Russell 2000

This is a discussion on Russell 2000 within the Trading Journals forums, part of the Reception category; Hello Russell traders, I am planning to keep a thread of Russell trades to keep me honest, as I am ...

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Old Feb 8, 2011, 3:59pm   #1
Joined Sep 2008
Russell 2000

Hello Russell traders,

I am planning to keep a thread of Russell trades to keep me honest, as I am just going from sim trading to live trading now.

In sim I make a killing, in live I find it difficult to take a trade. This forum should help keep me accountable.

Anybody who is also a Russell trader please contribute to this thread as I have searched this forum for dedicated Russell traders and I haven't as yet found any. We are a rare species, and I would enjoy the company.

About my trading. I am a day trader. I look for scalp trades of 5 ticks to anywhere up to a point of profit in any one trade. I have a target of 10 ticks or 1 point a day. I use tick charts in a 89T and a 233T as primary charts with a larger scale 610T chart on the side.

As trades are taken or targets reached they'll get posted. Losses included.

As I have already mentioned, I would like to hear of other Russell traders progress.


Regards,
Nautical23
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Old Feb 8, 2011, 6:09pm   #2
 
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Re: Russell 2000

I trade credit spreads on the RUT and form Iron Condors when feasible. I suck at guessing direction.
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Old Feb 8, 2011, 11:03pm   #3
Joined Sep 2008
Re: Russell 2000

Nautical23 started this thread Interesting,

I'll be honest I'm not sure what I'm looking at. I haven't been educated in credit spread options before. Nor have I seen a dashboard before. I just trade basic buy and sell ER2 futures trading. And I don't have a mentor or educator to pass on any of this kind of information.

I've just spent the past 5 nearly 6 years staring at these charts until I've worked something out. I did pay an extortionate amount of money for a course many years ago that set me up with an understanding of what futures trading is. They had a live trading room that seemed to continually lose money, and mine. Thats about where it stopped for me before I gave them the flick.

Thanks for the insite to another traders workings.

Regards,
Nautical23
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Old Feb 10, 2011, 3:54pm   #4
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Re: Russell 2000

Nautical23 started this thread So here I am again. Slept in and missed an important part of the market that I predominantly trade, the first hour. Great start to the journal.

As soon as I opened my charts, a trade had appeared, I was slow to respond, no actually, I just sat here and watched it, some what pi#!$%ed at sleeping in on an important trading night as I don't have many in a month due to full time work.

Anyway, moving on. Lets see if I post a trade by nights end.


Regards,
Nautical23
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Old Feb 11, 2011, 4:29pm   #5
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Re: Russell 2000

Nautical23 started this thread Well, clearly last night, fear got the better of me. Sleeping in didn't help my cause either.

Tonight I was on time. However, I've seen many a trades go by as I sit and doubt that they will work. Had I of taken the first trade, I'd v been up 12% straight off the bat. Had I've missed that one, a couple more trades came by as I doubted them too. I don't think I've seen a pontential trade stop out on me yet.

So whats my problem?


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Old Feb 11, 2011, 4:43pm   #6
 
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Re: Russell 2000

Some food for thought. I currently have 6 RUT credit spreads open organized as 3 Iron Condors. Each of them have the CALL side with a small paper loss. The good news is that the Iron Condor shows great returns as the PUT sides provided high returns.

I enter a new series around the 60 days to expiration mark. If the market moves slowly, but continuously then one set of credit spreads will reach near its maximum productivity. It can be closed and a new spread opened, collecting another credit on the same quarantined funds. So the three Iron Condors now show a profit of 21.1%, 9.9% and 3.7%. The first two expire next week.

And I can sleep late without missing much. No worries here.
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Old Feb 11, 2011, 5:38pm   #7
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Re: Russell 2000

Nautical23 started this thread That does look very interesting. I've googled the Iron Condor too see what it's about. Consistantly reliable profits is what I seem to gather from it.

I do miss sleep. Its punishing these early stages of trading. I know I have a profitable strategy, the problem with it is me. If I just traded it I would be able to give up my day job and sleep in. No worries.

My trading system is a very simple system. I just buy or sell off MA's for small amounts of profit with equally small or smaller stops. I don't take all of them, there has to me some merit to the potential trade via the help of a leader market (S&P500) and a few other studies that I have on my charts, but over all I don't think I have seen I night go by that would not see me net a min of 5% with most getting my target of 10 to 15% p/night.




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