You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
"Bright Trading"
- Thread starter habari
- Start date
Originally posted by habari
I was looking for answers to which prop firms to send my application to. Don Bright had nothing to do with this thread; I am just amazed how it took off from my simple request for input on prop firms. But I cannot see that after 17 pages I am any better off in judging between firms. The real traders with experience just do not seem to stand up and be counted; only those who seem to have gotten burned havet eh loudest voice.
This is intelligent gambling but it is gambling--don't cry if you go to the casino and end up losing--you went there knowing that.
Thanks for posting this. What you say about risk is correct. You're also correct in that you don't see near the "positive" posts as you do the "vocal minority" ("posting minority" in this case).
Anyway, if I can help, let me know...and at least we all got some good tax info!!
Don
Originally posted by habari
The real traders with experience just do not seem to stand up and be counted; only those who seem to have gotten burned havet eh loudest voice.
I switched over to Bright remote in May. So far here are my thoughts:
Pro's:
-good support, even for remotes.
-so far Redi has been reliable as far as downtime.
-they make training available at any time (Vegas!)
-you have the option of visiting any office around the country to learn new methods (and write off the trip).
-the Bright "morning call" on Pal Talk is helpful.
-a basic, but helpful open-only spreadsheet is provided to automate order entry.
-for remotes they have just provided a spreadsheet with the following: fair value calc with audio alerts for prog buy/sells; an automated pivot point calculation; a helpful pairs spreadsheet, OPG price calculator for those who want to enter orders manually.
Con's:
-compared to Cybertrader or Realtick, Redi is "clunky".
-since Redi lacks some important features you need to pay for another quote provider (Qcharts, ESignal, First Alert, etc)
-it would be nice for the bullets to be integrated in Redi somehow rather than a different program.
-you have to pay for access to Nasdaq and Amex feeds. (this is the most annoying to me)
Overall I would recommend Bright to anyone I knew. Although Redi is sub-par any experienced trader can adapt, and the con's I pointed out aren't that bad.
Originally posted by Bryan Roberts
WOW!!!! what a surprise!!!! they changed the name of the thread.... Don, you have two more wishes. Can i make a suggestion for one? Ask for the volatility in the market to continue. And i don't want to push my luck here but maybe peace in the mid east would be nice!!!!
Oh the power of a paid sponsor! I have to admit, I also am a bit surprised that Baron allowed the name of the thread to be changed.
It went from "Why are people so against bright?" to "Bright Trading." because as Don said, "it took on a life of its own." So why is it not now named "Tax Advice from a Green Tax Guy" since that is where it is now???
PS - Don, I don't think that previous title was bad for you, it seems like it was an opportunity for your guys to counteract the criticisms.
I started this thread. I have not started prop trading yet; working on Series 7. So In know nothing about any of the intrigues and don't want to.
I am an individual, not part of some cyber mafia gang. The thread grew accidentally it seems--I expected couple of replies.
You are disturbing the established tone of this thread with your personal vendetta against who you lost money with.
Do us all a favor and keep your paranoia to yourself as to who is behind this thread., I do not know Don Bright at all and he does not know me.
SO SHUT THE F UP
I am an individual, not part of some cyber mafia gang. The thread grew accidentally it seems--I expected couple of replies.
You are disturbing the established tone of this thread with your personal vendetta against who you lost money with.
Do us all a favor and keep your paranoia to yourself as to who is behind this thread., I do not know Don Bright at all and he does not know me.
SO SHUT THE F UP
Ok, i've got one for Mr. Bright.
This is not an attack, I am just looking for answers here because I would like to be a pro trader instead of an amateur working a day job. This actually applies more to other firms where the firms capital is being traded exclusively ( worldco, schonfeld, etc. )
How do you justify closing out a winning position just because it is the end of the day? All of my large winners to date have at least been overnight holds. And one thing I know is that a trader neeeds the occasional big winner.
