Exposing one Donald Bright
- Thread starter lidodido
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I also took Bright's class because I was told (at the sales seminar) you have to take class if you want to trade with Bright and the $1000 fee is that they want to make sure you are serious about trading with Bright and consider you can come back as many time as you like so $1000 is really well spend.
Since I was a complete newbi then so I did learn something. There are two other guys (newbi) I talked to they are not please with class. So Lido's statement is consistent with What I know. The reason I'm writing is that I want to post my eamil which is what I summarized about class to an acquiantance who we met at Bright's sales seminar.
I want to post it (except my name and the other guy's name) bacause I feel that I can give you a newbi's view after class.
Here it comes,
..... Just got back from BT class.
It's not really all about class, there are 30% of marketing (from Don Bright).
It does not teach you particular strategies, except opening order only and some pair trading (though they don't recommend new trader do pair trading. My guess is that it can wipe out you account if something bad happen, like BA and PVN. It is pretty safe though most of time, better than one stock)
It showed you a few strategies. In addition to above, momentum, scalping, breakout and post openning, but no specifics (I asked about going a little bit detail on post onpenning, never got it).
It shows you how market works. since I read Farrel's book, so I already know. I did get a little bit more understanding of this though.
It tells you a lot about how to make it through (losing money period), eliminate bad habits, sort of psychology aspect.
It eventually tell you that trading is about instints, trust your instincts, develop your instincts and if your instincts never get you to profitabl than this is not for you. As Bob Bright said, they are trying to teach you something so you don't lose your money quickly. Whether or not you make money, it all depends on yourself. (I really hoped that they can spend a little bit of more time on specific techniques. My guess is that they are also worried about their current traders, it is not current traders' interest to show all the technique BT traders are using).
It seemed there were 5 afternoons but not really much time being effectively used. I especially don't like wasting our time since I paid $50 an our for this. This kind of class is basically orientation class with orientation towards a lit bit more to how to trade. If you want to learn some specific techniques, this is not for you. If you want to start to trade NYSE, whether it is BT or other firm, it is helpful.
I've already filled out forms and send in checks for license exam and membership. I determined to do this. Right now, I'm trying to do license exam review and hopefully to pass the exam later this month so I can start to trade next month.
I'm also trying to find some techniques will work for me. Opening order only is the one and generally profitable if you handle well. Pair trading is not for me since I can only trade one to two hours. Farrel's method also is not suited. His method only works for very slow stocks and also the decimal probably has put a dent on his method. I think trading mid-cap is more suited for beginners even though BT doesnot encorage (I think it is because partly how they trade and partly how they make money of traders). I need to find a couple of other methods to work on.
This is all the thoughts I have regarding my trip. (I did not play one Black Jack)
........
At the end I found ET and discovered there are other firms. I decided not to trade with Bright even I already paid exchange membership fee ($500?).
Don, how many years were you in the pits for and what pits were you in? Just curious.
Aw heck, I'll go ahead and chime in here.
For months I've refrained from posting any comments about the Bright "school" whenever anyone asks about it here because it just didn't seem worth the inevitable hassle and fuss it would start....and sure 'nuff
I went about a year ago because I intended to go prop w/ Bright.
But after seeing the lame "school" that is touted as being "beyond the snake oil" and so "educational" and seeing how they conduct themselves I (and a bunch of others) beat feet outta there.
Lido's description is deja vu all over again for me and I mean damn near verbatim. But like secco said, it's funny now...especially since they're saying the same spiel this much later after all of their supposed changes...ahhh, I can hear and see it now
I'm surprised they don't actually put a good training course together as opposed to a sales pitch. The money's good...about 40 students per class, 1k each, average one class a month or more, taught after hours, the facility is in place etc. Maybe they don't know how or don't care....I dunno.
The best thing I got out of it was the Elite Trader site was mentioned (derisively) and I thought hmmm.....probably worth checking out.
Your mileage may vary.
For months I've refrained from posting any comments about the Bright "school" whenever anyone asks about it here because it just didn't seem worth the inevitable hassle and fuss it would start....and sure 'nuff
I went about a year ago because I intended to go prop w/ Bright.
But after seeing the lame "school" that is touted as being "beyond the snake oil" and so "educational" and seeing how they conduct themselves I (and a bunch of others) beat feet outta there.
Lido's description is deja vu all over again for me and I mean damn near verbatim. But like secco said, it's funny now...especially since they're saying the same spiel this much later after all of their supposed changes...ahhh, I can hear and see it now
I'm surprised they don't actually put a good training course together as opposed to a sales pitch. The money's good...about 40 students per class, 1k each, average one class a month or more, taught after hours, the facility is in place etc. Maybe they don't know how or don't care....I dunno.
The best thing I got out of it was the Elite Trader site was mentioned (derisively) and I thought hmmm.....probably worth checking out.
Your mileage may vary.
Personally i think seminars are a waste of money,especially ones that cost $1000.The best way to learn is to sit in front of a computer and watch stocks and futures trade.Realize that it is all very simple.Buy strong stocks when the futures are rallying and short weak stocks when the futures are selling off.Admit when you are wrong and cut your losses fast.That's all folks.
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