The Surf Report

Discussion in 'Journals' started by marketsurfer, Apr 25, 2002.

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  1. due to several requests, i will post my daily nasdaq channel levels in this forum and our nasdaq index strategy for the day.
    our current channel on the nasdaq composite is 1698 to 1757. we will enter shorts once 1698 is broken on the downside, go long above 1757 and stay flat in the channel. our system considers the upper or lower channel figures violated if the price move thru the figure by a FULL three minute candle. we are trading the nasdaq futures , qqq options, and the qqq based on this system. the system is currently FLAT.

    all the best,

  2. I like the sign off "German engineering with Eastern thought".... sounds like a combination of a BMW and a Toyota...
  3. our nasdaq index system went short when 1698 was violated in the composite. currently holding shorts over the weekend. mental stops are at 1703.

    enjoy !
    surf :cool:
  4. why do you use COMP numbers not NDX or NQ? Often NDX will violate a support but not COMP (and vice versa) .
  5. i use the composite since it is a broader view of the nasdaq, yes, the NDX and COMPX diverge at times, but will come back into alignment. these are position trades and not day trades i am placing. hope this makes sense.

  6. toby400


    Great thread since, living in the UK, I am keen to learn how US traders use QQQ options.

    Keep up the good work.
  7. :)
  8. hi trader kay,

    thanks for the reply. all i do on the chart is draw a horizontal line across the chart at the channel figures. when the line is fully violated by a three minute candle , i execute the position. by the way, the channel is not based on traditional TA

    hope this helps,

  9. hey candle,

    yeah, thanks for the reply. german engineering with eastern thought is me. at least, when it comes to trading.

  10. goodmorning,

    we are currently short the nasdaq index entering the open. the stops are at the equivalent of 1703 in the index. when 1703 is broken (if) , we go flat and wait for violation of the 1698 to 1757 channel to enter again.

    inspired speculation,

    #10     Apr 29, 2002
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