Andre (Mar 11, 2004 4:33:55 PM)
Today we're pleased to welcome David Graff to the Elite Trader Chat Room.
Andre (Mar 11, 2004 4:34:04 PM)
Dave is a partner at STAT Capital LLC. Currently, most of his trading day revolves around making markets on the CBOT mini-sized Dow futures, mini-sized Dow Options and U.S. Dow Jones Total Market Index (TMI) futures - which all trade 100% electronically.
Andre (Mar 11, 2004 4:34:22 PM)
Stat Capital also trades several other index products along with equities, options and warrants. Dave has traded these on the floor and off, and today we're going to benefit from his wide range of market activity.
Andre (Mar 11, 2004 4:34:31 PM)
Today, Dave will talk about his experiences in trading and market making and how his floor trading experience has helped him be a better electronic trader. He will also talk about some of the techniques his firm uses to trade and what it's like to help an exchange launch new products and to make markets in them.
Andre (Mar 11, 2004 4:34:40 PM)
Dave, welcome. Thanks for joining us!
Dave Graff (Mar 11, 2004 4:34:54 PM)
Thanks, Andre
Dave Graff (Mar 11, 2004 4:35:22 PM)
Today was a pretty rough day
Dave Graff (Mar 11, 2004 4:35:33 PM)
I thought I’d start today with a brief history of my trading experience.
Dave Graff (Mar 11, 2004 4:35:50 PM)
My first floor trading experience was in soybean options and let me tell you it was baptism by fire. I started trading in the fall of 1987 and there was a drought that following spring. I really was just learning to trade and I had to learn and incredible amount in a very short time.
Dave Graff (Mar 11, 2004 4:36:24 PM)
October of that year was the stock market crash. The firm I was working with was also managing a large index option fund and had to call me back to help them. Although I have seen many volatile scenarios afterwards, that first year prepared me for the rest of my trading career.
Dave Graff (Mar 11, 2004 4:36:47 PM)
Since then I have traded options and futures on every trading floor in Chicago.
Dave Graff (Mar 11, 2004 4:37:03 PM)
In 1993, I started my migration to electronic trading. I went to work for a hedge fund that primarily traded index arbitrage. We traded baskets of stocks against options and futures contracts. This was my introduction to electronic trading. The stock hedge was executed through an electronic system that sent the orders to the floor of the NYSE. The execution systems I use now are much faster and more advanced.
Dave Graff (Mar 11, 2004 4:37:44 PM)
For the next five years I split time between the floor and off floor trading.
During that time the hedge fund I was with became an investment advisor for a bank and we used our knowledge of index products to create and manage a large cap and small cap index funds for them. The original investments in the funds were about $20 million dollars and eventually grew to nearly $500 million.
Dave Graff (Mar 11, 2004 4:38:38 PM)
By 1998 I completed my transition to off floor trading. I then concentrated on index arbitrage, risk management for the group’s option traders and management of the banks index funds.
Dave Graff (Mar 11, 2004 4:39:29 PM)
In early 2000 I joined a new firm where I met one of my current partners, Jim Gosselin. I was given the opportunity to start an index arbitrage desk. We traded baskets of stocks and ETFs (exchange traded funds) against index futures. I was responsible for 9 traders and their staff. We traded between 1,000,000 and 2,000,000 combined shares of QQQ, SPY and DIA every day.
Dave Graff (Mar 11, 2004 4:40:23 PM)
That firm ended up being sold so Jim and I partnered up with a few other traders and started STAT. We began by making markets on ETFs and equity options and then worked our way into futures and warrants.
Dave Graff (Mar 11, 2004 4:41:25 PM)
We were approached by the Chicago Board of Trade to see if we could help them with their new electronically traded Dow Mmini-sized Dow contract. At the time the contract was trading about 8,000 contracts a day and had a comparatively wide bid ask spread to other similar products.
Dave Graff (Mar 11, 2004 4:42:39 PM)
With a combination of third party software and our own programming we began making markets based on a complex set of trading rules that brought together our experience as floor traders and our expertise in electronic markets.
Dave Graff (Mar 11, 2004 4:43:08 PM)
Within weeks we were able to bring the bid ask spread down to a respectable width and now it is the narrowest among index futures. The average daily volume in the Dow mini-sized Dow is now around 60,000 to 70,000 and growing
Dave Graff (Mar 11, 2004 4:43:46 PM)
We have been successful using similar trading technique in other products. February of this year the CBOT started trading Dow mini-sized Dow Options and TMI futures. We were given the opportunity to make markets in these products as well and have been since the first day of trading.
