Bryan Roberts
Guest
is today triple witching?
For Serious Traders from Don Bright
- Thread starter Don Bright
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Originally posted by Don Bright
1. Thanks Aly, and thanks for the good words.
2. Re: "delusion"...that's what I heard in 1975, when told no-one can make money playing blackjack for a living (my brother has proven that wrong). I was told that when it came to trading options, futures, and all of that in the 1980's. I was really told that when we said that we wanted to compete with the "big boys" and open offices around the country, and to execute billions of shares every year for professional traders. I hope that I am deluded again.
Kind of funny story: When Schwab bought Cyber, they paid somewhere around $500 Million (give or take a few million), and Cyber does much less volume with a much, much higher overhead. E-trade has reduced volume by over 50%, we have increased at the rate of 40% per year, so at some point we may cross. And, BTW...I am trying to lighten things up a bit around here. And when I finalize the details, everyone will be aware. We are setting up a whole new platform and access for remotes, with their own management, lowering costs below anyone out there, and we have finally worked out a way that we can allow traders to come in with lower money to trade with. I don't want to "glamourize" it, but I do want to thank those traders (even from this board) who have sent me personal emails with some great suggestions...and we are doing it. This is working out much better than I had hoped. I am getting great feedback (albeit sometimes in a nasty way), and with all the main "Bright People" here, yesterday and today, we have made some important changes. Thanks, and keep the ideas coming!!
Don,
Will that be for retail traders as well?
Regarding retail traders...We are contemplating the idea of having a retail side (and have a couple of firms willing to let us take their B/D license for no fee to accomplish this), but with all the new limitation on retail traders (much worse than before), it makes more sense to help traders take their test and get licensed...it only takes a short time to study for (and the benefits are tremendous). If we do "go retail" then the traders are limited to capital, costs, access and all the rest...the exact reasons why we have such an edge. Doubtful at this point, but we may do it so we can allow people to trade while waiting to get their license.
It would be cool if "triple witching" were on Halloween, wouldn't it?
Hi Jeff, and everyone. I want to thank you personally, on the board, for calling my brother and I to discuss the recent negative activity here. As we discussed, I am hoping to work together to help build a better industry, and compete fairly and openly. I will ask that even the "supporters" of Bright or any other firm take the lead, put down the gloves, and continue with some good, solid trading discussions.
Thanks to Aly, you Jeff, and everyone for helping bring this little thread to a positive end. So the rest of you can "put down the popcorn" and get back to trading.
Don Bright
Thanks to Aly, you Jeff, and everyone for helping bring this little thread to a positive end. So the rest of you can "put down the popcorn" and get back to trading.
Don Bright
JeffreyECHO
ECHOtrade
To the Members of Elite Trader,
The postings over the last few days have been brought to my attention from a few of our traders that read these message boards. In the past I was compelled a few times to join in the discussions, but the questions I would have responded to were so perfectly answered by Gene Weismann that there was no need for my input. In seeing the treatment that Don has received here, I have no plans on being a regular member of this forum, and all direct questions related to our firm can be addressed by calling toll-free 866-700-ECHO. What I have to say I will try to do in just this post.
We want to make it very clear to our traders that we respect all of our competitors, and any forum such as this should be one of positive feedback and constructive discussion about trading, not one that closes the door on having open, free discussions.
The Bright's are respected competitors, it would have been nearly impossible for them to have built such a large firm in this industry without being both astute traders as well as businessmen. As anyone knows who has talked to them, they have been in this business for quite a long time and will undoubtedly be a force in the business going forward.
I encourage all of our traders to welcome the input of our competitors as well as our friends.
Sincerely,
Jeffrey J. DeWit
President, CEO
ECHOtrade
The postings over the last few days have been brought to my attention from a few of our traders that read these message boards. In the past I was compelled a few times to join in the discussions, but the questions I would have responded to were so perfectly answered by Gene Weismann that there was no need for my input. In seeing the treatment that Don has received here, I have no plans on being a regular member of this forum, and all direct questions related to our firm can be addressed by calling toll-free 866-700-ECHO. What I have to say I will try to do in just this post.
We want to make it very clear to our traders that we respect all of our competitors, and any forum such as this should be one of positive feedback and constructive discussion about trading, not one that closes the door on having open, free discussions.
The Bright's are respected competitors, it would have been nearly impossible for them to have built such a large firm in this industry without being both astute traders as well as businessmen. As anyone knows who has talked to them, they have been in this business for quite a long time and will undoubtedly be a force in the business going forward.
I encourage all of our traders to welcome the input of our competitors as well as our friends.
Sincerely,
Jeffrey J. DeWit
President, CEO
ECHOtrade
Jeff,
I couldn't have said it better myself. I thinks it's best if we all work together. I think the negative comments and "bashing" that
sometimes goes on here is bad for the industry and gives outsiders a negative view of trading community.
