Opening Orders - 2008
- Thread starter Don Bright
- Start date
Questions for Don or whomever...
Question one:
If NYSE trading becomes 100% electronic, will the opening order technique cease to work?
More questions:
It appears from my reading that traders can make money over the long haul at Bright Trading by using statistically advantageous approaches, such as the opening order technique. How does Bright Trading keep these techniques "in the family" of Bright Traders? When Don and Bob die, or when other key personnel move on, who will generate new techniques?
What prevents key statistically advantageous techniques from being used only by a select few traders in the Bright inner circle?
In the spirit of due diligence, not cynicism, I ask the following questions:
Is it that a few inner circle Bright Traders have access to the latest statistically advantageous techniques, and the rest of the Bright traders are kept around to generate monthly revenue for the inner circle, until they crash and burn? Is it that a just select few of each round of new hopefuls, after paying several thousand for the initial training, somehow become privy to the inner circle's techniques, possibly by simply being well-liked or charismatic, or by showing that they can add value in some way?
I am not intending to be cynical, just realistic. Why would a Bright Trader share a good new technique to every hopeful who pays for the initial training?
I am writing this because a career with Bright seems appealing, but I am doubting that each wave of newbies who pay thousands from the intial training and risk $15k or whatever for the initial bankroll will actually have equal opportunities.
Thanks in advance for any comments.
Question one:
If NYSE trading becomes 100% electronic, will the opening order technique cease to work?
More questions:
It appears from my reading that traders can make money over the long haul at Bright Trading by using statistically advantageous approaches, such as the opening order technique. How does Bright Trading keep these techniques "in the family" of Bright Traders? When Don and Bob die, or when other key personnel move on, who will generate new techniques?
What prevents key statistically advantageous techniques from being used only by a select few traders in the Bright inner circle?
In the spirit of due diligence, not cynicism, I ask the following questions:
Is it that a few inner circle Bright Traders have access to the latest statistically advantageous techniques, and the rest of the Bright traders are kept around to generate monthly revenue for the inner circle, until they crash and burn? Is it that a just select few of each round of new hopefuls, after paying several thousand for the initial training, somehow become privy to the inner circle's techniques, possibly by simply being well-liked or charismatic, or by showing that they can add value in some way?
I am not intending to be cynical, just realistic. Why would a Bright Trader share a good new technique to every hopeful who pays for the initial training?
I am writing this because a career with Bright seems appealing, but I am doubting that each wave of newbies who pay thousands from the intial training and risk $15k or whatever for the initial bankroll will actually have equal opportunities.
Thanks in advance for any comments.
I think you are way "overestimating" the value of an approach to trading that may be statistical advantageous and way "underestimating" the psycological make-up of a profitable trader.
ie:
Don and Bob have taught 1000's of traders the OO strategy at their paid sessions and through ET, yet, there are really only a small per cent who continue to do it and fewer who are profitable at it.
Many strategies are profitable for some, but not profitable for many.
That is the beauty of the trading world. Most who enter it vastly underestimate the psycological and money management aspects involved in being successful at it and vastly overestimate the method of a strategy. (probably because it is the easiest to learn and execute).
3 long, 1 short, +451, 3300 shares
Added 18 stocks to my list over the week end. Increased the size a little on some.
1 fill, 1 long, small profit. Could have been better.
Cancelled a lot and played wide on the envelope.
1 fill, 1 long, small profit. Could have been better.
Cancelled a lot and played wide on the envelope.
I could hear the strains of "Dueling Banjos" as ABT nailed me this morning. Thanks for the news release at 9:30!
5 short, 2 long, -2077, 8400 shares.
A decent day otherwise.
5 short, 2 long, -2077, 8400 shares.
A decent day otherwise.
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