Bright Trade

Quote from goldenarm:


Maybe if your firm was more selective, it would lower the attrition rate and save many people from learning a very expensive lession: that daytrading is not for them. But of course, this would conflict with your purpose to accept everyone in as long as they are breathing and more importantly, can pay the "performance deposit." [/B]
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Now come on, wouldn't it be a bit weird if "wouldn't allow" a citizen to start a business? What if the Exchange said to us "sorry, but you guys can't join" - no reason whatsoever.?

That being said...there have been hundreds that we strongly suggested that "they re-think the whole idea" - and, of course, the comment about breathing was a bit flip dontcha think, LOL.

Don
 
Quote from goldenarm:

That Bright should have more stringent criteria about who should become a prop trader besides breathing and interest.
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I hear Don is not being as stringent on the breathing requirement. :D
 
Quote from goldenarm:

That Bright should have more stringent criteria about who should become a prop trader besides breathing and interest.
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Well Czar, let's extend that to comedians, actors, athletes, small business owners, and any other non-safe options ...aim for safety in all endeavors , eliminate all risks for all people who appear to be breathing.

Christ, enough with the nannyism..last I checked people posses free will and will make choices not always in there best interest, and deal with the consequences.

Man, how do we get by without you pointing out the pitfalls ...
 
I'm just referring to daytrading, not the other professions. There's too much smoke and mirrors going on in the industry that prevents aspiring traders from making fully educated decisions.
 
At most Universities you can't get a Graduate degree for $5000- $25000, yet you can get into trading with this much. I've had the impression from reading various posts from Don that they discourage those that come in with the idea that because they have $5000 they'll be making money and be rich next week. I get the idea that Brights encourage education, and that you will most likely spend alot more than $5000- 25000 getting an education if starting from scratch. People go into law, and Medicine thinking they'll be rich, some are, a lot end paying off their loans over a long time and not living the high life.
 
Quote from taclander:

I get the idea that Brights encourage education, and that you will most likely spend alot more than $5000- 25000 getting an education if starting from scratch.
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Not with Don's money you won't. Just like in a casino, when your chips are gone, they ask you to leave. Next!
 
Quote from Maverick74:

Not with Don's money you won't. Just like in a casino, when your chips are gone, they ask you to leave. Next!
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Maybe I'm wrong , but I thought they didn't let you start out trading 1000+ shares, you had to build to it by demonstrating profitability. At least I thought I had read that in his posts along the way. Of course its your money! I don't know a school that lets you keep going on their dime , especially if you are failing! Most schools are happy to hook you up to a loan so they can keep sucking money out of you long after you are gone via failure, quitting, or graduation. I don't recall reading anywhere Don telling anyone to go take out a $30,000 loan to trade. Actually I think he has made a point that they prefer people coming in with money they put away to start this business, not with lifeline reserves. Also he has mentioned they take people with $5000, but they prefer you come in with at least $15,000 or more. Now I suppose the naysayers will say thats to suck it all out of you teaching you to churn, but I guess I see it more as realistic. Everytime someone posts on Elite that they have $2000- 5000 and want to learn how to trade everyone jumps down the throat and tells em they are nuts. Yet when Don comes on and says it takes more to get past the learning curve and start making a living its all "the Brights are trying to clean you out!"
I've been thinking of taking some earnings from my futures trading and learning more about the equity side so that I can expand my business and income. Bright is one of the few that seems to have any kind of a formal training program. One of the competitors mentions training, but the website has references that are 2-3 years old. What the hell, they can't even update a website. Many others talk training, but when I call and press it, it sounds more like a load of b.s.. For my futures trading I'm mostly price action and a few indicators which I'm not sure how much I actually reference when trading. If you have a good place to learn more of the equity side of trading, tape reading, specialists, etc please feel free to pm me, because so far Brights has been the main one I've found.
 
Quote from taclander:

Maybe I'm wrong , but I thought they didn't let you start out trading 1000+ shares, you had to build to it by demonstrating profitability. At least I thought I had read that in his posts along the way. Of course its your money! I don't know a school that lets you keep going on their dime , especially if you are failing! Most schools are happy to hook you up to a loan so they can keep sucking money out of you long after you are gone via failure, quitting, or graduation. I don't recall reading anywhere Don telling anyone to go take out a $30,000 loan to trade. Actually I think he has made a point that they prefer people coming in with money they put away to start this business, not with lifeline reserves. Also he has mentioned they take people with $5000, but they prefer you come in with at least $15,000 or more. Now I suppose the naysayers will say thats to suck it all out of you teaching you to churn, but I guess I see it more as realistic. Everytime someone posts on Elite that they have $2000- 5000 and want to learn how to trade everyone jumps down the throat and tells em they are nuts. Yet when Don comes on and says it takes more to get past the learning curve and start making a living its all "the Brights are trying to clean you out!"
I've been thinking of taking some earnings from my futures trading and learning more about the equity side so that I can expand my business and income. Bright is one of the few that seems to have any kind of a formal training program. One of the competitors mentions training, but the website has references that are 2-3 years old. What the hell, they can't even update a website. Many others talk training, but when I call and press it, it sounds more like a load of b.s.. For my futures trading I'm mostly price action and a few indicators which I'm not sure how much I actually reference when trading. If you have a good place to learn more of the equity side of trading, tape reading, specialists, etc please feel free to pm me, because so far Brights has been the main one I've found.
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You are naive. Do you know how much money you can lose with 100 shares? I had a good buddy of mine that traded 100 to 300 shares that went 75k into the hole trading prop in NY. Your eyes are about to be opened wide.

And this reference to training really gets under my skin. I say this as a guy that use to train new traders and was myself trained by one of the best daytraders in NY. There is a huge difference between taking a 2 week class and sitting next to a guy that pulls in 7 figures a year making money every day.

I'm not trying to rain on your parade but I'm going to get short on your deposit and cover my short position the second your account hits zero. You can't learn to trade in a class. You need to sit down next to a great trader for 6 months to a year. This is how Goldman does it. This is how Susquehanna does it. This is how some of the best prop traders do it.

These are the facts. But go ahead and take your class. Because life is just that easy. Sign up and prosper.
 
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