Vicious thrusts and fakes in NQ this week

[VSTscalper]

Quote from mtwokay:

Stop it with all the NQ hype! You're attracting all the ER2 players and I'm left trading against myself, or......maybe it's time for me to make the jump.

I've spent so much time on ER2 I almost feel guilty jumping over to NQ. I don't know if it's me or the market but the nature of ER2 seems to have changed over the last 6 months. I used to bag 2 points in a heartbeat but now it's taking 30 min and i have to wade through all the freakin noise to get there.

But when I look at NQ, who could ask for a smoother market? It's like taking candy from a baby.

Are there any ER2 jumpers out there with insight on moving to NQ? Has the nature of NQ changed recently? Is it better or worse than ER2, or should I just jump in and join the NQ party?

mtwokay,

While the NQ did look great today....personally....I would not switch from the ER2 to the NQ.

Below you will see my comparison....I think I got the Highs and Lows correctly. When comparing Dollar movement....the ER2 far surpasses the other major e-mini's....just about everyday. The overall patterns are similar....most of the time....but the potential Profit or Loss....is greater on the ER2. Anyway....that is how I look at it. Include the Volatility....the many up_down movements....this keeps me trading the ER2.

--------------------------------
NQ_high = 1826
NQ_low = 1805

total = 21 points = $420 Range top to bottom

--------------------------------
ER2_high = 797.50
ER2_low = 791.70

total = 5.8 points = $580 top to bottom

--------------------------------
ES_high = 1411.25
ES_low = 1404.50

total = 6.75 points = $337.50 top to bottom

--------------------------------
YM_high = 12384
YM_low = 12325

total = 59 points = $295.00 top to bottom


I have put up 4 Domes....one for each market....and traded all 4 at the same time. I can usually get in and out of the ER2....on a 2 tick trade....at least 2 to 3 times....before I can get out once on the ES. Of course....you cannot trade the large lots....on the ER2....like you can on the ES....but....I never trade more than 4 contracts anyway.

The tech stocks seem to be picking up....so the NQ is also....but it is not for me.

The following is a 610 tick chart....my Trending chart. I also use a 20 tick chart for Scalping.

VSTscalper

 

[brownsfan019]

Quote from mtwokay:

Are there any ER2 jumpers out there with insight on moving to NQ? Has the nature of NQ changed recently? Is it better or worse than ER2, or should I just jump in and join the NQ party?

MT - I think it all comes down to your trading style. For example, right now with the lack of volatility on the ES, I have not been trading the ES much recently. About 6-9 months ago the ER2 was too erratic for me. Now, I am trading the ER2 again and just monitoring the ES.

Market conditions change, we all know that. Sometimes it's a matter of either being patient with one market or having a few options available to you so you are not reliant on one market. I personally watch the indexes, EC and QM. There's a good chance that between the indexes, the Euro, and Crude Oil there are trade opportunities just about each day depending on how you trade.

I would just recommend that you consider trading the NQ while keeping your ER2 chart up as well. Remember, we are not 'married' to a particular market, you are allowed to 'cheat' and see what else is on the menu. Who knows, you may just find something that is even more appetizing than what you are used to. You won't know unless you try.

 

[JimmyJam]

Quote from VSTscalper:

--------------------------------
NQ_high = 1826
NQ_low = 1805

total = 21 points = $420 Range top to bottom

--------------------------------
ER2_high = 797.50
ER2_low = 791.70

total = 5.8 points = $580 top to bottom

--------------------------------
ES_high = 1411.25
ES_low = 1404.50

total = 6.75 points = $337.50 top to bottom

--------------------------------
YM_high = 12384
YM_low = 12325

total = 59 points = $295.00 top to bottom

VSTscalper

Excellent analysis VSTscalper. It's really good at showing the overall performance of the different indices relative to each other. The reason it's sooo good, is that it gives the individual trader a good reference of what indice to trade relative to their risk tolerance.

I trade the YM and ES, and keep the NQ up to get an overall reference to market strength (everything up is obviously bullish, everything down, bearish, mixed is weak bull or bear). I won't trade the ER with someone's else's account, much less my own (outside of my risk tolerance, problems with scalability).

However, whatever indice a trader chooses, they should trade it consistently, because the problem with jumping around from one indice to another, is that you're just going to be chasing performance. IMHO it's not a good idea to just switch-up the indice that you trade just because of one day's out-performance, because yesterday's leader is going to be tomorrow's laggard.

Best Regards,

Jimmy J

 

[duard]

Quote from duard:

Interestingly that up probe got spanked hard but with the uptrend intact it was again a short term buy signal although this uptrend is 90 years old in human years.

As for volatility maybe DX but not NDX.

Now today's end of uptrend, beginning of downtrend movement with volume qualifies as a "vicious thrust." Although this sell-off was very orderly without significant "skips" on the way down.