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FuturesTrader71 (FT71) / Morad Askar - Ask Me Anything (AMA)
Started:March 7th, 2013 (03:35 PM) by Big Mike Views / Replies:104,142 / 510
Last Reply:December 6th, 2016 (08:28 PM) Attachments:19

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

Old March 31st, 2014, 04:56 PM   #281 (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: 229 since Feb 2012
Thanks: 49 given, 746 received


Royal Flush View Post
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.

Royal Flush,

I draw trend lines on ES all the time. The premium/rollover doesn't matter if you use adjusted continuous data like DTN provides. You will not see a jump in price when the contract rolls or expires. I don't take shortcuts with my data. In my opinion, DTN IQFeed is the best time after time. Although S5 Trader has a free real time feed, I still use a subscriber feed for my data.

By the way, if you have never used DTN IQfeed, they have extended an exclusive special offer to my followers for 1/2 off for 3 months using this link: https://www.iqfeed.net/futurestrader71/index.cfm?displayaction=start&promo=1996499

Something to consider. It may be helpful to some.

Best,
FT71

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.


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Old March 31st, 2014, 04:57 PM   #282 (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: 229 since Feb 2012
Thanks: 49 given, 746 received


spikebuck77 View Post
On the ES contract do you include the overnight session when finding lvn and hvn levels or are those drawn from the cash market session only?
Thanks

I don't give much weight to overnight data, but I do look at it to figure out what could possibly happen on the open. However, actual levels are base on day session data only. I can cover reasons in an AMA.

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.


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Old March 31st, 2014, 04:59 PM   #283 (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: 229 since Feb 2012
Thanks: 49 given, 746 received



DeadCatBounced View Post
Hey FT

Was listening to your last webinar and you mentioned that some of your good traders on ES had tick expectancy of 2-4. What would you consider a good tick expectancy for CL to be?

Same amount. The goal is to have a decent but modest expectancy. Nothing huge. If you can maintain that expectancy, then the next step (assuming you don't watch your P&L all day, would be to add size and build on that consistency.

I want to remind you that trading futures consists of significant leverage and is not suitable for all investors.

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.


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Old March 31st, 2014, 05:10 PM   #284 (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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lifeguardsteve88 View Post
From my understanding of FT's trading (at least from watching him live trade the M6E once on a webinar he did) is that the first scale needs to be far enough out so that you can move your stop to the theoretical average after the first scale and still give the trade enough breathing room to succeed further. In his live trade he had a 3 contract trade where the scales were 9, 14, and runner. So once he got filled on his first scale at 9 ticks he could move his remaining two stops to the theoretical average, BE -4 (or five, can't remember which he used). This still gave him 14 (or 13) ticks of reversal room for the remainder of the trade, and since the harmonic rotation of the M6E is 14 (which by the way 14 was his original stop location at trade initiation), he basically still had the same breathing room for the last two contracts as he did when he initiated the trade.

Cheers!

PS- and he was spot on in that trade- got filled on the first to scales and rode his runner all the way to where he had called out an area of impediment (ahead of time) and closed the trade there. The dude Rocks!

Oh yeah, completely forgot I had done that video with the CME Group. This is basically what I mean by saying "take and manage trades to make the market work hard to get your stop". This is always my objective.

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.


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Old March 31st, 2014, 05:13 PM   #285 (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: 229 since Feb 2012
Thanks: 49 given, 746 received

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para6ut View Post
FT,

By getting my first scale I increase my theoretical average, but if I don't move my stop to give more breathing space

to my second scale, what will the benefit of the early scale be ? ( Maintaining consistency, comes to mind?)

Thanks!


And a second question please - you often mention as your trading target for your style of trading ( short to mid duration scalps on ES ) 2 points per contract on average, which confuses me a little
My question is - from the 'All in' start to the last scale - how much of a 'journey' in points do you make

Thank you and all best,
Ves

First question was answered by lifeguardsteve.

2nd question's answer: This is very dependent on the market condition that I'm trading. Many trades only go 2.5 or 3 pts before they turn and others would just keep going with a runner for hours. Hard to answer with a specific metric.

My goal remains for any given trade: I'm going for a modest but consistent goal of 2 pts average per contract trade.

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.


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Old March 31st, 2014, 05:15 PM   #286 (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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Hi Joselopezde,

I would love to do this, but it is very time consuming. I can't promise I can pull this off, but I will give it a shot.

Best,
FT71

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.


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Old March 31st, 2014, 05:17 PM   #287 (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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bathrobe View Post
Hey FT, I was wondering if you or anyone else on futures.io (formerly BMT) has an excel expectancy spreadsheet that you could upload for those of us who have trouble with excel to download?

Thanks.

Can you describe what you are looking for? Expectancy is a simple formula: (avg win amount x win%) - (avg loss amount x loss%)

Don't use $ for this. Just use ticks. Look at trading as ticks. A tick is a tick. $$ bring in too much disturbance and is not a useful way of looking at things.

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.


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Old March 31st, 2014, 05:22 PM   #288 (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: 229 since Feb 2012
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josh View Post
@FuturesTrader71, this morning you tweeted "What is the current profile saying to us so far?"

The picture at that time looked like this:

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To which you later said: "It is saying that both sides are fighting on a range of prices. Both sides are interested at these prices."

My answer was "No consensus on value."

My question for you: how would the profile look different for "no consensus on value" versus "both sides are interested"? I suppose they are similar concepts, but one implies that neither side is too interested, while the other says that both are interested.

This profile shows clear consensus on value (3/31/14
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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.


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Old March 31st, 2014, 05:24 PM   #289 (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: 229 since Feb 2012
Thanks: 49 given, 746 received

Am I caught up?

Hello Traders,

I think I'm finally caught up on questions on this thread... or am I?

If you have a question that hasn't been answered, please ask it in tomorrow's AMA or repost it.

Thanks,
FT71

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.


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Old March 31st, 2014, 10:33 PM   #290 (permalink)
Market Wizard
Austin, TX
 
Futures Experience: Intermediate
Platform: F-16CM-50
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Can someone provide a link to the CME video where FT71 traded the M6E mentioned early?

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