A Note from Andy Waldock
Commodity Trader, Broker & Money Manager
My name is Andy Waldock, and I have been involved in the futures industry my entire adult life. My firm, Andy Waldock Trading, is the merger between my brokerage business at Commodity and Derivative Advisors and my publishing commodity trading advisor, COT Signals. We are a full-service brokerage firm located in Sandusky, Ohio.
Admittedly, Sandusky is not the hub of the U.S. economy. However, it was home to one of the largest retail brokerage firms – Lind-Waldock – of which my father, Jack Waldock, was a partner.
I grew up in Sandusky watching and learning from my father. Just two weeks after my eighteenth birthday, I began my career at 5:30 AM C.S.T. reconciling trades on the floor of the Chicago Mercantile Exchange.
Working for Lind-Waldock allowed me to move from one market’s open to the next – currencies, meats, stock indices – and rotate backwards for the closes. During my three years of clerking, I was able to learn the ins and outs of customers’ order routing, execution, and processing. I was eager to learn everything about trading, and I wasn’t afraid to dig deep.
At 21, I began trading for my own account in the S&P 500 pit. Over the next several years, my relationships branched out into executing orders at the retail and institutional level.
Two moments from these early years are worth sharing because they helped shape my values as a trading advisor.
First, after a particularly grueling day early in my career in the S&P 500 pit, I sat down in the members’ break room. My frustration must have been written all over my face, because one of the old blackboard traders, Bill Katz, sat down next to me and asked, “Did you bust out?” I told him that I hadn’t, but that I just felt like I was spinning my wheels and didn’t see anything changing. He shared with me the most concise and irrefutable law of trading: “As long as you get to trade tomorrow, you’re still in the game.” I realized then that I’d never give up, that trading is a long-term endeavor, and that experience had much to teach me.
The second moment came after I had (kind of) earned my place in the pit. On a slow day, after many of the traders had already left, I was standing next to a guy who was normally two or three bodies away. We had traded next to each other for three or four years and were making casual conversation when he looked at my badge, which said “ADOC.”
“Hey, are you any relation to Jack Waldock?” he asked, seemingly very surprised. I told him that, “Yes, Jack was my father.” He was shocked to find that – in a world of self-important traders – he had been standing so close to the son of the largest retail broker for years and never known it. While I was proud of my father and of my own work, I just wasn’t the type to brag or use my name that way.
In 2007, I started Commodity and Derivative Advisors, which later became Andy Waldock Trading. Since that time, my work has focused on data analysis and developing a unique system to plan investments, which I now offer as COT Signals and which I use in my brokerage and for my own trades.
To run a successful family business requires many long hours, a lot of sweat, and even sometimes tears. There are moments of deep humility. But there are also moments of pride in service. I’ve tried to remain true to my midwestern roots. I won’t do a trade for my managed accounts that I’m not also risking my personal money on. In fact, most of the time, I’m trading for both simultaneously. Next time your broker calls you with a trade, ask them if they’re doing the trade for themselves… and listen to the dead air.
After 26 years of making sure I’m doing things right, I’m confident in what Andy Waldock Trading has to offer.