Behind the Screens Episode 16 - Developing a Trading Plan with FT71
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Dec 10, 2021 Morad Askar, known as FuturesTrader71, is an experienced prop trader and educator in the futures market. He discusses the pivotal role of a trading plan in achieving success, explaining its essential components and the importance of risk management. Morad emphasizes the need for accountability and collaboration with brokers, as well as regular evaluations of trading strategies. He offers insights on scaling trades and measuring progress, stressing that success goes beyond financial metrics to include disciplined execution and continuous improvement.
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Pick Products That Fit Capital
- Choose products that match your capital and hours, like micros for smaller accounts.
- Ask your broker for margin numbers and pick products that allow your risk plan.
How Morad Chose The ES
- Morad moved to the ES after trading riskier products and working in prop firms.
- He emphasizes brokers who trade themselves as valuable for anticipating pain points.
Hours And Timeframe Drive Everything
- Trading hours and timeframe shape opportunity, product choice, and funding needs.
- Different timeframes require different capital, risk profiles, and instruments.