Dave Graff (Mar 11, 2004 4:44:29 PM)
I feel the Dow mini-sized Dow Options have an extraordinary chance of becoming a premiere index option contract. For those of us who like to trade electronically it has the tightest spreads and the fastest execution because it is a pure electronic contract. The orders don’t have to go to the floor of an exchange.
Dave Graff (Mar 11, 2004 4:45:20 PM)
The TMI futures are exciting because they cover US small, mid and large cap markets in a single futures contract. TMI futures are currently the largest electronically traded US stock index futures with a contract value of approx. $135,000. Tick size is $25.
Dave Graff (Mar 11, 2004 4:46:34 PM)
At STAT one of our strategies is to look for relationships between different products and try to identify the leader in a group and how its price movement can help us predict movement in others in the group. Once we accomplish this and back test it we start to trade it by hand so we can get a better understanding of the nuances in that particular trade.
Dave Graff (Mar 11, 2004 4:47:43 PM)
We have a trader and a programmer trade together for a while and then we start the process of automation. We define our risk parameters and write the rules that we feel give us an opportunity to be profitable. Many of our trading algorithms are modifications of algorithms already in production. As market conditions change and as new products become mature we usually have to revisit our rules and modify them.
Dave Graff (Mar 11, 2004 4:48:59 PM)
The trading arena is extremely dynamic and traders need to adapt to the market. The ways we make money trading today are not always going to work, so as I’m watching our trading platform with one eye, I am looking for opportunities in other markets with the other.
Dave Graff (Mar 11, 2004 4:50:41 PM)
When the CBOT asked us to participate in their market-making program we thought that we could use some of these techniques to help us make markets. Our first thought was ok we have a not so liquid contract what can we do to change that. Our philosophy was to take liquidity from other areas and transfer it to the product we would make markets in.
Dave Graff (Mar 11, 2004 4:51:22 PM)
Once we added enough liquidity the traders would come and the product itself would generate its own liquidity and continue to grow. The mini-sized Dow is the perfect example.
Dave Graff (Mar 11, 2004 4:51:46 PM)
Yesterday was the first time it traded over 100,000 contracts and we were very proud that we had a big part in the contract getting there. Since we started making markets we have been between 5 and 15 percent of the volume every day.
Dave Graff (Mar 11, 2004 4:52:24 PM)
Another strategy we use is more of a technical type trade. One that looks at the trading vehicles own dynamics and like a chartist decides when it has crossed into a buy or sell range.
Dave Graff (Mar 11, 2004 4:52:52 PM)
Unlike the “leader of the group strategy” this one has relatively large profit and loss swings. In our back testing we saw that if we were patient it would be profitable for us. The hard part was learning to be patient because our other successful trades were very high frequency.
Dave Graff (Mar 11, 2004 4:53:36 PM)
In the mini-sized Dow we may be in and out of 5 to 10 trades in a minute. This strategy duration could be for hours. That is eternity in arbitrage land. Like I said most of our trading very short term. It is a way for us to control risk. Our algorithms have built in risk mechanisms to keep us from too much exposure.
Dave Graff (Mar 11, 2004 4:54:44 PM)
The last few days I have been more involed with our mini-sized Dow options
Dave Graff (Mar 11, 2004 4:55:57 PM)
We have been making markets on them since early Feb and they need a lot af attention with the volitility.
Andre (Mar 11, 2004 4:56:38 PM)
Great, Dave... thanks for laying out what you do.
Dave Graff (Mar 11, 2004 4:57:08 PM)
I would welcome any questions
Andre (Mar 11, 2004 4:57:16 PM)
We've got them.
Andre (Mar 11, 2004 4:57:28 PM)
Let me start out.
Andre (Mar 11, 2004 4:57:36 PM)
Dave, can you give us an example of a leading indicator from sector and how you might use that to take a position in a different sector?
Dave Graff (Mar 11, 2004 4:59:32 PM)
We watch the size of the bids and asks and the depth of market. Also we recognize that if the leader moves in one direction we can expect a simular type move in our target trade
Dave Graff (Mar 11, 2004 5:01:37 PM)
These are short term moves and we are your typical scalper. We are going to buy or sell the target andd then try to get out when leader tells us to
nitro (Mar 11, 2004 5:02:44 PM)
Can you given an example of one trade that you made in this manner?
