Bright Trading

[Dr. Zhivodka]

Ok whizz,

I welcome healthy debate but you're really going to have to brush up on your reading comprehension.

...especially desk fees

Point out to me where I mentioned "desk fees." You won't find it.

Hell newbie, even when was there they rebated the desk fee even for the most pedestrian of volume. It's just not an issue that I raised.

One thing that is imperative in conversation as well trading is focus. You must focus on who said what, otherwise you show lack rigor and weakness of thought.

You want to talk to me? Then fine let's talk. But at least be relevant and don't waste my time as a Bright sycophant.


Dr. Zhivodka

 

[OHLC]

Originally posted by Dr. Zhivodka
4) Their fees, specifically the "haircut" charges are exorbitant as compared to other firms

Desk fees are fees.

One thing that is imperative in conversation as well as trading is memory. You must memorize who said what, otherwise you show lack of rigor and weakness of thought.

OHLC

 

[MrDinky]

Originally posted by BankerBlueChips
Don't be surprised if he puts coin machines on the bathrooms stalls and you gotta pay a quarter to take a crap for extra revenue.

As a result of reading this post I am now putting a poker machine in the john. If someone hits a royal I'm gonna be pissed! (I still haven't, yet.)

 

[Dr. Zhivodka]

Had I meant desk fees, I would have said desk fees.


But since you mentioned it, here's another story:

We walked in one day and the "home office in Vegas" had cut off of all Nasdaq and AMEX quotes for everyone in the office. No memo, No warning, No heads up. No matter if you had a position on or not, didn't matter no quotes.

Just F-off, no quotes for you!!

To their credit they didn't screw my quotes as I was doing bunches of Nass-dog and AMEX as well NYSE. But I was only one in the office with live quotes for anything other than NYSE. That is a FACT JACK!!

But can you imagine? To walk in and be hosed by your own firm, like the market is not tough enough.


Oh yeah, I got lots of stories. Don't tempt me.

Regards,
Dr. Zhivodka


BTW: I love that post above about Eddie Franco riding around the country in a plane doing Tech Support. ROTFLAO!!!! I had forgotten about that.

Can you just see Eddie flying out from Chicago to Paducah or Vancouver or some other place for some hung ISLD orders or some bullshit quoteserver side(they wouldn't what this means) problem like that..(as he is getting his fight plan and then rolling down the runway)... "Don’t worry I'll be right there to unstick those orders.... and ... remember ... REDI+ is a great platform from the biggest clearing firm in the world!!!"

 

[sdtrader]

Originally posted by Dr. Zhivodka
Had I meant desk fees, I would have said desk fees.


But since you mentioned it, here's another story:

We walked in one day and the "home office in Vegas" had cut off of all Nasdaq and AMEX quotes for everyone in the office. No memo, No warning, No heads up. No matter if you had a position on or not, didn't matter no quotes.

Just F-off, no quotes for you!!

Same thing happened to me at a firm last year. No Nasdaq, no Amex and in addition NO NEWS. After missing the Consumer Confidence # that morning we got a hold of the "decision" maker. According to him...it was not important we knew the numbers throughout the day. What a PUTZ. I understand cutting costs, but to cut the news with no warning and then telling the trader news was not important...............
As a solution we had the option of paying for the news in addtion to the $900 desk fee, the $200 equipment fee! Yipee...how stoked were we.

 

[Bryan Roberts]

Originally posted by andrasnm
technology. Hmm... But I wager a dollar for a doughnut that all prop firms have shortage in the tech support arena and if things break you are SOL!
Everywhere - capici?
..and that is the reason I trade index funds and only trade long term. I would trade futures if I could trade in the chicago board of trade or in the Merc [upstairs] like so many futures traders.

Andrasnm,

who said anything about pac bell????? you said "that all prop firms have shortage in the tech support arena and if things break you are SOL" when i was with Bright that was definitely the case. plus, i still had to pay a desk fee of $600 and got nothing for it. but the firm i am with now has awesome tech support for remote traders.....this has nothing to do with local connectivity. most traders do well with dsl and cable modem back up.

 

[rtharp]

Originally posted by MrDinky


As a result of reading this post I am now putting a poker machine in the john. If someone hits a royal I'm gonna be pissed! (I still haven't, yet.)

What about having a Royal flush in the john?

 

[jeffgus]

I will be waiting for a quick response from Don....... I have an additional 6-7 stories about Bright...........and Don, When I went to leave your firm, YOU, told me that I would have to wait 12 months to get my capital contribution back. Well, I called your brother, Bob the next week (you were on vacation) and he wired my funds the next day......At lease one of the brothers has a conscious.

 

[lidodido]

Jeff, no doubt you've got more stories on Bright.

Notice how nobody ever comes on this site, that's traded in more than one place, saying how great bright is and how happy they are they are with Bright? No one.

Notice how you never hear of stories where a trader leaves another firm to JOIN Bright. It's always a trader LEAVING Bright to join another firm.

Press their own traders and they'll admit that Bright is, at very best, merely adequate. Not one of them will claim REDI is actually GOOD, merely adequate. Not one will say their deal is GREAT, merely adequate.

Don Bright is one of the greatest bullshit artists to ever sell a trading firm. To those of you who think that Don is here to help anybody out, you are in dire need of taking your head out of the sand. Don's sole mission on coming to these boards is to recruit people for his firm. Why do you think he puts so much emphasis on Opening Orders? Because you basically need a prop firm's leverage to execute that strategy and Don hopes that you'll favor HIS firm since he introduced the strategy. NOT because it's some great money maker, NOT because Don's just sharing out of the goodness of his heart.

I have personally caught Don in the middle of so many outright untruths that I could write a book on it. If, after doing a search of the archives of Elite Trader, anybody chooses to believe Don's claims, he deserves everything he gets.

 

[momotrader]

Originally posted by andrasnm
technology. Hmm... But I wager a dollar for a doughnut that all prop firms have shortage in the tech support arena and if things break you are SOL!

I couldn't resist this one...

I just love these Bright Trading threads. Bright was on my very short list of firms to check out when I finally made the jump from trading prop to trading my own money, but after reading everything on this board about Bright, I was spared the mistake of wasting my time even visiting a firm that would be inadequate for my needs.

The Momentum office I worked at in NYC had 2 full time tech support guys catering to our every whim. Stuck orders? On it. Quotes down? On it. Quotes stuck? On it. System slow? On it. Bad or erroneous fills? On the phone to the counter party to try to break the trade. Hell, if the system went down without warning (which was rare), and you were stuck in a position, they would sometimes even refund your loss if they found it was their fault. SOL? I think not.

I trade at Heartland now, in a smaller office, but we also have a full time tech here. He does everything the guys at Momentum did, and more. Heartland's system is undoubtedly faster and more stable than any system I've traded on thus far. Some firms actually care about, and take care of their traders.

So now that you've been shown to be completely wrong about "all prop firms" having a shortage in tech support, are there any other "shortages" that Bright has that you would like to justify by claiming all other prop firms have the same problem?