Unfortunately Goldman won't let us program their computers. We paid $100K to develop the programs we have to insure proper pricing to each trader (after doing it manually for years).
Don
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Bright trading and any thoughts
- Thread starter tango29
- Start date
Unfortunately Goldman won't let us program their computers. We paid $100K to develop the programs we have to insure proper pricing to each trader (after doing it manually for years).
Don
Can you trade futures with Bright or only stocks? I've been on the futures end for years and have good setups, including automated systems, but would like more leverage.
Any thoughts?
Thanks
Any thoughts?
Thanks
Quote from 2dbroker:
Hey Don
if i have a few "yes"answers on my series 7 from 10 years ago, will that screw me up when trying to gain employment with your firm,considering i am not trading customer accounts?
thanks don
Depends on what it was I think. You can call my Compliance Officer ahead of time to check for sure.
Don
Quote from swiftmike99:
I can't believe there are people willing to pay this much. I have nothing against Dob Bright, he runs a good business. Little like mafia, they will take care of you, he is really nice to the community, but behind everyones back he rapes your daughter.
I make about 300$ a day on 30k shares, at my company i get full rebates, and pay about 3$ in commision. At Bright I would pay 300$. and no rebates? I would rather take my 30% then 100% anyday. You are a fool to think otherwise.
What firm do you trade through Swiftmike?
I spoke with Don Bright and he seems like what you say; totally legit, upfront, and not scamming anyone (except of fees). He is NOT a crook. But Bright's fees seem out of control. A newbie would wipe out after a few months just on fees alone. I was considering bright but after seeing how much you guys save by not paying the excessive fees it isn't worth going to him.
I'm starting to think the way to go is to have a well funded account (100K) and trade through IB and saving hundreds per month on desk fees.
From what I gathered the fees other than the training are negotiable. And if you are all ready trading and can show them volume your commissions will be adjusted to reflect it, but I maybe wrong on that. I would be curious to know if there is a fee to remote traders? Another question that popped into my head is come tax time as a licensed trader does the Profit(loss) pass through as regular income or do you still have to make out schedule D?
Quote from tango29:
From what I gathered the fees other than the training are negotiable. And if you are all ready trading and can show them volume your commissions will be adjusted to reflect it, but I maybe wrong on that. I would be curious to know if there is a fee to remote traders? Another question that popped into my head is come tax time as a licensed trader does the Profit(loss) pass through as regular income or do you still have to make out schedule D?
We have excellent tax treatment. No Sch D or anything. Taxed on "triple net" and totally exempt from FICA (Self employment taxes). One number, mark to market.
Don