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FuturesTrader71 (FT71) / Morad Askar - Ask Me Anything (AMA)
Started:March 7th, 2013 (03:35 PM) by Big Mike Views / Replies:104,035 / 510
Last Reply:15 Hours Ago (08:28 PM) Attachments:19

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

Old August 6th, 2015, 12:55 PM   #441 (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: 48 given, 746 received


ganamide View Post
Thanks Morad! I really enjoyed watching these segments, and I look forward to watching more.

Do you have any words of wisdom on handling winning streaks? I have experienced several during my nearly 2 year career as a trader, and I wasn't sure how best to handle them. I noticed that I get feelings of elation, combined with fear of becoming overconfident in my trading. Things are a bit different during my current winning streak because I have lost a lot of money previously (so I feel like I deserve to win my money back) and I am currently trading sim until I build up a solid track record and accumulate a larger trading stake from my second job. However, the feelings I described mostly apply to my previous winning streaks with real money, albeit there weren't many big winning days, mostly many days of small wins.

BTW, any updates on the new training program?

Have you heard anyone ever say that it is easier to lose weight than to keep it off???? This is a similar issue.

The best way to handle a winning streak is to be clear about the habits that got you there and not to change them. Most people I have dealt with get a winning streak and all of a sudden they double their size and they really let their ego/monkey trade for them. They have it figured out so why do they need all of those rules that got them to win in the first place, right? Wrong!

On a winning streak, your goal is to do more of the same and to refine in very small ways. Look at your expectancy and set something slightly higher. Don't increase size until you feel like not increasing it puts you in a rut. If increasing size, then do so 1 lot at a time but only after the day has started and you are doing well at the beginning of it. So come in and put up a good trade or two and then add 1 more lot and manage it as part of the plan you already have. This is a better adjustment than trying to extend your targets or change how you manage trades, imo.

I hope that makes sense.

The Trade Development Program is still being built. I was killing myself for a while to get it done while I do a bunch of different things, but I have decided to slow down and really give the TDP its due attention. So I'm not concerned with when it gets released. It is probably the last thing I will do for the public; it will be that good, I think.

Watch your risk now that you are winning! Don't let that monkey deceive you into thinking that you are special now that you are making money trading. You hear me?!?!!

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
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Old August 13th, 2015, 01:09 PM   #442 (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: 48 given, 746 received

This week's Trade Wisdom Episode: Actionable Discipline

Hey traders,

Hoping that you are all taking advantage of this movement in the middle of August.

I posted another #TradeWisdom episode yesterday about Discipline. Please feel free to share the video or embed it where you seen necessary.

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.


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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Old August 18th, 2015, 11:20 AM   #443 (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: 48 given, 746 received


FYI: I'm holding an open AMA session (these happen once per month) today at 12 PM CT / 1 PM Eastern. You can join it by following this link: https://attendee.gotowebinar.com/register/5264437853132469249

It will be recorded and we can send a copy out to you if you register but don't attend.

Cheers!
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.


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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Old August 18th, 2015, 01:39 PM   #444 (permalink)
Elite Member
Huntington WV
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: ES, CL
 
TheTradeSlinger's Avatar
 
Posts: 402 since Jun 2015
Thanks: 638 given, 499 received

@FuturesTrader71,

Just wanted to thank you for the #TradeWisdom series of videos.

I'm finding a lot of value in the topics covered in that series and appreciate the "realness" and honesty in them.

Thank you

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Old September 2nd, 2015, 07:58 PM   #445 (permalink)
Elite Member
Oslo, Norway
 
Futures Experience: Intermediate
Platform: NT, Sierra
Broker/Data: IQFEED Stage5
Favorite Futures: ES
 
sixsmith07's Avatar
 
Posts: 306 since Jan 2014
Thanks: 278 given, 642 received

Futures Edge on FIO

Are you a NinjaTrader user?

 
@FuturesTrader71 loved that video a couple years back on the micro FX for the CME. I know you have been pushing of the micro ES but do you think the M6E is still something you would recommend to people or is the liquidity totally dead?

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Old September 2nd, 2015, 08:06 PM   #446 (permalink)
Elite Member
Montreal, Quebec/Canada
 
Futures Experience: Intermediate
Platform: Ensign, IB, Sierra Chart, Ninjatrader, Multicharts
Favorite Futures: CL, Stocks, 6C
 
Joshua1984's Avatar
 
Posts: 15 since Mar 2011
Thanks: 1 given, 17 received

Good liquidity on M6E


sixsmith07 View Post
@FuturesTrader71 loved that video a couple years back on the micro FX for the CME. I know you have been pushing of the micro ES but do you think the M6E is still something you would recommend to people or is the liquidity totally dead?


I have been trading M6E every day since July and never get slippage.

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Old September 3rd, 2015, 03:17 PM   #447 (permalink)
Chief Bottle Washer
Prospect, KY. USA
 
Futures Experience: None
Platform: Sierra Chart
Broker/Data: Infinity
Favorite Futures: /CL
 
WilleeMac's Avatar
 
Posts: 616 since Jan 2012
Thanks: 288 given, 463 received

@FuturesTrader71

Nice AMA today, thank you

Do you have a general idea on the cost of your forthcoming university course ?

Thank you

@Uozob (twitter)

-William

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Old September 4th, 2015, 12:25 PM   #448 (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: 48 given, 746 received


TheTradeSlinger View Post
@FuturesTrader71,

Just wanted to thank you for the #TradeWisdom series of videos.

I'm finding a lot of value in the topics covered in that series and appreciate the "realness" and honesty in them.

Thank you

Glad to hear it! I'm working on a big one that will hopefully be out next Wednesday.

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
     

Old September 4th, 2015, 12:26 PM   #449 (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: 48 given, 746 received


sixsmith07 View Post
@FuturesTrader71 loved that video a couple years back on the micro FX for the CME. I know you have been pushing of the micro ES but do you think the M6E is still something you would recommend to people or is the liquidity totally dead?

As Joshua indicated, the liquidity is not an issue in that product because it is intended for live practice. You wouldn't want to trade more than 3-5 contracts in there and there is plenty of liquidity for that, imo.

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
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Old September 4th, 2015, 12:28 PM   #450 (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: 48 given, 746 received



WilleeMac View Post
@FuturesTrader71

Nice AMA today, thank you

Do you have a general idea on the cost of your forthcoming university course ?

Thank you

@Uozob (twitter)

-William

I don't. It is pretty comprehensive and is intended as a minimum standard of training to trade futures, so it is not meant to be a one-off DVD set or something like that. It is more community based and the pricing is expected to be incremental so folks don't have to commit up front if they don't want to. Does details haven't been worked out. I'm more focused on content right now.

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
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