Bright Slashes Rates for 2010.
- Thread starter Don Bright
- Start date
The spread is not a factor for me, it is $1.00. I'm generally taking $2-$7 on the profit side, trading with limits, so $1.00 spread is not a factor for me.
Bottom line, get your costs down as low as you feel comfortable with, including your platform and broker. Then design your stategy to make more money than your costs.
Haven't seen any personally. Perhaps someone has decided to go ahead and join the IDA or something (we don't want to do that). Even RBC Carlin couldn't operate in Ontario I'm told, kinda weirc, LOL.
We don't have "clients" or "customers" another distinction.
Anyway, it's really too bad...we've had hundreds of traders wanting to join over the years from Toronto alone.
All the best,
Don
I said I "personally" pay over the .002 rate, and it's absolutely true. And, as I've already stated, the firms that I feel we "compete" with are right in line with us....we just lowered rates for a much bigger group.
Don
Quote from NYC212:
good stuff on the rates ! your pair traders must be happy
It's really helped about 90% of our traders, and to be perfectly frank, 2009 was tough for several reasons...(subpennies, flash trades, SEC fees etc.)...and we've already had several "returnees" from other firms...so hopefully it will make for better 2010.
Another thing we did was start a "JVC" program (Joint Venture Club)...for existing traders, and those who may start in 2010 ... where we open them a second account along side their existing trading account for a "ZERO DOWNSIDE RISK" automated pairs trading account. A 50/50 split with my brother, for automated trading only. They continue to trade their normal account, work together with their JVC team (heade by Bob) to run this (almost) fully automated program.
Our beta test has been great, and now we have about 90 traders involved...thinking we will expand to 200 or more in 2010.
Anyway, Happy Holidays to everyone.
Don
Congrats Don on the lower rates for the new year (2009).
Wanted to ask this question as it seems to have confused some people that might be looking to join Bright Trading.
What is the difference between an Experienced Trader and a New/ part time trader? Is it the number of shares someone trades say for a month or is it a given period of time say 6 or 12 months?
Good luck to Don and all his traders for the new y ear.
Wanted to ask this question as it seems to have confused some people that might be looking to join Bright Trading.
What is the difference between an Experienced Trader and a New/ part time trader? Is it the number of shares someone trades say for a month or is it a given period of time say 6 or 12 months?
Good luck to Don and all his traders for the new y ear.
Thanks...and all we mean is the 200k share per month threshold. Most of our people trade much more after a few months, but if they dont' (doctors, lawyers, part timers etc.) then they may pay a bit more. An easy goal to shoot for IMO.
To MoMo. timcar (whom I don't know, or at least I don't know if I know, LOL)... all the best...let's work together, as traders, to make 2010 a great year (like 2005-2008...2009 was a bit tough).
Don
no
Hello MoMo.
Why is it that you constantly âbad mouthâ Bright Trading about things like their rates or Don advertising too much on this website etc,etc? You won't answer that I know.
Now to answer you question.
At no point have I promoted Bright Trading over anyone else. Instead just inquiry about his place and to bring questions that me and others on ET might ask so that we all would understand. The one thing I have say over and over about Bright Trading is that in the Prop industry this guy âDon Brightâ stands up on stage and openly talks about the Prop industry both the good and bad.
MoMo Show me someone else who is willing to stand-up and openly discuss this Prop industry???? Seriously show me and everyone here on ET. Go ahead and do it please.
Seems to me that most in the Prop industry use the Bernard Madoff approach secretive and mysterious.
Why is it that you constantly âbad mouthâ Bright Trading about things like their rates or Don advertising too much on this website etc,etc? You won't answer that I know.
Now to answer you question.
At no point have I promoted Bright Trading over anyone else. Instead just inquiry about his place and to bring questions that me and others on ET might ask so that we all would understand. The one thing I have say over and over about Bright Trading is that in the Prop industry this guy âDon Brightâ stands up on stage and openly talks about the Prop industry both the good and bad.
MoMo Show me someone else who is willing to stand-up and openly discuss this Prop industry???? Seriously show me and everyone here on ET. Go ahead and do it please.
Seems to me that most in the Prop industry use the Bernard Madoff approach secretive and mysterious.