exce26, which chart is the best for QQQ? 1min,3min, 5min, 10min, 15min, 30min Be careful, as most of your questions on Elite are along the lines of what is the best... as if there's a Holy Grail best market to trade, best website, best strategy, best setup, best stop, best chart to use, best, best, best... Anyway, without being flippant Nicodemus accurately answered your question, "All of the above..." Take it to heart as it's as good an answer as you'll ever find. And I know it wasn't the answer you were looking for.
Everyone knows ECN is fastest excution tool. However, I tested the QQQ execution speed on NYSE & AMEX AMEX took 30 sec for cancellation confirmation NYSE took 5 sec for cancellation confirmation I used direct access tool from a professional firm. Both of 'em excuted order for island bid & ask price most of time. I do not see any advantage compare to ECN. If you are lucky you might get a ISLAND bid price to buy....some times.
As far as I know, I use a proprietary software and ISLD executions are definitley the fastest and most reliable. Forgot the level II screen, the isld bids and asks are always a bit out of the inside mkt prices. I tried to scalp the qqq's and haven't been very successful. The only time I trade the qqq's now are for shorting any kneejerk reations due to newsevents.... either a new Anthrax case, or another attack on the US, rate cuts, exconomic #'s...etc. etc. I know I can get a short off the qqq's a lot faster and with more shares than trying to short any nasdaq stock. I am lock and loaded on the qqq's if Bin Laden gets captured during mkt hours, I will take as much as I can long. just my 2 cents, Murphy
The best think to do is focus. Focus on one strategy wait for a set-up that really jumps out at you and play it like you are a machine, get those share's gogogogo get them, ill sell you 2000. Sorry got a bit carried away there
I wonder if you are successful QQQ trader, what kind of set up chart, indicators, value you are using.
I already told you all that I'm the best so stop asking whats the best this or that, I already told ya. Anyway, I was reading this thread and one of the questions I've seen is why would you trade the QQQ? I ask myself the same thing. If you are going to restrict yourself to one or two intruments and make them the index, then why not just open an account and trade the futures. You enjoy the margin benefits, a lower cost of transaction and a very liquid market. As for the best time frames and systems...the best timeframe is which ever you are most comfortable with, the best sytem is always the one that works for you. The one that works for you might not be the one that works for anyone else..so, IMHO, its kind of a worthless question.
You guys are speaking from the point of view of money. The reason we trade the qqq is because for a beginner to trade 800 shares at a time (the equivalent shares of qqq to nq) is suicide.
This range bound market market must really be wearing on people..all this talk of suicide. First Hitman talking about bigger time frames being suicide, now you about the futures. Some-one call the Judge and lock these sad saps up