Don Bright 2.0

[CQNC]

Quote from ScalperJoe:

Good point. Although I agree with many of Don's posts, there has to be a transition point from the "100-500 share lots" to using the "million or so" of capital. Is it based on consistency of profits, is it based on the ability to properly manage risk, etc.

Still, starting out with $50k is a big step up from $10k, LOL!

I think we're missing the point that whatever capital is alloted to a trader, they should never be using 100% of it in any direction, or not at least 20% in reserve buying power (sometimes higher, depending on the direction of the majority of open positions) to anticipate a reversal, average down, or increasing a position on a correct call.

And whether it's 50K trading 100-500 shares, or 1M trading 1000s, the total amount of turnover in a day can vary dramatically depending on a trader's method. I could do two trades with 1M on AAPL alone for 1500 shares in and out, versus trading 500 shares 50 times in a day in and out on a $10-15 stock.

It's all relative. I actually prefer less capital than more, but then, I prefer to live dangerously and trade the big name techs, and they ain't cheap, but the move like bitches on fire when they spark.

 

[Fractal]

Quote from CQNC:

I'll take the woman, Mav can have the beer. Merry Christmas.

You definitely went long the dollar on that trade.

 

[Don Bright]

Quote from ScalperJoe:

Good point. Although I agree with many of Don's posts, there has to be a transition point from the "100-500 share lots" to using the "million or so" of capital. Is it based on consistency of profits, is it based on the ability to properly manage risk, etc.

Still, starting out with $50k is a big step up from $10k, LOL!

Keep in mind that "using capital" is not necessarily "leverage" or margin. Sending in 30 buys and 30 sells on 30 stocks, pre-market for the opening gap - knowing full well that you likely be filled on only the extreme 3-5 stocks....."uses" capital of maybe $500K to try to make about $500 or so, and is not actually "risking" the $500K.

Placing enveloped orders, layers if you will, may "use" capital, while not actually risking capital.

Just to clarify why "using capital" can enhance your trading profits, while not actually adding to risk.

Don

 

[Maverick74]

Quote from Don Bright:

Keep in mind that "using capital" is not necessarily "leverage" or margin. Sending in 30 buys and 30 sells on 30 stocks, pre-market for the opening gap - knowing full well that you likely be filled on only the extreme 3-5 stocks....."uses" capital of maybe $500K to try to make about $500 or so, and is not actually "risking" the $500K.

Placing enveloped orders, layers if you will, may "use" capital, while not actually risking capital.

Just to clarify why "using capital" can enhance your trading profits, while not actually adding to risk.

Don

Except that day when 200 orders all get filled and they all go against you. Of course Don that is a 10 sigma event that only happens once every 25k years.

 

[Don Bright]

Quote from Maverick74:

Except that day when 200 orders all get filled and they all go against you. Of course Don that is a 10 sigma event that only happens once every 25k years.

Yeah, mine happened only once - (yes, I'm copping to it)... I was in our Reno office, trying to motivate them about the opening play back in 2001 (no, not 9/11)...after 9/11 - I had turned off our communcation line with the main office so that I would have everyone's attention (bad move it turns out, LOL)...well, there was an "incident" in NYC involving another plane, right before the opening....my Vegas team had alerted everyone to cancel their opening orders....I missed the memo as they say, choosing to have my Reno traders focusing on me....LOL.

Well, I got filled on only 100% of my buy ordes - about 25 or so at that time...definitely a "oh Sh##" moment....I'm glad to report that after showing down about $10-$12K - that they found out there was no threat, and everything came back to a profit....LOL

So, I guess I'm good for another 25K years, right?

Don

 

[Lucias]

Does Don B only talk to maverick? Does Bright still offer 100% payout? The 100% payout was your big sales pitch. What are you offering now? Why do you charge remote desk fees?

 

[Don Bright]

Quote from Lucias:

Does Don B only talk to maverick? Does Bright still offer 100% payout? The 100% payout was your big sales pitch. What are you offering now? Why do you charge remote desk fees?

Feel free to call to discuss all of this, there are variables involved. We can chat about our business model.

The "desk fee" pays your NYSE exchange fees and Level 1 data flow from there as well. And, is rebated back fully at only 200k shares/mo. This may seem like a lot to some, and I realize that some trade part time, but many find that they trade that much or more when given a few tools and strategies.

702.739.1393 - mid tradng day is usually a good time.

Don

 

[Maverick74]

Quote from Don Bright:

Feel free to call to discuss all of this, there are variables involved. We can chat about our business model.

702.739.1393 - mid tradng day is usually a good time.

Don

 

[CQNC]

Mav, show me where you've read their financials on capitalisation. I can't find them on SEC.gov.

Quote from Maverick74:

The reason they are starting guys at 50k in capital is because they don't have any. Their capital is limited and it's safer for them to spread it over over 10 to 20 guys then too give one guy all of it. Trading a 50k account with a 60% payout is the same as getting a 100% payout on a 30k account. You can't make a living on that. I advised this guy to give you a call. [/B]

 

[Arthur Deco]

You who speak of needing huge capitalization to make a living do a grave injustice to small players who believe they can make it with $50K trading futures. One presumes that is because YOU can't do it.