Bright Trading 3 day trading school

[Ron Stein]

Thank you for the update everyone. I'm still learning and am doing my best to stay positive with my trading, and have an open mind. I'm interested in the trading school but wanted to see if anyone had attended and were able to use a large part of the techniques in his/her trading.

Don: I understand that as a trader with Bright, you would require a minimum account of $20k to control $1mill, allowing someone to trade the open. That would mean 50 to 1 leverage. My only concern would be that a small move in the wrong direction could wipe out the account with such huge leverage.

Also, in looking at the charts of some of the NYSE stocks that I follow, it seems like there are big moves in both directions in the first 1-30 mintues after the open - a giant whipsaw with gaps, etc. I wonder how anyone can make money on the open unless they have a really good read on the specialist. Does n't the specialist establishes his position right off the open and manipulate the stock in his favor until he has covered?

Are the successful trading records available for your traders as well for company owners?

 

[Don Bright]

Quote from Ron Stein:

Thank you for the update everyone. I'm still learning and am doing my best to stay positive with my trading, and have an open mind. I'm interested in the trading school but wanted to see if anyone had attended and were able to use a large part of the techniques in his/her trading.

Don: I understand that as a trader with Bright, you would require a minimum account of $20k to control $1mill, allowing someone to trade the open. That would mean 50 to 1 leverage. My only concern would be that a small move in the wrong direction could wipe out the account with such huge leverage.

Also, in looking at the charts of some of the NYSE stocks that I follow, it seems like there are big moves in both directions in the first 1-30 mintues after the open - a giant whipsaw with gaps, etc. I wonder how anyone can make money on the open unless they have a really good read on the specialist. Does n't the specialist establishes his position right off the open and manipulate the stock in his favor until he has covered?

Are the successful trading records available for your traders as well for company owners?

These questions are one reason why the training is so important. There is no relationship between between capital usage and risk, when performed correctly. And, yes, the first 30 minutes are the most valuable trading times.

For example, the reason we domake money on the open is because we are trading on the same side as the NYSE Specialist, not against him.

I have records of several years of openings that I can share with you when you come here. And, our traders records are confidential, as would yours be when you join.

As far as how we do, I can share this from Trader Monthly... it may not be the best in the world, not bad however.


Bob Bright - More on Bob
City: Las Vegas
Firm: Bright Trading
Age: 65

A senior statesman among prop traders, Bright still lights it up. The NYSE-listed equities market has always been his sandbox (he dislikes Nasdaq market makers), though he dabbles in futures and options, mostly equity indices. Lately, he has been employing a pairs-trading strategy. "He's thrilled over the NYSE merging with ArcaEx – it's a big win for prop trading," says his brother, Don. When he's not trading, Bright scours the Strip for a baccarat table from which he hasn't been banned. He also owns Bugsy Siegel's 1933 Packard limousine.
Estimated income: $15 - $20 million



And, since all this has been covered here on ET... here is a sample outline of the 3 day class that I found with the search function.


Day One Morning 9-12
• Introduction (names) DON
• History of firm.
• Common Terms
• Order Flow DON
• Investing vs. Trading DON
• Listed vs. OTC DON
• Retail vs. Professional - Don
• The "Edge" Don
• Trade through sweeps, liquidity rebates, etc. DON
• Fair Value DON
• Opening Only Prep DON
Afternoon 12:45 –3+
• Players, 15 minutes Don
• Indicators Don
• Q & A Don
• 1:20 Intro Bob
• Relative Strength – ducks Bob
• Momentum Bob
• Ducks Bob
• Review Fundamentals, Bob / Christy
• Basics of Pairs Trading – Bob
Tuesday
Morning 6-12
• Do Openings Don
• Discuss Opening
• Fundamentals vs. Techs (Pairs) Don
• Q & A Session – Don
• RediPlus– Don Mention BTM
• Risk & CAS-Tammy (8-8:45)
• 9:00 – 10:30 Rob: Pairs trading tools, etc. Live Trading example
• 10: 45 Cash Technical and Mental Aspects of Remote Trading.
• Noon: Lunch – return at 1:10
Afternoon 1:15-3
• BTM with Rob (Don Intro)
• U-4 Review BT requirements Tammy

