Bright trading new commission model

marc lehman · Jul 2, 2003

I got a call from a guy at Bright Miami Bch that said that they were charging .0025(2 1/2 tenths) for NYSE stocks. Let the competiton begin fellas. I can't wait to see all the other firms jumping into the mix . Looks like Fanco and the Bright boys are going to just try to capitalize on volume to make up for the margins. If Mr. snake oil himself would have focused on retail business he would have never had this problem. But instead he will ruin the prop business model!!!

Rumor has it that they lost 4 guys from Miami Bch and have closed down Boca.

Can you elaborate Donny B.(when your sober enough)?
Can you also talk about why people lose their series 7 affiliation because you don't register them with the NASD?

Oh yeah , free drinks with the .0025 rate.

Marc Lehman

.

nitro · Jul 2, 2003

Quote from marc lehman:

I got a call from a guy at Bright Miami Bch that said that they were charging .0025(2 1/2 tenths) for NYSE stocks. Let the competiton begin fellas. I can't wait to see all the other firms jumping into the mix . Looks like Fanco and the Bright boys are going to just try to capitalize on volume to make up for the margins. If Mr. snake oil himself would have focused on retail business he would have never had this problem. But instead he will ruin the prop business model!!!

Rumor has it that they lost 4 guys from Miami Bch and have closed down Boca.

Can you elaborate Donny B.(when your sober enough)?
Can you also talk about why people lose their series 7 affiliation because you don't register them with the NASD?

Oh yeah , free drinks with the .0025 rate.

Marc Lehman

.

Well,

I will leave it to Don to reply. Until then, this is from the horses ass, not the horses mouth.

nitro

Don Bright · Jul 3, 2003

Quote from marc lehman:

I got a call from a guy at Bright Miami Bch that said that they were charging .0025(2 1/2 tenths) for NYSE stocks. Let the competiton begin fellas. I can't wait to see all the other firms jumping into the mix . Looks like Fanco and the Bright boys are going to just try to capitalize on volume to make up for the margins. If Mr. snake oil himself would have focused on retail business he would have never had this problem. But instead he will ruin the prop business model!!!

Rumor has it that they lost 4 guys from Miami Bch and have closed down Boca.

Can you elaborate Donny B.(when your sober enough)?
Can you also talk about why people lose their series 7 affiliation because you don't register them with the NASD?

Oh yeah , free drinks with the .0025 rate.

Marc Lehman

.

Well, hmmm?? As usual, bogus information from a obviously mis-informed, non trader who has an agenda. I don't know what kind of weed or crack you're smoking....but you certainly don't have a clue (about anything mentioned above). At least I can "sober up" if need be,.....recovering from stupidity is a much more difficult task.

Get a life!

Don

marc lehman · Jul 3, 2003

Sorry Don but your an out right liar. You are just afraid that your whole firm (every office) will see that you're giving away these .0025 rates with over a million shares in volume. Why don't you respond correctly.

DID 4 OF YOUR TRADERS LEAVE FROM MIAMI BEACH OFFICE? DID YOU JUST LOWER YOUR RATES IN MIAMI? DID THE BOCA OFFICE CLOSE? DO YOU TRADER'S HAVE THEIR LICENSE HELD WITH THE NASD? WILL THEIR LICENSE EXPIRE AFTER 2 YRS FROM TAKING THE SERIES 7 BECAUSE YOU DON'T HOLD THEIR LICENSE?

ANSWER THE QUESTIONS. TELL THE TRUTH.

I WILL SHUT UP WHEN YOU ANSWER THE QUESTION'S CORRECTLY. I HAVE GOTTEN 6 PM'S FROM YOUR TRADERS ALL ACROSS THE COUNTRY. SHOULD WE HAVE BARON READ THEM TO YOU?

Monsoon · Jul 3, 2003

thanks for the VERY constructive thread which has TREMENDOUSLY helped me become a better trader..... I am SO glad you did this in a thread rather than personally attacking someone in a PM.

/sarcasm off

rtharp · Jul 3, 2003

Quote from marc lehman:

Sorry Don but your an out right liar. You are just afraid that your whole firm (every office) will see that you're giving away these .0025 rates with over a million shares in volume. Why don't you respond correctly.

DID 4 OF YOUR TRADERS LEAVE FROM MIAMI BEACH OFFICE? DID YOU JUST LOWER YOUR RATES IN MIAMI? DID THE BOCA OFFICE CLOSE? DO YOU TRADER'S HAVE THEIR LICENSE HELD WITH THE NASD? WILL THEIR LICENSE EXPIRE AFTER 2 YRS FROM TAKING THE SERIES 7 BECAUSE YOU DON'T HOLD THEIR LICENSE?

