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dvegadvol, That sounds quite interesting. It always amazes me how large and complex the OTC market is and how the public and probably most govt. officials don't understand potential exposure and "fallout" from OTC derivatives. I think this industry is probably better to be self...

cashonly, Just a note on REDI+ software. REDI+ is mainly an order execution platform and should be used with a charting & analytic package like AT Financial,PC Quote(Hyperfeed),E-Signal or Bridge Data. As I have said many times, the trader is more important than the order execution...

GATrader, I don't have any experience with exotic options,knockouts and other products. Many of these exotic options are OTC(over the counter) and are written by Goldman, Citi-Bank and some large hedge funds. I traded and made markets in "plain vanilla" derivatives on the AMEX. Since...

Just a note. Depending on what you want to do, option trading software can cost between free and quite expensive. If you want to manually enter the stock volatility and the stock price, you can use free option software, go to my trader tools page at http://www.electronicdaytrader.com/tools.htm...

They are a Direct Access Broker(NASD) in Roslyn, LI and have been around quite a while. Paul Umansky(one of the principals) used to trade at Schonfeld. I believe they use Real Tick III for order execution software. See JPR website at http://jprcapital.com/...

freehouse, Spread orders(multi-leg) are sent to one exhange floor(for listed options) and are executed as a spread, manually on the floor. There is a "spread market" for option spreads made by Option Market Making firms or locals. To work a spread order is sometimes a lengthy process...

felichka, I would suggest you call the compliance dept. of Brookstone and ask about Brookstone's arrangement with Andover. On Brookstone's website , they say that they are NASD members and are probably subject to NASD rules and regulations for customer accounts. Brookstone does not...

No problem. I'd love to get together with you in NYC when you are here. Gene Weissman Lieber & Weissman Sec., L.L.C. gweissman@stocktrade.net

A note on multiple leg option orders(straddles,butterfly's etc). Correct me if I'm wrong, but to my knowledge, no autoex(automatic execution exchange system) will accept multiple sides of option orders and execute them at the same time. If you have a web based browser trading platform with...

felichka, It's very hard to comment on specific issues of individual firms unless you could see the firms L.L.C. agreement and funding arrangement. L.L.C.'s are similiar to partnerships in that funds are pooled and the class "B"L.L.C. (trading members) are trading partners of the...

felichka, As Don had mentioned Ron Shear runs Genaric Trading, L.L.C. and The Carlin Group(for customer accounts). Their web site is at www.carlingroup.com . Ron was a specialist in XMI (Major Market Index), when I traded on the AMEX in the 80's . Check out their website. They clear...

Just a note to all traders taking the test. I would suggest everyone only use study materials that are six months old or less. Daytrading(Pattern Daytrader) rules , for example ,have changed and other definitions may have changed in the last year. Don't be penny cheap and pound foolish. The...

Don , Robert & all Traders, Have a happy and healthy 2002. I will be off the boards until the new year....................... Gene Weissman Lieber & Weissman Sec., L.L.C. gweissman@stocktrade.net

hans130, I never meant that REDI+ is the same as the watcher, only that you can program keys and have a similar execution setup. If I program hotkeys on REDI+, I will get fast executions on ECN match's. The Watcher is an excellent platform for "scalpers" and I know that many traders...

Robert, I believe you are correct. Ed Seyota may made that statement in the book "Market Wizards". I think that statement makes more sense in these times than it ever did. Risk control and cash managment, make a true professional trader. Gene Weissman...

Pejman, Yes agreed. Leverage is to be used and not abused..... Gene Weissman Lieber & Weissman Sec., L.L.C. gweissman@stocktrade.net

Pejman Hamidi, While we advertise 10 to 1 intra-day margin, in reality all trading firms have "concentration" risk parameters. We ask daytraders not to carry more than 5 to 1 in one position (most of the time), unless the trader is experienced and put on a large position for a quick...

Vinny1, I believe you are correct on selectnet. You cannot(to my knowledge )send orders to SOES in the pre-market. Many of the ECN's are proactive. I believe ARCA is now proactive , but may not be proactive in the before and after hours markets. Call your introducing broker and see...

I would say you are correct. If you are a good "spreader" or "Vol. Trader", why be on the floor if there is no edge? The only reason to be on the floor is the floor margin. However, for Timber-Hill,Susquehanna, Hull and other big arb firms, having a trader in every crowd may give the firm an...

There are several reasons why option trading is very hard now and was easier years ago. There were no option models years back. No one knew what the "greeks" were and there was alot of option mispricing. You could lock in profits in arbitrage strategies like Conversions , if you knew what you...