One of my new strategies is getting 5 lot fills on ECN's when a bird whistles outside or a corvette drives past on certain sunny days. I am getting my fills from some guy each day, maybe it's you? I only know it happens every time I hit the bid with a 5-lot order 17 times in a row (I have Parkinson/Creutzfeldt-Jakob/BSE I'm not so sure which one), that makes an 85-lot! I do assume of course that we're both trading SUNW, since I only have $659.38 in my Ameritrade account, which doesn't allow me to trade the $10+ giants, like ASKJ. See, now you've found your match. How exciting. You really need to teach me how you get the nerves to do 85-lots at once, though.
I have been scaling into 17 share lots over the course of the day. Need to avoid PDT since I also have capital limitations. I am thinking of selling calls once I get the position up to 100 shares. Does anyone have any advice for hedging my risk? ebo
You could apply an intermarket octopus spread, coupled with a seasonal butterfly condor matrix spread in TT autospreader, and then hedge the whole thing in several currency markets to reduce overnight risk. IF you do this properly, you shouldn't be risking more than $50 or whatever the commissions and slippage could amount to, so that could be a maximum 11.62% risk exposure at a total position of 100 shares of SUNW at $4.30 each, (total $430). I'm afraid neither me nor you will be able to improve on this. Perhaps you should consider day trading to avoid such massive overnight exposure altogether.
Scientist? Wouldn't the Boa-Constrictor Spread be more appropriate here? He needs to get in during congestion to get that fill...so the obvious would be to hedge with the boa, combined with a scorpion bias.... Michael B.
hey Scientist does that style of trading have to be only when a corvette drives by your home? i don't know where you live and when it happens. can i maybe change it alittle i'm thinking. i would like it to be when a 4 door car drives past my special needs school. also i would like to trade 37 shares at a time. i like gummybears and trading your size might alter my life style. please any feed back would be great.
I mean that by the time my ECN order hits the book (tenths of a second), his API has sent a matching order.
I don't know Dustin personally, but as another trader registered here since '99, and having read a lot of his posts, I'm pretty sure he's not a piker. For those who didn't follow, he is not placing odd lot orders. He is placing round lot bids and offers on an ecn, and getting consistently hit with 85 share fills, and is trying to satisfy his curiosity about where the hell they are coming from. Then a thread which starts with an intelligent question gets turned into a complete pile of bullshit by the kindergarten corps.
I agree with that notion - Dustin is absolutely not a piker, or certainly not in the position to be called that by someone who registered this year (4 years after Dustin). And clearly, it was a serious question, but come on, it was also funny - fair enough to make a little joke out of it, take it with humor, like Electric & me, for example. If you can't laugh about the implied ironies here, then you're really taking your job faaar too seriously and need a bit of a holiday. Ebo, on the other hand, went quite too far calling Dustin names, after asking a simple question, and I think he owes him a great big apology. Come on Ebo, don't be a d*ck.