Dave Graff (Mar 11, 2004 5:02:57 PM)
Sure
Dave Graff (Mar 11, 2004 5:04:21 PM)
We are looking at the mini Dow andthe TMI contract for instance
Dave Graff (Mar 11, 2004 5:04:42 PM)
Dow is the leader because of its liquidity
Dave Graff (Mar 11, 2004 5:04:53 PM)
the target is the TMI
Dave Graff (Mar 11, 2004 5:05:37 PM)
we use a price correlation that constantly re evaluates thir relationship
nitro (Mar 11, 2004 5:06:02 PM)
How often?
Dave Graff (Mar 11, 2004 5:06:24 PM)
when the dow bid starts to fade we wil hit the TMI
Dave Graff (Mar 11, 2004 5:06:34 PM)
every 60 seconds
nitro (Mar 11, 2004 5:06:48 PM)
I mean, how often do you reevaluate - once a day, once a second?
Dave Graff (Mar 11, 2004 5:07:10 PM)
every 60 seconds we reevaluate
Guest (Mar 11, 2004 5:07:57 PM)
Dave , does the exchange offer long term options on the dow also?
Dave Graff (Mar 11, 2004 5:08:01 PM)
it is important to look at the size of the bid and ask
Dave Graff (Mar 11, 2004 5:08:32 PM)
we need to have some size in order to make a trade
Dave Graff (Mar 11, 2004 5:09:34 PM)
it showsignificance
mavo (Mar 11, 2004 5:10:01 PM)
What do you mean by movin liquidity from 1 MKT to another ? how do you do that operation ?
Dave Graff (Mar 11, 2004 5:10:54 PM)
Lets say I uses the dow prices to generate DIA etf prices
Dave Graff (Mar 11, 2004 5:11:28 PM)
I take the very liquid Dow futures and make a market in the DIA
Dave Graff (Mar 11, 2004 5:12:04 PM)
when iI get hit or taken in the DIA I hedge in the Dow futures
Dave Graff (Mar 11, 2004 5:12:52 PM)
what I did was transfer liquidity from the Dow futures to th DIA
mavo (Mar 11, 2004 5:13:09 PM)
so youd have a larger spread in the Dia
Dave Graff (Mar 11, 2004 5:13:20 PM)
Yes
Dave Graff (Mar 11, 2004 5:13:27 PM)
good question
Dave Graff (Mar 11, 2004 5:14:21 PM)
If i am willing to take spread risk I can do this with any two products
ruben (Mar 11, 2004 5:14:58 PM)
What is the liquidity of the mini Dow compared with the liquidity in the e mini S&P?
Dave Graff (Mar 11, 2004 5:16:06 PM)
It is not as deep but the bid ask spread is only $5 vs $12
Ackxhpaez (Mar 11, 2004 5:16:42 PM)
Since you're constantly offsetting all of your market-making positions, are you looking to make a profit when market making or just limiting your losses?
Dave Graff (Mar 11, 2004 5:16:46 PM)
At times I can do 200 to 300 3 tick deep
Dave Graff (Mar 11, 2004 5:17:03 PM)
the size is growing every day
Dave Graff (Mar 11, 2004 5:17:45 PM)
Im always looking for profit
Dave Graff (Mar 11, 2004 5:18:17 PM)
I do use some other strategies along with market making that help
Andre (Mar 11, 2004 5:18:23 PM)
You mean you won't up the market out of the goodness of your heart?
Dave Graff (Mar 11, 2004 5:18:30 PM)
yes
Andre (Mar 11, 2004 5:18:40 PM)
::laughs::
Andre (Mar 11, 2004 5:18:49 PM)
Dave, we've got some systems questions...
Nana Trader (Mar 11, 2004 5:19:01 PM)
Are these strategies recommanded for avarage traders like me, since needs very accurate timing and quick excutions?
Dave Graff (Mar 11, 2004 5:19:19 PM)
If the market get volitile I will increase my bid ask spread and lower my size
Dave Graff (Mar 11, 2004 5:20:22 PM)
I think you can use a variation of them
mavo (Mar 11, 2004 5:20:47 PM)
do you actualy hand make these operations ? I mean most QQQ NQ and ES SPy spreads are Automated fully ...
Dave Graff (Mar 11, 2004 5:21:27 PM)
When we trade ETFs they are 100% automated
PuffyGums (Mar 11, 2004 5:21:58 PM)
What are the basic artificial intelligence techniques that you use? Rules based expert systems? Genetic algorithms? Nerual Nets? Some math model?
