Bright Trade

nitro · Jun 24, 2006

Quote from goodfellow:

...You can't trade 1000 or 2000 shares a day and make your money and take the day off and go golfing. They won't allow it. ..

Why do you need a professional trading firm if you are trading 2000 shares a day?

nitro

marketsurfer · Jun 24, 2006

Quote from riskarb:

Futures already carry minimal daytrading haircut, thereby screwing the bloated, necrotic business model. Ppl trade with Bright for the virtually unlimited haircut and 100% payout. It's a pawnshop/currency exchange model.

there are various edges available in equities that do not exist in futures--

hence the interest.

surfer

reg · Jun 24, 2006

Quote from goodfellow:

Bright does not have 100% payout. They have $400.00 a month desk fee's and $500.00 a month NYSE fee's and 1.25 cent commission fee's for each share. So 1000 shares will cost you over $12.50 plus NYSE fee's. And they make you pay $2,500.00 for the training which is mandatory before you start trading with them. And they also pressure you into trading a certain amount of trades per day. You can't trade 1000 or 2000 shares a day and make your money and take the day off and go golfing. They won't allow it. The more shared you trade, the more you make on commissions. They are a commission hungry prop firm.

You are one clueless dude. I hope you're not actually trading real money yet.

stereo70 · Jun 24, 2006

marketsurfer wrote:

there are various edges available in equities that do not exist in futures--

I know that's the argument -- the bigger question is this: Are those edges still valid; and will they remain valid much longer.

And has Bob, sensing the change, figured out an edge in the eminis?

mushinseeker · Jun 24, 2006

Stereo pretty much nailed it with the "Bob sensing..." statement

Look at the course outline and read white papers on Reg NMS you will find that a majority of the course will be irrelevant in at most 6 months unless Hybrid gets full implementation sooner.

marketsurfer · Jun 24, 2006

Quote from stereo70:

marketsurfer wrote:

I know that's the argument -- the bigger question is this: Are those edges still valid; and will they remain valid much longer.

And has Bob, sensing the change, figured out an edge in the eminis?

yes, there are still valid edges.

no idea about the bright brothers edge--if its still working or if they figured out another way yet.

surf

ElectricSavant · Jun 24, 2006

I am not flaming or anything...but the kind of leverage and a prop shop and newbies is one scary combination...

I have said far too much in this thread....

Bye

Michael B.

mushinseeker · Jun 24, 2006

Actually, I don't think any Class A member of prop shops can sense anything that would make them migrate to another venue of trading. THEY CAN SEE. If I had the $1M or so to start a JBO, I would run it at cost (ok maybe take a little vig for myself) since in doing so, I would be able to see strategies of tens or hundreds of traders ( in the case of the Brihgts, Echos) . Thru trade patterns one could classify traders and discern which strategies are working presently and be able to adapt without the requisite learning curve of trial and error. Priceless....

riskarb · Jun 25, 2006

Quote from marketsurfer:

there are various edges available in equities that do not exist in futures--

hence the interest.

surfer

Edges are achievable in index futures; diversification, corr, beta are well defined... my point wasn't to imply that futures offer > edge, but rather that futures are a no-no at Bright.

riskarb · Jun 25, 2006

Quote from MushinSeeker:

I would be able to see strategies of tens or hundreds of traders ( in the case of the Brihgts, Echos) . Thru trade patterns one could classify traders and discern which strategies are working presently and be able to adapt without the requisite learning curve of trial and error. Priceless....

The single worthwile post in this thread.