Wednesday
Morning 6-1 (3 breaks)
• Do Opening Don
• Discuss Boot Camp Don
• Review U-4 – collect Don
• TAPE reading Don
• Reading Indicators (Prem/disc +) Don
• Business Plan Overview Don.
• Live Trading 9:00 – 10:00 Randy
• Office and Remote Bobby/Randy
• 10:15-11:00 Don will cover:
• Psychology
• Behavioral Consequences
• Discipline, Risk, etc.
• Rebalancing + Quarter end. (window dressing, etc.)
• 11:00 – 11:45 Rob and Cash review Q&A period.
• 11:45 Introduce Kevin / IT specialist
• Lunch 12:00-12:45

Afternoon 12:45 – 3:00
• MOC Viewing/discussion-Don
• Review + paperwork/ Don
• 1:30 Strategies with examples (ours and students). Bob +
• Ducks – R/S, etc. review
• Discuss Full Day of Trading Bob+
Trading Strategies covered and reviewed
Opening Only Orders
Scalping
Post Opening (sectors, etc.)
Relative Strength
Momentum
M & A Spreads
Pairs
Contrarian-Volatility
Break-outs


Dismiss approximately 3PM


Basic outline for 3 day training program.


If you have more questions, please call me: 702.739.1393.

All the best,

Don

 

[Ron Stein]

Thanks Don. You've been very helpful. Thanks for posting the class schedule.

 

[IronFist]

What kind of opening strategy takes $1M to do, and why doesn't it work with less?

 

[flytiger]

How about posting a pic of that Packard? That is a hoot.

Who services that thing? I don't think Autozone carries those parts since last year.

 

[Don Bright]

Quote from flytiger:

How about posting a pic of that Packard? That is a hoot.

Who services that thing? I don't think Autozone carries those parts since last year.

Sure, I haven't taken a photo of it in years....but I'll go snag one and post it up.

We drained the oil about 15 years ago, haven't touched it since. It ran then, should run now (hopefully).

Nope, no AZN for the thing, that's for sure.

Don

 

[Don Bright]

Quote from IronFist:

What kind of opening strategy takes $1M to do, and why doesn't it work with less?

For example, I place (in my training account) just 2000 shares to buy and 2000 shares to sell (4000) on 50 stocks each morning. 4000 x $50. or so = $2,000,000....I try to get filled on about 10% approx, sometimes more.

All the best,

Don

 

[ammo]

talk to a mechanic,i heard u should fill that engine to the brim with oil for storage,keeps all the gaskets from drying out and keeps moisture and oxygen away from metal surfaces,preventing oxidation and rust

 

[Ron Stein]

Quote from Don Bright:

For example, I place (in my training account) just 2000 shares to buy and 2000 shares to sell (4000) on 50 stocks each morning. 4000 x $50. or so = $2,000,000....I try to get filled on about 10% approx, sometimes more.

All the best,

Don

Don,

Can you explain the math. Isn't 4000 shares at an average of $50 equal to $200,000. Do you mean that you place 1 mill on the buyside and one mill on the sell side and get filled on only 10% of the orders?

Also, if I attend only the 3 day training, will I need to purchase a software program that will work the open and close (if I trade through another firm)?

Thanks.

 

[Don Bright]

Quote from Ron Stein:

Don,

Can you explain the math. Isn't 4000 shares at an average of $50 equal to $200,000. Do you mean that you place 1 mill on the buyside and one mill on the sell side and get filled on only 10% of the orders?

Also, if I attend only the 3 day training, will I need to purchase a software program that will work the open and close (if I trade through another firm)?

Thanks.

Sorry about the math confusion....it's actually $10,000,000... and yes, we try for about a 10% or so fill rate. Traders start off small of course, and work their way up.

Our programs are designed to work for our Firm on Redi Plus...but you really don't need to automate the whole thing (as long as you understand the concepts well).

Don