Free Bright Trading Mid Year Workshop

I used to be a believer in the need to 4x or much more in leverage to make a living, but now I think that is a fools game. Maybe I am on a roll, but it is one that has lasted for quite a few years now, but I think using less leverage is just fine. I am talking about having an account where I can trade 3 to 6 contracts of the minis or EC or CL in 1-4 quantities. Stocks, there are plenty of good quality stocks under $50 to trade. INTC, MSFT. I also grab APPL on occassion for 100-200 shares as well as options. As mentioned Bright seems to have a problem with people who use options unless they have a Phd in math. I don't, but I seem to be able to make money on my options trades. I did well in math in college, and maybe that helps, but I don't buy it. I take my share of losses, but have learned the hard way to control the losses and major in wins.
I have talked to Don in the past, and am still interested in the prop idea, but not sure I see the added benefits of getting licensed, and paying more for just about everything related to trading.
Anyway, I still appreciate that the Brights come here and are willing to converse about trading. My 2 cents, they are a good place, and I would go there if I could understand the added benefit of being "pro".
 
Quote from taclander:

I used to be a believer in the need to 4x or much more in leverage to make a living, but now I think that is a fools game. Maybe I am on a roll, but it is one that has lasted for quite a few years now, but I think using less leverage is just fine. I am talking about having an account where I can trade 3 to 6 contracts of the minis or EC or CL in 1-4 quantities. Stocks, there are plenty of good quality stocks under $50 to trade. INTC, MSFT. I also grab APPL on occassion for 100-200 shares as well as options. As mentioned Bright seems to have a problem with people who use options unless they have a Phd in math. I don't, but I seem to be able to make money on my options trades. I did well in math in college, and maybe that helps, but I don't buy it. I take my share of losses, but have learned the hard way to control the losses and major in wins.
I have talked to Don in the past, and am still interested in the prop idea, but not sure I see the added benefits of getting licensed, and paying more for just about everything related to trading.
Anyway, I still appreciate that the Brights come here and are willing to converse about trading. My 2 cents, they are a good place, and I would go there if I could understand the added benefit of being "pro".
More...

Futures are already levered around 20 to 1. That's a lot! As for stock, one can get the synthetic leverage through lower priced stocks in additional to the 4 to 1 intra-day. There is more then enough leverage to hang yourself.

And FX is levered 50 to 1 if you want to go that route.

Synthetic stock is levered 5 to 1 overnight which I believe is the same leverage for single stock futures.
 
the webcast had some interesting info, topic of program trading was a plus

always interesting that bob , who trades futures profitably participates in these events

I guess you can never have enough money

bright is not competing with most prop firms out their for somone scalping for pennies

If you need leverage & your holding positions for minutes , hrs , or days then their model may work for you

most traders with them are trading for bigger moves in a stock is how they can warrant in paying the commissions

the overnight buying power is their edge for traders , always will be

overall bright does still share info about the industry with traders
when other prop firms can care less about traders overall

anything you learn can be a plus for traders these days , even through self promotion which is fine

they definitely don't need the money but it's all good business for them
 
Quote from Don Bright:

Well, a nice lot of information and mis-information, LOL.

Bob made millions last year ($12 mil about) trading emini's - this year is more focused on SPY vs. emini's.

I have never said "no one makes money trading futures" - I have said that our history, with our traders over the years have done better with equities. We do our best to translate futures trading to SPY's for several reasons.

And, regulatory issues, you bet. I have spent all morning with our Compliance responding to issues. All part of the game.

I only invited our top 20 traders to speak yesterday, and actually held one back for an internal workshop (we allowed a few from ET in yesterday). I actually learned some new things from Hank Camp as well. The whole program trading thing needs to be understood, IMO.

2 new transfers from other firms today, after listening in, another decided to come here instead of another firm because "he likes the idea of having a Firm that actual interacts with their traders" - made me feel good, we work pretty hard at all this.

The "daytrading is dead" comment was referring to the full penny scalping concerns from HFT, we still have many who do nothing but day trade. Depending on account size, we find more are holding longer term, hedging their positions overnight with SPY's or something, and getting 20 or 30 to one overnight leverage....seems to be working.

We also brought up Dodd-Frank which may actually help our traders since we won't have as much "competition" from investment banks etc.

All the best,

Don
More...

Don, I can tell you are a genuinely nice guy. I'm not a shill, since i'll never give you any money; however, i do think i can offer some good advice. Could you use some of that 12 million from your brother (?) and design a good website? It looks horrible. It's not even good for 1998. This is like owning a bank and the front of your brick n mortar is all garbage, spray painted, and crap thrown on it. they may be good and have money, but appearance is important. sorry if i come off a little too harsh, i say it with a smile, but i really, really think your business will grow with 50k pumped into a nice website.
 
Quote from BlueTurtle:

Don, I can tell you are a genuinely nice guy. I'm not a shill, since i'll never give you any money; however, i do think i can offer some good advice. Could you use some of that 12 million from your brother (?) and design a good website? It looks horrible. It's not even good for 1998. This is like owning a bank and the front of your brick n mortar is all garbage, spray painted, and crap thrown on it. they may be good and have money, but appearance is important. sorry if i come off a little too harsh, i say it with a smile, but i really, really think your business will grow with 50k pumped into a nice website.
More...

I agree. I actually know a few traders who based their decision on not going to Bright on the website alone! They would be better off not even having a site. Hell, you can hire a kid from UNLV who will do the damn site over for a 1k or 2k and it will make a difference.
 
bob only made 12 million plus last year , their saving up to revamp their website lol.

bob is making big money in futures for several years now , he is doing something right , very few traders can make that kind of money in any market
 
Quote from hitnrun:

bob only made 12 million plus last year , their saving up to revamp their website

bob is making some cash in futures for several years now , he is doing something right , not too many people making those kinds of gains in any market
More...

Well...I think his capital base is north of 200 million so that's what...6%? He also likes to average down. :)
 
most likely he is holding positions for days with some daytrading with size to make those gains

they say money makes money , he seems to know his stuff


would be cool if Don could share a bit about how agressive his style is ?
 
Quote from hitnrun:

most likely he is holding positions for days with some daytrading with size to make those gains


would be good if Don could share a bit about how agressive his style is ?
More...

Trader Monthly did a write up on him a few years back. He is VERY aggressive and he will hold on to losers for a VERY long time. He can afford it I guess but it's not something most people want to emulate.

One of my fav trades he did was averaging into a massive loser on Providian starting in the mid teens all the way down to the low single digits. He kept buying it. The stock eventually recovered and he actually made some decent coin on that. But 99% of ET would have blown out their account 5 times over doing that trade. I think that position must have gone against him 80% at one point. Hey if you can take the heat right? LOL.
 
yes , i remember all that stuff. when you have millions to risk you can weather the storm

I am sure is doing well with trading the bright family fund too

must be nice to be in that situation , stress free trading


Any idea if he is trading futures on the redi platform ?
 
You must log in or register to reply here.
Back
Top