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

  #461 (permalink)
Elite Member
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Hi FT,

I dont understand why enter 1 contract for position sizing in the presentation. I would love to see how you manage risk with more than 1 contract.

You done your homework. It be fantastic to see where you scale in and scale out.

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  #462 (permalink)
 Vendor: www.futurestrader71.com 
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Convergence Event-Reading Order Flow and Stalking Trades Part 2 - Dec 3rd

Hey Traders,

I want to keep you posted on a couple of public videos that were done last week. The first is Part 2 of of the "Reading Order Flow and Stalking Trades" event. The intent of this session was to actually set up, stalk, take and manage a live trade or 2. It turned out to be a trend day and there was too much going on, so I intend to do another one. You might still find this useful still as I cover my entire approach to stalking a trade.

Here it is:


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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  #463 (permalink)
 Vendor: www.futurestrader71.com 
Chicago, IL, USA
 
Futures Experience: Advanced
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Trader Intervention for TopstepTrader on Viraj84


This recording is from December 4th. It is a trader intervention. The purpose of this is to go over a trader's performance and ultimately provide at least 3 imperatives that the trader must focus on going forward in order to see improvement.

I got strong feedback on this video. It looks strictly at performance metrics from our Trade Analyzer (legacy product shown; a new HTML5 version will be released in Q2 2016).

Here are Viraj's 3 imperatives for next time:
  1. Donít trade until 10:30 or so on Wednesdays
  2. Adjust your R:R so that it is more realistic until you are able to trade more than 1 contract. Then you can keep the 1st lot at the normal R:R and the 2nd lot discretionary or extend it to less than 40 ticks
  3. Keep your trade management scheme fixed. Put the trade on and watch the charts instead of the DOM. You are taking on the risk of putting on a trade but then miss out on the reward by scratching it. Chances are, your trades donít fail as much as you think

Have a look at the video and let's have a discussion about it:

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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The following 6 users say Thank You to FuturesTrader71 for this post:
 
  #464 (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: 233 since Feb 2012
Thanks: 56 given, 754 received


torroray View Post
Hi FT,

I dont understand why enter 1 contract for position sizing in the presentation. I would love to see how you manage risk with more than 1 contract.

You done your homework. It be fantastic to see where you scale in and scale out.

Hi Torroray,

The reason I cut the size down to a 1 lot or do live trades on a $5k or 10k account is because I have to hold myself to the issues and approach that I would suggest for those listening. It is a bit like those health magazines where you see a guy who is totally ripped showing you how to do a squat, but he is using 50 lbs because that is what is relevant to the reader when he can squat 500 lbs. I'm not saying I'm much better, but it is not as relevant (based on feedback I got) to swing 20, 30, 40 lots when few can do so.

I hope that makes sense.

PS: 1 lots are much tougher to manage than a 40-lot.

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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The following user says Thank You to FuturesTrader71 for this post:
 
  #465 (permalink)
Elite Member
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Posts: 273 since Nov 2009
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FuturesTrader71 View Post
Hi Torroray,

The reason I cut the size down to a 1 lot or do live trades on a $5k or 10k account is because I have to hold myself to the issues and approach that I would suggest for those listening. It is a bit like those health magazines where you see a guy who is totally ripped showing you how to do a squat, but he is using 50 lbs because that is what is relevant to the reader when he can squat 500 lbs. I'm not saying I'm much better, but it is not as relevant (based on feedback I got) to swing 20, 30, 40 lots when few can do so.

I hope that makes sense.

PS: 1 lots are much tougher to manage than a 40-lot.

Hi FT,

I am sorry but I heard you mentioned many times in your webinar that its hard trading with 1 lot and you mentioned this recently in Trader Intervention you with TopStep Trader. For beginner with $5K account can choose different instrument other than ES with smaller tick size for managing risk.

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  #466 (permalink)
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Jakarta, Indonesia
 
Futures Experience: Beginner
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Broker/Data: S5 OEC, FXCM
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Posts: 177 since Mar 2013
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FuturesTrader71 View Post
  1. Donít trade until 10:30 or so on Wednesdays
  2. Adjust your R:R so that it is more realistic until you are able to trade more than 1 contract. Then you can keep the 1st lot at the normal R:R and the 2nd lot discretionary or extend it to less than 40 ticks
  3. Keep your trade management scheme fixed. Put the trade on and watch the charts instead of the DOM. You are taking on the risk of putting on a trade but then miss out on the reward by scratching it. Chances are, your trades donít fail as much as you think

Thanks FT. How do we create a fixed trade management scheme for each markets? I'm guessing trading a 2-lot and 3-lot will have different schemes. Some example would be helpful.

Cheers

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  #467 (permalink)
Elite Member
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Futures Experience: Beginner
Platform: Multichart DT
Broker/Data: MB Trading
Favorite Futures: Fx
 
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Posts: 273 since Nov 2009
Thanks: 52 given, 58 received


tradernikki View Post
Thanks FT. How do we create a fixed trade management scheme for each markets? I'm guessing trading a 2-lot and 3-lot will have different schemes. Some example would be helpful.

Cheers

I am also interested in the outcome for this position sizing strategy

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  #468 (permalink)
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Prospect, KY. USA
 
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@FuturesTrader71

Mr Morad,

Thank you for all you do

Merry Christmas

Peace

-William

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  #469 (permalink)
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New York City, NY USA
 
Futures Experience: Advanced
Platform: NinjaTrader
Favorite Futures: ES, ER
 
Posts: 27 since May 2015
Thanks: 10 given, 28 received

I've been watching all of FT71's webinars this weekend

Excellent information and very well-presented.

the price for an elite membership here at futures.io is a pittance compared to the value that I've gotten here ... the knowledge that I have gained.

My biggest takeaway is that my trading plan is pretty damned good, but I need to work on some other stuff.

Thanks Big Mike & TF71.

Best,
a


Last edited by angela d; January 3rd, 2016 at 12:50 AM.
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  #470 (permalink)
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Thank you Morad for all the educational resources you've provided over the years. I've spent the last few weeks watching your videos from various sites and reading your threads.

Can anyone please tell me what the indicators are in the windows bellow his charts? I think the part of the third indicator window is cumulative delta. The second indicator window shows the rotation size but I'm not sure of the indicator name. I'll be using NinjaTrader, so I'm looking for equivalent indicators as I'm just starting out.

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Last edited by adam777; January 15th, 2016 at 06:01 AM.
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