Inside the Industry - Chat w/ Don Bright

Well i can see I overshoot the target with moderators and Don (not an alais).

as one of the few people who uses his name here, It is really humous to see how don gets trapped by anonomous fluff and doesn't give the time of day to a person making a proactive and creative comment.

what a load!!!
 
Not sure the esoteric meaning of "totally ethical", nor as amazed with 777's (anonymous) omniscience and elitism, but I can say that the Brights run a 'totally' ethical business based on my experiences over the past 2 years.

They are hones, they fulfill their promises and they meet their commitments. I believe that's 'ethical', especially in a business that values 'ethical' only when it's immediately profitable to do so.

Although I lost a considerable amount of money at Bright my 1st year, it was completely my fault and against both Don and Bob Bright's advice. I was 'over-funded', arrogant, stupid and lacked basic discipline. Once I was 'forced' to trade smart, I started making the decent living I'm enjoying now. However, IF I had listened to the Brights' recommendation and moved to Las Vegas to work directly under Jeff DeWon with Bob and Don available for additional help, I could have avoided most of my losses. My decision was wrong.

As long as the Brights, and Eddie Franco, run this company I'm there to trade as long as I'm smart enough to survive!

By the way, my name is Jim Howell and I'm in Phoenix.
 
Quote from jack hershey:

Well i can see I overshoot the target with moderators and Don (not an alais).

as one of the few people who uses his name here, It is really humous to see how don gets trapped by anonomous fluff and doesn't give the time of day to a person making a proactive and creative comment.

what a load!!!
More...

What does that tell you?
 
Quote from OPTIONAL777:



Thus your words "virtually free" were a way of saying the trades beyond 2500 are not free.

Non hypesters say, "the fees beyond 2500 shares are only whatever SEC fees may apply."
More...

Traders understand that they pay SEC fees, and we all pay income tax, sales tax and whatever else.....

Thanks again for the help!

Don
 
Quote from Don Bright:



Traders understand that they pay SEC fees, and we all pay income tax, sales tax and whatever else.....

Thanks again for the help!

Don
More...

New traders, prospective traders often don't know the rules, as they are in the decision making process, they look to those who are in the business to tell the truth and the whole story. How many have ended up surprised, saying, "If only I had been told the whole story in the beginning."

The difference between an educator and a marketing/recruiting manager, is that the educator is not functioning with an intent to close a sale. Educators try to be specific, recruiting managers try to close a deal.

Minimization of fact and maximization of hype is the typical M.O. of a sales manager.
 
Quote from OPTIONAL777:



What does that tell you?
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I'm open to seeing if anything improves in ET. It's tough place for regular people apparently.

Don's focus seems to be on his non-alais and whatever it is that he does as a job. Apparently he is not a full time trader.

I check the voice stuff once in a while and apparently it doesn't do anything as yet.

I didn't go to the Thursday thing cause I believed it was for a specific interest group.

I am waiting for live chat stuff on making money which is my primary inerest.
 
In a company the size and 'flatness' of Bright, one person often has to serve multiple functions (I know, I've owned three small business in lives past).

Only the 'big boys' (GS/MWD/MER, etc.) can afford (due to client fees/costs/commissions) to pay for recruiting staff, selling staff, training staff, drinking staff, blackmail staff, etc.

The Brights are good, they owe me nothing (and I owe them nothing as well). I just hate to see honest business people bashed anonymously. It's cheap, it's cowardly and it's chicken shit. I know, I've been the recipient of crap like 777's more than once.

Hmmm, maybe 777's the signature for the perfect A.H. - a stainless steel LAWYER.
 
Quote from howellpar:

In a company the size and 'flatness' of Bright, one person often has to serve multiple functions (I know, I've owned three small business in lives past).

Only the 'big boys' (GS/MWD/MER, etc.) can afford (due to client fees/costs/commissions) to pay for recruiting staff, selling staff, training staff, drinking staff, blackmail staff, etc.

The Brights are good, they owe me nothing (and I owe them nothing as well). I just hate to see honest business people bashed anonymously. It's cheap, it's cowardly and it's chicken shit. I know, I've been the recipient of crap like 777's more than once.

