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

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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?

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Thank you FT for all that you give and teach to those of us who aspire to be good at trade facilitation and give back along the way. I am so grateful and appreciative for our paths crossing.
I have been following you for 5 months and using IRT for about 3 month. I like the way you annotate and markup your charts. These tools don't seem to be native to IRT.

Would you tell me which drawing/annotation tools you use to mark up the charts that you publish?

Thanks...Rhonda

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Reminder, event tomorrow, be on time and bring questions. We will try to keep the pace quick so as soon as you join the room you can start asking questions in the question box.

Tip

There will be a Live AMA session on Tuesday, March 19th @ 12:00 PM ET.

- Quick and casual, 30 minute cap
- No prepared presentation
- Live screen sharing
- Floor will be opened immediately to questions
- Recording uploaded to AMA thread afterwards
- Attend live to get your questions answered

The link for the event is:
https://www3.gotomeeting.com/register/776327726

Mike

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rjnebay

Thank you FT for all that you give and teach to those of us who aspire to be good at trade facilitation and give back along the way. I am so grateful and appreciative for our paths crossing.
I have been following you for 5 months and using IRT for about 3 month. I like the way you annotate and markup your charts. These tools don't seem to be native to IRT.

Would you tell me which drawing/annotation tools you use to mark up the charts that you publish?

Thanks...Rhonda

Rhonda, just to give you a head start, check out linnsoft.com and you will find the "FT71 quick start guide" -- templates and chart definitions and other helpful tools there.

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josh

Rhonda, just to give you a head start, check out linnsoft.com and you will find the "FT71 quick start guide" -- templates and chart definitions and other helpful tools there.

Thanks. I already have all of that, all of the chart definitions, settings, and indicators. I am quite proficient with the use and interpretation of IRT data and charts. I have found no drawing/annotation tools as part of IRT. I have searched linnsoft and MarketDelta's sites pretty thoroughly prior to asking the question.

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Big Mike

@FuturesTrader71,

Is the "S5 Trade Analyzer" available for sim/paper accounts?

Mike

Thanks for asking, Mike.

Yes, the S5 Trade Analyzer seen on Attitude Trader's thread as well as others in the forum is available for demo accounts. Traders who are a part of our brokerage have an indefinite sim account with an open and funded account. The S5 Trade Analyzer is what I used to use to train traders and work out their kinks. The software is in its infancy. We will soon be releasing a historical analyzer on our website for our traders. We will all be able to see our entire track record with some detailed metrics.

The tool helps me see what possible sources of issues a trader has based on the trade they have taken. The stats are as meaningful or as meaningless as the trades that were put on. There is a specific way to use a sim account. If used correctly, this data is a great confidence builder and an objective view of what is happening, in my opinion.

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veggen

Hey FT71!
Thank you for sharing so much of your time and helping out as much as you do without asking anything in return. So much appriciated and a true inspiration.

I have a question regarding composites and micro composites I was hoping you would adresse. As we now in the ES recently broke out to the upside from a micro composite (from the 21. of february to the 4th of mars). If we were to re-visit this price area in the near future again, which of the HVN and LVN would you pay the most attention to? Would it be the micro composites value nodes because these are the most recent prices and therefore has the most influence in the future, or the bigger composites value nodes because they reflect more days and therefore more information? Or do you compare the value nodes from both the micro composite and the overall composite and pay attention to the nodes that are pointed out in both of them and therefore match?

Hope my question was understandable as english is not my first language and hoping you have the time to shred some light on this.

Thanks again FT71!

Cheers,

Vegard

Yes, it did break out of the balance zone except that I have it starting way back from Jan 17.

So your question is best answered with an image:

To answer the rest of your questions, you would have to answer the questions:

What has the market done?
What is it trying to do?
How good of a job?
And those lead to the answer for: What is more likely to happen next?

Remember, we are trading probabilities only. Nothing is certain in the markets.

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garyboy275

Hi Mike
As far as I know it is available for demo accounts-I think you get a 2 week demo and you can use both trader platform and trade analyser during that time

That is correct. Thanks for answering that. You get 14 days for a demo.

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Big Mike

I'm more interested in if it is available in paper/sim mode for funded accounts on a permanent basis, or if it only works for cash trades.

Mike

Yes it is. As long as your account is funded, it is permanent.

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Big Mike

@FuturesTrader71, I know your new venture with Stage 5 Trading means you've not yet got a fully working website. So I had a few questions about the brokerage.

a) Assuming you are a GIB or IIB? If yes, which FCM are you clearing through?
b) What technology is supported? TT FIX, Rithmic, Zen Fire, etc?
c) What platforms are supported for trading? Sierra Chart, NinjaTrader? I realize you can use whatever you wish for charting.
d) Client portal functionality/features?

Thanks FT.

I'll also use this post to mention the recording for today's webinar has been posted in the webinar section.

Mike

a) Stage 5 Trading is an IIB. This means that we are completely independent from any particular vendor, clearing firm or platform. We clear OEC, Dorman, Vision and RJO. We are also able to sign with any FCM that we feel would serve our traders best.

b) Our preference is S5 Trader which is a labeled OEC platform. It is efficient, stable, free, has free real time data and many features and provides me with the best way to monitor traders on the risk system and intervene to help them out when they need help with trading. The folks at OEC even upgraded it once I started using it so that it is more in line what I felt I needed as a trader.

c) We provide most non-proprietary trading platforms on the market. So we clear Ninja on Zenfire, Ninja on Rithmic, Ninja on TT-FIX (not a great solution), Trade Navigator, Multi Charts, CTS T4, Market Delta Trader, TT-FIX direct, CQG Trader or Integrated Client, etc, etc. You can also feed your Investor/RT, Sierra, Market Delta Charts and many other platforms with the S5 Trader for the free real time feed and then use DTNMA for historical data. There are too many options and solutions to name. Simply put, technology is not something that would prevent anyone from joining our structured trading group.

d) Traders can manage their S5 Trader account through an online client portal. Other platforms have various solutions depending on the vendor. All clients get access to the S5 Chat Room where only serious and trading-related discussion takes place throughout the day. The chat room is also a place for me to intervene (on a best-effort basis) when I see that a trader has lost site of risk. Otherwise, I call to make sure that they are aware of their position and are thinking clearly.

I hope that answers your questions.