I would also ask the members of EliteTrader to respond to questions or comments made here in a "professional" manner.If we treat each other with respect , it will be better for everyone.
Gene Weissman
Lieber & Weissman Sec., L.L.C.
I couldn't have said it better myself. I thinks it's best if we all work together. I think the negative comments and "bashing" that
sometimes goes on here is bad for the industry and gives outsiders a negative view of trading community.
I would also ask the members of EliteTrader to respond to questions or comments made here in a "professional" manner.If we treat each other with respect , it will be better for everyone.
Gene Weissman
Lieber & Weissman Sec., L.L.C.
Gen, Jeff, and all!
lol!
I suppose if one good thing's come out of this thread its that Echo, Bright and L&W managers are at least friendly with eachother.
Maybe you 3 guys should get together for a beer and organise a JOINT seminar for interested traders to attend and evaluate your services. That kills two birds with one stone, so to speak, for those traders wishing to work as a prop trader with one of your firms, but who haven't yet decided which one.
But me, I'll just stay at home in my bedroom and swingtrade away while semi-naked!
I suppose if one good thing's come out of this thread its that Echo, Bright and L&W managers are at least friendly with eachother.
Maybe you 3 guys should get together for a beer and organise a JOINT seminar for interested traders to attend and evaluate your services. That kills two birds with one stone, so to speak, for those traders wishing to work as a prop trader with one of your firms, but who haven't yet decided which one.
But me, I'll just stay at home in my bedroom and swingtrade away while semi-naked!
Don,
Your efforts and your brother's, whom I met, have made this fledgling industry flourish, not just grow. We all have benefited, and God willing, all of us look forward to being profitably individually, through these trading means (namely the professional trading paradigm). Clearly when a company bucks the trend in the industry, that only selects Ivy League "profiled" candidates to work as Traders, Brokers and the like, then that company and all others like them, should expect the "ire" and "back bitting" that has occurred in this thread. I've never seen a thread grow to 15 pages in 2 days. Clearly this has and remains a hotbed of contention.
I met and attended both training sessions at Bright and Echo, as well as other Professional / Proprietary firms. I highly recommend that all traders attend either or both training sessions and actively challenge themselves with either new informatiion and trading stlyes, or new opportunities. Remember, the truely good trader never feels he has too much knowledge, or too much profit/loss, or too much opportunity, or too much satisfaction. There in lies the opportunity for both Traders (as customers of) and Brokerage Firms (as providers of) to offer complimentary services which the industry benefits from.
I commend Gene W., and have professionaly spared with Gene over industry issues. But our conversations on these threads have been upbeat, substantive and informative (defined - objective) without there being a hint of bickering.
Clearly, all who've read these threads can benefit, ONLY whence we remain Objective, Reasonable, Fair to both the competition and Professional Reputation of each other and other firms.
The events of September 11th, clearly show that while other countries, groups and jealous individuals see Americans as over-fat, over-induldged, over-users of the enviroment, over-everything. We as Americans, and we as Traders in our sub-industry need to think "more reasonably" towards each other. The new name of the game is: "Get along".
So, can we all just get along....
PS. Continue! to be the leader Don & Robert Bright.
Your efforts and your brother's, whom I met, have made this fledgling industry flourish, not just grow. We all have benefited, and God willing, all of us look forward to being profitably individually, through these trading means (namely the professional trading paradigm). Clearly when a company bucks the trend in the industry, that only selects Ivy League "profiled" candidates to work as Traders, Brokers and the like, then that company and all others like them, should expect the "ire" and "back bitting" that has occurred in this thread. I've never seen a thread grow to 15 pages in 2 days. Clearly this has and remains a hotbed of contention.
I met and attended both training sessions at Bright and Echo, as well as other Professional / Proprietary firms. I highly recommend that all traders attend either or both training sessions and actively challenge themselves with either new informatiion and trading stlyes, or new opportunities. Remember, the truely good trader never feels he has too much knowledge, or too much profit/loss, or too much opportunity, or too much satisfaction. There in lies the opportunity for both Traders (as customers of) and Brokerage Firms (as providers of) to offer complimentary services which the industry benefits from.
I commend Gene W., and have professionaly spared with Gene over industry issues. But our conversations on these threads have been upbeat, substantive and informative (defined - objective) without there being a hint of bickering.
Clearly, all who've read these threads can benefit, ONLY whence we remain Objective, Reasonable, Fair to both the competition and Professional Reputation of each other and other firms.
The events of September 11th, clearly show that while other countries, groups and jealous individuals see Americans as over-fat, over-induldged, over-users of the enviroment, over-everything. We as Americans, and we as Traders in our sub-industry need to think "more reasonably" towards each other. The new name of the game is: "Get along".
So, can we all just get along....
PS. Continue! to be the leader Don & Robert Bright.
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