Bright trading and any thoughts

[.00019orbust]

Quote from Don Bright:

The biggest trader accounts, other than family, are in the 1-4 million range.

Don

i just want to point out how big that is. a few guys like that, and thats more money then is in the sub llc I trade with, i can't be 100 percent sure, but I wouldn't doubt it.

so it doesn't surprise me that I can't get the kind of overnight leverage I could at a firm that was absurdly more well capitalized then my shop....unless of course shop xyz could just drop 10 mill with genesis and get 100 mill bp with .00019 ......(yeah right)

 

[jones247]

Don,

I'm interested in trading an intraday "stop & reverse trend" strategy with your firm. Would I be able to incorporate this strategy without going through your camp or the 3 day seminar?

Thanks,

Walt

 

[tango29]

When you guys talk about your volume, or volume for various commissions are you talking about per trade or round trip? In other words is a buy of 1000 shares with a matching sell of 1000 to close the position considered 1000 in volume or 2000 total towards figuring your daily/monthly volume figures? In futures I've run into firms that quote round trip and a few that quote each side for volume to get to various commission levels.

 

[Don Bright]

Quote from jones247:

Don,

I'm interested in trading an intraday "stop & reverse trend" strategy with your firm. Would I be able to incorporate this strategy without going through your camp or the 3 day seminar?

Thanks,

Walt

We monitor risk, not the actual cash being used or the name of the strategy. So, sure, as long as standard risk parameters are met, and you're making good money, we don't "force" any training. I like to make it all available so that traders can expand their trading horizons if they choose to.

Send a PM if you like.

Don

 

[Don Bright]

Quote from tango29:

When you guys talk about your volume, or volume for various commissions are you talking about per trade or round trip? In other words is a buy of 1000 shares with a matching sell of 1000 to close the position considered 1000 in volume or 2000 total towards figuring your daily/monthly volume figures? In futures I've run into firms that quote round trip and a few that quote each side for volume to get to various commission levels.

Round trips are primarily in futures. If you buy 1000 shares, that's 1000 shares. You may hold it for minutes or months, so that how share volumes are determined. When you sell it, it's another 1000 shares.

All the best,

Don

 

[tango29]

Thank you Don.

 

[Bighead255]

Don Bright is one only people who is on here to talk to "common" traders 99% of us here dream to one day be half as successful as Don yet he's humble enough to answer everyone's questions. Im currently with another firm but the second I have adequate capital Im going to Bright because its good to see a management/owner team that cares so much about their reputation and is so transparent with about their business model. ................ But Don when are we going to get a New York trading office? I mean seriously are we chopped liver?

 

[Don Bright]

Quote from Bighead255:

Don Bright is one only people who is on here to talk to "common" traders 99% of us here dream to one day be half as successful as Don yet he's humble enough to answer everyone's questions. Im currently with another firm but the second I have adequate capital Im going to Bright because its good to see a management/owner team that cares so much about their reputation and is so transparent with about their business model. ................ But Don when are we going to get a New York trading office? I mean seriously are we chopped liver?

<a href="http://www.htmlgens.com/smileys.php"><img src="http://www.htmlgens.com/smileys/blushing.gif"></a>

Gee,making me blush, LOL.

Actually, we have some traders who came over from another Firm that may be opening a location on Broadway. Nothing even close to confirmed yet...but I would love to have another place in NY. We were there for 12 years at 220 Broadway...but when GS moved to NJ, and wanted us to pay something like $30,000/mo. rent, we asked the traders, and we all decided to have them trade at home.

Everyone have a good and SAFE long weekend!

Don

 

[traderbravesfan]

OK everyone - I have questions on interest fees and haircut fees -

Earlier in this thread, Don Bright mentioned haircut fees. Can we assume that a haircut fee is calculated as "extra interest" with the same general logic as described below for interest fees, except using the appropriate haircut rate?

Are interest fees charged on intra-day positions? If I use 30:1 buying power on a basket of 50 stocks and exit the positions prior to end-of-day, will interest be charged? Will haircut fees be charged?

If trading intraday, (and therefore in and out of the positions on the same day) is the calculation based on the amount of time that the position is held? Is the calculation:

Interest fee =
{Annual Interest Rate} * {1 day / 365 days} * {percentage of the day that the position is held}?

For overnights, is the interest fee (and corresponding haircut fees) just rounded to a whole integer time period in days? In this case, is the formula:

Interest fee =
{Annual Interest Rate} * {1 day / 365 days} * {number of days that the position is held}?

Are overnights treated the same as over-weekends (which are 3 overnights and sometimes 4 overnights on holiday weekends)? I.e. are the interest fee and haircut fees larger because of the greater length of time involved? I assume that you've got to have balls of steel and/or damn-near zero brains to take on that much risk...

 

[lindq]

Quote from Bighead255:

Don Bright is one only people who is on here to talk to "common" traders 99% of us here dream to one day be half as successful as Don yet he's humble enough to answer everyone's questions.

LOL! Don's job is to promote his business and attact traders to his firm, at which he does a good job.

As a trader, I don't know that he's ever claimed to be successful.

Don't confuse the two. Because he doesn't. To his credit.