Paul Redmond
Age: 28
Firm: Rooster Trading
City: London
Trades:
DAX futures
Trading up TO 4,000 lots a day in the fast-moving
DAX futures market, Redmond is quickly cementing his legend. Raised in Iraq, he later moved to Ireland. He started at Dublin’s Geneva Trading in September 2001, deftly handling the frenzied post-9/11 equities market and earning the sobriquet “The Rooster” for his cocky behavior.
The following spring, he switched to the
DAX and began steadily increasing his volume from four lots per trade to 4,000 lots per day, which market participants say is exceptional. Now based in London, Redmond runs his own three-member firm and reportedly rakes in as much as $20,000 a session.
He has also begun training younger traders, teaching them how to manage the enhanced risk that comes with sizable positions — risk, he says, that his youth helps him handle. “When you’re young, you’ve got nothing to lose,” he says. “You’ve got no kids. You can start again.” Given his performance so far, though, we doubt he’ll need to do so.