uppernet

fundamentals and technicals are both important in the trading world ..... to invest , or to trade actively is an individual's choice ...... most important is to do your homework and execute your plan well ......

my question to those who dont believe in technical analysis ........ how do you manuever your losing positions when that happens ? holding on until it goes back to green territory someday ? ..... what if you bought 1000 shares of a fundamentally sound excellent company at $30/share and for whatever reason the price keep falling contrary to your expectation, what will you do ? ...........

To survive in the market, there is always a need to have a damage control plan ........ the 1/1000000 possibility can wipe out your 999999 times gains ........... just like the tsunami .........

by the way ... most indicators can be unversal truths but at the same time based on after-the-facts calculations ... while the indicators can give you hint on the characteristics of the market, there is never a guarantee that history will repeat itself ...... trading is all about calculating risk/reward and not expecting to be correct all the time ..... we are all trying to find a system that can give us more wins versus lesser losses ....... aside from using indicators to guide you ... there is also a need to observe price actions in its bare form to avoid bottom fishing or top fishing at the wrong time ....

prothaiexpat ..... being able to sell within the day some of the time does not qualify you as a legitimate daytrader ...... if you cannot monitor the market during trading hours , then it is unlikely that you can be a profitable daytrader ........ anyway daytrading is just one of the trading methodologies some traders do for a living ..... but daytrading is not the only method that can make money ...... you can trade the larger time frames and still be profitable ...... maybe harmonica can guide you along the way in this forum ..... from the way i read your posts .... it seems you are more suited to trade the daily charts , with weekly and the 60min , 30 min charts as your entry and exit added references ......

agree ... 50 and 200 do work simply because this is the unviersal reference of almost everyone ........ changing some parameters from time to time is mostly for active trading purposes .....

there was once an excellent truly profitable daytrader who told me that he oftentimes have to adjust his moving averages inputs to search for the recent actions ...... example ... it can be 20ma or 21 ma, 22 ma , or 23 ma etc etc

that particular trader wont disclose to me his holy grail setup for daytrading the s&p futures ... but he is definitely very very profitable ......

thanks for sharing the chart analysis ..... as per my observation about trading ... for a trader to be more active and dynamic in trading he also needs to be more flexible in adapting to market's frequent changes in characteristic .... the world is never designed to be constant , that is why no single methodology can work all the time ..... it is more favorable to have many simple trading tricks available to adapt to different scenariors ...... looking at different time frames and also different moving averages can sometimes help us discover where the action is ........ while the standard 10ma 20ma 200 ma are the most commonly used, it does not necessarily mean those odd averages wont work all the time ........

STOP LOSS strategy is also an art ... you just need to experiment which works well for you .... too much whipsaws is also unhealthy ........ and the secret to formulating a workable cut-loss damage control is to first know the monthly, weekly, daily charts so that you wont lost track of the big picture ......

nqoos website

http://www.nqoos.com/default1.htm

visited the site just now ....... actually learning from any teacher is good education ..... but it is not wise to become dependent on other people's advice ...... you need to learn to eventually develop your own trading workable methodology that suits your trading personality if you want to survive long in the market ....... if you are into daytrading, there is no short-cut to avoid constant monitoring simply because the market is constantly changing in scenarios specially when we are taking about smaller time frames .... if you dont have the time to monitor by the minute, then you need to adjust to bigger time frames for your trading plans .......

learning to cut loss when necessary is also important risk management to protect the financial health of traders ........ but there is also no fix rule ......... it all depends on trading plans of each trader ...... and of course the time frames choices ...... but before making trading decisions, i believe it is best to always know the monthly, weekly, and daily charts before engaging yourself to trade i the smaller time frames to avoid being too focus on the tress and neglecting the forest .....

qqqq is an option for safer trading simply because it is just an index and unlikely to experience bankruptcy ....... you can also design a trading plan wherein you can trade different time frames to keep you busy just trading qqqq ........

actually any trader can visit nqoos forum to learn more about trading methodologies of different traders ......... there is no such thing as ultimate single holy grail to successful trading ....... any methodology can work well for some traders if they know how to use it well ....... if a certain system has an edge over a particular market , then trading in mechanical like manner can also produce profitable result .........

yes ... for serious daytrading it is best to trade futures if you already have a workable good risk/reward trading methodology simply because you will already make money if you are one tick ahead ........ but if you are just a novice daytrader that is still trying to master your daytrading skill, it is somewhat safer to start with stocks ....

and the choice of brokerage is also a big factor in determining your speed execution and transaction costs ...... example.... in tradestation, you are charged only $1 per 100 shares for each stock transaction .... but they charge around $100 per month for letting you use their trading platform ........ therefore there is also a need to consider if you are heavy trader or if you just seldom trades when deciding which brokerage you want to use .......

If you daytrading qqqq, wouldn't it be easier and cheaper for you to trade futures instead?

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bartender ... what comprises your trading personality ? ..... are you more of technician or are you more of fundamentalist ?

harmonica ... what is your method in trding the QQQQ ?

Good to know somebody daytrades QQQQ in this forum ....... i hope we can exchange some ideas on how to daytrade profitably QQQQ ....... i wonder what time frames do you prefer using in your daytrading ?

i am new to this forum ... but i have been trading usa market for a long time ..... anybody here daytrading qqqq for a living ?