Inside the Industry - Chat w/ Don Bright

Quote from Andre:

I have to admit, I was a little disappointed in the questions. Beforehand, Don and I discussed we would make it an Inside the Industry type of chat. However, many people brought some very basic questions on trading and platforms. What do you do but answer them?

We had 75-78 people in there for the bulk of the chat, and it ran to almost twice the length of time as most of our guest events. Don answered question after question. I find it amazing people would ridicule Don for this.


Tell you what, however, Baron and I have had some discussions on providing interviews for Elite Trader members. Creating content can be very expensive. I know this from my time at Innerworth working on the Master Interviews.

For a higher level discussion on the state of the industry, perhaps it would be better to have just one person interviewing someone like Don, bringing more in depth questions. Perhaps we could even make it audio, instead of text.

What do folks think about that?

André
More...

much better.... and make sure the person doing the interviewing isn;t an employee of the interviewee or associated with the firm in some way...and has an "independent" view so we can get good questions asked.

J-
 
Quote from jester:



much better.... and make sure the person doing the interviewing isn;t an employee of the interviewee or associated with the firm in some way...and has an "independent" view so we can get good questions asked.

J-
More...

Well, are the questions about the nature of trading, or about whether or not to trade with Bright?

Seems to me that most of the focus from Don is why to trade at Bright.

If about trading, why not have a panel of traders from each firm who advertises here to "educate" us.

Don spends less time "educating" and more time "selling."

I read the transcript, and it read like a freaking infomercial.
 
Quote from OPTIONAL777:



Well, are the questions about the nature of trading, or about whether or not to trade with Bright?

Seems to me that most of the focus from Don is why to trade at Bright.

If about trading, why not have a panel of traders from each firm who advertises here to "educate" us.

Don spends less time "educating" and more time "selling."

I read the transcript, and it read like a freaking infomercial.
More...

Optional,

I <basicaly> agree with you ....within 4 - 10 minutes I saw where most of the conversation/questions were going so I new they would have archived the transcripts and I could go back and "pull out" anything of value,so I just left.

I "honestly" was hoping they were going to talk about New Trends or Issues in the Trading Market. I know our firm was at the Online Trading Expo a while back and we were speaking to, (as Don says) "everyone" back east too and I already had an idea of what "might" be talked about...I read or heard none of that so I just tuned out.

I think a panel of questionnaires, "independent" of the interviewee/company etc... makes the most sense and could lead to "real" information instead of an infomercial which is kinda the feeling I got from this.

J-
 
Quote from OPTIONAL777:



You need an edge by knowing who someone is? Really.

I have yet to understand your fears in this area. I have my reasons for anonymity.

If facts, reason, and common sense are really on your side, why worry?

The truth is not a handicap when it comes to running your business, is it Don?

You don't think I work for the S.E.C. do you?

I debate people all the time on the internet. It doesn't matter who they are. The audience will soon enough see who is real, and who isn't....who is telling the truth, and who is making it up as they go along, who has facts that they can support with published independent data.

I just think you have concerns about what might really happen if you open yourself up to some rigorous questions about the nature and practices of your misleading and deceptive marketing techniques.

I obstained from your dog and pony show, as not to disturb others.

I am here, anytime you want to deal with issues, and not personalities.
More...

Now you're really making me smile...as if I'm fearful of anything you could come up with. And, as far as personalities go, I'm already clearly in the drivers seat. But since this is a public forum, and I actually am involved in the industry, I wouldn't bother with some 9 year old from L.A. ...but would with a legitimate trader and member of our Community here on ET. I don't fall for hoaxes, respond to intimidation, or any thing else along those lines.

Anonymity and success rarely go hand in hand. What are you afraid of....honesty? Being exposed? Come on, no one really cares.....just getting into a pissing match is not of value to anyone.

Send me a PM if you like to work out the details.....

Don
 
A neat format to use is voice and a person making a log.

The person(s) voicing can inject NB's to the logger as well.

It works especially well during market hours if all the participants are following the same market in real time.

The fact that 78 folks were there simply means that yo have to do prep for what you did differently. Put up the Q's you are going to run down (And if the market's open, then they can have a market context) ahead of time so the audience can cull out the stuff that will be covered and who ever the speakers are (a small representative group would be nice as we all can figure out.)

What I am saying is this. If a person has suggested a key question, then he engages during that question. You might even easily discover that questions come in groups and you can put the group on the table and thus select the speakers for that group.

There are many sponsored thread grouping here. youould rotate through them in sequence for fairness. The group Don is related to is unknown to me as yet. Is it the non alias group as he notes?

I hope that there can be some sort of professionalism on the part of the runners of this operation and that they keep it contained to web management. Since the professionals of the financial industry have their own venue; it might be nice to just let some amateurs slip into the scene once in a while when it is free of prospectors. I am so amateur at this point that I can't figure out how to contact a moderator of a thread to seek advice.

