FuturesTrader71 (FT71) / Morad Askar - Ask Me Anything (AMA) (Page 4) - Vendors and Product Reviews | futures.io
futures.io futures trading
 

Go Back   futures.io

> Futures Trading, News, Charts and Platforms > Traders Hideout > Vendors and Product Reviews


FuturesTrader71 (FT71) / Morad Askar - Ask Me Anything (AMA)
Started:March 7th, 2013 (03:35 PM) by Big Mike Views / Replies:104,181 / 510
Last Reply:December 6th, 2016 (08:28 PM) Attachments:19

Welcome to futures.io.

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.


You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple, and we will never resell your private information.

-- Big Mike
     

Reply
 19  
 
Thread Tools Search this Thread

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

Old March 18th, 2013, 05:49 PM   #31 (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: 229 since Feb 2012
Thanks: 49 given, 746 received


torroray View Post
Hi FT,

What is the harmonic rotation for YM?

Thanks

It is generally 12 ticks according to my studies. However, lately it has been more like 9 ticks. The YM has been really slow given this low range, low volatility rally.

I suggest, however, that you study the rotations for YOUR particular chart. If you are triggering off of a 3 min chart, then determine what it is for that chart. We can cover that some time.

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
Reply With Quote
     
The following 4 users say Thank You to FuturesTrader71 for this post:
     

Old March 18th, 2013, 05:56 PM   #32 (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: 45,552 since Jun 2009
Thanks: 28,888 given, 80,186 received

Thanks FT. A couple more ...

- When do you expect your new website to be up?
- Can the customer choose his FCM of choice when opening the account?
- Do you support ACH transfers out? Is there a fee?
- How do you handle sub-accounts? I like to have different accounts for different styles of trading. Is there a master balance that can be divided across multiple sub-accounts for risk assessment (margin)? How would your metrics work with more than one account?

Thx again for your time. Sorry I don't have any profile questions for you

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 2 users say Thank You to Big Mike for this post:
     

Old March 18th, 2013, 05:56 PM   #33 (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: 229 since Feb 2012
Thanks: 49 given, 746 received



RichardHK View Post
FT71,

Thanks for your excellent presentation this week. Just one question please:

Q: Given your use of harmonic rotation at 2 to 2.5 points in the ES, do you keep at 1 point stop on all trades as shown in tables?

If 1 point max stop, entries need to be very good of course. Is that what you rely on, or have I got it wrong and you will use wider stops (price action/whatever) also?

Thanks for any comments.

My ES harmonic rotation is 2.5 to 3 pts; not 2 pts.

No, I don't use a 1 pt stop currently. That is what I was doing when I was collecting that data. Today's market tends to churn a lot before pushing in a direction that may be favorable to the position. 5 years ago, a trader found out fairly quickly what the outcome of the trade is fairly quickly. Post 2008/2009, the market tends to battle in a zone for a lengthy period before one side steps in and pushes in a direction. I feel like a wider stop is necessary unless you don't mind getting chopped up a lot until you catch a runner.

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
Reply With Quote
     
The following 4 users say Thank You to FuturesTrader71 for this post:
     

Old March 18th, 2013, 06:24 PM   #34 (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: 229 since Feb 2012
Thanks: 49 given, 746 received


podski View Post
Hi FT,

Can you post the PPT of your slides from the webinar ?


best regards

podski

I can't provide the PPT file but I have provided a PDF of the slides. There are other things I displayed that are not part of the slide show.

http://www.futurestrader71.com/media/BigMike/2013-03-7-BigMike.pdf

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
Reply With Quote
     
The following 2 users say Thank You to FuturesTrader71 for this post:
     

Old March 18th, 2013, 06:30 PM   #35 (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: 229 since Feb 2012
Thanks: 49 given, 746 received

Futures Edge on FIO

gparkis View Post
something that does not seem to be addressed when dealing with this all in all out or scaling approach, number of trades is never factored into the expectancy.

when running the math on a sample the outcome can change dramatically.

all the examples I seem to find are great at showing single variable examples but not with trade number involved.

if one trader is an all in all out and another is an all in scale out, while the scale out trader is taking off his positions in his favor, the all in all out trader could have had three full trades in that same time/price period and the risk reward profile is very different.

considering both styles are putting on the same, largest size at trade entry, the all in all out trader will better cover his losses over time then the scaling trader. when I do this analysis I am looking at being defensive and protecting bank roll not psychology stroking myself.

this one aspect made a world of difference in my risk and reward profile. where once as a scale out trade the final portion of trade might have been grabbing 20 ticks but the all in all out would have had 4 trades in that time period which pulled out almost 8x as many ticks.

