open a branch / trading group

Quote from saltycoot:

Anyone who has to advertise as much as Don Bright probably can't be trusted imho. This guy's got over 10000 post all of them where he's trying to sell people on joining his firm. I'd check out hold brothers, Schonfeld Group, Chimera Securities, G2 trading, and Echotrade you could also try checking some of the sponsors below as well. I wouldn't recommend Bright due to the fact it seams like most of his trading business is devoted way to much to marketing than to what it's supposed to be trading! Don Bright = used car salesman.
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I think you just lost 98% of people that take you serious.

You come on as a clueless noob and attack an elder statesman of Daytrading/day trading inudstry.

Bright is not the cheapest, but he is solid, they have bee around 30+years, his brother has made 100's million trading. And they are financially very sound. they will show you thier financials if you ask. they will let you visit headquarters if need be.

Try getting that or even half of that from any of those shops above.

Before you sound like a bonehead, next time, might want to do some background on people or this industry.

EF
 
Heard that Hold Bros may be moving to midtown Manhattan. Anybody know when and where the office is located? Better than Jersey City.
-tx
 
I don't know Don but he is clearly very highly regarded by many people who got their start with him. The single best thread I have ever read on ET (or anywhere else for that matter) was from a poster named Maverick who walked his audience through Tape Reading 101 about as well as Henry Ford might be at giving you a tour of a car factory. It was truly an incredible thread. Whoever made the decision to delete the thread shoud be drawn and quartered. Don contributed to that thread and made a great thread even better. But the key was that Maverick -- who was is as real a trader who has ever posted here -- interacted with Don (who he clearly knew well) as someone he held in high regard.

No one should talk negatively about a man because he promotes his business well. Mr. Bright has a reputation as a straight shooter. And that is according to many who have not worked with him for years but feel they got a very fair shake when they did work with him.

Quote from saltycoot:

Anyone who has to advertise as much as Don Bright probably can't be trusted imho. This guy's got over 10000 post all of them where he's trying to sell people on joining his firm. I'd check out hold brothers, Schonfeld Group, Chimera Securities, G2 trading, and Echotrade you could also try checking some of the sponsors below as well. I wouldn't recommend Bright due to the fact it seams like most of his trading business is devoted way to much to marketing than to what it's supposed to be trading! Don Bright = used car salesman.
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Quote from saltycoot:

Wow what do you guys all work for Bright if you do u guys are morons not to say that bright is the worst firm to go to. But lets consider this if you do 2 million shares a month it's .003 a share, with that much volume you should be getting at least .002 if not better! I'm not going to even mention the training and software fees. You should not have to pay for training, hell there are firms that we'll pay you a salary as well train you for free!

Let us think about this does a company that spends most of their time devoted to trying to get anybody and everybody to join their firm really have your best interest at heart? Are they really going to have the support as far as training goes. Most firms that bring new traders do it because one of their traders referred that person or group or they posted on career builder. I never hear about anybody talking about going to Bright both here or at the firm i'm at which I didn't even mention as a place to go to when i originally posted!

In keeping to the original post I'm going to add some more firms that I would check out Shortseller

First New York if you can get in
Title Trading
Paramount Equity Partners
Swift trading if your in Canada.
SMB Capital
T3 Capital
Geneva Trading
D.E. Shaw
Cy group Trading
AMR Capital
Trillium

By all means don't just take my word for it do your own DD who knows there may be a chance Bright does work for you but the chances are pretty high that you can find a much better deal somewhere else.
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Salty, your looking at things through your prospective, the perspective of a daytrader. Nothing wrong with that and if that was mymodel, I would also agree with you...... Obviously you could get cheaper rates.

But many trade with other models and methods and prefer Bright because they understand them and they give you the tools and cheap overnight leverage to help in implementation...

IE: Pairs Trading involves overnight trades lasting weeks sometimes. Guys trading like this are more interested in overnight Interest charges and from what I understand Bright charges 1.7% for up to 6x which is great...

They have also been around the block a few times so it help put people at ease...


People need to find a firm that meets their style of trading. And No I dont work for Bright although I am planning to if I can get out of my real estate prison...lol But again, I want to go there because they would give me the tools I need. Where else can you get great overnight rates from a prop broker. The closest I have seen is IB and that would mean I would have to tie up at lease 125 to 150k to get the buying power I need with p margin... Why do that when going the other route I would keep my capital free for other investments I'm thinking about.... Plus if I'm lucky, I may pick up some new and better techniques from more experienced traders who trade like I do....

TO each his own I guess....

Nick
 
Quote from saltycoot:

But lets consider this if you do 2 million shares a month it's .003 a share, with that much volume you should be getting at least .002 if not better!
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I don't know Don from Adam, but I do know what rates are available in a number of places. I can tell you 2mm shares/mo isn't that much. It would be especially hard to find better than .002 with that volume at a registered BD/non-sub llc.
 
as far as i heard, bright is a nice firm but with higher deposit requirement and more expensive execution fees. if possible, can you please, mr. don, list your fees structure, deposit requirement, platform entitlement, profit split ratio etc here so that we can compare it with our current deal from other firms. thanks.
 
Quote from dejavu8:

as far as i heard, bright is a nice firm but with higher deposit requirement and more expensive execution fees. if possible, can you please, mr. don, list your fees structure, deposit requirement, platform entitlement, profit split ratio etc here so that we can compare it with our current deal from other firms. thanks.
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Good Idea, please PM me what the other top firms are posting these days (haven't checked in a while) and I'll create a matrix for everyone to see.


Don
 
Don, I have a couple of clients using Bright for their equities. Any chance you could arrange a give-up agreement for them to execute the occasional futures trade? Think of it as a limited omnibus account; they didn't seem thrilled about IB.
 
Quote from bone:

Don, I have a couple of clients using Bright for their equities. Any chance you could arrange a give-up agreement for them to execute the occasional futures trade? Think of it as a limited omnibus account; they didn't seem thrilled about IB.
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They are welcome to open an outside account anywhere they like.

Don
 
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