This is not an attack, I am just looking for answers here because I would like to be a pro trader instead of an amateur working a day job. This actually applies more to other firms where the firms capital is being traded exclusively ( worldco, schonfeld, etc. )
How do you justify closing out a winning position just because it is the end of the day? All of my large winners to date have at least been overnight holds. And one thing I know is that a trader neeeds the occasional big winner.
Bryan Roberts
Guest
Originally posted by habari
I started this thread. I have not started prop trading yet; working on Series 7. So In know nothing about any of the intrigues and don't want to.
I am an individual, not part of some cyber mafia gang. The thread grew accidentally it seems--I expected couple of replies.
You are disturbing the established tone of this thread with your personal vendetta against who you lost money with.
Do us all a favor and keep your paranoia to yourself as to who is behind this thread., I do not know Don Bright at all and he does not know me.
SO SHUT THE F UP
BTW, you just insulted a profitable veteran trader. judging from the number of post(6) you have made, maybe you should re-think your comments.
Originally posted by dotslashfuture
Ok, i've got one for Mr. Bright.
This is not an attack, I am just looking for answers here because I would like to be a pro trader instead of an amateur working a day job. This actually applies more to other firms where the firms capital is being traded exclusively ( worldco, schonfeld, etc. )
How do you justify closing out a winning position just because it is the end of the day? All of my large winners to date have at least been overnight holds. And one thing I know is that a trader neeeds the occasional big winner.
We encourage "winners to take home winners" if they like....we just don't encourage "taking home losers". Many of us take home positions every day. We have no policy about this, every trader makes up his/her own mind about overnights.
Another "urban myth" thanks for asking so I could clear that up.
Our traders make up their own minds (obviously within certain regulations) ...and we do our best to stay out of it.
Don
I changed the name of the thread. I did it because the thread evolved into something that had nothing to do with the previous title. I asked no one for permission to change the title. There is no conspiracy to oppress the opinions of anyone, the thread title had nothing to do with the majority of useful content in the thread. Now, instead of questioning the cosmetic change made to the thread, why not post something of value?
Habari,Originally posted by habari
I was looking for answers to which prop firms to send my application to. Don Bright had nothing to do with this thread; I am just amazed how it took off from my simple request for input on prop firms. But I cannot see that after 17 pages I am any better off in judging between firms. The real traders with experience just do not seem to stand up and be counted; only those who seem to have gotten burned havet eh loudest voice.
I think you make an excellent point here. If you want my opinion, you can be happy at virtually any firm if you are doing well. Now I realize that this sounds trite, and certainly won't help you to make a decision as to where the best place to start is. But I don't think there is any real concise answer.
If I were in your position, as many apparently are, I would do what has been suggested here many times. "Interview" the different firms. See what they have to offer. How you feel about the people you will have to deal with on a day to day basis. What kind of training is offered. Talk to traders and see what they feel. How they rate the training and everything else.
There will always be trade offs. Some places may have better equipment, some better training, some better atmospheres, payout, capital requirements, etc., etc. It becomes a personal issue to resolve, and therefore, you can't get a definitive answer by posting the question here. You will, however get feedback that you can assess as you see fit.
Are you better off with a 100% payout or a 2% payout? Well it doesn't take a math genius to know that the answer to this is dependent on too many factors to list.
You will most likely never be 100% positive that your decision will be the best you can make. But nothing is forever. If you learn to trade, you can always go somewhere more suitable to you after some time. And what is suitable to you won't necessarily be suitable for the next guy.
The main thing is to just get started. Once you do, you will be able to evaluate different deals and different firms based on your own experience. Picking a firm is like initiating a trade. You need to make an opening move. You hope it is a good one, but in the long run, it will be a learning experience at worst.
PS:
I have no idea why you addressed this to "jim"....I didn't detect any "paranoia" or "vendetta" in his tone.Originally posted by habari
You are disturbing the established tone of this thread with your personal vendetta against who you lost money with.
Do us all a favor and keep your paranoia to yourself as to who is behind this thread.,
SO SHUT THE F UP