Good point, but I disagree. This could be a lengthy topic. While I can argue that I can scalp multiple times around a swing trader and extract many more points, that is not the audience I'm addressing. From a strictly mathematical perspective, all-in and all-out is superior in the instance of someone using short targets and trading more frequently. But this trader must also have gotten over their psychological hang-ups. In my experience, the trading plan (if there even is one) is not the problem. The issue is fear and psychology.

Again, this can definitely be a lengthy topic. My perspective is inspired by what most folks really deal with.

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
Reply With Quote
     
The following 2 users say Thank You to FuturesTrader71 for this post:
     

Old March 18th, 2013, 06:30 PM   #36 (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: 229 since Feb 2012
Thanks: 49 given, 746 received


Big Mike View Post
Let's keep things organized. There is a separate thread for the webinar:
https://futures.io/elite-circle/25427-webinar-futurestrader71-ft71-trade-management-techniques.html

Mike

Sorry. I didn't see this until just now. Feel free to move my reply as well.

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
Reply With Quote
     
The following user says Thank You to FuturesTrader71 for this post:
     

Old March 18th, 2013, 06:35 PM   #37 (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: 229 since Feb 2012
Thanks: 49 given, 746 received


Big Mike View Post
@FuturesTrader71,

Does your trading change should we make new all time highs in the ES? Since there are no prior resistance levels or CLVN's and etc to measure against or target, what changes do you make if any?

Mike

Yes, it does change. I'm not a fan of this Fed-driven, 1-way trade. The market usually goes into price discovery and then re-auctions lower levels to make sure there is a base. It is a bit like building a staircase and then walking down and bouncing a bit to make sure that it is sturdy for the higher structure above.

The best analogy would be: It would be like a surgeon who operates at a top notch hospital in Chicago with MRI's, CT Scanners and a good set of tools suddenly finding him/herself operating out of a tent in Darfur. We can still get the job done, but it is not as clean nor pretty.

I resort back to rotation statistics, measured moves, patterns, daily statistics, etc. The volume profile leaves a clear footprint of what is going on in certain areas. The alternative is to get the data, adjust it and apply it to my charting software to see what was above from before September 2005.

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
Reply With Quote
     
The following 3 users say Thank You to FuturesTrader71 for this post:
     

Old March 18th, 2013, 06:48 PM   #38 (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: 229 since Feb 2012
Thanks: 49 given, 746 received


Alanelcheco View Post
Hello,

Why are markets correlating? (TF,ES,YM,DAX,FESX...) If the price is moved especially by Big Boys how they are so interconnected in all these markets?

Thank you very much,
Alan

The market operates a DNA chain. When one molecule changes, there is a complex reaction across what might seem like unrelated parts of the chain. The products you are referring to are all Equity Index products. The FDAX/FESX are governed by their underlying German/European stocks until the US market opens. Once the US market opens, there are other correlations that come into play because the companies underlying the indices are global.

For example, a semi-conductor plant in Singapore burns down and you will see a reaction in all equity index products because it affects everyone from Dell to HP to Samsung to Siemens to Boeing and so on.

If Siemens reports great earnings in Europe through its electronics sales division, then other companies across the world are likely to see a boost in that sector and so investors would react accordingly.

As an individual, you can now participate in the market through many avenues. You want to be heavily weighted in technology in your portfolio? You might buy QQQQ's, XLK, outright AAPL or GOOG stock or you can buy the options on those stocks or options on the index or options on the ETF or simply go and buy NQ, etc etc.

One word of caution, trading one index by using the movement of another is a game that I cut my teeth on as a trader. It is no longer smart to initiate a position based on one product's movement over another (buy ES because TF is breaking new highs, etc).

As always, those are my opinions and anything can happen.

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
Reply With Quote
     
The following 6 users say Thank You to FuturesTrader71 for this post:
     

Old March 18th, 2013, 06:53 PM   #39 (permalink)
Membership Temporarily Revoked
Birmingham, AL
 
Futures Experience: Advanced
Platform: Sierra
Broker/Data: several
Favorite Futures: several
 
Posts: 1,065 since Apr 2012
Thanks: 713 given, 2,767 received

@FuturesTrader71

I stalked an initial short this morning at 42 based on the fact that we had gapped down hard, pulled back to 1) a resistance area, 2) the lower end of an up channel/wedge, and 3) as well as the overnight highs at 43. So I felt there was some confluence for a short there technically. (Based on what I look at). I waited for orderflow to start getting absorbed at the area, and took the trade.

