My experience w/ Bright Tradings week long training
- Thread starter mrktwiz
- Start date
Andy, as far as fee's go just go to www.stocktrading.com and call Dorothy at the office she'll help you, the class I attended was in Las Vegas I don't believe this training is different in Florida, but call the office things are changing all the time.
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Last day class;
1) Overview and questions;
2) Discussion of student trading strategies; This was interesting and we heard some very good idea's, in fact this gave me a couple of idea's that I would like to test once I start trading.
3) We went over their "duck" list, basically it's a systematic way of approaching each individual trade so you limit your risk and ...well let's just say it force's you to trade using common sense. *** ( By the way I feel this was another extremely important point in the 4 day trading class, but I want to protect their own techniques so you'll just have to attend to get the details, IMHO it was worth attending for this alone) ***
I was more and more impressed by BT using what I call the KISS strategy; "Keep It SImple Stupid" in their instructions, over and over Don would mention information overload and how, if a trader who had too many charts, was regularly losing money etc...Bob his brother would go to the traders station and click,click, click, click close all the "extraneous" charts, filters and other information to get the trader to look at "WHAT IS REALLY HAPPENING *RIGHT* NOW" what is the tape telling you, this is an art tape reading and we discussed this more and more. I have to admit the light bulb went off for me mid-Friday (I know Don but I'm a little slower than others)....it all of the sudden I understood a (small) idea if the basics of tape reading...how to spot a short seller, how to spot an institution to mutual fund buying/selling etc....this is extremely important and more than paid for the class in these skills alone.
We also discussed entry/exit points, we talked about relative strength, momentum trades and more.
Later we continued our discussion of the "psychology" of a trader, how to maintain balanced emotional state, the need to remove emotion from trading. Over and over they hit basic YET very cogent topics to help (especially us new traders) what to look inside ourselves for, weakness's, strength's who are the players, what NOT to do, what NOT to trade, how not together into MORE trouble (doubling up on loosers, etc...) for more advanced traders this must have seemed like simplistic dribble, BUT that (In my opinion) is the STRENGTH of Bright's training, they boil down (now read this carefully) WHAT HAS WORKED MAKING MONEY consistently into a;
a) easy to understand concepts
b) show you consistently winning trading styles
) introduce you every day to 1 or 2 successful traders and here from them what their doing and more importantly how much are they earning.
d)continuing education for all traders is free including access to RObert Bright, quit possibly one of the best minds I've ever had the pleasure to meet. I've worked for the best in high-tech here in Silicon Valley, i.e. Sun Microsystems', Silicon Graphics (when they were hot), Cisco Systems, Seagate, Quantum, and Xerox...I've met scientist at Xerox Research Park and Bob Bright could teach them something of "risk management" and how to give yourself and "edge"
Finally we heard again from Robert Bright, when he talked I tried as best I could to right down everything he said, now I'm biased ..no doubt about it....I LIKE Don and Robert and I LIKE the WAY they teach and I LIKE their company as a whole, and I will be joining their firm...having said that, Bob went through a complete day's trading strategy and it was just amazing, they have the whole day carved up into distinct trading techniques for time frames a small as 2-6 minutes Opening Orders, or for periods of time when the specialist's leave the floor and you might have 1-2 hours of meandering trading an what do you do then? Well they show you just how to approach the whole day, now you understand they really believe in doing it the BRIGHT way...if you don;t want to do that you can trade your own style. Let me tell you about a trader I met that is already trading with BT, he attended the training as part of is ongoing education. He was a great guy and was very candid with me. I asked him what his experience with Bright had been so far (he's been trading 2 1/2 months) he admitted he came into Bright with an attitude and thought he knew something.....well the markets can humble us...he quickly lost about $6,000.00 from his trading account then he started doing his trading the BT way, he quickly stopped loosing SO much money and within a month had basically got to a point where he was breaking even....then he increased his OO order size (one of your highest probability type of trades) and then traded the rest of the day with his normal share size, he just said that in the last two weeks he has had back to back winning weeks and now believe he can repeat it, AND by utilizing BT techniques increase his percentage of winners and also increase his overall revenue production and winning percentages.
He admitted he tried his old losing strategy and finally when his ass was kicked enough, he tried it <their> way and guess what he's back on the wining path now.
Summary;
I cannot say how much for ME that this week showed me that I cannot (or Bright) guarantee success but I believe I will be SO MUCH farther ahead and have so much MORE of a chance of success if I put into practice what I've been taught. I AM going to be a successful trader, I just made up my mind this week that I will do EXACTLY what Don and Robert and Earl suggest.
