millennium strategy

Discussion in 'Strategy Development' started by quin8670, Mar 8, 2007.

  1. I have read on here people executing the "millennium strategy" out of swift's branches - is this strategy common knowledge or is it hush hush...

    Does anyone want to briefly explain the concept for curiosity's sake?
     
  2. It's a strategy that makes use of the millenium black book. First you create a basket of stocks and then send out small lot orders to scan for institutional buyers or sellers in the NYFIX Millenium ECN. Based on how you're filled, you can get an idea wether there is a institutional seller or buyer of that stock. The next step is to scalp massive lots in the direction you think the institution is transacting on NYFIX. My knowledge is rather rudimentary since I never used millenium as a primary trading strategy while trading at swift. It's a high risk strategy, I've seen traders make $5K on day and then be down $7K the next day. Millenium is also available on the Laser platform.