Bright trading and any thoughts

Quote from timcar:

It’s unfortunate for traders that TUCO failed because looking at it they did provide a good deal for traders. TUCO had 100% payout, leverage of 15/20 to 1 and lower rates .005 to .01 than BRIGHT.

For Mr. “Trader29” on 1 Million shares a month
1.TUCO at .005 is $5,000 vs
2. BRIGHT at say .0075 is $7,500.

What is $2000 to $3000 a month to you as a trader??????

Lower rates at TUCO and same benefits as BRIGHT makes the TUCO deal soooooooooo much better.
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that 15-20 number, what are you referring to. intraday or overnight, or both.
 
Its similar to BRIGHT higher interday(20:1) and then the trader gets only for overnight 5 to 1 most importantly depending on the agreement he has made with the PROP firm.
 
Quote from flytiger:

It would seem to me, really a novice in the Prop field, that if I were to make such a move, I would want to know on the worst day that someone of good fiber was in charge. Don could use a little more fiber, but that being said, I've been at brokerage firms that failed, and it's not pretty. The leaders are reticent to share the truth. It is frightening. The last thing you want to be thinking of is "is my money safe? Am I going to get it back?" I'll pay a few extra bucks for that, if that is the case, and I don't know that it is. I've dealt with some real dirtbags, and I never want to do that again. I just had to file arbitration against a firm to get a deposit back. I won. But you don't want to have to do it.

There are some really big windstorms yet to rock the Street. I would want to be with someone I trust. I would want to be with someone open, and financially sound. Granted, people have to protect their own interests when the excrement hits the wind oscillator, but it seems to me a guy who comes on here all the time, takes some really stupid abuse, has some very basic qualities the rest of Corporate America could use in the front office. Sometimes in life you just have to go with your gut. I wouldn't do this with anyone else except Don. Just wouldn't.

How's that Uncle Don?
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Call me an idiot, but I'd rather save $6-8k/month in commissions and risk one day losing my deposit and however much I'm up on the month then go for 3 or 4 years knowing my money is "safe" when I've paid $300,000 for that safety. Even if you only trade a million shares Bright's ripping people off by a good 4 + tenths, that's $192,000 over 4 years... god forbid you like to trade a little volume...
 
Just for fun, please show me your 20 cent, all in commission. That is considerably lower than what I personally pay. I don't think I have ever seen such a rate at a Broker Dealer that allows overnight etc. I suppose I'm "ripping myselfe off." LOL.

And, look, I've admitted to not having the lowest rates for everyone, but again, judging by what has been posted, we are in line for volume traders. I keep in contact with the major firms, and even called them...Assent and Echo. Count in the limited overnight capital useage (from the recent transferee's discussions), etc....well, they wouldn't be here if they weren't happy.

If you're happy where you are, simply stay there, not a big deal. The serious traders on this board do their due diligence, and they have 3 or 4 firms to choose from...and their not stupid.

All the best,

Don
 
Quote from Don Bright:

...and their not stupid.

All the best,

Don
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Bright is on the level and one of the most honest places you could find to do business.

"....and their not stupid" is pretty funny (their....they're).

Sorry to pick on your spelling Don, but you gotta admit, that is funny.
 
Quote from DonKee:

Bright is on the level and one of the most honest places you could find to do business.

"....and their not stupid" is pretty funny (their....they're).

Sorry to pick on your spelling Don, but you gotta admit, that is funny.
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LOL, and I've started posts about "there, their, they're, loose, and looser, your and you're" ...and, yes, that is funny. But, see, I can blame it on old age.... LOL.


Don :)
 
Don what every one is trying to say is that you are the best out there but they want to trade with Bright with a lower commisson and get the feeling of being with a nice secured firm :)
Your Rates are killing............. :(
 
Quote from ksonsinc:

Don what every one is trying to say is that you are the best out there but they want to trade with Bright with a lower commisson and get the feeling of being with a nice secured firm :)
Your Rates are killing............. :(
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It's so funny...I received several calls from guys on my trip today...from other Firms....not a single complaint, or even a "gee, can you beat that" type of thing. I hear "cut to 3 to 1 overnight now," I hear "my firm closed xxx office and getting out of the business" but when I give out basic rates, no one seems too concerned.

Don :confused:
 
Quote from timcar:

Its similar to BRIGHT higher interday(20:1) and then the trader gets only for overnight 5 to 1 most importantly depending on the agreement he has made with the PROP firm.
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Overnight leverage is huge for me...i probably averaged around 15 times my account equity this year. Many many times i've been over 20 times my account equity, to be able to hold a lot overnight is paramount for my trading style.
 
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