I highly recommend (obviously) if you want to research the BT prop trading firm more, go the the week class, it's a small investment into a potential future that can be more rewarding (and for me it's not just about the money, I honestly LOVE trading) than you could imagine.
GOod luck to all of you and I hope this gave you a glimpse of what a training week at Bright looks like from a brand new perspective.
Good trading all,
mrktwiz - John A.
=============================================
Last day class;
1) Overview and questions;
2) Discussion of student trading strategies; This was interesting and we heard some very good idea's, in fact this gave me a couple of idea's that I would like to test once I start trading.
3) We went over their "duck" list, basically it's a systematic way of approaching each individual trade so you limit your risk and ...well let's just say it force's you to trade using common sense. *** ( By the way I feel this was another extremely important point in the 4 day trading class, but I want to protect their own techniques so you'll just have to attend to get the details, IMHO it was worth attending for this alone) ***
I was more and more impressed by BT using what I call the KISS strategy; "Keep It SImple Stupid" in their instructions, over and over Don would mention information overload and how, if a trader who had too many charts, was regularly losing money etc...Bob his brother would go to the traders station and click,click, click, click close all the "extraneous" charts, filters and other information to get the trader to look at "WHAT IS REALLY HAPPENING *RIGHT* NOW" what is the tape telling you, this is an art tape reading and we discussed this more and more. I have to admit the light bulb went off for me mid-Friday (I know Don but I'm a little slower than others)....it all of the sudden I understood a (small) idea if the basics of tape reading...how to spot a short seller, how to spot an institution to mutual fund buying/selling etc....this is extremely important and more than paid for the class in these skills alone.
We also discussed entry/exit points, we talked about relative strength, momentum trades and more.
Later we continued our discussion of the "psychology" of a trader, how to maintain balanced emotional state, the need to remove emotion from trading. Over and over they hit basic YET very cogent topics to help (especially us new traders) what to look inside ourselves for, weakness's, strength's who are the players, what NOT to do, what NOT to trade, how not together into MORE trouble (doubling up on loosers, etc...) for more advanced traders this must have seemed like simplistic dribble, BUT that (In my opinion) is the STRENGTH of Bright's training, they boil down (now read this carefully) WHAT HAS WORKED MAKING MONEY consistently into a;
a) easy to understand concepts
b) show you consistently winning trading styles
) introduce you every day to 1 or 2 successful traders and here from them what their doing and more importantly how much are they earning.
d)continuing education for all traders is free including access to RObert Bright, quit possibly one of the best minds I've ever had the pleasure to meet. I've worked for the best in high-tech here in Silicon Valley, i.e. Sun Microsystems', Silicon Graphics (when they were hot), Cisco Systems, Seagate, Quantum, and Xerox...I've met scientist at Xerox Research Park and Bob Bright could teach them something of "risk management" and how to give yourself and "edge"
Finally we heard again from Robert Bright, when he talked I tried as best I could to right down everything he said, now I'm biased ..no doubt about it....I LIKE Don and Robert and I LIKE the WAY they teach and I LIKE their company as a whole, and I will be joining their firm...having said that, Bob went through a complete day's trading strategy and it was just amazing, they have the whole day carved up into distinct trading techniques for time frames a small as 2-6 minutes Opening Orders, or for periods of time when the specialist's leave the floor and you might have 1-2 hours of meandering trading an what do you do then? Well they show you just how to approach the whole day, now you understand they really believe in doing it the BRIGHT way...if you don;t want to do that you can trade your own style. Let me tell you about a trader I met that is already trading with BT, he attended the training as part of is ongoing education. He was a great guy and was very candid with me. I asked him what his experience with Bright had been so far (he's been trading 2 1/2 months) he admitted he came into Bright with an attitude and thought he knew something.....well the markets can humble us...he quickly lost about $6,000.00 from his trading account then he started doing his trading the BT way, he quickly stopped loosing SO much money and within a month had basically got to a point where he was breaking even....then he increased his OO order size (one of your highest probability type of trades) and then traded the rest of the day with his normal share size, he just said that in the last two weeks he has had back to back winning weeks and now believe he can repeat it, AND by utilizing BT techniques increase his percentage of winners and also increase his overall revenue production and winning percentages.
He admitted he tried his old losing strategy and finally when his ass was kicked enough, he tried it <their> way and guess what he's back on the wining path now.
