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Am not exactly into details because i just scan the account end of day...ok,for
Monday's trading i will be specific and get more details.
Since its daytrading, i don't see how "equity/capital" as in quote unquote in
numbers.....as he is monitored by our president and auditor all session (as all
our trading terminals are..) in general...on average be buys and sell a millon
dollars worth of stocks per side (buy and sell). I don't see any capital
involve as we are flat by end of day. Maybe we are more into thinking
stomach/guts capital or what our brokerage how much rope they are giving him to
play with..wel so far i think they can live with him doing around 1 million per
side per day.
This million is the total for the day usually spread in around 5-6 stocks (on
avearge everyday (and are usually the most active stocks traded for the day as
in daily volume)
and of the 5-6 stocks he traded daily only one wl lose and very minimal as in
500-1000 dollars by end of the day....but the 4-5 other winners are all baggers
of 2,000 to 4,000 each (on average). since i don't have access to our network
right now...i will get the details for the coming monday...i hope he will be as
consistent!! haha
as said before...he usually losses his mostest at the first hour(around --1500
dollars,but this itself is getting to be a rarity these past few days)...and he
comes back fighting to profit by the close.
so far from my observation his cut loss is one or two flucts from his purchase
or short price...lets say he bought at 31 cents,he cuts at 30,29...thats the
end of it..loss one rounf in boxing...a new round he can either be long or even
short again...just punching up and down with the market flow all day at
different prices..each round trip i think is independent and i think he
mastered reversal also..when he is wrong he cut and reverse position and comes
in big!
by the end of the day..each stock he might have trade round trip 4-5 times
per...and i can see the average of his end of day total buys at .3148 cent and
selling at .3227 cents but at ten miilion shares per side...that small
difference (w/c even i personall snorted at compared to mine) realy turns out
very BIG!
an important edge right now i realize is his computer being at the floor is the
fastest execution terminal than the upstairs traders (our kiddos are networked
upstairs) and me remote dial up dedicated terminal at home is even slower,but
the difference is less than a second...but i think that small edge is quite
significant..alsoi think he when he plans to buy or sell something...he already
entered the price and quantity so that only one press of the enter key all
needed to execute....like a cocked gun all the time,in the highest level of
competition of skills and talents..even races...a mere difference of
milleseconds differentiated the gold medalists from the silver and bronze
competitors,so every bit of edge do help.
i think he takes profit some or half when he is positive and ride the rest to
the fullest
will find out and talk with him next weekend if he is thinking of scalping in
each trade or just always being conscious of his latest average intrday cost of
long or short...and risk/manageing it all day long and making sure is longs on
average is lower..even a wee bit than his average sell prices...
well..of course wih his size he will always be monitoring the time of day as he
had to exit by eod of day. by the way...at a fixed time of every session he
goes out to smoke and pee for 10-15 minutes* usually leaving flat or as another
trader to cut a specific position when a specific price is being done by the
market.
*thats a long time as our daily session only last 3 hours and 40 minutes...our
ouder traders guys and girls usually hold them till closing time..haha or they
go in mass just before open...
okay..will put in details for the coming monday session..i hope he is
consistent!! and continue the streak....
am also quite busy (busybody) so am not sure can respond to everyone, will just
post a summary of different people's queries to the list for each email i can
post
Gwenael Gautier wrote:
> Hi,
>
> To make this a lively discussion, got a couple questions here:
> - How much equity does your friend put up to trade, to generate these daily
> returns
> - what does he trade
> - what size trades does he enter
> - how many dollars does he lose in a losing trade,
> - how does he define his stop loss level
> - how many does he win in a winning trade,
> - how does he define his winning exits.
>
> Thanks in advance,
>
> Gwenn
>
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