RTY Trading Testbed [Record = 14 for 64 | -3.70pts | -$185.00 per contract]

[BroadwayJoe]

Originally Posted by PaceAdvantage

this isn't options

it's straight up regular trading

i shorted a share (well, in this case, a futures contract, which acts just like a stock)

that's it...we've been thought this before

Nothing special about this. Basically the same exact thing as shorting SPY or any stock or any ETF based on an index

This particular contract moves in .10 increments...and each tick (or dime) is worth $5 in profit or loss per contract.

So if it moves up 1 point (10 ticks per point @ $5 per tick) and you are long, you make $50 per contract
if it moves down 1 point and you are short, you make $50 per contract

There are other unique rules, like day trading margin ($500 per contract) and overnight margin (around $6,000 per contract if I recall for RTY)

But it's basically the same as trading stocks in terms of the mechanics

so the "stop" is like a automatic "big loss" prevention?

[PaceAdvantage]

Originally Posted by BroadwayJoe

so the "stop" is like a automatic "big loss" prevention?

it's the point where i throw in the towel...yes

[BroadwayJoe]

Originally Posted by PaceAdvantage

it's the point where i throw in the towel...yes

[PaceAdvantage]

SHORT RTY @ 1811.10
stop @ 1813.9

[PaceAdvantage]

taking a flyer with a small stop

[PaceAdvantage]

Originally Posted by PaceAdvantage

SHORT RTY @ 1811.10
stop @ 1813.9

Stopped out for a loss

Short Covered @ 1815.10 (they really fucked me with the slippage)
P/L = -4.00pts

Record = 4 for 7 | +56.80pts | +$2,840 per contract

[BroadwayJoe]

Why Russell when you were mostly on S&P?

[PaceAdvantage]

Originally Posted by BroadwayJoe

Why Russell when you were mostly on S&P?

Because I can't be short and long the S&P at the same time in the same account...lol

This is a separate method from my S&P method and I needed another instrument, or sandbox, to play in, independent of S&P automated method.

[BroadwayJoe]

Originally Posted by PaceAdvantage

Because I can't be short and long the S&P at the same time in the same account...lol

This is a separate method from my S&P method and I needed another instrument, or sandbox, to play in, independent of S&P automated method.

Thank you

[Rex Phinney]

I still think in general this should be a money making trade for you, right now is just a bear market rally buzzsaw. It doesn’t make any sense

[BroadwayJoe]

Originally Posted by Rex Phinney

I still think in general this should be a money making trade for you, right now is just a bear market rally buzzsaw. It doesn’t make any sense

thank God Apple helped....

[PaceAdvantage]

Originally Posted by Rex Phinney

Tomorrow the 26th is going to be ugly.

Friday the 28th (after Apple Earnings) will be worse.

New low will be in by end of Day Friday. Hold on to your dicks boys.

This is why I trade.

Just go with what you see. Go with the charts. Go with price.

Forget earnings. Forget Fed. Forget it all.

Just go with the chart.

Who expected this kind of strength today? Not me. Certainly not you.

But I don't trade off of that...thankfully.

[Rex Phinney]

Originally Posted by PaceAdvantage

This is why I trade.

Just go with what you see. Go with the charts. Go with price.

Forget earnings. Forget Fed. Forget it all.

Just go with the chart.

Who expected this kind of strength today? Not me. Certainly not you.

But I don't trade off of that...thankfully.

I certainly missed this one. Luckily I only deal in long term, so all I really dis was sell some stuff Ive been wanting out of. I have been hoarding cash the last couple weeks expecting things to drop. I guess I keep waiting

[PaceAdvantage]

Here's me predicting again (I think I was wrong in the last prediction I posted here)...good thing I don't actually trade on predictions...but...they kind of go hand in hand...

Confusing, I know.

Waiting for a turndown, which we are currently seeing since the opening of futures a few hours ago. S&P futures are down 12-15 points from Friday's 4pm regular close.

If all goes as I see it right now, I think there will be a buy in play tomorrow morning, and if I'm right, it's going to be maybe even a bigger move up then we saw on Friday...this should be THE move in this move....so to speak...if I'm right.

And if I'm wrong, we'll I'll just get stopped out...lol

stay tuned?

[PaceAdvantage]

As I headed off to bed last night, I didn't think this setup was going to happen...it was looking like my method was not going to go long...and my prediction would be cancelled...but it looks like it's actually happening...should happen soon