Andover Trading

[momotrdr]

Originally posted by Speculator1929
I heard that Andover itself (not the franchised offices) stopped taking proprietary risk. They have a customer deal where you put up money, get 10 to 1 leverage, 97% payout and 0.007 per share. You are registered, but you get all your profits and losses, so really is a way around the day trading rules. Similiar to Bright. Customer in disguise. If the firm is not taking risk on your trading, only making on commission, no matter what they call it, I think you are a "customer" The only difference is your money is not SIPC and you have risk of being in an LLC.

I've interviewed at most all of the "prop trading" firms here in S.F. and I can say that I totally agree with you.

they aren't putting up a freak'n dime of their own money.

"Customer in disguise" is a perfect way of putting it.

 

[st0ckman]

andover is self clearing

 

[st0ckman]

I presently work at andover. i have worked all over nyc and long island in the past 8 years and have tried all the different platforms out there. The hammer system is by far the best i have used. the orders are super fast and i post bullets with one click of a button. i really have not found anything bettter.

 

[momotrdr]

Originally posted by st0ckman
I presently work at andover. i have worked all over nyc and long island in the past 8 years and have tried all the different platforms out there. The hammer system is by far the best i have used. the orders are super fast and i post bullets with one click of a button. i really have not found anything bettter.

Hi stOckman-

Could you please define "bullets"
I'm familiar with the term in trading, however, I'm confused in this context.. or maybe I know and I just confused myself again..


tia-

momo

 

[VOLUME]

A bullet is an "artificial long". Buying a bullet allows you to hit bids on a downtick.

 

[OVERtheLINE]

you keep talking about your millions in the firm...
I heard you lost it all it the ge/ honeywell pair trade?????????

 

[Newatthis]

A bullet is NOT an artificial long. It is a synthetic call. But that lesson is for another thread, another day. If you weren't truly long, then you could not sell stock legally on a down tick.

 

[Magna]

Originally posted by momotrdr
Could you please define "bullets"

momotrdr,

There has been countless discussions and explanations of bullets on Elite, simply do a little DD by clicking "Search" in the upper right.

 

[Magna]

Originally posted by momotrdr
Could you please define "bullets"

momotrdr,

There has been countless discussions and explanations of bullets on Elite, simply do a little DD by clicking "Search" in the upper right.

 

[xtrader]

on GE/HON.

In the millions? YES

You won't see Don or Bob touting those strategies (losses).