Sounds like someone who hasn't used THE HAMMER!!! And now you can add Echopoint to the list of nickel and dime charges that they'll hit you for.
You're right, haven't used it. Went to a pretty cool looking office in Chicago called Spike (an Andover sub-group or something) and watched guys trade on it, looked like a Watcher type clone when I saw it (this was two years ago at least, I'm sure it must have improved since then). At the time they offered guys a choice of Hammer and Redi Plus, and I saw a lot more Redi Plus logins than Hammer ones when I was there (I'm sure Don will get some mileage out of that comment ), maybe someone can clarify the true stats that knows that office. Sat with some guys there who were trading on it for half a day, from what they told me the Nasdaq scalpers loved it, anyone trading a lot of stocks at a time that I talked to was frustrated with it. At the time it didn't have charts and most of what you had to do with it was keystroke driven, a lot of guys said it took them a month or two to really get good at entering and replacing orders on it (which is what also brings up the Watcher comparison). Is this still the case? (Put your promo here, a long time has passed since I saw it and I'd like to know actually). I know there are a lot of Andover recruiters here, and I don't want to get flamed for making a derogatory comment about it, so in all fairness some of the Nasdaq scalpers I talked to there who were past the keystroke learning curve liked it. That just isn't the way I trade so it wouldn't have worked for me. One of the guys trading there also was complaining that at the time they were not letting him do conversions, they would make him buy bullets everyday instead. He liked to trade the same stocks everyday and eventually left. I have always wondered if that is a policy there or if maybe he just didn't have enough funds in his account or what the deal with that was, if you can I would appreciate if you can tell me if they do in fact allow conversions and/or options trades there or not? Maybe it was just Spike and not Andover? Don't know. I have always wondered and never asked since, if you know the answer I'd like to know. In all fairness, why shouldn't they? It's not the trading software, which is free (for me at least), it's an optional piece that they developed that gives real-time stock entry points. I've never used it so I can't comment on how good it is, stuff like that never does much for me, but I think it's pretty good that they are offering things like that to their traders and if some guy wants to elect to pay $95 or whatever it is to get an additional piece of software that helps him trade then good for him. I think the bottom line is, other firms aren't doing it even for free. If other firms were doing it and giving it away, well than that is different. But no one else even has this kind of stuff that I know of except for Pristine trading and they also charge for it. I say Kudos for Echo for allocating resources to develop more tools in a cruddy market.
-Is Green tree trading is the only propreitery firm, that accept retail account with 10x times leverage given to them? does any other broker offer this service for retail traders? -Does their server ever go down or slow, and waiting for respone at trading desk? - If i use 5xtimes leverage, what you mean that i get 85% payout? does it mean that they hold 15% of my profit or I have to give them 15% to them? If so, then why again charge 1% monthly interst (12% anually) for the leverage used? Btw, what is website address for "Shill Securities"? I cant find it.
I saw this snapshot on Raschke's website and I was wondering if this a part of a bigger piece of trading software or if is just as it is named: http://www.lbrgroup.com/index.asp?page=DailyCharts&date=2003-01-14 Thanks, RPC
No one is going to Flame you. And as far as Andover recruiters, it was just one idiot and I don't think we have seen him around anymore. Any other comments about hammer, etc. are from satisfied traders that are simply voicing their opinions. Like some of us that have traded with Echo and now Andover have said, we simply prefer Hammer. I don't know what it was like 2 years ago, but I only trade listed and I can't imagine ever going back to Sterling or something else. Nothing against Echo. But then again didn't someone pretty important just leave the company to go over to the Hammer? Chris, I use E-signal. We got a deal....so I am not going to discuss pricing here. We switched a couple weeks ago when our office quit AT. At the time it did not link to Hammer. Well it took 2 weeks for the programers to create a link and I can't tell you how well the two work hand in hand. Dailys and intraday charts pop up the second I change my order entry. MUCH faster than AT. Eventually Hammer will have a charting program, but no promises have been made as to when it will happen. By the way, does Sterling have Dailys and open book yet? I only ask b/c it kept being promised and delayed month after month last year. Good luck to all.
who's chris? echopro has changed greatly since you left almost a year ago. and yes, echopro has daily and intra-day charts that link to order entry montages. but there is no extra charge like having to pay for e-signal or AT. and yes we have had open book for a long time now. is andover considering charts for hammer...are you complaining to them about how long it has taken just to get something that elementary. i asked lescor what he uses for charts. i could be wrong but isn't he a first alert user....that's an extra $400 to $500 isn't it. personally i will pay $95 and get the filtering that i prefer based on chart recognition. i have heard very good things about hammer but it has come from a high percentage of nasdaq traders. the way i trade and have echopro set up i guarantee i will pick off a listed ecn before 90% of hammer guys know there was a trade to be made.
Sorry, for some reason I thought your name was chris. Was it in your old handle? Anyways, go ahead and believe your listed ECN theory, our office got a REAL big laugh out of that one, seriously very funny. There is no reason to get into this, like you said it has been a year, sounds like they made the necessary adjustments. Good luck with your trading.