Going long 100K QQQ's tommorow

Quote from steve46:

To whoever it is:
This is really amateur hour. No skilled professional would announce a size position. Smart money will be scaling in (and out) during the morning, during lunch and in the afternoon. They will be looking to accumulate positions a bit at a time so that they don't have to pay up (as you will have to when you put on size all at once). They will be showing just enough size to buy down supply, and then selling the market down on news if it happens, only to buy back more at a better price latter in the day. You on the other hand will have turned all your cards over and will be sitting there butt naked. Hey, thats all right, don't change a thing rookie. Good luck. Steve46

P.S. How about telling us when exactly you will be placing your order, so we can step in front of it?
More...

===========================================
Title is a paraphrase of Cramer recently.

I dont even paper trade that big all at once;
and usually dont announce to all my paper trades , especially before the paper trade fact!:D
 
How did you decide you want to take your position in the QQQ's instead of the NQ's? Are you not a US taxpayer? Perhaps you have such a big capital loss carryforward that the tax difference doesn't matter?

It's worth considering the difference carefully if you haven't already.
 
Quote from newestmember:

I won't buy market gaps like this...I'm a buyer at yesterday's closing price or below....
More...
That is why I suggested not missing the overnight. Could have done it overnight with NQ, then hedged in the morning with QQQs.

Last time I did that (traded the overnight session on ES) I was worthless for two days though. Trading 24 hours straight is hard. But I thought you had 100K QQQs when you were talking your position.

Not really worth losing sleep to make 9 points on 4 NQ. Wait a minute...:eek:

nitro
 
Quote from newestmember:

How are short-term capital gains on the NQ's any different than the QQQ's? Thanks!
More...

60% of capital gains from futures trading, regardless of the holding period, are considered long term capital gains. See IRS Form 6781 lines 8 and 9. This preferential treatment for futures vs. securities can make a big difference in your net profit.

The only reasons I can see for trading the QQQ's instead of the NQ's is:

- you aren't a US taxpayer
- you have a huge capital loss carryforward
- you want a small position and a single NQ is too big
- your money is in a securities brokerage account rather than a futures brokerage account and you value the convenience of being able to trade QQQ's immediately.

Everyone else (well capitalized, profitable, US traders with a futures account) should be trading the NQ's. If you don't have a futures account and do a lot of securities trading — IB has a nice "universal" account that will allow you to trade both securities and futures.
 
There is so much to this market that I don't know...I started out 6 years ago trading momentum on the Nasdaq, and eventually developed a longer-term swing style...I've never picked up on futures and with the steep losses I incured the first 2 years trading, I hate the idea of paying my dues trying something new...but I think you're right that I should incorporate some future's trading into my Universal IB account..thanks!
 
Quote from newestmember:

I'm going long 100K QQQ's tommorow within the first half-hour. Stop loss at $33.77. Good luck all.
More...


I'd guess: You're going to make a killing.
 
You must log in or register to reply here.
Back
Top