Originally posted by Don Bright
The success of the firm speaks for itself, and I have yet to see anyone come up to the plate with "real" numbers about that (except me)....so, invite your firms to post some reality, if they want to.
As for those who like to babble on with negatives, and personal insults, it just makes me smile a bit.....
Donald, if you ever sit there in that cushy little office of yours, wondering dumbly why you take so much heat on these boards, ie, from real people making real comments (not just some "anonymous posters with a gripe", probably "planted" by your competitors, as you claim), let me tell you, it's comments like the above that fire many of us up.
When you speak of the "success of the firm" Donald, are you talking about the success of your traders, or the success of the firm in signing up new traders? Of the latter, there is no doubt you've been wildly successful. 700 traders is quite an achievement. My hat comes off to you. Seems all that marketing by "attraction" (not "promotion") is really paying off.
If you're speaking of the success of your traders, that's another matter totally. I'll ask you again. Post these freakin legendary numbers Donny Baby, post 'em up! Don't just say you've got 'em up your sleave. POST 'EM! Hehe, it's so simple ain't it? You'd think he'd just come out and do it! But nooo, not the Donster! Too many "compliance issues" eh Don
?
Look, I personally know quite a few Bright Traders that are making money. A couple of them are making very nice money. According to them, it has pretty much nothing to do with anything they learnt in "training" (gee, why doens't that surprise me). Unless the Donster comes out and posts some REAL numbers up that show the success rate of his traders, nobody has any reason whatsoever to believe that a new trader has a better shot at success than anywhere else. (Don, "real" numbers would be, % of new traders making money after one year, % of traders losing money, % of traders who lost all. Nice and easy hey bud? Even you couldn't misinterpet that could ya Donny??)
And, as I've stated a few times before, I personally believe that a new traders chances are actually probably less at Bright. What, with their ancient software, outdated "strategies" like OOs and "pair trading"* (where, according to the Brights (crazy but true!), you keep adding and adding to a losing pair until you either win or blow out - wonderful) and constant pressure to make a million trades a day (otherwise you're not "working hard enough"). Oh brother. From a business perspective, these guys have struck gold. From a trader's perspective, what a pack of arrogant bums.
* at the "training" I attended in July (was forced to attend rather) they showed us this trader that they allege had made $200k in July from pair trading. Obviously this stunt was meant to wow us all into thinking what geniuses trade there at Bright (and get us signing those new trader forms). To anyone with half a brain, of course, the big number is meaningless. How big was the trader's account? How had he fared the other months? (Did he lose $10k a month for the past 6 , before hitting it big this month? etc etc) Perhaps most surprising thing about this story is the fact that this trader previously blew up a $50k account by continuing to add to a single losing pair is talked about in a positive light, as a triumphant success story! It's not shocking that a pack of know-nothing newbies wouldn't understand the patently simple concept of big risk=big rewards ( I have no doubt he had his big July because of making "bet the farm" size bets), but it's mind boggling that the Brights would ignore it.
If readers are wondering, yep, I'm one of those guys that likes to "bumble on with negatives and personal insults". Notice, though, how Don never actually answers the accusation itself? Rather he always tries to deflect the criticism by attributing it to a "sour grapes" ex-trader or competitor? Oldest defense trick in the book. Pity there's always morons that fall for it, no matter how many times they see it.
PS - let me offer a helping hand here Donster, because it seems you just don't "get it". Message boards are a fantastic way for a business to interact with its customers to find out exactly what their needs and wants are and to hear the customer's perspective on your business (which, as any businessman will tell you, is the most important perspective). Donald, you and the Bright brigade have an outstanding opportunity to learn from your customers here on ET, one that other business would KILL for. Yet all the feedback seems to be going to waste, since you don't seem to have any desire to take anything on board, you just sit back and defend what you've already got. Well, I guess you never struck me as the sharpest knife in the drawer.
Note to others: if anyone is inclined to run a stock trading firm, Bright is ripe for overtaking. Trust me, if these bumpkins can set up a successful gig like this, anyone could do it - and, unless they're even more inept than the Brights (scary thought), could probably do it much better.
