How much is Bright Trading Training
- Thread starter Andiroo
- Start date
no
The 4 day class (5th day optional) is $1250. You can return as often as you like (each class is different, responding to current market conditions etc.)
From the current month's Stock and Commodites Magazine. A very basic overview. We fly in our top people to help with the classes. http://www.stocktrading.com/Q&A - November 2010.htm
FOUR DAYS OF THE CURRICULUM
Don, I understand that you and your firm have been teaching trading since the early 1990s. I know trading overall has changed considerably over the years as well. I am interested in what you guys are teaching these days. Is there a chance you could share what youâre doing in some of your programs?
â equtyspec2
Actually, your timing is pretty good for this question. My brother Bob, me, and our top trader/mentors have just redone our entire curriculum. For 2011 we will have a four-day schedule, with a âflexible Fridayâ for those who would like a private meetup, see how we set up for the boot camps, or just to summarize the four days of training. I will pass along the fundamental concepts and topics, since I donât believe I have ever gone into this here at Stocks & Commodities.
We start the first day with a âget to know each otherâ session. Since we have around 50 students, ranging from newbies to seasoned veterans, it helps me to know who sits at what level. I want to be sure not to focus on any particular level of expertise or previous trading histories. I like to know what percentage fit into a handful of categories. I try to encourage interaction between the students and the trader/instructors to develop a comfort level. Then I go into a brief history about my brother and me and the firm to establish where we come from and how we got to where we are today.
We review a laundry list of trading terms, with definitions, and then show how the definitions may vary from the actual usage. We all need to speak the same language going forward to make the most of this training week.
At this point, we get into order flow and order routing. These topics have jumped greatly in relevance and importance in recent months, with all the high-frequency trading, subpennies, and so on (see my S&C March 2010 column for more on these topics). We review the current state of affairs from both a regulatory and trader standpoint. These topics seem to be in a state of constant change. Traders must keep up. What we taught last year is 180 degrees from what we are teaching now.
We cover the differences between retail and professional trading. We want everyone to realize that although the education we offer will help most everyone, not all strategies and techniques can be performed by the average retail trader. We will review the edge that we have over some other market participants.
Then I will explain how market mechanics work from a traderâs standpoint. For most actions, there are several market reactions; some may seem basic, some almost without description. Weâll start with leading indicators and explain why markets move the way they do. We cover some of the basic calculations for premium and discount to fair value and how we use these numbers from premarket and throughout the day.
My brother takes over after the market closes on this first day. His topics include how to use some basic tools like relative strength and momentum. He then gets into fundamental analysis, basics of pairs trading, and using leveraged exchange traded funds. Bobâs afternoon sessions continue throughout the week. He will discuss global economics, geopolitical concerns, and other news items that affect our current trading. His 40 years of profitable trading, in all time frames, brings a lot to the table.
On day 2, we bring in 12-year Bright Trading veteran Rob Friesen, the Ceo of our affiliate, PairCo Llc. He will discuss the foundational ingredients of pairs and pair construction. He manages a large group of Bright traders as well as facilitate our special Joint Venture Club and Bright Trading mentoring. In addition to pairs, Rob demonstrates efficiency calculations and productivity ratios for individual stocks and baskets of stocks against Etfs.
We get into risk control heavily, both from an individual trader and the firmâs standpoint. Our risk manager shows in detail how best to handle risk.
Not only that, we fly in the manager of our largest group of remote traders to share how we interact with our âBright-at-Homeâ traders. Cash Coyne shares some of what heâs learned from his 15 yearsâ experience with us, his programming skills, and overall view from his perch. He is always very well received and is often chosen by new students to be their direct manager.
We also bring in a couple of our most successful (currently) traders to share their methods with the class. These sessions are again very well received by the students. We donât bring in those who âdidâ make money, only those who âare makingâ money.
In addition, professionals from Briefing and Interactive Data fly in to share their latest products that our people use on a daily basis. These short sessions are purely educational, no sales pitches allowed.