Summary;
I cannot say how much for ME that this week showed me that I cannot (or Bright) guarantee success but I believe I will be SO MUCH farther ahead and have so much MORE of a chance of success if I put into practice what I've been taught. I AM going to be a successful trader, I just made up my mind this week that I will do EXACTLY what Don and Robert and Earl suggest.
I highly recommend (obviously) if you want to research the BT prop trading firm more, go the the week class, it's a small investment into a potential future that can be more rewarding (and for me it's not just about the money, I honestly LOVE trading) than you could imagine.
GOod luck to all of you and I hope this gave you a glimpse of what a training week at Bright looks like from a brand new perspective.
Good trading all,
mrktwiz - John A.
Sorry for the poor grammer, incomplete sentence's et all, I left Vegas finally at about 7:00 pm Friday night and got home to Santa Cruz at 3:00am and I'm still recovering.
BUT
I'm really looking forward to moving ahead, start studying for my Series 7 and join Bright Trading. I know their are other prop firms out their, I just feel comfortable witrh Bright after this last week.
Good trading all..
John - mrktwiz
BUT
I'm really looking forward to moving ahead, start studying for my Series 7 and join Bright Trading. I know their are other prop firms out their, I just feel comfortable witrh Bright after this last week.Good trading all..
John - mrktwiz
I don't know exactly who your talking about? So I don't know how to answer, .....we heard about MANY who have tapped out, several who left loosing quit a bit of their money AND the firms....so it was much more than just one individual. I MET one guy who lost over $100K of the firms money, they understood and approved what he'd been doing and let him trade himself out of the whole, he paid it ALL back and last year make about $350K. He is now one of their most successful traders....I don't know to many firms that would stand behind a guy like that.
I might mention they did tell us they have 10 million (minimun)at <<ALL>> times in their account to protect the firm from a trader blowing out, (actually a LOT more than that...), so a one time million dollar loss for this firm could be absorbed quit easily. I don't think they would like it very much though, and of course they try to prevent it, but I'm sure it has happened in the past, and will happen again, They *are* in the business of utilizing risk to make money.
Tradestox, feel free to PM Don directly if you want the details, I personally didn't here that one in particular.
Good trading all.
mrktwiz
I might mention they did tell us they have 10 million (minimun)at <<ALL>> times in their account to protect the firm from a trader blowing out, (actually a LOT more than that...), so a one time million dollar loss for this firm could be absorbed quit easily. I don't think they would like it very much though, and of course they try to prevent it, but I'm sure it has happened in the past, and will happen again, They *are* in the business of utilizing risk to make money.
Tradestox, feel free to PM Don directly if you want the details, I personally didn't here that one in particular.
Good trading all.
mrktwiz
Hey MKTWHIZ!!!
I was at the class you just attended sitting across from you. I too enjoyed the class and have sent in the paperwork to join the company in their new Columbus Ohio office. I have been trading for a few years on my own and will take the next step up and trade as a pro. It was nice just to have someone to talk trading with besides on the chatrooms. As an at home trader there is no one to bounce ideas off and help you use new trading techniques such as "Pairs". I have been shadowing the office manager in the Columbus office for a couple days a week for a few weeks and am looking forward to the office atmosphere. I will be happy to answer questions and post to this thread to help dispel the misinformation many people post for whatever their reasons. Grumpy1
ps: Hi Bob really enjoyed my time in Vegas!
I was at the class you just attended sitting across from you. I too enjoyed the class and have sent in the paperwork to join the company in their new Columbus Ohio office. I have been trading for a few years on my own and will take the next step up and trade as a pro. It was nice just to have someone to talk trading with besides on the chatrooms. As an at home trader there is no one to bounce ideas off and help you use new trading techniques such as "Pairs". I have been shadowing the office manager in the Columbus office for a couple days a week for a few weeks and am looking forward to the office atmosphere. I will be happy to answer questions and post to this thread to help dispel the misinformation many people post for whatever their reasons. Grumpy1
ps: Hi Bob really enjoyed my time in Vegas!Good to hear form you, yeah I was telling my girlfriend what a great thing it was just to be around other traders and to just be able to talk trading and not see the eyes glaze over or hear uh-huh knowing that that person has NO idea what your talking about or even cares.....that was an incredibly great experience just to have that...Hey did you listen to Don, Robert and Earl on the Bright radio show....once I woke up (I pulled into Santa Cruz at 3:00 am last night) I fired up the ol puter and dialed into the streaming show it ws cool......hey maybe I'll see you at Las Vegas office sometime. You should PM me through Elite Trader and send me your email address so we can keep in touch......
Good luck and keep trading......
mrktwiz
Good luck and keep trading......
mrktwiz