ANSWER THE QUESTIONS YOU BIG UNSHAVEN OUT OF SHAPE FAT LIAR!! TELL THE TRUTH FOR ONCE IN YOUR LIFE. ALL YOU ARE IS A SELF PROMOTING ,COULD CARE LESS ABOUT YOUR TRADER'S BUSINESSMAN.

I WILL SHUT UP WHEN YOU ANSWER THE QUESTION'S CORRECTLY. I HAVE GOTTEN 6 PM'S FROM YOUR TRADERS ALL ACROSS THE COUNTRY. SHOULD WE HAVE BARON READ THEM TO YOU?

just for clarification for others.

on the Series 7 license. If it is not kept active with the NASD it expires.

But with a lot of prop firms the exchange the prop firm belongs to holds it.

If somebody wanted to join a NASD firm later on. They will have to deal with the NASD. It can be a pain but it depends on the situation. Usually just a letter from the exchange saying they were holding the license will suffice to having it reactivated.

For me personally having my license held at the Pacific Stock Exchange when I was at another firm. The NASD required that I pass the Series 55 (which is required anyhow for NASD prop firms) before they would reactive my 7. It changes though case by case on what they would require you to do.

On commissions I don't know what is going on with Bright, but would imagine Don would be aware of their commission structure.

Boca may have closed who knows but it is still listed on the website.

On guys leaving, well that happens all the time in the industry.

Robert

Avalanche · Jul 4, 2003

Quote from rtharp:

On guys leaving, well that happens all the time in the industry.

Robert

Did you leave andover/assent recently? you seemed to be one of the more knowledgeable posters and I haven't seen you post in a while?

thanks.

OVERtheLINE · Jul 4, 2003

Quote from Avalanche:

Did you leave andover/assent recently? you seemed to be one of the more knowledgeable posters and I haven't seen you post in a while?

thanks.

word on the street is robert is a worker at the new ball park in san diego, I only wish I could have taken the other side of his trades the last year or so.

btw,, avalanche how are you doing? R U using gr8 soon?

Don Bright · Jul 4, 2003

First off, I want to apologize to the good people on this board ....for reacting to this silly comment in a derisive manner. That being said, I will defer to my friend, Mr. Tharp's comments about the registrations and the fact that people to move around. If I were to "crow" for every new trader we get at BT, then I would have no time left for serious business.

BT is extremely competititve with our rate structure, and our friends at Generic (yes, believe it or not, the people that run most of the firms are friendly competitiors, not crazed zealots), have offered some very low numbers....which we may choose to, or not to, match. This is just the way the business works.

Again, I apologize for being a bit harsh in my initial response.....but then again, what the Hell.....

Anytime that anyone on the board wants to discuss the industry, Bright Trading, or anything else pertaining to the markets....I will be glad to participate.

Now, let's all enjoy a great Holiday weekend!! And thanks for getting the Bright name up on the top of the thread again.....I appreciate the support!!

Don

rtharp · Jul 4, 2003

Quote from Avalanche:

Did you leave andover/assent recently? you seemed to be one of the more knowledgeable posters and I haven't seen you post in a while?

thanks.

No

I haven't left Assent. I still have an account with the San Diego office. Guys are trying to portray on this message board I'm suffering or something. That's funny.

I decided to take a break from trading for a few months. I had taken some hits with the opens due to some errors in a modified spreadsheet. Than the Lynx method of trading soon turned sour on me as it works well in a bear market not a flat market.

I owned a few limited partnerships and was able to sell one of them back to the other partners for a 300% return. It made my year.

I had some reservations about daytrading in a bear market. Most bears last a lot longer than 3 years and considering we had a 20 year bull I decided I better get a back up plan in case the market gets really weak. What if the bear last an entire generation or even two volume dries up to 1/50 of what it is now and ranges get to .02-.05 a day? It is possible and I realized I didn't have a plan for this. My other sources of income (side businesses ) have dried up recently and I became rather worried.

Now the interesting thing was soon after I took a break. The Bear market rally happened. The San Diego Assent office has gotten wind of a few great strategies and has been killing it lately. I've been hearing from JWKirkland nonstop about that I need to start trading immeadiately. 80% of the office is now taking out withdrawals from their accounts due to profits. The volume of the San Diego Assent office is now larger than the entire volume of a few of the prop firms that advertise on this message board. I'm not about to start trading actively in the summer months. I'd also like to see how the office performs if we hit a new low. For now I'm just having fun enjoying life, and swing trading.

As for posting on this board. I've been on this board for awhile. I remember when there were 50 or so regulars who would share ideas and help others. All I see now is bashing and complaining. It's a much different board than when I had originally joined it. I don't see lots of value coming from this message board lately so I do not see lots of reasons to hang around much.

Quote from OVERtheLINE:

word on the street is robert is a worker at the new ball park in san diego, I only wish I could have taken the other side of his trades the last year or so.

Overtheline

I wish you did take more of the other side of my trades considering 90% of the time I'm gross positive. Hope you have a great summer.