Bright Slashes Rates for 2010.

Quote from Mikegoldmann:

Don do you charge for training.

Several firms look really good up front, but when I have looked at the details many are charging $1,000 to $5,000 in up front training fees.

It just kinda rubs me the wrong way to have to pay them in advance for the privilege of giving them commissions.

Have a good New Year.

Mike
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We offer a Lifetime training class (you can come back as often as you like) for $1,000. This is open to the public and helps traders from any Firm, even retail. We offer an extended, hands on, live trading "boot camp" which serves to speed the learning curve up by months, if not a year (which could save the trader $thousands), for $1500. Both are optional. I take top traders away from trading for these classes, and have kept the prices the same for 12 years. We fill these up only 4 times per year.

Don
 
Quote from shortie:

but what determines BP of the subaccount? is it comparable to BP in the main account? i imagine it may be affected by the level of experience of a trader among other things.

i am trying to understand how much a subaccount may contribute in terms of the supplemental income to a trader. for example if the subaccount only gets tiny BP than it is more about having fun playing with the robot than about risk-free income.
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To date, traders are using between $50k-$1.2 million in the sub account. And, yes, starting off with 100 shares x x (120 or whatever) per layer, per pair is what we suggest. The more aggressive type traders will put on more pairs obviously. Keep in mind, if the account loses $10K then it is shut down. We don't want anyone taking a shot obviously, just an additional source of revenue to augment their normal trading.

Don
 
Quote from Shreddog:

Considering the rosy picture you normally paint Don, Bright must really be hurting for you to say this. Sorry to hear Don. Hope you guys get back on track soon. All the best!
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(thanks, I think, Shred...LOL)

Maybe we're spoiled, who knows but when our traders are struggling, it really concerns us. We have spent dozens (if not hundreds) of man hours analysing quite a number of situations...and have made changes to help going forward. We have reinforced our "interaction" and trading groups as well as the changes noted here.

And, as I said before...I'll be posting a full overview of this JVC program for you all to read when I do the actual "roll out" in 2010. I thank you all for the emails and PM's inquiring about it.. and, I think most of you see that it is a pretty simple concept overall.

Don
 
Quote from GGSAE:

I don't think that Bright is hurting there's still 400 or so traders and the profitable ones are still doing well - just not as well as they did in the past :) Check out Dustin's thread about how difficult trading has been this year and you see the picture. This is more of an example of Bright giving back a little more to really help out a lot of breakeven/struggling traders.

The JVC is really a communal way of helping everyone, i'm a profitable trader (with decent volume) but jumped at the chance of getting in because i've been looking at automated trading for some time. I've also helped out a number of guys with some of the pair programs we use; when you start to become friends with people you sit beside or chat with you try to help them out anyway you can.
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Thanks Don.
 
Quote from shortie:

but what determines BP of the subaccount? is it comparable to BP in the main account? i imagine it may be affected by the level of experience of a trader among other things.

i am trying to understand how much a subaccount may contribute in terms of the supplemental income to a trader. for example if the subaccount only gets tiny BP than it is more about having fun playing with the robot than about risk-free income.
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Having fun, you make it sound like a game of plinko, lol...
 
Economietrics,

Where do you trade for .002 per share?

=============================================
econometrics


Registered: Sep 2008
Posts: 165


02-21-10 03:26 PM

the rates are rather expensive. i would pay 0.002/share at most.
 
Quote from Mom0/pH0x:

1) a reputation/relentless marketing doesn't make you any money, but cheap rates help make you money...

2)i have never seen don on a top trader list. and only once heard of his brother being on one...

3) 30 mil a year from charging people expensive rates... yes, i can believe it... those "questions from dumbasses" are all a potential component of that 30 mil pie, so yes it's in his interest to answer questions and deal with dumbasses because, ultimately, he wants their money...
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agreed
 
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