I hope that the runners upgrade the approach here sooner than later.
 
Quote from Don Bright:



Now you're really making me smile...as if I'm fearful of anything you could come up with. And, as far as personalities go, I'm already clearly in the drivers seat. But since this is a public forum, and I actually am involved in the industry, I wouldn't bother with some 9 year old from L.A. ...but would with a legitimate trader and member of our Community here on ET. I don't fall for hoaxes, respond to intimidation, or any thing else along those lines.

Anonymity and success rarely go hand in hand. What are you afraid of....honesty? Being exposed? Come on, no one really cares.....just getting into a pissing match is not of value to anyone.

Send me a PM if you like to work out the details.....

Don
More...

Don, we could focus on issues, which doesn't require knowledge of who I am, or I could play your game of ad hominem arguments.

Issues, count me in. Ad hominem attacks, count me out.

I make no claims about myself, have nothing to sell, thus have nothing to defend. My singular claim concerning you is that you are unethical and innacurate in your marketing methods, and take advantage of this forum.

You make a bunch of claims, without evidence to support them. Let's address that, shall we?

You have nothing to lose, if you are accurate in your data.

I have a log from your visit last Thursday. I will start asking quesitons based on that log.

You can choose to answer or not.
 
Quote from Avalanche:

Really looking forward to reading this chat transcript if I am not around to ask some pointed questions. If I'm not logged in someone please ask him (likely he read this and address some of the questions) if there are any market on close strategies that are working these days and ask him his thoughts about the NYSE liquidity quote.

Regarding the open only strategy, are there bright offices with traders that are really putting out 100 or more orders every morning? If so how are they handling it when they are getting 10-20 fills all of a sudden. At what point does the ability to effectively manage the fills just break down. Are they marketing out of the positions, bidding or offering them out. What is the consensus on the number of fills you can get and still manage them somewhat effectively?

Also would be interested in Don's thoughts on the application of NYSE open book in the lower volume names. I know it is of little value in the most liquid issues but it seems to have a lot of value in the less liquid stocks according to some.

Hope this chat lives up to its promise and Don can give us a real glimpse into what really is working for traders lately. He is certainly in a unique position to know what is working for their traders and what is not.

Also would be nice if he could give us a profile of a trader there that is netting six figures? As in, does he trade just a few stocks, one or two sectors, or what? He typically trades 100K shares a day or is it closer to 250K shares? His typical share size is "XXX", etc. Also as a firm what is their breakdown internally NYSE volume to Nasdaq? >90% nyse or about what?

A million different ways to make or lose money but it seems like the high volume traders are the more consistent and most profitable from what I have heard.
More...

Don can you answer the above questions as well.

Thanks.

:cool:
 
Yeah, this sounds like "issues" "nothing personal, yeah right... ...come on 777, calling me unethical is downright childish, false, and yes, even irritating (which is all you seem to care about). I help run one of the most successful, and ethical firms in existance. I would be happy to debate with someone of similar stature, but see no reason to fall for your insinuations and accusations. You can choose to think what you like, but I simply don't need to argue with someone so cowardly. Show me anyone in a firm similar to ours that is anywhere near as open and up front helping traders. I will not let you deter me from continuing to help others....but I may just have to give up on you....it's too bad, you actually have a good sense of humor, it's just that your "dark side" is so negative and pessimistic that it far outweighs anything positive you might be able to contribute.

Don
 
Quote from Don Bright:

Yeah, this sounds like "issues" "nothing personal, yeah right... ...come on 777, calling me unethical is downright childish, false, and yes, even irritating (which is all you seem to care about). I help run one of the most successful, and ethical firms in existance. I would be happy to debate with someone of similar stature, but see no reason to fall for your insinuations and accusations. You can choose to think what you like, but I simply don't need to argue with someone so cowardly. Show me anyone in a firm similar to ours that is anywhere near as open and up front helping traders. I will not let you deter me from continuing to help others....but I may just have to give up on you....it's too bad, you actually have a good sense of humor, it's just that your "dark side" is so negative and pessimistic that it far outweighs anything positive you might be able to contribute.

Don
More...

Neat contribution.

are you saying we all have to stop using aliases?

are you saying that your professional stature and accomplishments is the level you require of others for you to chat and exchange thoughts?

I'm not being argumentative, in my opinion.

Could you outline what it is that you do not want to talk to 777 about so we can take it off the table right now and then just get to the things you want to address and be helpful with?

I am a proactive and creative person. As an amateur my stature is amateurish to the enth degree.
 
What do you think was really neat and helpful that was contributed in the session?

Is there anything about this item that you can suggest to make it better?
 
You must log in or register to reply here.
Back
Top