Dave Graff (Mar 11, 2004 5:23:15 PM)
Combination of math models and rules based
PuffyGums (Mar 11, 2004 5:24:38 PM)
Do you use human decision making to switch between systems or to override or stop systems?
Dave Graff (Mar 11, 2004 5:24:49 PM)
absolutly
Andre (Mar 11, 2004 5:25:31 PM)
Can you give us a percentage of how much is automated, and how many time you jump in and trade in manually?
Dave Graff (Mar 11, 2004 5:25:34 PM)
95% of our initial trades are auto 70% auto
Andre (Mar 11, 2004 5:25:43 PM)
There you have it!
Dave Graff (Mar 11, 2004 5:25:53 PM)
70% are auto out
Andre (Mar 11, 2004 5:26:04 PM)
Folks... we're capping questions at this point. Dave's got to take off in 15 minutes, and we've got plenty.
ruben (Mar 11, 2004 5:26:10 PM)
Dave , some brokers offer open an account with $3000.00 ,Do you think that with an equity of $3,000.00 and the liquidity of the mini dow there are a real expectation of success ?
Dave Graff (Mar 11, 2004 5:27:15 PM)
I think the best traders are well capitalized
BobbyMurcerFan (Mar 11, 2004 5:28:40 PM)
Watching the market today, it looked like a battle between the Dow and the NAZ with the S&P declaring the Dow the winner most of the day. Do you agree with this assement that moves generally happen FIRST in either the YM or NQ and then the ES moves? I've heard the the YM tends to lag the other two minis, but I just don't see that happening much.
Dave Graff (Mar 11, 2004 5:29:57 PM)
No iI think that every dog has his day.
Dave Graff (Mar 11, 2004 5:30:55 PM)
because the Dow and the NQ have fewer stocks the have a ability to move faster
BobbyMurcerFan (Mar 11, 2004 5:32:00 PM)
Do you ever use movement in certain underlying Dow stocks as a harbinger of YM movment?
Dave Graff (Mar 11, 2004 5:32:16 PM)
with 500 stocks in the basket will move slower than the other bskets
Dave Graff (Mar 11, 2004 5:33:02 PM)
Yes
sandman (Mar 11, 2004 5:33:14 PM)
I noticed in the last two weeks that I had a hard time getting a fill between bid and ask in nearlly all equity index options (ndx,rut,sox,spx,etc)---a sudden change in MMs' attitude. Do you know this also happens to futures index options?
Dave Graff (Mar 11, 2004 5:34:19 PM)
When the market get volatile MMs dont like to give up edge
Dave Graff (Mar 11, 2004 5:34:45 PM)
in index options I thin you have a bettr chance of gettin filled
windsurfer (Mar 11, 2004 5:35:03 PM)
Dave, tell me about djx spreads- last i looked about 4 weeks ago, i did better with oex because individual traders there often put orders in the middle of the MM spread. Is the DJX better for spreads now? also, is margin better on the djx for option writers?
Dave Graff (Mar 11, 2004 5:35:31 PM)
there are so many flavors of index options and MMs can spread between products so they are more willing to trade
Dave Graff (Mar 11, 2004 5:37:08 PM)
The mini-dow Options wich are pure electronic are 5 times the size of the djx and at most times only 5-7 points wide
Andre (Mar 11, 2004 5:38:43 PM)
Jyst a few more folks...
nitro (Mar 11, 2004 5:38:55 PM)
How far into the book do you go? Or is this just the size on the B/A ?
Dave Graff (Mar 11, 2004 5:39:38 PM)
we usually just look 2 deep into the book because after that I dont trust what I see
nitro (Mar 11, 2004 5:39:50 PM)
How often are _you_ picked off instead of the other way around?
Dave Graff (Mar 11, 2004 5:40:05 PM)
a lot of arb traders put orders in but they move them fast
Dave Graff (Mar 11, 2004 5:40:20 PM)
often
Dave Graff (Mar 11, 2004 5:40:30 PM)
but that is good for you
Dave Graff (Mar 11, 2004 5:40:43 PM)
I make it up in volume
PuffyGums (Mar 11, 2004 5:41:02 PM)
How does your system handle fake size orders showing up in the book?
Dave Graff (Mar 11, 2004 5:42:21 PM)
We need movement aloong with size to make a trade
Dave Graff (Mar 11, 2004 5:42:38 PM)
we wont act alone on size
Dave Graff (Mar 11, 2004 5:42:50 PM)
it has to trade
Andre (Mar 11, 2004 5:43:05 PM)
Dave, I know you have to take off...
