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I'll assume you were just trying to be helpful, and not 'spinning'. However, many traders do opening orders in retail accounts, including some of the best traders that post in the OPG thread, FYI. (Interactive brokers is almost ideal for retail OPG trading for many reasons, FWIW, but Genesis...

Exactly. This is among the first things you posted on this thread: "whereas it seems most people here are trying to test their trading prowess by setting high goals for their accounts, i'm simply hoping to survive." If this is true, and you are seeking to survive (and ultimately become...

Interesting idea. I suspect that it must be illegal in some way, but I'd sure like to hear how/why.

I think people should trade whatever interests them, and you should not change your trading plans based upon what others suggest to you. You need to find your own way. That said, is there any reason why you would not want to start by trading the SPY instead? It will move exactly the same, and...

I should probably point out a conflict of interest that many daytrading brokerage firms have. A brokerage firm makes money off of commissions, as well as any interest that they charge in the form of margin or 'haircut' to allow traders to hold larger positions than their cash balances would...

You make another very good point regarding a downside of trading the ES futures for a beginning trader. The losses can add up very quickly. It's been a long time (~4-5 years) since I traded the ES, but at that time, a 1.0 point move in the ES was worth $50 (not $100). Maybe it's changed...

You need to go with what makes you comfortable. However, I would typically discourage beginning traders from trading the ES. I believe the ES is one of the most liquid, efficient markets available for trading. And since most traders make money by attempting to exploit inefficiencies they...

Fixed costs: Don't be afraid to spend $100-300 per month in fixed costs. I know many successful traders, for example, that pay for eSignal charting. Watch the market every day, during virtually every minute of the day. Look for patterns, watch the news stocks, and the stocks that are...

Congratulations and best of luck in your new 'career'. I've been a fulltime and successful trader since 1998 and can honesty say that I never thought it would be possible to have such a rewarding career, both financially and intellectually. That said, I'll try to summarize the advice I'd give...

I think in all fairness, it would be enlightening to hear from some experienced traders, and long term ET members who have recently made the switch to Bright (if there are any). Dustin and Shreddog are both credible, long term ET members and documented very successful traders, and have...

Not hardly, although I figured some would take it that way. (As with you, I trade retail and have no need for prop leverage.) I think a review of my posting history will show a mixture of support and criticism of Bright Trading and Don't posts. I have never traded with Bright Trading, nor...

Don, this couldn't be farther from the truth. If you had, in fact, used "reasonable number(s) based upon limited information" then I would not have commented at all. Instead, let's review what you did: UDon'tKnowMe started the discussion with the following statements: A "reasonable"...

I think you were probably intentionally misled by Don. UDon'tKnowMe never mentioned anything about 30k on deposit. That was one of the numbers that Don created out of thin air. UDon'tKnowMe indicated that his acquaintences had 20-30x leverage overnight. He subsequently mentioned that they...

(smiling) Just curious, Don. Why would you doubt the numbers he gave? Crazier yet, picking numbers out of thin air (volume, deposit and o/n balance) in an attempt to cast further doubt on what the guy said. Well, now that you've seen the 'real numbers', above. Maybe you'll have further...

No, I think you can get all three if you are a successful, experienced trader, and look hard. Similar to monstercat's point, I am saving over 200k per month versus those rates at Bright. It doesn't take a lot of thought to decide whether it's worthwhile to keep that additional cash on MY...

Don, Are those rates (1.0 cps for first 1000 shares and 0.4 cps above 1000 shares) all inclusive? That might explain why the rates seem outrageously expensive (both for 'trainees' and experienced traders). Most firms offer much lower rates, but also pass through ECN/SEC fees, etc, and I...

I've got to give you credit, Don. You are smooth. Bob may be a great trader (from what I've heard), but when it comes to marketing, you're no smuck, yourself. -Eric

You might find the following thread helpful: http://www.elitetrader.com/vb/showthread.php?s=&threadid=36083&highlight=activate%2Fdeactive Best of luck.

The difference is that S&P is (incorrectly) comparing the volatility from 11 weeks of trading in 2008 against the full year volatility in prior years. This is obviously not a valid comparison, while your link correctly compares a equal time durations (90 day periods) to get a different, and...

90% of prop traders may not survive retail, but the issue would not be commissions, fees or platforms, IMO. The issue would be leverage for most of them. In fact, if leverage were not an issue, I think most traders would be much better off trading retail and not prop.