Short-locating QQQ vs. Buying PSQ - Novice Day Trade Help

lbhere

lbhere

Today is the fourth time I have tried to short the QQQ and have not had the shares available to me. I have NOT tried downloading my platform's (TS) extra app because it seems like an extra step that takes time that I don't really have in day trading.

So please help me out. Is going over to the PSQ and going long better than getting the "short locate" app and taking the time and paying the money to locate shares??

What do most people do? Is it much more expensive to locate additional shares and purchase them in this manner??

What do you do??

Thanks in advance!
 
A blessing in disguise?

lbhere said:
Today is the fourth time I have tried to short the QQQ and have not had the shares available to me. I have NOT tried downloading my platform's (TS) extra app because it seems like an extra step that takes time that I don't really have in day trading.

So please help me out. Is going over to the PSQ and going long better than getting the "short locate" app and taking the time and paying the money to locate shares??

What do most people do? Is it much more expensive to locate additional shares and purchase them in this manner??

What do you do??

Thanks in advance!
More...
 
lbhere said:
Today is the fourth time I have tried to short the QQQ and have not had the shares available to me. I have NOT tried downloading my platform's (TS) extra app because it seems like an extra step that takes time that I don't really have in day trading.

So please help me out. Is going over to the PSQ and going long better than getting the "short locate" app and taking the time and paying the money to locate shares??

What do most people do? Is it much more expensive to locate additional shares and purchase them in this manner??

What do you do??

Thanks in advance!
More...


So far TQQQ has not been hard to borrow even when QQQ and QLD was at least on the platform I am using(TS which looks like you use too). It moves relatively close to the way QQQ does, it's levered 3x and cost less than half of QQQ per share.
 
formikatrading said:
A blessing in disguise?
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He did mention he is day trading, so if he couldn't short today, he missed out on several decent moves. I couldn't short QQQ either, thankfully I have TQQ, QLD and etc up as well or would of missed out on a decent day myself.
 
trdes said:
He did mention he is day trading, so if he couldn't short today, he missed out on several decent moves. I couldn't short QQQ either, thankfully I have TQQ, QLD and etc up as well or would of missed out on a decent day myself.
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So instead of "locating", you pop over to an inverse QQQ chart and go long?

This is what I was thinking would be more expedient. So there are no issues going LONG on an inverse when you can't get short on the main ETF?

Are the fees with the inverse worse or better than locating, do you know??
 
lbhere said:
So instead of "locating", you pop over to an inverse QQQ chart and go long?

This is what I was thinking would be more expedient. So there are no issues going LONG on an inverse when you can't get short on the main ETF?

Are the fees with the inverse worse or better than locating, do you know??
More...

I don't know, I do the most effective thing for me personally which is shorting TQQQ, as on TS it has not been hard to borrow for me on any days so far. I do not like the way the short ETF's move, I can't effectively day trade that.

I chart NQ futures, but I still mostly trade TQQQ and will also trade QQQ and QLD. This allows me a lot of flexibility as I can be overall short and hold some TQQQ short from higher up and still take some long positions on QQQ or QLD against that.
 
Arnie said:
Just buy SQQQ, but keep in mind its 3x QQQ
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3x is a bit too aggressive for me right now. But I was thinking about the 1x (1:1). Other than it being more aggressive, is there a reason you say the SQQQ?

Thanks.
 
trdes said:
So far TQQQ has not been hard to borrow even when QQQ and QLD was at least on the platform I am using(TS which looks like you use too). It moves relatively close to the way QQQ does, it's levered 3x and cost less than half of QQQ per share.
More...

Thanks. I will look into this one.
 
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