[cuttshot]

So over the past few weeks I have really been getting hooked on the NQ. This market seems to move great on a daily basis. I'm in the process of doing an extended backtest to see how well it holds up in different market conditions.

I'm curious if anyone has traded the NQ for an extended period of time. If so, does it seem to be a streaky market over time? From what I have seen going back a few months it has held up nicely over an extended period of time. I have been leaning towards looking at range charts. At the moment the candidates are a range of 1 or 2.

Any input from NQ traders would be appreciated. I would be interested to hear what other ranges, tick intervals, or time frames that traders are using on this market.

Cuttshot

[jajuanm2]

I been trading NQ for a while now. I use volume charts, and the speed of the chart will depend on the trader. I like 2500 & 8500 constant volume chart sfor NQ. It's not anything magic with those numbers, they just fits the number of setups I'm looking for each day which is around 3-4. Also I trade for 10-20 points at a time. If you want scalp, then you probably should look at 500 -1k constant volume chart.s In short, I traded Es for about 4 years and YM for about 2 years and I like NQ the best. You just have to add 3 NQ contracts to equal the same dollar amount in 1 TF contract which is another good market. NQ is a very fast market.

[cuttshot]

thanks jajuanm2. I will have to look into those volume charts. Have you found consistent price action over time? The begining of 2010 was very choppy on the index futures. How did the NQ hold up? I haven't had a chance to work back that far in my testing.

[jajuanm2]

NQ, like the other markets bounces off of support and resistance levels each day. A couple days a week you get a trend day. The key is to know where the key support and resistance levels are and to manage the trades based on that information. Try to get in near support and reduce size or close the trade near resistance. Once price get above the resistance, you can always add more size or reenter. Are you swing trading or day trading?

Originally Posted by cuttshot »

thanks jajuanm2. I will have to look into those volume charts. Have you found consistent price action over time? The begining of 2010 was very choppy on the index futures. How did the NQ hold up? I haven't had a chance to work back that far in my testing.

[WorldTrader]

I have a good NQ scalp strategy. I use a range bar of 1 and go for about 3 points on the NQ. It trades well. Both Thursday and Friday I got 6 points and was done. Not too bad considering that Friday started out slow. I will have to look at the CVB Charts and see if I can use it as a filter or maybe some way to trail.

[jajuanm2]

Nice trading! Set a goal fo rputting together a good week, once you reach that then your next goal is a good month, then quarter. Hence, consistency will be the key, you have to focus on ways to execute with precision consistently without thinking about money. Once you do that you can just add contracts.

Originally Posted by WorldTrader »

I have a good NQ scalp strategy. I use a range bar of 1 and go for about 3 points on the NQ. It trades well. Both Thursday and Friday I got 6 points and was done. Not too bad considering that Friday started out slow. I will have to look at the CVB Charts and see if I can use it as a filter or maybe some way to trail.

[Tiobingo]

Jajuanm2, that is very good advice. Setting goals is key to success. Moving the account forward incrementally. I have traded the NQ for quite some time with a variety of strategies, most of them in the 4 to 8 point range. Currently I use a 2 point range bar and have had very good results. My trades of late are in the 7 point range, give or take. I find that a trailing stop works well too and I could catch some larger moves on most sessions. It's a great market, for sure.

I'm going to look at your longer term volume charts too. I like that idea. I think its smart to go for fewer trades to keep the trade costs down, if you can hit a reasonable winning percentage. Thanks..

[cuttshot]

Jajuanm2,

I am using a scalping strategy at the moment. I'm using a range chart of 1 going for 3.5 points on a target. Your longer term charts are on my list of things to look at. Had 3 trades on the NQ today all for winners. Took a partial winner on one of them so total for the day was 9 points. The NQ continues to be a hot market to trade. With the Russell products rebalancing this week the NQ is my index future of choice.