$5,000 entry with training Plus, Plus

Quote from spect8or:

Dustin has been posting here since 1999, has a lot of respect from the 'respected' and long time members of ET and is believed to be quite a profitable trader. (Who would keep up an act for 5 years, anyway?)

Don, on the other hand, from the first day he posted, has NEVER enjoyed that level of respect. And there used to be a LOT of knowledgeable traders that posted on ET in years gone by, not the crap heap that posts these days. They all called Don on his bullshit. Yep, all of them. Don is LEGENDARY for EVADING ALL THE TOUGH QUESTIONS. He is a MASTER at it. You don't know what you're up against. His only goal, ever, since coming here, was to pump his firm at every opportunity. You don't hear much from him anymore, but if you were here in the early days, Don accumulated more posts than anyone quicker than anyone had ever done it; all of them replete with his slick, slimey worldplays.

Who would you rather listen to?.
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I can attest from Wire/Check request froms that Dustin knows what he is talking about. He is a reserved and quiet guy, but he is an awesome trader always on the cutting edge of methods to make more money than most in the market.

As far as his posts about better commisions and training...what does he have to gain? NOTHING...you could only hope to have his P/L figures...
 
Quote from ertrader1:

LOL.....ET stupidity allways puts a smile on my face.....
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Do you mean stupid like from this quoted writer perhaps?

Quote from ertrader1:

DON, i want in on this action , on the TRADING TOUR. LOL.....

THIS IS THE NEW IMPROVED CHOP SHOP. PERIOD......LOL......but its not wrong.
Take their money.....as long as they know the risks involved.

Go for it DON....you get richer by the Trading Classes.
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There is one reason that is not discussed that will usually lead to failure for prop traders. That reason is simply the other side of a double edged sword called margin. While prop firms provide the margin for an undercapitalized trader to trade amounts that far exceed their current allowable amounts on a retail account it can easily come back to kick them in the ass. Just to make it clear I know there are some people who have gobs of money and yet still trade prop with a small amount down and just use leverage, I am not talking about them. The majority of prop traders have small amounts of money up and use large amounts of leverage and that small money down is their total available savings.

If you have 15K down trading and you get leverage of 20 times your capital and start buying 1000 shares of RIMM and 1000 shares of IBM and 2000 MMM your going to have some trouble when they pop against you just 1 buck each. All of a sudden your down 4 grand and your true capital just lost roughly 25% of its value. Of course goes the mantra, what if this happens in reverse and you make 25%? Well because nobody can change the true statistics of trader failure rates due to numerous factors that are based on individual reasons that add up to a collective resulting failure rate that is very high, the former scenario is more likely to be the outcome. I mean a casino does not advertise on its slot machine picture "wall of fame" all of the losers. No what they do is show smiling faces of people who have won jackpots, being handed 10k-1mm dollar checks by the casino mgr and this gets people get all buzzed believing that this must be the majority of the population who play slots not the minority. This is called adverting and while people know deep down that the odds are against them they are sure they they can be in the winning minority. Thats where Don and other prop firms fit in. They provide you with the ability to play the slots while taking a piece of the action. In the form of commissions or as a partner against your profits. Either way, I know that I am going to hear the many people who tell me how great prop trading is and they are making it big, I dont doubt them. Those people are the ones on the the slot machine "wall of fame". For the unsung majority the result is an indisputable mathematical ruin due to the double edged margin trap.
 
The bottom line in trading is that other people's result don't mean sqwat to you or your likehood of success. The only thing that matters are your results and your bottom line. One person's profitable strategy is another man's loser and visa versa. No one knows if they are going to make it in this business with out jumping in and taking a chance. Most of the people who want to get into this business with someone else holding their hand will probablly fail. It definetly helps to try and learn from others but ultimately if you cannot learn from your own mistakes you won't succeed.

Incidentally I did attend Bright's week long class ($1000), but I ended up at another firm. I felt Bright's class was a good intro to the business but yes I wanted it to go deeper. However, had the class been more indepth I believe many people, myself included, would have gotten totally lost.
 
I've said before that I have to leave it to our licensed traders to post their results...you know that I can't



I see no reason that provided you use the standard "past results do not... there is substantial risk in day trading" disclaimer you would not be allowed to post a statistical summary of the results of your traders. If you can prove that 30% of your traders are consistently profitable in six months It would be amazing. The fact that no other firm gives this information would make Brights giving it even more remarkable.
 
years ago ... they were the only firm at the time

that did this ...

<post a statistical summary of the results of your traders. If you can prove that 30% of your traders are consistently profitable in six months It would be amazing. The fact that no other firm gives this information would make Brights giving it even more remarkable.>
 
posted on their website at the time

results of their traders ... broken down into diff categories

i.e.

location and how long they had been trading with the firm etc.
 
Quote from mrmoose:

I If you can prove that 30% of your traders are consistently profitable in six months It would be amazing. The fact that no other firm gives this information would make Brights giving it even more remarkable.
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I think it would be amazing if even 15% of their traders were profitable after only 6months! It would be way better than any other other brokerage I bet.
What I can't understand is why there is so much pressure on Brights alone; what about other advertisers on this site like IB(whose clients must begin with $25,000 not the paltry $5000 that Don is asking for) giving the results of their traders .
 
Quote from rttrader1:

from Brokerboy; "i don't think don runs a chop shop at all. i think he runs a good business for the right client. also to be perfectly honest i would love to goto his boot camp."

All I can say is I've "been their done that". I would have gotton more for my money had I taken the $1k and gone down the street to any casino, would have been more applicable to my trading than the week long training. This is my personal experience with Bright.

Also one of my best friends was a "former boot camp" trainee...and joined Bright w/ $15k...he no longer has his $15K or trades, not a comment on Bright , just the truth.
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rrtrader1 thats what i think too. the problem is i don't no because i never went. i can't believe they teach anything more then i learned already but don seems to say its the place to be. i won't pay but if they want to invite me sometime i would go and be honest on what i think of it on elite. i know they could not match my deal and i know they want alot of capital up. they seem to say there is alot of teaching and support. i don't trust what i can't see but not willing call anyone a liar either. thats my story and i'm sticking with it
 
Quote from roberk:

I think it would be amazing if even 15% of their traders were profitable after only 6months! It would be way better than any other other brokerage I bet.
What I can't understand is why there is so much pressure on Brights alone; what about other advertisers on this site like IB(whose clients must begin with $25,000 not the paltry $5000 that Don is asking for) giving the results of their traders .
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because 5000 down
penny a share
50% payout
you will never make money only the company will. the other companys don't talk smack on the boards like don does so thats why don gets heat. i have to say i get a kick out of don so even if i think he is blowing hot air time to time its ok. you got to have balls to come on here and deal with us.
 
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