Bright trading and any thoughts

Quote from EricP:

I see your point. I suspect that he was probably probing at how many of the clients maintain open accounts, but trade extremely infrequently. For example, if I'm not mistaken, Chris Jesus Ferguson is a Bright Trading client, but if my memory is correct, Don has mentioned that he has traded little if any during many years (as he focuses on playing poker). Taking this example to the (unrealistic) extreme, there might be 500 'traders' like Chris Ferguson with inactive accounts at Bright, enabling Don to state that "over 50% of our accounts have been open for over 5 years".

If I'm not mistaken, I think that's the point that NYOBScalper may have been making. Since Don repeatedly states that "over 50% of their clients have been with them for over 5 years", I think it's a valid question to ask what percentage of those 5+ year clients are consistently successful (his threshold being $25k+ per year), versus the rest that might be net losers or more likely inactive accounts. I will take Don at his word if he answers directly that 90%+ of the clients that have been with Bright for over 5 years are consistently making over $25k per year. (Don: You know that I don't view you as dishonest, but you are indeed a spinmaster - so, if you'd like to duck on this question, that's fine, but if you'd like to answer it, I think most of us will trust your direct answer to this question).
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LOL...i guess making 200-300 trades a day is considered inactive?

I'm starting to think some of the comments being typed are not even being clearly thought out before they hit the keyboard. Do you guys think someone would just sit idly by and pay $200 a month desk fee and all the other charges if they weren't trading each day, c'mon.

For Eric, NYOBscalper and all the others asking about records...seriously are you guys retarded? Please show me anywhere in the history of ET where a firm manager/proprietor disclosed average rates of their traders. For a plethora of reasons Don cannot disclose traders results and I personally would not be happy if I saw my account being 'used' even if the name/account number was hidden.

A couple pages ago i've disclosed my results on the year, i'm quite confident it's just a matter of time before i'm netting 7 figures a year. There's an actual trader posting about Bright and his results, what more do you want? I'm definitely not going to PM guys about coming over to ET to try and prove something to a bunch of internet strangers. I couldn't even imagine what their response would be.
 
Quote from GGSAE:

LOL...i guess making 200-300 trades a day is considered inactive?

For Eric, NYOBscalper and all the others asking about records...seriously are you guys retarded? Please show me anywhere in the history of ET where a firm manager/proprietor disclosed average rates of their traders. his results, what more do you want?
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I find it humorous to some degree --- I know Eric does big volume since he's automated. I've known him from years ago on SI. But why he seemingly has this vendetta w/Bright puzzles me. Most traders here do NOT do the volume Eric does and thus are not going to get as good of rates as he does. I give Don credit for having a presence here and wonder why others that are supposedly so much better do not have have the same management presence. Where are those firms disclosing the number of traders they've had for 5+ years? Where are they answering what rates would be for guys doing various volume levels? These posters expect Bright to disclose such info but their firms are mysteriously silent (absent).

If cheapest is best for these guys maybe they think a Big Mac is better than a good steak at Ruth Chris. However IMO some people actually are willing to pay more because the whole package is better for what they desire.
 
GGSAE,
I'm assuming your post was not intended as reply to mine (as it doesn't seem to address anything in my post). Just to clarify though, I don't have any doubts that there are some very good and succesful traders that trade at Bright; I know one of them, myself.

DHOHHI,
<b>IF</b> the other firms selectively posted information about their clients ("half of our clients have been with us for over five years", yada, yada, yada), then I think the ET community would have every right to ask those firms to clarify their statements as well. Definitely.

Similarly, if a person says "I did not have sex with that woman", an appropriate and fair question might be "How do you define the word, sex?"

Don opens the door for these questions when he makes broad statements to market his firm (which competing firms do not do). You don't see people asking such clarifying questions from Velocity Futures, for example, since they haven't made such claims in the first place.
 
Quote from EricP:

C'mon, Don. You know that you don't have the volume nor the track record to support that, even including the boot campers. If you are looking for a better place with lower rates, however, you might want to call other firms discretely, to reduce the impact on your brokerage business. :D

Spin, spin, spin. Just curious, Don. How many of your <i>clients</i>, have capital accounts of $10M? Don't trouble yourself, if it's too much difficulty to filter through '18 years of records' to find out.

P.S. And I talked to my big brother as well, but I'm going to leave him out of this.
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The biggest trader accounts, other than family, are in the 1-4 million range. Since they use our money to trade with, no need to keep everything here. (Much easier to look at my daily reports for this info).

According to one of your posts, if I do the math right, 18 months of about 36 million, so only 2 million a month. If we took a portion of our portfolio trading to Genesis, we would easily generate that much. I don't understand your comment about volume. And, as far as track record, I think we would pass muster.

Look, I know they don't allow that kind of leverage, and I don't blame them. But, for a big discount in fees to sub 20 cents, we would love to register a nominee to trade an account. Net savings to us, as long as we will receive proper interest on the money and the short stock sales.

I'm looking at photo's of a couple of offices at 30 Broad, not sure where you are, but if I fly back to set them up, maybe I can come by to check how the Genesis office looks. Are you in office or remote?

Don
 
Quote from Don Bright:

According to one of your posts, if I do the math right, 18 months of about 36 million, so only 2 million a month.

Are you in office or remote?

Don
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I trade remote. Your math is wrong on the volume.
 
Just a comment regarding making "broad" statements. Actually, yes, I fully understand that everything here is reviewed by the proper regulators. I do my best to answer questions, you can call it spin or whatever.... I just try to accentuate the positive in all things in life. When I speak with new traders, I make a point to warn them of the risks involved, etc. No "rose colored glasses" used IMO. As with any group that's been trading for 30 years, I'm sure we've made a few people upset at us, but I honestly think very few.

And, regarding my posts here on ET. I've been online since 1979 (The Source back then, seems like the dark ages)...and part of several online communities, and I enjoy it. Since I'm in front of a couple of computers all day long, I may as well join in. I type pretty fast, so why not.

I get a lot of good questions and market notes to add to my various columns in the magazine(s), and that's helpful as well.

Anyway, back to work for a bit.

Don
 
Quote from Don Bright:

According to one of your posts, if I do the math right, 18 months of about 36 million, so only 2 million a month...
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lol. eric is probably closer to 2M a DAY.

you obviously have no clue who you're talking to.
 
Quote from propseeker:

lol. eric is probably closer to 2M a DAY.

you obviously have no clue who you're talking to.
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You're right, I do seem to be at a disadvantage in this regard. But I don't really mind, the dozens or hundreds I've met from ET generally introduce themselves, tell me their alias if they want to, I don't ask if they don't offer it. I try to respect everyone's privacy.

Hopefully we'll meet some day, or maybe we already have. I try to speak to everyone, in person, on phone, or here, with a respectful demeanor...because you never know who's who.

Don
 
Quote from GGSAE:


For Eric, NYOBscalper and all the others asking about records...seriously are you guys retarded?
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I don't know about Eric but my parents dropped me as a baby.
----

It is clear that very few of those who have been with Don for 5 + years are making more than a McDonalds worker, so when he sells using the longevity angle, without backing it up by mentioning success rates, it's just another sleezy sales tactic.

Now back to watching my positions...
 
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