Does QQQ follow a distinct trading pattern?

Discussion in 'ETFs' started by shotse, Apr 25, 2011.

Does QQQ follow a distinct trading pattern?

  1. Yes

    9 vote(s)
    81.8%
  2. No

    2 vote(s)
    18.2%
  1. shotse

    shotse

    Those bears came right out of hibernation when they saw SLV make 7 or 8 higher lows in a row!!

    I really like the parabolic SAR indicator, thank you for that recommendation.

    Is there an indicator for QQQ that works the best or works most of the time for QQQ?
     
    #21     Apr 26, 2011
  2. There is nothing wrong with data mining. Your brain is using it real-time and without it it cannot function. You probably confuse data mining with results of it that use low relevance premises, like in your example. The OP did not refer to such non-relevance.

    I have seen many in these boards confusing data mining with biased data mining results and demonizing data mining, while at the same time creating confusion to people who are not familiar with this most effective and powerful method for analyzing market action.
     
    #22     Apr 27, 2011
  3. shotse

    shotse

    What will change?
     
    #23     Apr 27, 2011
  4. shotse

    shotse

    Define patterns.
     
    #24     Apr 27, 2011
  5. shotse

    shotse

    Initial Balance Trading For QQQ
    Adam Shalit
    Adam.Shalit@gmail.com



    "70% of the time, the high or low of the trading day is made from 9:30-10:30am"

    So how can we exploit this? First, we will need to make a plan. Once the plan is made I will need to test the plan out in a paper trading account to see if initial balance trading for QQQ is profitable.


    Trading Plan

    Buy QQQ if three or more of the following is happening in the 5 day chart:
    Cover QQQ if three or more of the following is happening in the 5 day chart:

    1. Upward Trend in Price
    2. Upward Trend in Volume
    3. Upward Crossover in MACD
    4. Dramatic Decrease in MACD
    5. Downtrend in MACD Histogram
    6. Parabolic SAR Following Below

    Short QQQ if three or more of the following is happening in the 5 day chart:
    Sell QQQ if three or more of the following is happening in the 5 day chart:

    1. Downward Trend in Price
    2. Downward Trend in Volume
    3. Downward Crossover in MACD
    4. Dramatic Increase in MACD
    5. Uptrend in MACD Histogram
    6. Parabolic SAR Following on Top


    Sell QQQ when you have made $1.00 profit on each share.
    Stop Loss for QQQ is half of the anticipated profit on each share minus $0.10.

    Cover QQQ when you have made $1.00 profit on each share.
    Stop Loss for QQQ is half the anticipated profit on each share minus $0.10.


    Stop Loss = $0.40
    Profit Target = $1.00

    Monday is a no trading day, only viewing and research on Monday's.
    Hold no positions during the weekend.


    Testing Phase

    1. Trade in a paper trading account using this trading plan.
    2. Open up a blog to post your results and your commentary each trading day.
    3. Make your buy/short and sell/cover plan the night before the trading session.
     
    #25     Apr 27, 2011
  6. ==================
    Sharp shooter;
    I look @ lots of things especially trend study[my favorite].

    12 is a good number & QQQ hit high $120 are;a low of less than 24or $20];
    like to work 12 hours a day/trends:cool:

    Most traders dont look @ it this way, but URE,QQQ both seem high priced , so recently sold URE@61.2*[closed a long,from DEC 2009 early... entry,LOL }usually dont wait that LONG.] I can buy yesterday/anyway an OZ of silver for less than $61.2*:D

    3 or 5or 7 is a good number also with QQQ;
    3 Top trader books by Jack Schwager is real helpful patterns - no matter the time frame.Proverbs & that book Trading with The Best[forgot the author] but Mr. Morales, Dr Christian Karcher, IBD ,200dma..................................................................................................................................................................in that book.
     
    #26     Apr 29, 2011
  7. shotse

    shotse

    thank you
     
    #27     Apr 29, 2011
  8. here is a swing trading idea for the QQQ using weekly options;


    QQQ trade with weekly options.

    Here is a trade idea that I that got from either ET or Y!, can't remember.
    The strangle part came from an idea in a Bernie promo.


    Buy calls after several down days that are opposite to trend.

    Buy puts after several up days that are opposite to trend.

    Trend based on 1 week chart.

    Trade weekly options with strke ATM, or 1 strike OTM.

    Open trade on thu, fri, mon, or tue.

    Close trade after several days.

    Cost of option should be about $0.33 to $0.50

    Trade could also be placed as a strangle.

    Buy option in direction of expected move.

    Buy as a hedge, cheaper option in opposite direction.
     
    #28     Apr 29, 2011
  9. The Open is within 30% of the days range from Low 31% of the time and within 30% of the days range of the high 34% of the time.

    If the QQQQs open the Top 1/3 rd of the previous days range it has a 77% chance of making a new high. The question is what percent close above the high?

    If the QQQQs open in the Lower 1/3 of the previous days range it has a 79% chance of making a new low.
     
    #29     Apr 29, 2011
  10. shotse

    shotse

    Is there research backing this? Thank you for the post as of the moment right now I am trying to construct a trading strategy for the QQQ ETF. Hopefully with everyones knowledge combined on here we as a team can make a great one. Thanks for that info.
     
    #30     Apr 30, 2011