QQQ 1. What is the average profit range on QQQ for day trader? (not holding overnight) 2. How to you determine the break point? 3. In addition, if you wanna add any comment on QQQ, please do so...
If you want to trade the QQQ exclusively, consider the NQ (emini Naz-100 future). Make (or lose) more money with less starting capital, and also no need for SEC $25k day trade.
exce26, What is the average profit range on QQQ for day trader? Not exactly sure what you mean, but the average daily range for the Q's is just over 1.5 pts. That should give you an idea of the range you're working with, and if you can capture half of that (on any one play) you are doing very, very good. Most people who trade the Q's make smaller surgical strikes, trying to grab .20 - .40 at a shot. Some people who play huge size go for even less than that.
There's a great article in Active Trader Oct. issue called "Know Thy Market." Using QQQ as an example they explore its historic price behaviour. As Magna points out the only way to trade them, imo, is to trade large size for small moves. This is assuming you dont want to hold overnite.
exce26 I did some backchecking and my average win this month has been .37, average loss .13. Largest winner was .85, largest loser was .27. Might give you some idea what to expect.