Still trading QQQ only.

Discussion in 'Trading' started by gary, Mar 4, 2003.

  1. gary


    I have been trading QQQ since it became available. I have dialed in my system to be consistently profitable. I scalp and I like the speed at which I can enter and close positions. Is there anyone else still trading the QQQs exclusively. Or please tell me if you have switched and found something you like better and why. Thanks.
  2. I'm doing Q's and SPY only. SPY has been more predictable lately.
  3. but have been looking to do more QQQ at times
  4. MRWSM


    SMH is nice, a little more volatile and risky.

    Also looks like a new ETF is coming that will track 3500 stocks of the Nasdaq.

    03/03 15:59
    Nasdaq Planning Exchange-Traded Fund Based on Composite Index
    By Aaron Pressman

    New York, March 3 (Bloomberg) -- The Nasdaq Stock Market, the second-largest U.S. stock exchange, will introduce options, futures and an exchange-traded fund based on its composite index, seeking to find new products as trading volume and fee revenue shrink.

    The new products, coming later this year, will add to Nasdaq's existing offerings tied to its Nasdaq 100 Index, which consists of 100 of the largest non-financial companies listed on the exchange, said John Jacobs, executive vice president for financial products. The composite index includes more than 3,500 stocks.

    ``The Nasdaq Composite is one of the most widely followed benchmarks anywhere,'' Jacobs said in an interview. ``We're going to roll out derivatives first, index futures and index options.''

    Jacobs said the products would be backed by a partner he declined to name. He wouldn't say when they will be launched.

    Nasdaq introduced its first exchange-trade fund four years ago based on its 100 Index. Exchange-traded funds buy and sell shares on exchanges throughout the day. Investors can create new shares by exchanging the underlying stocks, or liquidate them by receiving the stocks.

    The Nasdaq fund, known by its ticker symbol ``QQQ,'' has $16.1 billion in shares outstanding. It's the second-largest exchange-traded fund after the $33.8 billion SPDR Trust, which is based on the Standard & Poor's 500 Index.

    New York-based Nasdaq also licensed its index of biotechnology companies for use by Barclays Global Investors, a unit of Barclays Plc, for an exchange-traded fund in 2001.

    Nasdaq stock trading across all venues has fallen to about 1.2 billion shares daily from an average of 1.7 billion last year. Fee revenue from trading and selling market data and services to its listed companies fell 4 percent in the first nine months of 2002 to $616 million. The company will report fourth-quarter and full-year earnings on March 10.
  5. Husky02


    what indicators do you guys generally use...ive been only using macd and sma lately and have been doing pretty well.
  6. gary


    I watch the top six stocks of the Qs along with SPY and DIA. using basic level one for bid/ask and shares available. One min. candle of top ten of Qs along with SPY and DIA. Ten min. candle of the Qs. Thirty min candle of QQQ SPY DIA and MSFT. and finial daily line chart with volume of QQQ SPY and DIA.
  7. Yannis



    I have traded the QQQs and SPYs a lot but then switched to the ES and NQ - similar setups and movement, but smaller capital requirements and much better tax treatment. However, you have to be confident your technique is robust and consistent enough, because there's more risk in the futures. For me it's working well.
  8. Husky02


    ive actually been trading the qqq options, always hedging with an OTM call/put depending which view i have. i usually hold for 2-4 days... any longer and time decay becomes too much of a factor. i found as long as your decently hedged you can make a steady income. the crazy 20-25% swings in a day can make it stressful though.
  9. gary


    Thanks Yannis I would like to talk with you via phone. If you would pm or email me @ your phone # and when to call I would be very grateful.
  10. Yannis,
    Did you have to completely redo your analysis or method when you have switched from QQQ and SPY to NQ and ES ? It looks similar enough but I would like to know practical adjustments which I am sure have to be made.
    #10     Mar 6, 2003