I come back in day 3, premarket, to explain and show how we handle our premarket checklists. Thereâs actual live trading with narration at the opening of the day. I get into the trading platform and all its benefits as well. We show live indicators and how we use them.
Day 3 continues with trading, in-depth review, and a lot of Q&A.
The fourth and final day is where we showcase top traders and their techniques. My brother generally ends the session with a full dayâs worth of examples of his personal trading as well.
Afterward, we invite everyone to join us next door for sodas, snacks, and socializing!
We continually change the topics and instructors while keeping all the required basics. Hope you can join us at some point. Thereâs more at www.stocktrading.com/training.html.
I have lots of "testimonials" and yes, a few who just seem to get what we were teaching and didn't like it. I'm not a fan or a believer in "testimonials" myself, so I don't post them on the site or anything.
In addition, we bring our people together for our Retreat... and this is what we're doing this year (next month).
Bob Bright - "MACRO ECONOMICS AND INDICATORS."
Don Bright "RELATIONSHIP TRADING. BACK TO THE BASICS OF MARKET FOLLOWING STOCKS."
Dennis Dick - "TAPE READING IN A HFT WORLD."
Ken Jones - "LOW LIQUIDITY STATISTICAL ARBITRAGE."
Sini Sorgic - "NARROW SECTOR PISTON TRADING."
Darren Clifford - "THE POWER OF CHANGE - WHAT TO DO WHEN THINGS WRONG."
Mark Turlington - "CONSISTENCY. GRINDING OUT A LIVING, DAY BY DAY, BY FOLLOWING A HANDFUL OF TRADING PRINCIPLES."
More can be found here: http://www.stocktrading.com/cannery2010test.html
More on school: www.stocktrading.com/training.html
From the current month's Stock and Commodites Magazine. A very basic overview. We fly in our top people to help with the classes. http://www.stocktrading.com/Q&A - November 2010.htm
FOUR DAYS OF THE CURRICULUM
Don, I understand that you and your firm have been teaching trading since the early 1990s. I know trading overall has changed considerably over the years as well. I am interested in what you guys are teaching these days. Is there a chance you could share what youâre doing in some of your programs?
â equtyspec2
Actually, your timing is pretty good for this question. My brother Bob, me, and our top trader/mentors have just redone our entire curriculum. For 2011 we will have a four-day schedule, with a âflexible Fridayâ for those who would like a private meetup, see how we set up for the boot camps, or just to summarize the four days of training. I will pass along the fundamental concepts and topics, since I donât believe I have ever gone into this here at Stocks & Commodities.
We start the first day with a âget to know each otherâ session. Since we have around 50 students, ranging from newbies to seasoned veterans, it helps me to know who sits at what level. I want to be sure not to focus on any particular level of expertise or previous trading histories. I like to know what percentage fit into a handful of categories. I try to encourage interaction between the students and the trader/instructors to develop a comfort level. Then I go into a brief history about my brother and me and the firm to establish where we come from and how we got to where we are today.
We review a laundry list of trading terms, with definitions, and then show how the definitions may vary from the actual usage. We all need to speak the same language going forward to make the most of this training week.
At this point, we get into order flow and order routing. These topics have jumped greatly in relevance and importance in recent months, with all the high-frequency trading, subpennies, and so on (see my S&C March 2010 column for more on these topics). We review the current state of affairs from both a regulatory and trader standpoint. These topics seem to be in a state of constant change. Traders must keep up. What we taught last year is 180 degrees from what we are teaching now.
We cover the differences between retail and professional trading. We want everyone to realize that although the education we offer will help most everyone, not all strategies and techniques can be performed by the average retail trader. We will review the edge that we have over some other market participants.
Then I will explain how market mechanics work from a traderâs standpoint. For most actions, there are several market reactions; some may seem basic, some almost without description. Weâll start with leading indicators and explain why markets move the way they do. We cover some of the basic calculations for premium and discount to fair value and how we use these numbers from premarket and throughout the day.
