Quote from Don Bright:
We have a beta test in place, and we do take people with $10K, but I must say with all sincerity that you would be foolish to attempt this with really short funding....remember, the reason 90% of all business ventures fail is lack of funding.....don't fall for the trap of easy money from a couple of grand...use the money to count cards in blackjack or something that is much more likely to offer you success....trading will have to wait.....(not being critical, just honest.....honestly).....
don
Come on, Don.
I've been reading your posts on here and this is what I think is your strategy (and Bright Trading generally)....
#1: Most traders lose money.
#2: Most traders think that trading is both easy and big money.
#3: Most traders lose thier money because they get into big size before having a solid, non-random, consistent strategy.
So, Don & Co. pitch thier firm to address #1 by saying that if you put up more money, you'll last longer. They also satisfy #2 by giving you too much BP initially.
Which leads to the logical consequence of #3 - the only factor that a trading firm cannot control - the trader's decision to make bad trades.
So, when Don Bright comes on here and says you need 25k to even consider trading, run, don't walk away. You are going to lose that 25k using Bright's 1 million in BP at the same rate that you would putting up 5k and trading 100 share lots. The only difference is that Bright Trading pretends to overcome #1 by requiring more money and #2 by providing you with the illusion of riches via too much BP. Oh and, getting you into bigger size means more money for them, of course.
You'd be better served putting up 5k at any arcade and learning how to read the tape. Use another 10k to support yourself while you learn. And then put up another 5k for real if you think you've learned enough to overcome the real hurdle, #3.
