How much $$ is required to be Scalp Day Trader ?

Quote from hayman:

I've been trading for a year now, and I am a Scalp Day Trader, who likes to end each and every day in cash. I trade NYSE issues.

I'm curious, but for similar type traders, I have 2 questions:

1) How much of your own capital do you work with daily ?

2) What is your average block size that you trade ?

The answers to the above for me are:

1) I started with $ 50K initially. I am currently working with $ 65K,
but think that this might be a little light.

2) For most of this first year, I've been trading 2,000 share
blocks. I'm thinking of doubling this on average from here on
in.

Would greatly appreciate any other opinions on the above.
More...

You can do it with only 2,000.00 total if you trade the ES emini. Only 500.00 a contract. Make 4 points, take home 200.00, turn off your computer, go golfing.
 
Quote from Scientist:



Particularly in stocks, you soon lose the benefit of money velocity. Try doing a quick scalp on 50,000 shares. Doesn't work, folks, not even with INTC or MSFT. I know, I've tried less than that.

While I've been scalping index futures for quite a while now (ES, NQ, some YM), I actually thought I'd have another look at stocks the other day - Just for fun. I have full stock datafeed on my subscription, so I thought why not.

~The Scientist :cool:
More...

INTC's volume was 48 million last week. Who's gonna care about 50k?..Are you saying, if I could trade that size or more, I could make the market go in the direction I wanted?...sweet :p
 
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