You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Who is trading 500k to 1Million shares/MONTH?
- Thread starter Pound
- Start date
I used to do that much, I was up over 2m for a few month last year. I have since made some serious efforts to move this number down and my averages lately are about 400-700k a month (which doesn't mean that I don't have half million share days (hours)). Lately, while I still scalp, I spend most of my time researching microcap companies and buying lots of them instead. The taxes are much better for me if I hold something for a few years which is something that I never considered before. Besides, I'd rather own 1-3% of some company that goes up a few thousand percent than scalp myself brainless all day long and just pay the taxmen and brokers.
Last year I paid over 200k in commissions I belive. It was steep. I'd rather not say how much I made, but it was in the low 6-figures range. I think my best month was sept/oct. I had one 60k day (day the markets bottomed I bought like 75k shares moo that morning and sold them out all day/week long). I still finished the week only up like 20k. That 2 month period I made about 60k or so on MHX and LHO together. I think that at one point i had over 50k shares of the two stocks combined. I got the bottoms on both stocks and my buys were the low ticks in each. I don't know if that answers your questions. Do you have anything more detailed.
Last year I paid over 200k in commissions I belive. It was steep. I'd rather not say how much I made, but it was in the low 6-figures range. I think my best month was sept/oct. I had one 60k day (day the markets bottomed I bought like 75k shares moo that morning and sold them out all day/week long). I still finished the week only up like 20k. That 2 month period I made about 60k or so on MHX and LHO together. I think that at one point i had over 50k shares of the two stocks combined. I got the bottoms on both stocks and my buys were the low ticks in each. I don't know if that answers your questions. Do you have anything more detailed.
Huh, I don't follow. Is that a response to me, or the notion of trading 1m shares a month.
1M a month? That averages out to only 50K a day. My average daily volume is somewhere between 75K - 200K. So - yea - I guess Im trading above 1M a month. I dont think that's too much. I wish I could do what P2 is doing...not trading much and make huge profits. Im what they call "King Mook"...lol..happy with 25 cetns on OMC when it moves up $25.
My commisssion is 0.7 cents per share. Straight up.
My P&L? Well....That's between God, my firm, my girlfriend and myself. He he he.
My commisssion is 0.7 cents per share. Straight up.
My P&L? Well....That's between God, my firm, my girlfriend and myself. He he he.
F1, I'd go absolutely nutz scalping pennies like that. What's your reserve size? which stocks? My reserve is 1000, but it seems better while at IB to throw 2k's around rather than multiple 1k orders like I did at cyber. It's a bit more cost effective. It'll save me like 5 bux per 2k shares.
F1
What's your ecn choice for bidding/offering?
What's your ecn choice for bidding/offering?