Diners are three persons. The rest (customers) are the food. If what is shared is useful, why are they not billionaires after so long in the profession?
Selling picks and shovels to gold miners is more lucractive than mining for gold.
Another Florida event...
- Thread starter Don Bright
- Start date
Diners are three persons. The rest (customers) are the food. If what is shared is useful, why are they not billionaires after so long in the profession?
Selling picks and shovels to gold miners is more lucractive than mining for gold.
Don has posted many of his trades on this site in the opening orders journal for years. He and others post their oo trades almost every day. Bob Bright was listed as one of the 100 top traders in Traders Monthly mag in 2005 and trades every day all day in his late 60's. Their firm is one of the only prop. firms left that is run by real traders. You need to do your homework before you jump to conclusions grasshopper. It is good to be skeptical but you really need to know what you are talking about before you open your mouth.
I personally have made a great deal of money with strategies that I learned from the Bright organization. (I trade for a living and have made the majority of my income from trading since July 2000 at a competitor firm and with Bright since 2007).
As far as the value the proprietary business model adds: Bright and other similar firms (Echo, Assent, Schonfeld, Hold, and others) provide millions $ to trade for those with a knack for risk management, an open mind, a willingness to keep learning and improving strategies, and passion for trading and the art of speculation.
We pride ourselves on what our traders do via interaction and helping one another. Sure, we try to "lead from the top" etc. by setting up mentoring groups, teams, etc., but when the traders take the ball and help one another it really warms my heart (and helps the traders bottom line).
Regarding the openings, all I can say is that still between 25%-30% of the money Brigtht traders make is from the opening only strategy. We have had to adapt, of course, and I can't do it manually nearly as well as I could for the last few decades. We have really cool automated programs that are in use daily. We, as a group, enter between 30million - 50 million shares each day for the opens. The last quarter of 2008 was one of our best, for obvious reasons, and we've had to narrow envelopes and expand the "net" a bit this year, but still an oveall money maker. I'm having to allow new traders to automate sooner than I like, but still, it's the only way to make is consistent.
The "value added" concept is something that we have insisted on for years from our mentors and affiliates. We despise the MLM concept that many firms use...unless a group is adding value to the traders, the new people fall under corporate management.
Regarding Jake and John.... I have met most of the people in the industry over the years, and for reasons mentioned by the previous poster, is why I pretty much stopped going to those expos a few years back...few real traders or trading firms taking part any longer. This little dinner and event was put together by an old friend, and I told I would try to help. I never "go along" if there are big fees or anything involved...these guys have always been well accepted from what I've seen....and, as the web flyer says, ...I'll try to bring everyone back to Reality, LOL.
OK, time to head out to my brothers birthday party...so many parties every year, so little time. Still recovering from 3.5 hours at the Jimmy Buffett concert last night, LOL. Good show however.
All the best,
Don
Regarding the openings, all I can say is that still between 25%-30% of the money Brigtht traders make is from the opening only strategy. We have had to adapt, of course, and I can't do it manually nearly as well as I could for the last few decades. We have really cool automated programs that are in use daily. We, as a group, enter between 30million - 50 million shares each day for the opens. The last quarter of 2008 was one of our best, for obvious reasons, and we've had to narrow envelopes and expand the "net" a bit this year, but still an oveall money maker. I'm having to allow new traders to automate sooner than I like, but still, it's the only way to make is consistent.
The "value added" concept is something that we have insisted on for years from our mentors and affiliates. We despise the MLM concept that many firms use...unless a group is adding value to the traders, the new people fall under corporate management.
Regarding Jake and John.... I have met most of the people in the industry over the years, and for reasons mentioned by the previous poster, is why I pretty much stopped going to those expos a few years back...few real traders or trading firms taking part any longer. This little dinner and event was put together by an old friend, and I told I would try to help. I never "go along" if there are big fees or anything involved...these guys have always been well accepted from what I've seen....and, as the web flyer says, ...I'll try to bring everyone back to Reality, LOL.
OK, time to head out to my brothers birthday party...so many parties every year, so little time. Still recovering from 3.5 hours at the Jimmy Buffett concert last night, LOL. Good show however.
