Do you mean 1000 actual entries into a new trade!! That is mindblowing if so. What platform do you use? I find it relatively easy to get a SOES order filled in SUNW. Granted when it starts to pront through a price level you might not get it at that instant, but 99% of the time additional MM's will come in to that price level before it prints to the next price level. What kind of order do you usually use, ie a SOES limit at the current inside price, limit above/below, or market? What do traders at your firm who scalp SUNW look for? I would imagine they take large size looking for just a few cents?
Still Scalping, but only on news related stories find the market to illiquid and not moving enough to cover costs. At Andover in Hoboken.
"How do you feel about BRCD and EMLX as daytrading stocks?" Very interesting stocks. My edge is having very low commissions, so I play the stox where having low commissions makes a difference. BRCD and EMLX you can (have to) play with smaller shares and still make a tidy profit, so I take it I shouldn't be around there. Maybe I am wrong and I should go there. I don't want to risk being without income for the time to find out if they are better or not though. "Originally posted by DATTrader Do you mean 1000 actual entries into a new trade!! That is mindblowing if so. What platform do you use? I find it relatively easy to get a SOES order filled in SUNW. Granted when it starts to print through a price level you might not get it at that instant, but 99% of the time additional MM's will come in to that price level before it prints to the next price level and you will get the fill. What kind of order do you usually use, ie a SOES limit at the current inside price, limit above/below, or market? What do traders at your firm who scalp SUNW look for? I would imagine they take large size looking for just a few cents?" No, I mean 500 entries and 500 exits. My record would be about 750 entries. That's a real workout I can tell you! We use a custom-made platform. At a bad or so-so price I can get as many shares on SOES as I want in an instant, that's true. But very often when I really want to get in (or out) I won't get filled even though my orders are live immediately. Almost always I use inside limits. Market if I NEED to get out at any price. Yes, most traders trade large size looking for a few cents.
Since most of the movement of these active stocks can be described as noise, how do you find 500 logical, reasonable entries in a day? What kind of net profit per trade are you getting, assuming there's any profit at all? (Does your broker gift you a Mazeratti or Rolls at Xmas?)
In the most simplest way: Futures go up, I buy. Go down I sell. Net profit per trade? like $2. (but I only get to keep a small draw, so no Mazzerati)
I'm sure he means $2 net after all profit and loss is figured. Still, thats an awful lot of trades, and I'm surprised there's any profit at all, unless you are paying like 1/4 cent a share to trade. Come to think of it, if all you do is buy some stock every time the spooz up tic (at a 500 rate , I know you're not being selective) then you'd be losing your shirt. Need a better description of how 500 trades a day , on a normal day can work for ya.