Andre (Mar 11, 2004 5:43:18 PM)
Thanks so much for joining us today.
Dave Graff (Mar 11, 2004 5:43:33 PM)
Thank you
ruben (Mar 11, 2004 5:43:39 PM)
thanks
Dave Graff (Mar 11, 2004 5:43:54 PM)
I hope I gave some insight
Andre (Mar 11, 2004 5:44:00 PM)
You bet.
Andre (Mar 11, 2004 5:44:02 PM)
However, Mark from Advanced Futures and Barbara from CBOT will remain to answer any questions you may have.
Dave Graff (Mar 11, 2004 5:44:16 PM)
I would be happy to come back anytime
Andre (Mar 11, 2004 5:44:23 PM)
We'll be glad to have you.
Andre (Mar 11, 2004 5:44:33 PM)
Mark you have some words, don't you?
Mark Hyman (Mar 11, 2004 5:44:36 PM)
Thank you Dave
Dave Graff (Mar 11, 2004 5:44:47 PM)
Your welcome
Andre (Mar 11, 2004 5:44:56 PM)
And we do have some systems questions that Barbara and Mark can answer, I'm sure.
Andre (Mar 11, 2004 5:45:06 PM)
You first, Mark.
Mark Hyman (Mar 11, 2004 5:46:30 PM)
I feel the CBOT $5 mini dow is a great product for the beginner trader to an experienced trader. We have more and more traders who are switching to the dow from the mini S & P
Andre (Mar 11, 2004 5:47:33 PM)
Tell us about trading through Advanced Futures, Mark.
Mark Hyman (Mar 11, 2004 5:47:57 PM)
Advanced Futures, who is now a division of Goldenberg, Hehmeyer & Co. offers
Mark Hyman (Mar 11, 2004 5:50:10 PM)
i lost my connection
Andre (Mar 11, 2004 5:50:31 PM)
But you're back now..
Mark Hyman (Mar 11, 2004 5:50:38 PM)
Af has account minimums as low as $2,000 with $500 margin
Andre (Mar 11, 2004 5:51:28 PM)
Are you running any special offers regarding the mini Dow, Mark?
Mark Hyman (Mar 11, 2004 5:51:53 PM)
I would recommend a trader or experienced trader to go to the new CBOT website
Nana Trader (Mar 11, 2004 5:53:42 PM)
Are there as good or better trading Plateforms than X-trader that available to public? and how can small traders binift from X-trader if they need to trade several markets considering paying additional $250 for each exchange?
Mark Hyman (Mar 11, 2004 5:53:43 PM)
I can give Elite Traders $1.00 Round Turn off most of their account levels for the next 2 months. In the next few weeks we will have a simulator to trade the mini dow. You will be able to paper trade and see how exciting this product is.
Andre (Mar 11, 2004 5:54:12 PM)
That's great Mark... sorry I jumped the gun.
Mark Hyman (Mar 11, 2004 5:55:13 PM)
Right now we offer the J-Trader and Strategy Runner platforms also. I would start on these platforms since the X_Trader is a little expensive when you do not do much volume.
Guest (Mar 11, 2004 5:55:42 PM)
What is the frequency of Electronic failure of the CBOT system ?
Diode (Mar 11, 2004 5:56:22 PM)
Mark, it was great getting a chance to speak with you in New York. Do you have any customers that are using X_Trader's API, and any comments about getting involved with their developer program, or do we need to contact Trading Technologies directly?
Mark Hyman (Mar 11, 2004 5:57:54 PM)
You can call me and I can put you touch of the person to speak to or you can call them directly. Look in the next few months as both the J-Trader and Strategy Runner will have new versions.
Mark Hyman (Mar 11, 2004 5:59:09 PM)
We have many people switching to the Strategy Runner, it has charting included and also has bracket trading and trailing stops.
Andre (Mar 11, 2004 5:59:48 PM)
You can find our Chat with Strategy Runner in the http://www.elitetrader.com/ch/index.cfm
Mark Hyman (Mar 11, 2004 5:59:51 PM)
To learn a lot more about trading the mini dow, go to www.cbot.com
ruben (Mar 11, 2004 6:00:12 PM)
Mark , I asked to Dave the real expectations of success with an account of $3,000.00 , What do you think about it ?
Mark Hyman (Mar 11, 2004 6:01:49 PM)
I feel if you approach it in the right way and become fully educated about it. i know some of the largest traders starting trading with low account balances and 100 shares or 1 contract.
