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Strategies & Market Trends : trading the QQQ

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To: bernard rogers who wrote (511)	5/27/2002 10:40:40 PM
From: At_The_Ask	Read Replies (1) of 714

Hi Bernard, NQ's can be very tough to get a handle on as they are so whippy they invite one to just jump in. I have traded only on a simulator so far with mixed results. I hope to begin with the real deal soon, but I am a little concerned with "death spikes" and brokerage or internet outages wiping me out. I may or may not follow through with it. One thing you might consider looking into is elliot wave theory. It seems that the indexes tend to follow elliot waves and channels pretty closely. They scale from huge intervals down to even 1 minute timeframes. I have found that trading only with trend of the larger timeframes is the key though. Trading the bounces long in a falling market can be most painful. I'm not sure what your TA background is but here are some resources that I've profited from: This guy has pretty good analysis that is updated almost daily. stockcharts.com Someone usually posts the E-wave charts of Onishka daily at the CFZEW, he is a german chartist who is very good, especially for free. A lot of good calls are made by regular posters there also, but not many short term ones anymore since AlansAlias stopped trading futures. The focus has shifted to more macro calls. siliconinvestor.com One of Onishkas charts, 216.239.37.120 They are usually in German but this one has been translated. If you understand wave counting you don't really need the text anyway. Also Susan G and others at the trend setters thread trade the NQ's and post very good comments during the trading day. Susan also does exhaustive charts that she posts almost every night that are good to look over. For example: mywebpages.comcast.net This sight also has very good articles for daytraders. hardrightedge.com The articles "selling declines" and five wave declines I highly recommend. Good Luck ATA

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