You can see the entry under the red arrow down on the chart here.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


My question is this (with the understanding that of course losers are inevitable and that's fine):

I don't currently using any volume profiling tools. In your opinion, did volume profiling/or related tools scream not to take this short trade? I'm always looking for ways to enhance my edge, and I totally buy into the auction market stuff.

I switched to long, quite soon after stopping out of the short, and managed that position for most of the remainder of the day, but I'd really appreciate any commentary on the initial short. Yes there were opportunities to scratch the trade, but I'm going off your principle of not trying to get "smarter" during a trade.

THANKS FOR ALL THAT YOU DO!

-Merritt

Reply With Quote
     
The following user says Thank You to indextrader7 for this post:
     

Old March 18th, 2013, 07:00 PM   #40 (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: 229 since Feb 2012
Thanks: 49 given, 746 received



bijeremiad View Post
Many traders encourage you to find a market/instrument and time frame that "fits you".

As you have helped traders improve when/where does instrument selection fit it in their development?
  • before a trader has assessed his style or "personality" do you help one choose and instrument or time frame? How do you assess that?
  • at what point to you suggest a different time frame or instrument (after gross profitability is achieved, after net profitability?)
  • at what point would you suggest that instrument/time frame is inappropriate for a trader?

Product selection has many dimensions including account size, liquidity, trading hours for the underlying products, risk tolerance, tick size, fees/commissions as a ratio to range value, market conditions, etc. A whole lot depends on your temperament; are you ok sitting in something like the 10-yr notes where it might not move from the bid/offer prices you entered at for 15 minutes? Do you prefer the zip and power of the FDAX? Can your account afford the margin? Can you afford a $780 per contract move in the FDAX on a news in 12 seconds?

I would only suggest a different time frame or instrument as a last resort really. The idea in trading, in my opinion, is not to treat the market like a casino where you can play Blackjack and then switch to nickle slots then quarter slots and then roulette or craps for entertainment and action. The market is more like the selection of a skilled craft to pursue. If you are going to be a master cabinet maker, then you wouldn't be advised to be a plummer just because your plummer friend is busy for 6 months and is making money.

In my opinion, it is best to get REALLY, REALLY good at whatever you choose. What I see the most of is folks who dabble and spend a bunch of money to learn and then lose a bit. Then they dabble some more somewhere else. Then they fall for a promise of great returns and dabble again because some guy is doing a free trial of his chat room.

This business is about committing a lot of energy for a one-pointed effort to master something specific. I believe that your ability to compete in this effort is based on having a structured approach, good record keeping and iron-clad risk management. This is what I'm focused on creating for traders now through the brokerage and new education material.

Look at it this way, you wouldn't be paid highly as a surgeon if you repair tires full time on the weekend for income. You get paid highly because you have committed to the craft of being a surgeon and are better and more dedicated at it than others.

Wouldn't you agree?

Good luck!

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
Reply With Quote
     
The following 8 users say Thank You to FuturesTrader71 for this post:
     

Reply



futures.io > Futures Trading, News, Charts and Platforms > Traders Hideout > Vendors and Product Reviews > FuturesTrader71 (FT71) / Morad Askar - Ask Me Anything (AMA)

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)
 

Al Brooks: Stop Losing when a Good Trade goes Bad, Correcting Mistakes

Elite only
 

Trading Technologies: ADL hands-on

Dec 13

Normal webinar schedule resumes after the holidays

January

Ernie Chan: Risk Management

Elite only

Dedicated Trading Servers: Advantages/Disadvantages w/sam028

Elite only

An Afternoon with FIO member Massive I

Elite only

Leo Murphy: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
FT71 www.futurestrader71.com review Big Mike Vendors and Product Reviews 26 July 31st, 2014 12:54 PM
Webinar: FuturesTrader71 (FT71) - Putting all the pieces together Big Mike Traders Hideout 15 March 16th, 2014 10:27 AM
Webinar: FuturesTrader71 (FT71) on Volume Profile Big Mike Traders Hideout 80 November 12th, 2013 09:06 PM
Webinar: FuturesTrader71 (FT71) Trade Management Techniques Big Mike The Elite Circle 90 March 14th, 2013 04:45 PM
Webinar: FuturesTrader71 (FT71) One-on-One, focusing on member Q&A Big Mike Traders Hideout 19 March 11th, 2013 07:54 AM


All times are GMT -4. The time now is 11:24 AM.

Copyright © 2016 by futures.io. All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
 
no new posts
Page generated 2016-12-09 in 0.22 seconds with 20 queries on phoenix via your IP 54.166.48.3