Russell Daytrading

Discussion in 'Journals' started by RussellDaytrade, Apr 27, 2006.

  1. I am going to start making Russell ER2 daytrading calls based on the model I have developed. This contract moves rapidly, so the communications and response time are vital and essential.

    It is anticipated that several buys and sells will occur during the normal trading sessions
  2. This will be a test-drive for my trading model. Anyone wishing to try out the signals, does so at their own risk, (just stating the usual and obvious), and they assume all responsibility for their own actions or inactions, and the risk levels to which they do or don't expose themselves to.

    While the signals will try and catch turns, both up and down, there are plenty of times when 1) the market / price will move adversely to the position, 2) another signal to add/average into the position will trigger, 3) the complection/ strategy of the trade will change from that of profit incentive to damage control/ live to fight another day, another trade.

    With the above in mind, just plain not all trades/signals will work out in the manner in which they were expected to, or, they may take either their sweet time, or take the 'scenic route' in working out. Fun, fun, fun!

    Some shorthand

    B = Buy
    S = Sell
    B/BC = Buy, and or Buy to cover
    S/SS = Sell, and or Sell Short

    W = Waiting for a setup

    for the sake of time, I will be posting as quickly as my little paws will let me, and keeping them as short as possible, example posts

    1) 745, B

    2) 801, S/SS

    if time allows during the trading day, I will include more info, such as price levels, but I will preference staying tuned in to the market, and will presume that others will know the current prices at or near the the times of posting.
  3. S ER2 here at 764-764.5
  4. B/BC @ 763
  5. S/SS @767.5
  6. I was going to call BS on these trades but decided to check first - ET is posting timestamps that are 4 minutes off, so when you made your first trade with a post timestamp of 9:41 EST (and ER2 was below 762) it was really 9:45...big difference on these fast trades.

    Just wanted to share in case anyone else was following your trades...please carry on
  7. so did you stop out of the last short?
  8. Thanks, I didn't notice the time differential, but I am quickly noticing that in the time it takes to write and post, the price has changed, moved away from the posted price, and so far, today, not neccessarily in a favorable way.

    I am trading against the trend, and trying to time turns. Many times the trades will go farther in the direction of the trend, such as this morning. The trade can or will either be a bust, or it can be averaged into, by commiting more to the trade in an effort to 1) get whole/ even, / mitagate, or 2)build a bigger position, (if one has the firepower and inclination to do so), or 3) a Hail Mary.

    It is a challenge trading against the trend, and some days are easier than others, (some days chicken, some days feathers).

    B/BC here @ 767.5
  9. Just lost interest in this thread.
  10. In addition to the last post, if you follow my calls, you will note that in many and possibly most instances, I have a tendency to be early. This takes several forms. I may be early to buy, and the position goes into drawdown. This makes me a little anxious, so then in turn, I usually will sell out a trade early, in many instances, when and if it returns to positive. The same thing occurs in inverse, as we can see from this mornings trades, (the sell/short call at 767.5 was too early, so I closed it at the first drop/ oppportunity, even if it may drop further. Also, since it moved so far away from the entry, 767.5 to 771.9, it seemed like the likely magnitude of the giveback from 771.9 to 767.5 was about far enough, for the time being.

    Also, there is a challenge in staying attentive and posting, particularly with this contract, as it moves rapidly. That's all part of trying this out, seeing how it works, not just the calls, but the timing of the delivery, and also whether it distracts me. Perhaps a voice-activated dictation/posting system would speed up the reaction time.

    Based on what I've read so far in and around the site, it may only be a matter of time before someone calls BS, so that may be expected. I am interested in any constructive suggestions you may have to offer.
    #10     Apr 28, 2006