Positionsize formula

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UMU

For daytrading stocks with an average daily volume > 1 million, can a formula be formulated for the "right positionsize" if the following data is known:

AvgDailyVolume for the past 10 days (example: 5 million)
YesterdaysClosePrice (example: 25.00)
YesterdaysVolume (eample: 5,250,000)
Curent Time of day (example: 11:00 AM market time)
CurrentPrice (example: 24.90)
CurrentVolume (example: 1,200,000)

The goal is to find the optimum, ie. the max, Positionsize which under normal conditions (without any surprizes like news etc) and normal market times (ie. after 10:00 AM) will give an easy fill?
That is: max. how much shares of such a stock are easily tradeable:
a) with just one limit order?
b) with just one market order? How much Slippage to expect?
 
Don't think there's enough info to do more than a complete SWAG - if you're looking for something analytic, you'd probably need something along the lines of an average volume bid and offered within X cents of the current price probably over several days.

Then you'd have a more or less analytically derived estimate of the # of shares you could fill if you're willing to take a fill (sweep) within that X cents of the current price.
 
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