Bright Trading

Avalanche · Dec 6, 2003

Quote from thetraderprofit:

My law firm conversed with SEC and they are taking the position that if your intent is to get around the uptick rule , you are in violation.

Well yeah, but who would ever admit to doing that.

Tell them that you pairs trade and need the conversion to put on the pair at the ratio you need, tell them you arb the stock you have the conversion on with the sector ETF....etc. Give them some legitimate strategy and I bet they will leave you alone.

There is no way IMO that conversions are gonna become be hard to get. It was my understanding that the oldschool conversions done with listed options for any length of time are going to be fine going forward.

Rule36 · Dec 7, 2003

I heard form a friend that the manager of Bright's nyc office is quiting.

I was looking for a firm to join but if the manager is leaving does not sound so good.

If this is true then what is the reason?

What are some other comperable firms to look at?

thanks

36

howellpar · Dec 8, 2003

Rule36 - Folks quit for all kinds of reasons, but, we've heard NONE of the 'integrity' issues ascribed to Bright including - non-return (timely) of trading capital, 'broken' systems, rigid or 'mandatory' trading methods, etc.

My manager here in Phoenix (Scottsdale) 'quit' for a better offer at Andover/Assent a few months ago, he returned in less than 3 months. He had been with Bright for several years, Don and company welcomed him back and he even took over as office manager again.

Bright's a great firm to hang your shingle with, but, they do NOT do so well (outside of Las Vegas) for 'newbie' traders. For EXPERIENCED, previously PROFITABLE traders, I can't imagine a better opportunity.

Good-Luck with your search!!

Don Bright · Dec 8, 2003

Quote from Rule36:

I heard form a friend that the manager of Bright's nyc office is quiting.

I was looking for a firm to join but if the manager is leaving does not sound so good.

If this is true then what is the reason?

What are some other comperable firms to look at?

thanks

36

(Smile)...Since we may combine 2 other firms into our NYC office in January, there may be some changes, but I don't think this is a negative (close smile). Local management may change in Firm our size, but as long as Bob and I are still around, I wouldn't worry about it.

We will be in NYC for a week in February, entertaining our new people and having "meetings" with the "powers that be" - if you you would like to chat before hand, please call me in Vegas 800.249.7488.

Not to worry....NYC looks like expansion time, especially when there are so many traders looking for homes after the collapse of these other firms. We are doing our best to make room for them.

More later as thing progress.

Don

eurextrdr · Dec 8, 2003

READ> (for a fee of course)

LOL they just figured out a "better" way to add more fee's LOL....and if you think using conversions will not be picked up by the SEC, than (as someone else has already said) "your skating on thin ice"....

Don Bright · Dec 8, 2003

Quote from eurextrdr:

READ> (for a fee of course)

LOL they just figured out a "better" way to add more fee's LOL....and if you think using conversions will not be picked up by the SEC, than (as someone else has already said) "your skating on thin ice"....

READ>"Clueless" (just kidding around with you, Mr. Eurex)...

Don

Vaquero · Dec 9, 2003

Questions for Don Bright and all other Pro Firm Managers....Traders...

1) Approximately what percentage of your clients have been profitable every year...?

2) Do you have any traders that do not hold overnights...that are profitable every day...? If so...for a year or more...?

3) How many traders are still clients after a year...percentage...numbers...?

4) Do you feel that the success numbers would improve if
the capital versus expense ratio was more favorable....?

5) Do you think that it is possible to form and maintain a profit based organization....based on trading profits....not front end costs...?

Bob111 · Dec 9, 2003

Quote from Jayford:

I second this. I worked there for a year. Very professional. Many of the guys had been trading a decade or more (San Francisco office).

Jay

question(which been ignored for some reason by Rashke service subscribers) to people,who work with BT-do you make any money? if you do-is it enough for living?(let say you come with 50K-will you be able to make 25-30K per year?). everyone on this board saying-yeah,they good,professional, etc, but what about you in partcular? i read one tread dated by 2001 about guy,who blew couple M even he work in BT for years. how is this happend?
Don said-that he got 80% profitable trades on openings,so what about rest of the crowd? i do understand conception of opening only trades and as far as i understand-there is must be some sort of automatization and very strict set of rules. with it-how one perform better than another? i have my own trading systems, they are coded in WL and VB and there is no room for mistake or error. another words-if i sell it to someone -he will perform exactly same as i did. maybe slightly better or worse,but not from winner to total loser. personally-i'm doing ok, but i stuck with size and execution. as i stated before-too many stocks IB did not let me short,many times i did not get filled etc. for this reason i want to stop by on nearest BT office, and take a look how they doing and maybe join them. but i like to know as much as possible,before this.

Thank you!

Don Bright · Dec 9, 2003

Quote from Vaquero:

Questions for Don Bright and all other Pro Firm Managers....Traders...

1) Approximately what percentage of your clients have been profitable every year...?

2) Do you have any traders that do not hold overnights...that are profitable every day...? If so...for a year or more...?

3) How many traders are still clients after a year...percentage...numbers...?

4) Do you feel that the success numbers would improve if
the capital versus expense ratio was more favorable....?

5) Do you think that it is possible to form and maintain a profit based organization....based on trading profits....not front end costs...?

See the response and questions for you in your other thread. BTW, you won't see any other firm's answering your questions, for obvious reasons.

Don

VOLUME · Dec 9, 2003

Don, the obvious reason other firms don't answer is because they are not sponsors of the website.

If they were to answer, the post would be deleted or the thread closed.