yukoner

PS. Excellent webinar btw.

Happy New Year!!

I get a lot of emails and notes from all over the place. It is very interesting that those from futures.io (formerly BMT) are consistently the most detailed and the most observant. Credit can only go to Big Mike for that.

As far as your question, although I have a heightened state of emotion while in a trade until I get my first scale out, it is a habit to be aware of my breathing and to focus only on those things that affect my next trade decision rather than on my P&L or how things are going with the market confirming my bias. I'm not aware of it now, but I remain consistently calm through my trades whether they last for hours or are just heavy size + very short term. It doesn't matter. My state of agitation or emotional turbulence can only thwart my plan and it can't contribute to it. So it is key for me to just being self-aware and calm. This is something that becomes very obvious to most traders I have worked with when they start trading larger and larger size.

These are subtle but very important things. Just remember, you are not the same person who is in the trade as you were before the trade (this is my experience and my opinion).

I hope that makes sense.

Best,
FT71

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
Follow me on Twitter
 
 Yukoner 
Vancouver Island, Canada
 
Experience: Advanced
Platform: T4, IB, TD Ameritrade
Broker: Stage5
Trading: ES CL RTY Stocks
Posts: 58 since Nov 2013
Thanks Given: 163
Thanks Received: 130


FuturesTrader71 View Post
Happy New Year!!

I get a lot of emails and notes from all over the place. It is very interesting that those from futures.io (formerly BMT) are consistently the most detailed and the most observant. Credit can only go to Big Mike for that.

As far as your question, although I have a heightened state of emotion while in a trade until I get my first scale out, it is a habit to be aware of my breathing and to focus only on those things that affect my next trade decision rather than on my P&L or how things are going with the market confirming my bias. I'm not aware of it now, but I remain consistently calm through my trades whether they last for hours or are just heavy size + very short term. It doesn't matter. My state of agitation or emotional turbulence can only thwart my plan and it can't contribute to it. So it is key for me to just being self-aware and calm. This is something that becomes very obvious to most traders I have worked with when they start trading larger and larger size.

These are subtle but very important things. Just remember, you are not the same person who is in the trade as you were before the trade (this is my experience and my opinion).

I hope that makes sense.

Best,
FT71

@futures71 , yes that makes complete sense. Appreciate you sharing! I find it interesting the part about trading bigger and bigger size, and how important it is to be self-aware and calm.

Now I am trying to figure out who I become once I am in the trade.... and how to get the previous guy to stick around a bit longer.

Thanks for the answer.

Yukoner

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Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,398 since Jun 2009
Thanks Given: 33,173
Thanks Received: 101,537


On Tuesday, Feb 3 @ 4:30PM Eastern, @FuturesTrader71 (Morad Askar) will be doing a special webinar on futures.io (formerly BMT). The webinar will be an extended Q&A session (like an Ask Me Anything) where Morad will field questions from users and answer a broad range of topics.

Prizes will be given away...

Attend live to get your own personal questions answered.

Mike

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