Bright trading and any thoughts

Hi guys....everything is negotiable within reason. I get "low balled" every day, and don't mind, it's just something that happens. All I can do is judge by those who come from the other 2 firms, and the pricing they have, and what we give them. All I ask is copies of their sheets to confirm all the facts (commish, interest, haircut, rebates, access fees, data fees, etc.). No big deal, just business, nothing sinister, nothing hidden, just business.

Dustin, give me a call sometime...not going to try to recruit you (promise), just really want to talk again...I think you called a couple months ago. 702.739.1393.


Don
 
You can either pay now or pay later


Ask the tuco guys.



As Don, has always said look at the balance sheet before going with anyone. If your only putting small money up front then then worst case you lose 10 or 15 k if your prop firm get's tuco"ed, but for those who are putting large money up, ask yourself what is peace of mind worth.
 
Quote from volente_00:

You can either pay now or pay later


Ask the tuco guys.



As Don, has always said look at the balance sheet before going with anyone. If your only putting small money up front then then worst case you lose 10 or 15 k if your prop firm get's tuco"ed, but for those who are putting large money up, ask yourself what is peace of mind is worth.
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So what were the problems with Tuco's balance sheets?
 
Quote from Midas:

Most of the negative quotes I have read are; the he said she said variety.

Correct me if I am wrong but have any of the detractors on this thread actually negotiated commissions with Don to know what volume rates he offers experienced traders? It appears to me you are comparing rates the neophyte trading 100 share lots pays to experienced traders doing volume.

You are comparing apples to oranges.


It sounds like you are just taking shots based on assumption not facts.
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I think in all fairness, it would be enlightening to hear from some experienced traders, and long term ET members who have recently made the switch to Bright (if there are any).

Dustin and Shreddog are both credible, long term ET members and documented very successful traders, and have posted their recent experiences of being 'high balled' by Bright. As Don said, this is nothing personal, just business, and so Dustin/Shreddog went another direction for their brokerage business.

That said, perhaps there are other successful, experienced traders, with ET credibility, that have better negotiation skills and can explain their recent decision to make a switch to Bright. If any such traders exist and care to comment, what was the reason for the switch (training, etc)? A detailed review of the decision, as posted by Shreddog would be helpful.

I think these discussions are very beneficial to the ET community, to get a balanced view of our available brokerage options. The good and the bad (and we can be sure there is always some of each on any topic).
 
Quote from EricP:

I think in all fairness, it would be enlightening to hear from some experienced traders, and long term ET members who have recently made the switch to Bright (if there are any).

Dustin and Shreddog are both credible, long term ET members and documented very successful traders, and have posted their recent experiences of being 'high balled' by Bright. As Don said, this is nothing personal, just business, and so Dustin/Shreddog went another direction for their brokerage business.

That said, perhaps there are other successful, experienced traders, with ET credibility, that have better negotiation skills and can explain their recent decision to make a switch to Bright. If any such traders exist and care to comment, what was the reason for the switch (training, etc)? A detailed review of the decision, as posted by Shreddog would be helpful.

I think these discussions are very beneficial to the ET community, to get a balanced view of our available brokerage options. The good and the bad (and we can be sure there is always some of each on any topic).
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Sure.

I have been a member here since 04 and moved to Bright in Feb. 07. I have traded full time 6 of the last 8 years. (took a couple of years off the start a business with family......)

I trade remotely from a small town in FL

Leverage: I have never had issues
commissions: will not disclose other than they are competitive
I trade 3mm +/- per month
Company: top notch as far as equity prop. firms go.

Why I joined instead of another Firm:

1. Many of my former trading desk have moved there in the last 5 or so years and gave a good review.
2. Bright is one of the most liquid, and they keep a good deal of their own money in the firm giving them skin in the game.
3. Redi Plus & Goldman Sachs
4. Management actively trades and have been around the block.
5. I do not feel comfortable leaving mid 6 figures in most of the other prop. firms
6. I do not need or want much supervision have my own trading strategies.
7. There is a free flow of information regarding working trading strategies...

This is my unbiased experience. I have nothing to gain or lose here.
 
that's inspiring. does this guy trade pairs, or do directional plays? or some other strategy nobody else knows of...


Quote from ESSTUD:

Many of the best day traders out there suprisedly have never heard of et. There's a 29 year old trader using 3 million buying power who's averaging 400k a month net. I didn't believe it till i saw the guy trade for a week with my own eyes. He showed me all his records for the past 3 years. He only trades around 100 k shares a day. Trades all nyse stocks. I asked him if he was on et and he said he never heard of it. See you don't need 30 mil buying power or to trade 8 zillion shares a month.
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I keep hearing good things about Bright. Don seems honest on all of his post in ET.

I understand that Bright has some large focus on pairs trading. I am wondering if these kind of income is only available with pairs or hedging strategies.

More power to the 400k/mo trader.... good job ...
 
Quote from ctarmor-et:

I keep hearing good things about Bright. Don seems honest on all of his post in ET.

I understand that Bright has some large focus on pairs trading. I am wondering if these kind of income is only available with pairs or hedging strategies.

More power to the 400k/mo trader.... good job ...
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(Thanks, always nice to hear).

We do a lot of pairs, of course, but many traders never do pairs. Some just trade openings. Some just "make markets" in one or two stocks. Some do a lot of intraday enveloping with automation....there's a lot of ways to make money, and the trading is actually relatively simple...BU
Tt the psychology and simply knowing what to do, and having the capital to do it, is why it's not easy....takes some time, takes a lot of work.

Traders tend to gravitate to styles that give them a solid comfort level...willing to learn new things and adapting to market conditions is important as well. The structured environment and interaction helps a lot in that regard IMO.

All the best,

Don

'
 
I think Don Bright is an upstanding guy based on my conversation with him and his firm is for sure one of the best in this world of prop shops. Bright Assent seem to be the better ones to go to. The only problem I see is fairly steep commisions and you pretty much have to do tons of volume. If you do not trade a lot of volume then you would be screwed going to them as the overhead would kill you ($200 monthly desk fees at both Assent and Bright which may be rebated IF you do tons of volume. These firms are geared for high volume traders and since they are high volume they require big margin. If you are not this take your 25K and go to IB. Go to IB learn to trade big volume and then go to Bright or Assent. Otherwise in your learning process you will go broke paying monthly desk fees alone. IB desk fees are free.
 
Just a comment about remote "desk fees." Simply trading the openings at a mid level, you will easily exceed the minimum for getting the full rebate. 10,000 shares per day is only 5 trades in and out of a 1000 shares.

FWIW,

Don
 
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