Bright Trading

[Dr. Zhivodka]

Originally posted by proptr8r
I hope Bright comes down with their commission rates...

Impossible

It's a simple issue; Bright can't come down too far on their rates because they still bend over for FOC/GS clearing services. Even though, Eddie Franco still has a very significant back door to FOC/SLK and by extension GS, at some point their ability to remain competitive is limited because of too many hands trying to grab too many fraction of a penny. They think it is still the early '90's

Bright would have to go self-clearing and develop their own front-end interface to even think about becoming competitive. And we ALL know that ain't gonna happen.


Dr. Zhivodka

 

[daniel_m]

Originally posted by Yannis

In other words, imo, the 10 percentage points that firm A is ahead, represent 25% of the final count of firm B.

sorry to post this reply here, and "belabor the point", but just to show that, deep down, what a reasonable guy i am, i want to say yes, you are right. i stand corrected. freakin unbelievable how all this time i failed to see that ! (and it is so obvious too! idiot! )

 

[Free Thinker]

Originally posted by Dr. Zhivodka

Impossible

It's a simple issue; Bright can't come down too far on their rates because they still bend over for FOC/GS clearing services. Even though, Eddie Franco still has a very significant back door to FOC/SLK and by extension GS, at some point their ability to remain competitive is limited because of too many hands trying to grab too many fraction of a penny. They think it is still the early '90's

Bright would have to go self-clearing and develop their own front-end interface to even think about becoming competitive. And we ALL know that ain't gonna happen.


Dr. Zhivodka

maybe bright is smarter than most think.in business the worst thing you can do is get into a situation where you have to compete on price only.that is called a commodity business and when times are tough your margins are always getting squeezed and many go out of business.it is far better to run a business where you can price on service.your margins would be much better in that case.700 traders tells me that they are doing something right.
some may not like it that bright isn't the rock bottom in fees.this is america we vote with our feet.if your not happy go somewhere else or better yet start your own firm and reap all the benefits of those fees that you feel are too high.

 

[GHJ]

Originally posted by vhehn


maybe bright is smarter than most think.in business the worst thing you can do is get into a situation where you have to compete on price only.that is called a commodity business and when times are tough your margins are always getting squeezed and many go out of business.it is far better to run a business where you can price on service.your margins would be much better in that case.700 traders tells me that they are doing something right.

Prop trading is already a commodity business. No one in this industry has any groundbreaking competitive advantages. Even if Bright lowered its rates the only people they'd draw are rookies that want their "training" and starting deal. I've said this before; Bright has NO competitive edge besides capital--and if people need that, they should be prepared to pay a bit more. Maybe that's Brights niche? If technology is your criteria then go elsewhere because Bright can't compete with REDI+.

 

[Free Thinker]

Originally posted by GHJ



Prop trading is already a commodity business. No one in this industry has any groundbreaking competitive advantages. Even if Bright lowered its rates the only people they'd draw are rookies that want their "training" and starting deal. I've said this before; Bright has NO competitive edge besides capital--and if people need that, they should be prepared to pay a bit more. Maybe that's Brights niche? If technology is your criteria then go elsewhere because Bright can't compete with REDI+.

well then in effect your saying brights 700 traders must be clueless idiots.i doubt that.
i agree with don on this point.technology isnt the most important thing in trading.the best intraday traders i know dont use anything fancy as far as software goes.most just use plain charts with one or two simple indicators.its more of a gut feel or maybe you could call it pattern recognition that is what makes them good.

 

[felichka]

You have to try different things to know if you need it. I was using REDI for long time and thought it is the best but simply did not know any other system. Now I am using hot key oriented order system and think it is superior to REDI because it is faster. My point is unless you try and compare you will never find out what is good for you.

 

[GHJ]

Originally posted by vhehn


well then in effect your saying brights 700 traders must be clueless idiots.i doubt that.
i agree with don on this point.technology isnt the most important thing in trading.the best intraday traders i know dont use anything fancy as far as software goes.most just use plain charts with one or two simple indicators.its more of a gut feel or maybe you could call it pattern recognition that is what makes them good.

Vhehn,

How did you distort my statement to suggest that I think Bright's traders are idiots??? Get hooked on phonics and reread my post.

All I'm saying is that their traders are either too complacent to go elsewhere; need the buying power; or need the training and starting deal. That's Bright's niche.

Regarding technology, anything that saves a second (or fraction of a second) in the heat of battle makes a great trader better. Period. It takes superior technology to do this.

 

[jem]

Don, now I can see why you take so much heat, you have a nasty streak. Your allusion to sub llc types... "post numbers just to lure away traders" is annoying. I wrote a longer post but I really do not want to get into it.

I suggest we maintain the status quo.

 

[esc_trader]

Does the fact that a firm has several hundred traders mean that they have the best traders, or the best salespeople?

 

[Free Thinker]

Originally posted by esc_trader
Does the fact that a firm has several hundred traders mean that they have the best traders, or the best salespeople?

it means 700 people think bright is where they want to be.and since any one of them could walk out the door at any time bright must be doing something right. simple as that.