like others mentioned, it would have to be basket trading, of which i'm not aware of any strategies unfortunately. a bbox program also is certainly capable.
Is it possible to day trade $20 million+
- Thread starter silk
- Start date
liquidating that TOL position would certainly involve crazy slippage
reading silks post in the far past I think he already knows the answer to his question. If you had a really good floor broker on the nyse, who was tight with the specialists you could probably get in and out without crippling slippage.
So my answer would be.
Are you tight with a floor broker who could work your orders. If not you better have a computer program that only goes that large on gap days with volume.
So my answer would be.
Are you tight with a floor broker who could work your orders. If not you better have a computer program that only goes that large on gap days with volume.
Yep, program/blackbox trading would be the best for this kind of money.
I thought Lefty (or was it EricP) has, like 30M BP for day trading? Dwarfs that 20M eh?
Like dafugginman suggested in his post above....You should basket trade it....Why risk 20 % of your capital in one position.....that would be ridicules.
Anything can happen to any individual stock if halted for news. To protect yourself spread your risk over a basket with at least 2 % of equity in each position. Should any stock be cut in 1/2 ....no big deal... But remember if your short, the position can still be halted and open 300 % higher or more. But it still wouldn't devastate your portfolio.
This would also reduce your slippage which would IMHO more then offset any additional transaction cost if your not paying per share commission...
The hard part......make sure your trading with the indexes...
Nick
I know a guy very similarly equipped trading futures contracts, also from his attic. He trades roughly 10 contracts each in about 8 instruments. Capital about $100,000.
Doubles his money every two weeks or better. Never fails to take his profits out of his account so that it always stays around $100mil. That's about $2.5+ million a year. The guy doesn't seem ambitious like some ET characters dreaming of pyramiding into the billions. This guy doesn't feel any need to tell stories to www.futuresmag.com. Like Rosalbo, he seems to love "the quiet atmosphere he created", only in a still more serene manner. BTW, my cool buddy would go nuts simply by thinking about doing something like 30% of the off-floor volume.
Why trade $20 million +? Even guys like JP Morgan suck in trying to do this. Believing what I read at ET's, in trying to stop hemorraging, many are throwing out them rascal quants.
PS: Your above url is an obvious booboo. All you find about 'Rosalbo' reads:
CORRECTIONS: The sources for the charts
on pages 51 and 52 of the August issue are
âAdvanced GET, Trading Techniques Inc.â The
current trading firm of Mark Rosalbo, the subject
of the Trader Profile in the August issue,
is Assent Trading. Futuresregrets the errors.
However, from this nimble nononsense seems to may conclude that Mark Rosalbo is not a quiet little homegrown type, but a rather run of the mill operator of a current 'trading firm'. Could be private, but nononsense doesn't go for this idea. Why does a quiet discrete little guy bother then with hookers like www.futuresmagazine.com?
nononsense loves these kind of tales about Vivian, Mark a.o. Keep them coming!
nononsense
Hey guys,
You got nononsense all confused now. I read at ET's that what you need for this are grey boxes instead of them black things.
Would you suggest I convince my buddy to also write things up for www.futuresmagazine.com ?Quote from Kicking:
aren't you slightly exagerating your buddy's performance?
Unlike Rosalbo, he won't like this. Let me add, my buddy even don't need this. Like Rosalbo though, he would prefer to stick to his attic.
PS: You may recall that once or twice before, nononsense timidly advanced the possibility of doubling your money in 1 to 2 weeks. He got severely abused by some losers for uttering such statements. Nay, some even called it nonsense. My buddy empresses nononsense to become more discreet in such matters. Mark Rosalbo's example fortified nononsense to be a bit more forthcoming. I'm sure I'll get hell once more about this.
nononsense