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Barry, here is one man's opinion. After going thru a bunch of growing
pains, I too decided to narrow
the playing field. A successful intraday mechanical system can be
developed. The QQQs are highly liquid
and still has a good level a volatility to allow for some money making short
term schemes. I have successed
with a Breakout system. On the other hand, I have gotten unsatisfactory
results on trend
following, moving average kinda home grown systems.
Here are some random thoughts:
- Trading the QQQ's requires sufficient capital to trade the proper # of
shares to make money in a short one to two day period
and enough to overcome fairly high commission costs.
+ Trading the futures requires less capital and yields a bigger bang for the
buck.
+ Trading futures has less commission cost.
+ basing the trades off the money indexes removes some of the exuberance
seen in the QQQ tradeable itself. (ie less
emotional overreaction)
- concentrating on one market or several correlated markets is not a good
idea from a diverification point of view.
- An intraday system can be very labor intensive, mine forces me to stick
around thru out the trading day, that sucks
big time!!
My personal task now is to move to use multiple systems on multiple
uncorrelated markets using systems that use a minimal
of daily bars. So I have to develop/purchase my way to this new
environment. I will trade the futures mkts.
Any ideas from anyone on how I can achieve my goal will be appreciated.
An I hope the above will give you some direction,
Ernie Bonugli
----- Original Message -----
From: "Barry Silberman" <barry@xxxxxxxxxxxxxxxxxxxxx>
To: <omega-list@xxxxxxxxxx>
Sent: Tuesday, November 27, 2001 3:02 PM
Subject: Trading QQQ's Vs E-mini Nasdaq
> To List,
>
> Having spent much time and effort to develope a trading approach for
stocks
> in general (without much consistent success), I thought it adviseabe to
> concentrate on learning the pecularities of one market. As a result, I am
> spending a good deal of time developing a system to trade the QQQ on an
> intraday basis.
>
> Can someone comment on whether it would be time better spent developing a
> system to trade the e-mini Nasdaq 100 or some other particular market on
an
> intraday basis.
>
> Thanks for any insights you can provide.
>
> Barry Silberman
>
>
>
>
>
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