25,000 Roundtrips a day?!

[dealmaker]

Nav is once in a generation type of a trader. He was a superstar and they are very rare. Tom Dante was interviewed on chat with traders, you can find it on YouTube; he is no Nav.
25k round-trip lots were done back when markets were much less fragmented, had much more velocity, a lot less HFT nuisance, far more retail traders, very few dark pools and when props were dime a dozen, its not today's reality.

 

[Overnight]

Compared to 1980s, ES is watered down market to entice anyone to come to trading thinking they have a shot, CME makes so much more in fees. I use to have margin of at first $25,000 then lowered to $15,000 each contract, each full point was $500 and each nickel was $25 min. tick, so guys trading 50 lots, is now 500 on watered down ES. Markets moved better then, some of my best trading was 4 point range, I laugh now when so many complain of ten point ranges. But you really learned how to counter trend trade...

Kinda' like the salad days when tics were measured in fractions of a dollar, like 1/8th and 3/16ths? Yeah, those were the days. Fractions! When men were men and calculators were scared!

 

[comagnum]

Big deal if some trade has a 7 digit year, many people do this and don't call the press to brag about it. Most end up giving it all back and can never replicate it- just shooting stars. These shooting star kids that never had a job to begin, having borrowed money from their family, inherited it, or are just spoiled rotten - Now they have resorted to selling training - a tell tell sign of blowing up. The traders that put in at least a decade if not two or three of good performance are the only one I care to know more about.

 

[lawrence-lugar]

I didn't thoroughly read the complete article...
But "25,000 Roundtrips in a day" is absurd -- scalping is for losers, in my simple humble opinion.

You can make a bundle, with just one or Two,

 

[Handle123]

Kinda' like the salad days when tics were measured in fractions of a dollar, like 1/8th and 3/16ths? Yeah, those were the days. Fractions! When men were men and calculators were scared!

I liked it much better when it was 16ths in stocks, I often thought it was a way brokerage tried to get paid as separate fills when they went to pennies. Diluting doesn't make all things better, some always asking if there a way to trade futures in even smaller increments than they are now.

 

[Handle123]

I didn't thoroughly read the complete article...
But "25,000 Roundtrips in a day" is absurd -- scalping is for losers, in my simple humble opinion.

You can make a bundle, with just one or Two,

You ever thought if not for scalpers, you might get 1-20 ticks slippage on every trade? All those I know who been scalping for five years plus are consistent, you have to be, it is a niche, you don't make many ticks, but it is consistent, and once automated correctly, it provides volume. Buy low and sell high, let trend traders fight in the middle.

 

[comagnum]

Take trader 71 or the pit bull - those guys use to account for a lot of the volume on the ES, trader 71 now trades only about twice a day, and the pit bull no longer trades futures - he is selling options premium now. Why did these huge volume movers quit - simple - HFT's own the spread - they adapted. Most people are way,way late to the scalping party and are just fish food for the big HFT sharks.

 

[tommo]

Is anyone here a "pro-trader"? If not, then why post pro-trader stats, since we cannot be them? If folks here ARE pro-traders and are banging on in ET, then I weep for the future.

Yes. I'm a pro trader. Have been for 10 years. So was Nav. Completely pointless saying 'he was paying this' 'he was having to hold this on his account' when it is wrong Might as well talk about facts

 

[Surprise]

Lol at pro trader he is being prosecuted and he lives with his parents , hardly a pro trader more like a loser .

http://www.bloomberg.com/news/artic...ind-lived-with-his-parents-and-couldn-t-drive

 

[tommo]

Lol at pro trader he is being prosecuted and he lives with his parents , hardly a pro trader more like a loser .

http://www.bloomberg.com/news/artic...ind-lived-with-his-parents-and-couldn-t-drive

I've worked at the same firm as him and know many of his friends. He wasn't doing what he was arrested for, and so what he lived at home? His choice. He has best part of $10 mill in his trading account.
If that doesn't make you a 'pro trader' I'd happily aspire to whatever he is.