Prop firm (bright?) for nondaytrading buy-hold stocks?

econometrics · Jun 23, 2011

hi, i have a couple of stocks (pairs) that i would like to buy and hold (for maybe 2-3 months) instead of daytrading. I can deposit 25000-30000 USD.

The thing is I want more margin than 50%.

I like InteractiveBrokers' commissions, data fees, lack of software fees. No commissions for the first 3 months, so almost free except for the initial $10 data fee.

Is it possible (what are the cons?) to buy and hold some paired positions for a month using Bright? Besides the "upside" of more leverage, what will be the downside? Is the software fee the only downside?

t0pd0g · Jun 23, 2011

I believe Bright now has a profit split of 80%. That would be the only downside. But if the Bright structure of allowing you to hold overnights makes you money then it would be worth giving up 20% of your profits. Bright is a good firm.

EvOTrAdEr · Jun 23, 2011

doesn't bright clear with goldman? goldman holds back the 20% profits, don't they?

Maverick74 · Jun 23, 2011

Quote from econometrics:

hi, i have a couple of stocks (pairs) that i would like to buy and hold (for maybe 2-3 months) instead of daytrading. I can deposit 25000-30000 USD.

The thing is I want more margin than 50%.

I like InteractiveBrokers' commissions, data fees, lack of software fees. No commissions for the first 3 months, so almost free except for the initial $10 data fee.

Is it possible (what are the cons?) to buy and hold some paired positions for a month using Bright? Besides the "upside" of more leverage, what will be the downside? Is the software fee the only downside?

I'm not sure if Don is going to let you come and basically not trade. Someone has to pay to keep the lights on you know.

DonKee · Jun 23, 2011

Yea, Bright used to have a $400.00/month desk type fee unless you did a certain number of trades. Plus there'll be a haircut for using their money.

How is it that people who have money making strategies, don't just build up their account? You might be doing yourself a favor by being margined at 50%.

I've been trading for 30 years and I can tell ya, there's always another "bus" coming round that corner.

Maverick74 · Jun 23, 2011

Quote from DonKee:

Yea, Bright used to have a $400.00/month desk type fee unless you did a certain number of trades. Plus there'll be a haircut for using their money.

What? Dammit Don, how many yachts can you water ski behind? How many?

Don Bright · Jun 24, 2011

Actually, it's all in the numbers. I suggest you call me to get the real facts about it all...nothing "magical" - I'll send you a PM with my cell number (still working at home these days).

Don

Maverick74 · Jun 24, 2011

Quote from Don Bright:

Actually, it's all in the numbers. I suggest you call me to get the real facts about it all...nothing "magical" -

Don

Hmm....

EdgeHunter · Jun 24, 2011

Quote from econometrics:

... snip... (re: BrightTrading)... Besides the "upside" of more leverage, what will be the downside? Is the software fee the only downside?

Brights Costs:

Start Up Fees/Costsâ¦

1) Acquiring Series 7 Lic and misc stuff for Bright before joining: About $1000.00

a. Includes Cost of Studying & Passing The Required Series 7 License Testâ¦
b. Does not include The Time Costs to You Spent Learning & Doing It

Yearly Feesâ¦

1) Yearly Exchange Fee: $500.00

Monthly Feesâ¦

1) REDI Software & Desk Fee $200 A Month: If You trade less than required minimum volume

2) Internet Fees: $30 A Monthâ¦

3) PROFESSIONAL STATUS Data Costs for NYSE, NAZ, etc Stock Dataâ¦ Approx $100 a month.

Sum of Approximate First Year Costsâ¦

about $4800.00 to $5800.00 not counting trainingâ¦

*******************************************************

But if You Are Smooth Talked Into Taking The Trainingâ¦

Then your costs are about double your first year of costsâ¦

About $8000.00 for the first year costs in total if you take the trainingâ¦ if not moreâ¦

The Optional But âRecommendedâ Training Costs For Bright Las Vegas Location Training:

If You take BOTH the 3 Day Training Class + 2-4 Week Boot Camp

Cost of Training Somewhere between $1000 to $1500 or more
+ Add Hotel Costs, Transportation Costs, Airplane Costs, Food Cost - about $1500.00 or more...

You should not take this training unless you like throwing money awayâ¦

See my attached word doc on VALUE of Bright Trainingâ¦

BrightTrading Training Is Worthless & Costly.doc

Best of Luck To Ya Laddieâ¦ Choose Wiselyâ¦

econometrics · Jun 24, 2011

agree. thanks

Prop firm (bright?) for nondaytrading buy-hold stocks?

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