Dark storm cloud brewing on payout rules

Quote from Don Bright:

Why can't they make the $millions as independent traders? Heck, that's where we started... admittedly, my brother has made much more, but we both started out independent and stayed that way. A guy with $1million with us cans certainly use that same capital the guy in Chicago can, right?

But, again, you're talking about the cream of the crop of Chicago traders. An overall small number. The majority who don't produce well enough to keep the Chicago firm happy won't last long enough to become profitable as well.

Once again, just different ways to get to the goal.

Don
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Don, it's a function of capital. These guys in Chicago are not trading with a million bucks, some of them are swinging 50 to 100 million in intra-day exposure. Could they have 100 million in buying power from you? I guess on paper they "could". I think I'll go ahead and ask. How many of your guys have a 100 million dollar intra-day limit?
 
Quote from Don Bright:

"Whew...quite a workout Mav, give the old guy a break, LOL"

Maybe time for another ET chat?


Don :)
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Don, I'm trying to get you back to your "fighting weight". It's going to take some work you know. :)
 
Quote from Maverick74:

Don, I'm trying to get you back to your "fighting weight". It's going to take some work you know. :)
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Thanks pal, gotta admire your friendship, seriously.

Call me sometime with any more good news from your end, you have me curious my friend.


Don
 
Quote from Maverick74:



Don, If i asked you a question. Would you rather get 100% of 100k or 50% of 10 million. Which would you choose? Be honest. :)
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OK, you don't have to answer this question. The answer will be implied. :)

Good chat Donny boy.
 
Quote from Maverick74:

OK, you don't have to answer this question. The answer will be implied. :)

Good chat Donny boy.
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You know the answer. I want 100% of $10 million ....

And, "ok" you can have the last word, just be nice... about time for my nap and a movie. Wife wants to see Iron Lady.

Don :)
 
Quote from Don Bright:

You know the answer. I want 100% of $10 million ....

And, "ok" you can have the last word, just be nice... about time for my nap and a movie. Wife wants to see Iron Lady.

Don :)
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Yeah, let me how you like it. Many parallels between Margaret Thatcher and the House of Bright. :)
 
Why is it that when I try to join a prop firm, there comes about new regulations, new licenses, new compliance, the increase in Fee's. I don't understand the differences between partnership memberships and why SubGroups of SubGroups keep seeking new homes to escape all this nuisance? Why do us associate traders have to keep worrying about whether our accounts fall below our initial capital contribution? Or if our firm will still exist tomorrow for us to get back our initial contribution that has to be locked up for a year?


Seriously what is going on here? The Regulators really need to fix this nonsense. I am getting sick of who is CBOE who is FINRA who is registered who is not registered who is a SubGroup of a SubGroup, who is a Class C member who is a Class B member.

What the hell is going on here?
 
Quote from bulllives:

Why is it that when I try to join a prop firm, there comes about new regulations, new licenses, new compliance, the increase in Fee's. I don't understand the differences between partnership memberships and why SubGroups of SubGroups keep seeking new homes to escape all this nuisance? Why do us associate traders have to keep worrying about whether our accounts fall below our initial capital contribution? Or if our firm will still exist tomorrow for us to get back our initial contribution that has to be locked up for a year?


Seriously what is going on here? The Regulators really need to fix this nonsense. I am getting sick of who is CBOE who is FINRA who is registered who is not registered who is a SubGroup of a SubGroup, who is a Class C member who is a Class B member.

What the hell is going on here?
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Tell me about it, LOL. We've been pretty much the same since the S7 was insituted about 12 years ago. No 12 month hold, only class b (as traders). No sub-group, everyone is a member of Bright Trading. Less than PDT to start. We do start watching closely if you happen to lose a bunch of money. We do our best to protect traders from themselves. Risk control. No worries about your money withdrawals, once a week if desired.

All the best,

Don
 
Quote from bulllives:

What the hell is going on here?
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People are blowing up all over the place, leaving behind bag holders. Some of it legit blowups, some of it orchestrated fraud.

I'm not convinced modifying the payouts is the way to go, though. The root problem is too much allowable leverage. Dial that back, and a lot of the issues ameliorate themselves into background noise.
 
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