Daytrading the Russell ER2

Discussion in 'Index Futures' started by Load_the_boat, Feb 18, 2005.

  1. I am working on getting ready to daytrade the ER2. I have been working on my methodology and will get on Xtrader Simulator before I go live. The volatility of ER2 attracted me and I'm looking to risk 1/2 point to a full point based on technical criteria for 2 points and more. My trading size to start will be 2 contracts.

    For those of you that have been daytrading the ER2 for at least a few months can you tell me what your slippage has been on your losers if you use a Stop Market order? Or maybe you prefer not to use stops at all?

    Out of curiousity also I would also be interested in knowing the number of trades you do on an average day (Buy 10 ER, Sell 10 ER = 1 trade). What is the lowest # ticks you risk? Just wondering how scalper friendly this market is. Thanks.
  2. FredBloggs

    FredBloggs Guest

    you call 1 pt scalping!! yikes.

    volumes have shot through the roof since the start of this year, and i have had less slippage. when i have had slippage, it mostly depends on size of order (ok fractured fills would be better description).

    never has it been more than 1 tick though.
  3. very scalper friendly....50-100+ turns per contract per day usualy....try to risk no more than 3 ticks....sometimes get swept for more....most loosers 1-2 ticks...most days less than 100 RT/contract...but almost always over stops....
  4. Volatility is a two-way street. If you are an experienced trader I would say have at it. If you dont have a lot of experience I would look for another market. Most prop houses start their new traders on very slow moving stocks for a reason.
  5. Easyrider,

    I usually trade pairs but have just been given a 1 lot limit on the Schatz to play around with.

    Could you tell me what sort of stuff prop houses teach junior scalpers? Do they just base their trades on technicals and watching the order book?

    Any tips would be most appreciated.


    Very New Boy.

  6. TGM


    since you are a pure scalper--what is your average profit per trade 3 ticks, 4ticks?
  7. Koros


    Er2 tick = 0.10$ right ?
  8. omniscient

    omniscient Guest

  9. I trades ER2 and others...I adjusted my strategies to sell the bid and buy the ask
  10. sides7


    what would a fair price be for one contract er2 with a clearing house. it came through on my statement at roughly $2.85 a contract. i feel this is a little expensive making it difficult to make money if your in an out all the time.

    er2=2.85 for 10 a tic
    dax= 1.68 for 12.50 eu a tic

    obviously the dax has a more attractive ratio at my clearing group, just wondering what others are paying for an er2.
    #10     Feb 21, 2005