Since Sept, QQQ went up straight, Now, it is showing double top on daily chart. Some analyst says, QQQ may need to retest Sept. low before going higher Agree? What 's your opinion?
I gave up trying to outguess the market. For a long time I studied past behaviour and tried to find repeating patterns such as what happens after a gap up, down, etc. and almost always, over a long period of time, it came down to a 50/50 proposition so I would say the odds of it going down are 50/50.
But you have a special price, $2 is not industry norm, I am referring to real true rates through a firm that charges $10-15 per side, You cannot compare your $2 rate & your trading only 100 shares, that is $3500 +- maybe in position. I cannot compare 100 QQQ to an emini at all. SP
Sharptrader, Almost anyone who can open an account anywhere can open one at IB. Any newbie is foolish to pay $15 - $30 RT while trying to learn trading. I know, I did it and damaged my account pretty good. Trade 100 shares and pay $2 RT and you can trade most stocks to your hearts content and not do TOO much damage. It is so much easier to learn trading when we newbies are not concerned with execution costs. Now if we can just get rid of the PDT crap. I have funded my account to $26,000, but I don't trade like I have $26,000, I trade like I have $5000. Just a few thoughts.
So far, I do not see any real solid strategy in this colum. I am working on real good signal for first hour trading. This signal is only for QQQ So far, it works great on paper. After trading real, I will update more detail.
I've got a foolproof rule for the first hour: don't trade it. My record on amateur hour trades in QQQ is very poor. Better to wait until the big boys are finished dicking with it and let a trend form.
I've got a trading system for the QQQ which returned over 800% last year. It's not a day trading system, it's a short term system with most trades lasting 1-4 days.
big, I dont suppose you would like to share it with the board would you??? PEACE and good trading, Commisso
Someone mentioned that for traders doing the qqq e mini arb that it is 1 contract of future vs. 800-850 shares of qqq. Can someone please explain the math/logic behind that? Thanks in advance