Don Bright's system
- Thread starter dpg2020
- Start date
Simply give you...?
There's some help on the way, but you've got to do the homework yourself
to extract the succinct and few available finer OO points already here on ET.
Your fellow ET member, lescor, is just one example of a disciplined trader
who took Don's original pointers to heart, and, over time
traded his constantly adjusted and tweaked OO homework, to where
he has become one of the most consistently and demonstrably successful
Opening Orders traders and overall traders here on Elite Trader
- befitting Baron's goal of providing a venue for serious traders to excel.
Right, Mike?
Another ET'er, probably more your age, is already showing other seasoned,
open-minded traders how to successfully trade paired stocks at the Open.
So, there's a really lot to make the most of here on ET, dpg
- just combine some real-world 20-20 with good old-fashioned diligent work!
You can do it.
Quote from Don Bright:
Now Mike, you know that our groups make $millions with stategies that you've not seen.
And, as for me, I'm keeping plenty busy with my Portfolio Watcher with dozens of pairs....geez, almost like working (with all the homework necessary, LOL).
All the best...
Don
Still waiting for that royalties check....
regrettably, even being one of the fold, one does not get to learn or benefit from those strategies and be able to
repeat the success of others so that they too can become millionaires through the Bright systems..
after all that's why one goes through all the effort to associate oneself with such a successful firm...
glad to know that its working for you though....
Why would we limit our traders? As far as what's working currently, you only have to look to PairCo...with 2 guys now backing 40+ traders with their own money, it speaks volumes to me. In any business, you have to seek out the edge....and I know full well, that you know all of this.....
I really think that we are probably the only firm with so many options available to our traders...including forming groups (with or without the Bright name)...and the continuing training seems to be paying off pretty well.
All the best,
Don
NYSE,
I laughed when I read your comments:
"Your fellow ET member, lescor, is just one example of a disciplined trader
who took Don's original pointers to heart, and, over timeons ..."
Corey sure did not learn opening orders from Don, nor is it Don's system. I sat next to Corey in 2000 when he started to work on opening orders, and he turned to a couple other traders for insight, etc.
But, I do agree with you that he has taken it to a super duper level, and makes all of us look like rookie traders. (except for mschey!)
Sharing some truth.
Patrick
I laughed when I read your comments:
"Your fellow ET member, lescor, is just one example of a disciplined trader
who took Don's original pointers to heart, and, over timeons ..."
Corey sure did not learn opening orders from Don, nor is it Don's system. I sat next to Corey in 2000 when he started to work on opening orders, and he turned to a couple other traders for insight, etc.
But, I do agree with you that he has taken it to a super duper level, and makes all of us look like rookie traders. (except for mschey!)
Sharing some truth.
Patrick
I've never claimed it be my "system" - there are no "systems" - "Back in 2000"? Heck that's like yesterday in trading time....LOL.
Mike has done well, and Corey is doing well, and we have dozens in the "bigger" money, and a couple of hundred "making money" - and, geez, the opening is only a few minutes of a very long day.
I'm glad to see a bit more action...the Summer was starting to bug even me....
All the best,
Don
Mike has done well, and Corey is doing well, and we have dozens in the "bigger" money, and a couple of hundred "making money" - and, geez, the opening is only a few minutes of a very long day.
I'm glad to see a bit more action...the Summer was starting to bug even me....
All the best,
Don
I'm sure this has been answered before but Don Bright writes too much(!) so its hard to search.....
In using the OO idea, I understand how to calculate FV of a stock and then envelope the FV. But then you use LOO orders so that if it opens above FV you short and below FV you go long ? Is that right ? If this is correct can anyone explain why you short if it gaps up and go long if it gaps down.
Thanks,
Z
In using the OO idea, I understand how to calculate FV of a stock and then envelope the FV. But then you use LOO orders so that if it opens above FV you short and below FV you go long ? Is that right ? If this is correct can anyone explain why you short if it gaps up and go long if it gaps down.
Thanks,
Z
You are correct. The idea is to sell if it's "too high", buy if it's "too low" relative to where it "should" open. You are fading that gap, looking for it to come back in line. Don's angle on it is to be on the same side as the specialist, who may be participating in the print to offset an order imbalance. I view it more as an arbitrage type trade. The specialist being on board is nice, but not assured, and frankly, not that important to me.
Quote from Don Bright:
I've never claimed it be my "system" - there are no "systems" - "Back in 2000"? Heck that's like yesterday in trading time....LOL.
Mike has done well, and Corey is doing well, and we have dozens in the "bigger" money, and a couple of hundred "making money" - and, geez, the opening is only a few minutes of a very long day.
I'm glad to see a bit more action...the Summer was starting to bug even me....
All the best,
Don
I have to disagree with you on the "there are no systems" comment. I have a system, several years in the making, but it is completely automated, and is banking the benjamins! We'll see if it blows up, or demonstrates a parabolic equity curve. It's fun to just "Set it and forget it", I just can't seem to leave it alone for longer than a trip to the restroom.
Good trading to all!
Mike