All the best,
Don
no black and white answers has been provided. Filling text such as what is below may make things closer to truths:
"
1. Under penalties of perjury, Mr ___ ____ hereby represents that the trading performance of Mr ___ ____ is _____ Over ____ years.
2. Organization _____ represents that portfolio magins, SPAN magining and other forms of margins available to professional traders, are NOT used and that Organization ____ contributes risk capital without which positions cannot be maintained based solely on magin rules, and capital contributed by member traders.
3. If there is risk capital contributed by Organization____, the maximum capital that has been used in the past is.
4. Organization further represents that by risk capital it is meant capital not obtained via loans/debts etc.
5. Organization ____ does not obtain payments/commissions/etc from brokerage and clearing firms
et..
"
"
1. Under penalties of perjury, Mr ___ ____ hereby represents that the trading performance of Mr ___ ____ is _____ Over ____ years.
2. Organization _____ represents that portfolio magins, SPAN magining and other forms of margins available to professional traders, are NOT used and that Organization ____ contributes risk capital without which positions cannot be maintained based solely on magin rules, and capital contributed by member traders.
3. If there is risk capital contributed by Organization____, the maximum capital that has been used in the past is.
4. Organization further represents that by risk capital it is meant capital not obtained via loans/debts etc.
5. Organization ____ does not obtain payments/commissions/etc from brokerage and clearing firms
et..
"
You are a bullshitter. Some answers:
1. I read a thread about open orders. What is in there is just some other bullshiters who show during the day to say, after the fact, that they made or lost some money during the opening. Note that Don is clever as he reports only cents made, and not dollars as other do.
2. There is nothing in the propriety business model that is not simply usage of portfolio margin, span margin, etc, based on capital contributed by traders and rules from SEC. What prevents a prop firm from using the above to do trades with no capital of their own once they have already opened a prop firm account. In other words the traders as a group may be used rather than use capital. The only requirement that might be is from the brokerage firm that may have demanded cash to open for them a prop firm account. This does not mean traders are using it.
3. You sound like a bagholder looking for bread crums to fall from Don's table.
Not sure what all that was about, but we have always made our balance sheets available to members. The audited balance sheets show that we have no investors or anything. We don't owe anyone anything if that was the implication. Not sure if that was the intent of the question. I have always answered what I can, regulatory wise, and have deferred to Compliance for anything I'm unsure of.
Don
Don
Don't even respond to the guy Don, like someone pointed out he has 3500 posts in one year, he is just sitting behind a computer with nothing to do all day but try and create drama to feel better about his life.
Firms like yours provide a valuable service by allowing traders to trade directly with the exchanges and leverage our money to make more money for ourselves. The rest of us understand that a firm doing such a thing deserves a profit for that. In fact with the state of the banks/economy I prefer knowing my money is with firms that ARE making a profit, not sure anyone would be comfortable with money at a place not interested in making money. Keep doing your thing and don't get sucked in by the rantings of one guy that really does have nothing better to do than post all day. (Even though sometimes you also seem to post all day.
j/k)OK, just to keep this straight... The event with the other guys is in Ft. Lauderdale on June 23rd. Call: 866.280.5934 to register and see details here: http://www.stocktrading.com/special2009.html
On the 24th, a more intimate setting (room for about 20 more guests)... will be in Hollywood FL, Dave and Buster's. This is free dinner/drinks/workshop...PLUS discussions with my Miami Affiliate/Traders with their office in Miame (of course, LOL). These guys are good, seriously..about a decade each of successful trading.
More info here: http://www.stocktrading.com/events2009miami.html
We're limited for the event on the 24th, and I would like to see some of you serious traders from the area join us, so please email me with "Miami" in the subject line.
donbright@brighttrading.net
Hope to see you at one or both....
Don
On the 24th, a more intimate setting (room for about 20 more guests)... will be in Hollywood FL, Dave and Buster's. This is free dinner/drinks/workshop...PLUS discussions with my Miami Affiliate/Traders with their office in Miame (of course, LOL). These guys are good, seriously..about a decade each of successful trading.
More info here: http://www.stocktrading.com/events2009miami.html
We're limited for the event on the 24th, and I would like to see some of you serious traders from the area join us, so please email me with "Miami" in the subject line.
donbright@brighttrading.net
Hope to see you at one or both....
Don