Yes.
Although I wouldn't call it daytrading, more like intraday trading. 2 guys in our group take on enough 5-10k position of various stock to push the BP to the levels you speak of.
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Is it possible to day trade $20 million+
- Thread starter silk
- Start date
Yes.
Although I wouldn't call it daytrading, more like intraday trading. 2 guys in our group take on enough 5-10k position of various stock to push the BP to the levels you speak of.
BTW I read that daytrader Mark Rosalbo from NJ Was Daytrading 50k-100k shares of QQQs and Spiders, the same article said that he made 1,5 millions dollar last year..
part of the article:
Mark Rosalbo trades barefoot. That is just one of the benefits of trading from his suburban New Jersey home. He has an office in his attic equipped with multiple flat-screen monitors that he uses to place trades and analyze markets. The benefit, he says, is time spent with his family. Not being the typical type A personality, he doubts he would thrive on the trading floor. But upstairs, Rosalbo does just fine.
The quiet atmosphere he created belies that on any given day Rosalbo can account for as much as 30% of the off-hour volume in the QQQ, the ...
www.futuresmag.com/library/2003/09/03_0903soundoff.pdf
part of the article:
Mark Rosalbo trades barefoot. That is just one of the benefits of trading from his suburban New Jersey home. He has an office in his attic equipped with multiple flat-screen monitors that he uses to place trades and analyze markets. The benefit, he says, is time spent with his family. Not being the typical type A personality, he doubts he would thrive on the trading floor. But upstairs, Rosalbo does just fine.
The quiet atmosphere he created belies that on any given day Rosalbo can account for as much as 30% of the off-hour volume in the QQQ, the ...
www.futuresmag.com/library/2003/09/03_0903soundoff.pdf
Quote from domi93:
BTW I read that daytrader Mark Rosalbo from NJ Was Daytrading 50k-100k shares of QQQs and Spiders, the same article said that he made 1,5 millions dollar last year..
part of the article:
Mark Rosalbo trades barefoot. That is just one of the benefits of trading from his suburban New Jersey home. He has an office in his attic equipped with multiple flat-screen monitors that he uses to place trades and analyze markets. The benefit, he says, is time spent with his family. Not being the typical type A personality, he doubts he would thrive on the trading floor. But upstairs, Rosalbo does just fine.
The quiet atmosphere he created belies that on any given day Rosalbo can account for as much as 30% of the off-hour volume in the QQQ, the ...
www.futuresmag.com/library/2003/09/03_0903soundoff.pdf
Can anyone post the full article? the link doesn't work.
I have over 70 million in buying power between three accounts. For daytrading however, I doubt I've ever had more than $3M on at a time.
Now, if I wanted to go out with a bang, I could have some fun unleashing that kind of capital all at once. Would really freak out a few risk monitoring guys I'm sure.
Now, if I wanted to go out with a bang, I could have some fun unleashing that kind of capital all at once. Would really freak out a few risk monitoring guys I'm sure.
Quote from Chagi:
I would think that someone swinging that kind of buying power in equities would be forced to either trade hugely liquid issues (such as the QQQQs), or would be focused on a basket trading approach in order to cover sector moves (someone already more or less mentioned this).
Yeah....Probably a combination of both...
Nick
livermore said the big money was not made in day trading... this is probably why
Quote from silk:
Anyone think it is possible to day trade stocks (not futures and close out positions by end of day) with buying power in excess of $20 million?
It can be frustrating to close out of 20,000+ share positions at end of day without slippage. So unless you are trading S&P100 names where there isn't much money to be made, I would think it would be a great liquidity hurdle to day trade stocks with greater than $15 or $20 million buying power. The good day trading stocks are usually under $10 billion market cap and often do not accomadate 30,000 share positions. Some do, but not day in day out.
So therefore I assume that virtually nobody is daytrading with $20 and $30 million buying power in stocks. Am I wrong?
So if you have $30 million+ with which to day trade, you won't be day trading stocks. I guess currencies or futures would be your only bet. I guess thats why hedge funds are all in Spyders and futures.
"Anyone think it is possible to day trade stocks (not futures and close out positions by end of day) with buying power in excess of $20 million?"
The following is certainly reasonable:
(note that each block of 20k could be replaced with (4) 5k blocks - making 20 trades or 40 round trip.)
20,000 shares GOOG @ $285 = $5,700,000
20,000 shares SHLD @ $155 = $3,100,000
20,000 shares UTX @ $107 = $2,140,000
20,000 shares CME @ $230 = $2,300,000
20,000 shares TOL @ $96 = $1,920,000
Total: $15,160,000
One can certainly expand on this.
Now, would one want to trade in this fashion? I would certainly find it more useful to build positions in a variety of stocks over a certain amount of time.
The following is certainly reasonable:
(note that each block of 20k could be replaced with (4) 5k blocks - making 20 trades or 40 round trip.)
20,000 shares GOOG @ $285 = $5,700,000
20,000 shares SHLD @ $155 = $3,100,000
20,000 shares UTX @ $107 = $2,140,000
20,000 shares CME @ $230 = $2,300,000
20,000 shares TOL @ $96 = $1,920,000
Total: $15,160,000
One can certainly expand on this.
Now, would one want to trade in this fashion? I would certainly find it more useful to build positions in a variety of stocks over a certain amount of time.