Can Tell You The Speed And Direction Of Blood Flow How To Scalp the Russell 2000 E-Mini Futures Effectively and Consistently

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How To Scalp the Russell 2000 E-Mini Futures Effectively and Consistently

At first glance, the Russell 2000 E-mini futures contract is intimidating to the uninitiated trader. If you chose to trade the EC contract, which is by far the most actively traded e-mini offering, the Russell 2000 (called TF) has tremendous price range; this is precisely why you should consider TF as one of the contracts to add to your trading repertoire. This dynamic contract presents the experienced trader and the well-trained novice trader with setup setups on a daily basis. Yet many traders inexplicably focus on high-frequency trading laced with ES (S&P 500 e-mini) as their contract of choice. Although I don’t exclusively trade TF, it is an important part of my daily trading day and is always displayed on one of my monitors. On the other hand, I avoid all HFT consolidation trading movements and arbitrage related trading on EC like the plague.

The Russell 2000 (TF) is based on small-cap stocks and is considered by some to be a leading indicator of stock market movements in general. With that being said, I couldn’t care less. As a TF scalper, I’m interested in the smaller moves that a contract represents and how to effectively exploit those moves. Which is not to say that I don’t enjoy trading larger moves on the Russell e-mini, just that there are enough 20 tick moves to satisfy even the most demanding trader. The movement in the contract is what “puts off” many traders, but this movement is what makes the TF e-mini a real money machine if traded correctly. Don’t be put off by the market noise in this instrument; it can be effectively traded with the right tools.

Most TF trading can be classified into two broad categories; trading in brackets and trending price movements. Either way, TF will provide plenty of opportunities to start winning trades.

What is the secret to trading the Russell 2000 e-mini?

I pay close attention to order flow from line to line in conjunction with the overall market structure determined by the market profile. Order flow is order flow; meaning that when this contract starts to move in the potentially profitable TPOs identified in the daily market structure, you can simply watch the orders pile up, short or long, and stay in the trade until you see a certain area where traders lead the market in your direction loses interest. I should point out that lagging indicators are not particularly effective on TF due to the speed of some price movements. However, using real-time order flow data, you can watch orders pile up on one side of the contract and trade in that direction with relative certainty. As a further aid, I usually keep a consolidated tape reading table to watch the orders as they accumulate at each index price.

I also pay close attention to volume readings at known support and resistance points to give me insight into whether or not a breakout or breakout is imminent. You can do the same with your order flow and see if the delta is increasing or decreasing at known support and resistance. Any quality order flow indicator will show these deltas in real time in a watch table. You may notice that real-time indicators are the name of the game for high percentage trading with this contract.

I also recommend watching the Average True Range (ATR) indicator to determine whether the price movement is within your identified risk profile or not. For my purposes, I use 2x ATR to determine my profit target and stop/loss point; if the 2x ATR exceeds 25 ticks, I simply wait for the price to settle down and continue trading. In my opinion, I am only willing to risk 25 ticks ($250) on any trade on this contract. You should also consider the size of your trading account when trading TF; never risk more than 1-3% of your account value when trading. If my $250 stop loss is more than 3% of your account size, it would be wise to trade the Russell 2000 when the ATR is lower and more appropriate for your risk tolerance and trading account. Money management is important in TF e-mini, as it is in trading in general.

In summary, I would encourage you to take a close look at the Russell 2000 e-mini and use the real-time trading indicators I have identified. I also stated that if you are a lagging indicator trader, this contract will give you a fit; This is how I feel about all e-mini trading. View TF and trade it in real time with one contract, that’s all you really need with this dynamic contract. As always, good luck trading.

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