My brother takes over after the market closes on this first day. His topics include how to use some basic tools like relative strength and momentum. He then gets into fundamental analysis, basics of pairs trading, and using leveraged exchange traded funds. Bobâs afternoon sessions continue throughout the week. He will discuss global economics, geopolitical concerns, and other news items that affect our current trading. His 40 years of profitable trading, in all time frames, brings a lot to the table.
On day 2, we bring in 12-year Bright Trading veteran Rob Friesen, the Ceo of our affiliate, PairCo Llc. He will discuss the foundational ingredients of pairs and pair construction. He manages a large group of Bright traders as well as facilitate our special Joint Venture Club and Bright Trading mentoring. In addition to pairs, Rob demonstrates efficiency calculations and productivity ratios for individual stocks and baskets of stocks against Etfs.
We get into risk control heavily, both from an individual trader and the firmâs standpoint. Our risk manager shows in detail how best to handle risk.
Not only that, we fly in the manager of our largest group of remote traders to share how we interact with our âBright-at-Homeâ traders. Cash Coyne shares some of what heâs learned from his 15 yearsâ experience with us, his programming skills, and overall view from his perch. He is always very well received and is often chosen by new students to be their direct manager.
We also bring in a couple of our most successful (currently) traders to share their methods with the class. These sessions are again very well received by the students. We donât bring in those who âdidâ make money, only those who âare makingâ money.
In addition, professionals from Briefing and Interactive Data fly in to share their latest products that our people use on a daily basis. These short sessions are purely educational, no sales pitches allowed.
I come back in day 3, premarket, to explain and show how we handle our premarket checklists. Thereâs actual live trading with narration at the opening of the day. I get into the trading platform and all its benefits as well. We show live indicators and how we use them.
Day 3 continues with trading, in-depth review, and a lot of Q&A.
The fourth and final day is where we showcase top traders and their techniques. My brother generally ends the session with a full dayâs worth of examples of his personal trading as well.
Afterward, we invite everyone to join us next door for sodas, snacks, and socializing!
We continually change the topics and instructors while keeping all the required basics. Hope you can join us at some point. Thereâs more at www.stocktrading.com/training.html.
I have lots of "testimonials" and yes, a few who just seem to get what we were teaching and didn't like it. I'm not a fan or a believer in "testimonials" myself, so I don't post them on the site or anything.
In addition, we bring our people together for our Retreat... and this is what we're doing this year (next month).
Bob Bright - "MACRO ECONOMICS AND INDICATORS."
Don Bright "RELATIONSHIP TRADING. BACK TO THE BASICS OF MARKET FOLLOWING STOCKS."
Dennis Dick - "TAPE READING IN A HFT WORLD."
Ken Jones - "LOW LIQUIDITY STATISTICAL ARBITRAGE."
Sini Sorgic - "NARROW SECTOR PISTON TRADING."
Darren Clifford - "THE POWER OF CHANGE - WHAT TO DO WHEN THINGS WRONG."
Mark Turlington - "CONSISTENCY. GRINDING OUT A LIVING, DAY BY DAY, BY FOLLOWING A HANDFUL OF TRADING PRINCIPLES."
More can be found here: http://www.stocktrading.com/cannery2010test.html
More on school: www.stocktrading.com/training.html
Pretty cheap to pick up some differnt strategies in real time.
I would say about 25-30% who come to training are either already with us, or decide to join us. When 90% of all business ventures fail the first year, we're proud that over half our new people are here in the second year...we lose some more of course. But, on the "Bright side" - over half our people have been with us for 5 years or longer. Takes work and dedication like any fruitful venture.
(And, thanks for the nice words guys).
Don
I would love to hear how Don defines a successful trader. Someone who sticks around for years is not necessarily successful. Someone who is trading part time is not necessarily successful. I have never really heard Don give any specific data on the issue. If someone wants to post a link I would be more then happy to change my mind. The truth of the matter is the success rates in this industry are pretty much the same across the board regardless of product traded or the firm where one is at. I have always said this and will continue to stand by this till proven otherwise.