Hmmm, maybe 777's the signature for the perfect A.H. - a stainless steel LAWYER.
More...

You know the staff there as you say.

It is organized as a small business as you perceive it too.

Who is their technical expert? Have they documented their operating practices to enable a person to see where the risks come to rest?

During the period that you did what you did, was there any documentation generated with respect to qualifying the lack of success in the realtionship?

What is a measure of success for Don?

Thanks in advance.
 
Okay, I'm not E.Trader savvy enough to be able to review your questions as asked, but, I'll try to answer as remembered!

The firm is an excellent trading company. They are NOT a good training company, especially for a newbie such as I two years ago.

I should have studied several outstanding books BEFORE joining up and putting my money on the line - including Elder's books (Trading for A Living and Welcome into My Trading Room), Velez/Capra's book and others. Additionally I wish I had spent the time, and patience, attending a trading 'boot camp' such as Elder's, Dr. Goldman's or others BEFORE trading 'live'. And, I should have 'paper-traded' to test out my education and strategies.

Bright's 1 week class, in 2001, was NOT sufficient nor particularly helpful in teaching me the disciplines of guarding capital, choosing and developing a personal trading stragegy nor even utilizing the platform(s) they provide. BUT, the losses were mine. I should know better than to gamble, especially with my own money!

However, they have a phenomenal 'brain-trust' in Las Vegas that has helped turn newbies into seasoned, and somewhat successful, traders. It's not tightly organized, like so many 'vocational trades', and you best learn by doing under the watchful eye of a master craftsman. Some of whom are better at teaching and responding than others. Unfortunately, the Bright people that are best at this are much more plentiful in their Las Vegas HQ - Bob Bright, Jeff DeWon, Don Bright and a couple of others. I do wish I had followed Don and Bob's advice and 're-located' there for at least 3-6 months after starting.

But, none of this diminishes their honesty, their efficiency, their ethics and their commitment (top to bottom) to making full-time, PROFESSIONAL (Series-7 required) trading as inexpensive, fast and productive as possible for someone who knows what to do.

Did I answer at least most of your questions??
 
Quote from howellpar:

Okay, I'm not E.Trader savvy enough to be able to review your questions as asked, but, I'll try to answer as remembered!

The firm is an excellent trading company. They are NOT a good training company, especially for a newbie such as I two years ago.

I should have studied several outstanding books BEFORE joining up and putting my money on the line - including Elder's books (Trading for A Living and Welcome into My Trading Room), Velez/Capra's book and others. Additionally I wish I had spent the time, and patience, attending a trading 'boot camp' such as Elder's, Dr. Goldman's or others BEFORE trading 'live'. And, I should have 'paper-traded' to test out my education and strategies.

Bright's 1 week class, in 2001, was NOT sufficient nor particularly helpful in teaching me the disciplines of guarding capital, choosing and developing a personal trading stragegy nor even utilizing the platform(s) they provide. BUT, the losses were mine. I should know better than to gamble, especially with my own money!

However, they have a phenomenal 'brain-trust' in Las Vegas that has helped turn newbies into seasoned, and somewhat successful, traders. It's not tightly organized, like so many 'vocational trades', and you best learn by doing under the watchful eye of a master craftsman. Some of whom are better at teaching and responding than others. Unfortunately, the Bright people that are best at this are much more plentiful in their Las Vegas HQ - Bob Bright, Jeff DeWon, Don Bright and a couple of others. I do wish I had followed Don and Bob's advice and 're-located' there for at least 3-6 months after starting.

But, none of this diminishes their honesty, their efficiency, their ethics and their commitment (top to bottom) to making full-time, PROFESSIONAL (Series-7 required) trading as inexpensive, fast and productive as possible for someone who knows what to do.

Did I answer at least most of your questions??
More...

Thanks so much for your comments.

It looks like the series 7 covers the bases for Don etc.

I am just easing into learning about the prop stuff. I would say at this point that i don't have a clue as yet.

The processes you are describing for ramping up to doing it full time are fairly clear to me though.

I guess Don is doing some of the stuff the "outside" man does in a small business.

The Prop trading is beginning to look like a niche with a few variations. My guess is that most people are making a quarter mil a year or so. Say a 1,000 bucks a day for the 250 days a year.
 
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