Oh Gee... that sounds interesting... How Many Times Do You Give Us The Boot If We Make An Error...Quote from Maverick74:
Don, if you want to get caught up on things, perhaps I could interest you in my 3 day boot camp?
On Don Bright & his trading methods
- Thread starter Lucias
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Quote from Maverick74:
Don, if you want to get caught up on things, perhaps I could interest you in my 3 day boot camp?
We've got to take that flight from Vegas to NY or visa versa some time! That would be a riot of comedy! All I want to do is sit near you and Don and hope the sky Marshals don't throw me in the clink for laughing so loudly I cause a disturbance.
Yep, one hedge fund manager who was fond of placing big bets was Julian Robertson. In trying to figure out these types of things, the perfect strategy is likely dictated by implicit variables and a function of combinations of factors.
For example, a global macro manager may only have a few opportunities each year and with only a few opportunities, he will have more incentive to bet larger during those times. A day trader trading every single day will probably want to be betting larger about 10% to 30% of the time (the top 10% to 30% of the opportunities). As for size vs volume, again this is likely a function of whether the edge is automated and statistical or of a limited quantity.
But, I think what Maverick hit on was important which is that the strongest statistical based edges are likely to be very small. This works to the disadvantage of the small trader. But, this would also apply to any "average edge". Yet, waiting for a few big trades per year probably doesn't fully take advantage of the advantages a small trader has, either, i.e agility.
For example, a global macro manager may only have a few opportunities each year and with only a few opportunities, he will have more incentive to bet larger during those times. A day trader trading every single day will probably want to be betting larger about 10% to 30% of the time (the top 10% to 30% of the opportunities). As for size vs volume, again this is likely a function of whether the edge is automated and statistical or of a limited quantity.
But, I think what Maverick hit on was important which is that the strongest statistical based edges are likely to be very small. This works to the disadvantage of the small trader. But, this would also apply to any "average edge". Yet, waiting for a few big trades per year probably doesn't fully take advantage of the advantages a small trader has, either, i.e agility.
Quote from LEAPup:
We've got to take that flight from Vegas to NY or visa versa some time! That would be a riot of comedy! All I want to do is sit near you and Don and hope the sky Marshals don't throw me in the clink for laughing so loudly I cause a disturbance.
How about this. How about a lovely 7 day cruise. Don and I will walk around the ship and provide the free entertainment. We'll spend a few hours at the pool debating pairs trading. We'll do a cocktail party where we will debate the importance of futures and options. We'll host a dinner one night debating 3 day boot camps. All while island hoping around the Caribbean. What do you think? Should I call Carnival and set it up?
ABSOLUTELY call and set it up!!!!!!
That would be a trip to remember! Btw, would I be allowed to debate p/a pattern trading during this, or would that cause even more comedy to occur?
You never know. One day, you, Don, and I might launch a HF. I can only imagine the in-person, go to meeting, and skype meetings we'd have!
As has been stated many times on these threads, Bright requires a min. $25K deposit.
As far as success rate at Bright Trading, they usually get about 40 people to sign up for their $1250 "Basics" class. About 20 will eventually join the firm, 10 will be left after 1 year, about 5 after 2 years. Bright will also tell you it will take at least a year for the "average trader" to be profitable. Bright will also discuss the success rate at their classes, but truthfully, they do not dwell on this topic for too long.
Count me in. I'll invite Covel & Proflogic to add to the fun and education. Not to mention Dr. annaland!
Surf
Quote from marketsurfer:
Count me in. I'll invite Covel & Proflogic to add to the fun and education. Not to mention Dr. annaland!
Surf
Surf, you're in! I just need Don to give the OK. Hell Baron could sponsor the thing. Maybe Anna has some friends she could bring?
Quote from Maverick74:
Surf, you're in! I just need Don to give the OK. Hell Baron could sponsor the thing. Maybe Anna has some friends she could bring?
Well, as a Broker Dealer registered with FINRA (sorry about this Don
), it's fully Compliant and legal for Don to fly a prospective new Trader/employee to for example, to the Bahamas for a weekend for an 'about our Firm' kind of event. He can legally/with Compliance approval fly the prospective Trader there, pay for lodging, meals, and entertainment. He is NOT allowed to fly the "prospective traders" spouse or family, nor pay any of their expenses if they accompany the prospective trader, however. He is also NOT allowed to hand money to a prospective trader at this point to "have a good time on." Not even a dollar bill. Literally!
He can, however, (hint! Lol!) pay for the entire trip (only for the prospective trader/employee), pay the airfare, lodging, rental car/limo, meals, and entertainment. He can't buy the prospective trader/employee a new Rolex, and a Ferrari. That won't fly. the above will though.
How about it Don? You hold the event, mav, others, and myself will be there.
Hope I'm not throwing you under the "this is going to get expensive" bus.