Andre (Mar 11, 2004 6:02:17 PM)
It's not impossible.
Mark Hyman (Mar 11, 2004 6:02:22 PM)
You are welcom to call or email me anytime
Andre (Mar 11, 2004 6:02:41 PM)
But gosh it's hard to trade without capital.
Andre (Mar 11, 2004 6:03:04 PM)
Folks, there comes a time when we simply have to let our guests go. And that time has come. Mark... thanks so much for joining us today.
Mark Hyman (Mar 11, 2004 6:03:16 PM)
Your Welcome
Andre (Mar 11, 2004 6:03:26 PM)
And thanks for making this happen.
Andre (Mar 11, 2004 6:03:36 PM)
And while this chat session may have ended, the discussion doesn't have to. For additional questions and comments, please see the following thread on our message board: http://www.elitetrader.com/vb/showthread.php?threadid=29582
Andre (Mar 11, 2004 6:03:50 PM)
To find out more about trading the mini Dow and other CBOT products via Advanced Futures, please go: http://www.advancedfutures.com
Andre (Mar 11, 2004 6:03:59 PM)
We will have a log posted soon at: http://www.elitetrader.com/ch/index.cfm
Guest (Mar 11, 2004 6:04:09 PM)
tnx
Guest (Mar 11, 2004 6:04:11 PM)
Thanks
BobbyMurcerFan (Mar 11, 2004 6:04:18 PM)
Thanks much.
ruben (Mar 11, 2004 6:04:42 PM)
thanks
Mark Hyman (Mar 11, 2004 6:05:00 PM)
Elite Trader is one of the best places to interact with traders!
Andre (Mar 11, 2004 6:05:11 PM)
The chat room is now open for general chit chat.
Diode (Mar 11, 2004 6:05:29 PM)
Thanks to Dave, Mark and Andre! Always something new to learn...
Nana Trader (Mar 11, 2004 6:05:45 PM)
since you have quoted rates for CME mini contracts in your website? what your commision & clearing structure for all products works like?
Mark Hyman (Mar 11, 2004 6:06:49 PM)
We are working on putting the other electronic markets that are traded also in our commission pricing
Nana Trader (Mar 11, 2004 6:08:51 PM)
Do you have flexibilty for Initial deposit needed on different levels or they are negotiable?
Mark Hyman (Mar 11, 2004 6:10:05 PM)
Our lowest initial deposit is $2,000. Our other account minimums are $10,000. but..
Mark Hyman (Mar 11, 2004 6:10:46 PM)
I have given many Elite Traders the $10,000 account level and pricing with at least $5,000
Diode (Mar 11, 2004 6:11:29 PM)
re Strategy Runner: Anna has a great product there. Unfortunately, the added commission costs seem to rule it out for my current system, as I'm operating on fairly thin profits per contract. How many customers do you have on Strategy Runner now?
Diode (Mar 11, 2004 6:12:13 PM)
(sorry for interrupting)
Nana Trader (Mar 11, 2004 6:14:05 PM)
Do you have IM or instant messenger for online tradedesk incase system down, or tech question considering many foreign trader who trade from overseas can't call for every small issues?
Mark Hyman (Mar 11, 2004 6:14:08 PM)
I do not know exact number, but we are having more and more everyday. It cost about $1.00 more than the J-Trader
Mark Hyman (Mar 11, 2004 6:15:46 PM)
Goldenberg, Hehmeyer & Co. has a 24 hour order desk with offices in Chicago, New York and London. Their service is top of the line. They have some of the largest traders in the world.
Mark Hyman (Mar 11, 2004 6:16:40 PM)
We have many international traders
Nana Trader (Mar 11, 2004 6:16:54 PM)
No, I meant to say somthing like online chat help, instead of calling over the phone every time?
Nana Trader (Mar 11, 2004 6:17:20 PM)
using IM messenger, Yahoo messenger, ...etc
Mark Hyman (Mar 11, 2004 6:17:40 PM)
They are in the process of doing their website over, which should include these services.
Nana Trader (Mar 11, 2004 6:18:59 PM)
thanks
Diode (Mar 11, 2004 6:19:25 PM)
Looking at your fee schedule it looked like a $3.00 premium to X_Trader or J-Trader at higher volumes - is that table up to date?
Diode (Mar 11, 2004 6:22:15 PM)
Actually, you've removed the monthly quotas from most of the account levels since last time I looked; I remember I was targeting the "Professional" volume.
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