NQ and Other Questions

clylbw

Well-known member
454 4
Hi,

I wonder whether anyone shorted NQ today, 8th April 2004, in the beginning?

What puzzles me is, from 11:25 am to 12:00 pm ET, there seemed to be a reversal developing, which caused me to cover my short. Then it turned out to be a retracement only and NQ continued to fall afterwards.

So, if you also shorted NQ today and stayed through the retracement, can you please tell me why you saw that as a retracement but not a reversal?

I also would like to ask:

1. Do you find technical indicators useful for index futures? The futures are so choppy sometimes many indicators do not seem to make sense to me.

2. Do you think 1-minute charts are useful? I have heard that some people scalp the futures using 1-minute charts, but again such charts seem too choppy to me. Or is it because of my lack of skill?

3. YM closes at 4:00 pm ET while NQ and ES close at 4:15 pm. Why the difference? Why is there an additional 15 minutes for NQ and ES, but not for YM?

I am fairly new to futures, so I apologise if many of the questions are silly. Thank you indeed.
 

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