No,not sell stops. He put in sell limit orders above the market price. Personally, i don't see what the big deal is. I don't understand how putting a load of sell limits in caused the flash crash.
26. As reflected in correspondence with both SARAO and an FCM he used,
the CME observed that, between September 2008 and October 2009, SARAO had
engaged in pre-opening activity-specifically, entering orders and then canceling
them-that "appeared to have a significant impact on the Indicative...
However the DoJ's criminal complaint shows that Mr Sarao "took significant steps to protect his assets," which included setting up a new company, Nav Singh Milking Markets Limited, on the Caribbean island of Nevis, in late April 2010, shortly before the 'flash crash' took place.
Nav Singh...
this is the way i see trading: most of the time you are just churning your account, make small bets here and there, risking maybe 10 to 50 basis points per trade, either breaking even or losing a little overall...but with always with an eye for the trade in which you can have very high...
Um, yes it is. I'm ALWAYS looking for something where i can bet big and make a ton of dosh quickly and, paradoxically, safely.
OP, if you want to do this trade (i don't much of it myself), use otm put options for max leverage.
50% up from here is approx 3000.
The interesting thing is IF we pretty much know that rates are going neg and therefore stocks will go through the roof from these levels, it could be time to make an absolute fortune....