In this paper, we develop a systematical approach in applying an asymptotic method of moving planes to investigate qualitative properties of positive solutions for fractional parabolic equations. We first obtain a series of needed key ingredients such as narrow region principles, and various asymptotic maximum and strong maximum principles for antisymmetric functions in both bounded and unbounded domains. Then we illustrate how this new method can be employed to obtain asymptotic radial symmetry and monotonicity of positive solutions in a unit ball and on the whole space. Namely, we show that no matter what the initial data are, the solutions will eventually approach to radially symmetric functions.We firmly believe that the ideas and methods introduced here can be conveniently applied to study a variety of nonlocal parabolic problems with more general operators and more general nonlinearities. CONTENTS 1. Introduction 1 1.1. Main results on qualitative properties 3 1.2. Ideas and key ingredients in the proofs 5 2. Proofs of key principles 8 3. Asymptotic symmetry of solutions in B 1 (0) 20 4. Asymptotic symmetry of solutions in R N 23 4.1. Step 1: λ sufficiently negative. 24 4.2. Step 2: Move the plane to the rightmost limiting position. 25 4.3. Step 3: All ω-limit functions are radially symmetric. 27 5. Appendix 37 References 38