Probability with Martingales:
For the 'only if' part
how to prove the hint? i'm guessing it's something to do with
$$E[X 1_F] \le E[X1_{\Omega}]$$
$$= E[X 1_{|X| > K}] + E[X 1_{|X| \le K}]$$
$$ \le E[X 1_{|X| > K}] + K E[1_{|X| \le K}]$$
$$\le E[X 1_{|X| > K}] + K P(|X| \le K)$$

But with you attempt, you do not reach the conclusion. Let $K>0$, then we have \begin{equation} E[|X|1_{F}] = E[|X|1_F1_{|X|>K}+|X|1_F1_{|X|\le K}]\le E[|X|1_{|X|>K}]+E[K1_F]= E[|X|1_{|X|>K}]+KP(F). \end{equation}