Remote trading with Bright

OddTrader · Jul 28, 2006

Quote from Don Bright:

We have no problem with dual registrations (many firms do, however). Full disclosure is all we ask (and don't trade with yourself).

Don

Thanks Don.

Cy_M · Jul 29, 2006

Don,
I'm also interested in remote overseas proping but, I exclusively trade es in which scalping I pick up avg 4 to 8 trades a day n 1 to 3 ticks per trade. I'm trading 10 lots n like to go to 100 lots progressively after demonstrating proficiency.
Now can you be more clear as to when you say equity trading turns out to be more effective in what way? If I wanted to switch to equity, which instrument/ETF/stock would give the closes momentum and return in comparence to ES? and, could you please comapre the tranaction cost of ES Vs, equity, as well as the leverage?

thanks

Cy

Quote from Don Bright:

$15-$20K for equities...$50K for emini's. Since you would have to pay 10 times what the floor traders pay for emini execution, we just don't see any edge in trading them anyway. Everyone who has tried has lost $$, even our most successful traders.

Don

riskarb · Jul 29, 2006

Quote from Don Bright:

they don't bother with trying to pick market direction.
Don

Ancient Chinese sekrit, eh?! Is this the hush-hush pairs trading I've heard so little about?

Actually... I believe Bright's edge to be in their hacking of the European TELEX feeds!!

Don Bright · Jul 31, 2006

Quote from Cy_M:

Don,
I'm also interested in remote overseas proping but, I exclusively trade es in which scalping I pick up avg 4 to 8 trades a day n 1 to 3 ticks per trade. I'm trading 10 lots n like to go to 100 lots progressively after demonstrating proficiency.
Now can you be more clear as to when you say equity trading turns out to be more effective in what way? If I wanted to switch to equity, which instrument/ETF/stock would give the closes momentum and return in comparence to ES? and, could you please comapre the tranaction cost of ES Vs, equity, as well as the leverage?

thanks

Cy

We trade primarily equities. A part of tape-reading for entry/exit is where and how the e's are trading these day. We can easily see short term direction with big cap stocks. Of course there are many factors to the "all encompasing" tape reading. Trading e's, paying 10-20 times in commissions over what the people on the CME pay, is pretty tough to beat.

All the best,

Don

Don Bright · Jul 31, 2006

Quote from riskarb:

Ancient Chinese sekrit, eh?! Is this the hush-hush pairs trading I've heard so little about?

Actually... I believe Bright's edge to be in their hacking of the European TELEX feeds!!

"If only!" LOL,

Don

Cy_M · Jul 31, 2006

Quote from Don Bright:

We trade primarily equities. A part of tape-reading for entry/exit is where and how the e's are trading these day. We can easily see short term direction with big cap stocks. Of course there are many factors to the "all encompasing" tape reading. Trading e's, paying 10-20 times in commissions over what the people on the CME pay, is pretty tough to beat.

All the best,

Don

Don,
Can you explain the comm part again? I pay about $4 round trip for e's, what would I be paying for the equivelant in equities that 1 tick of which would be worth $12.50 and, which instrument would that be? Also the DT margine for e's are $500, again what would that be for the equivelant trading with props?

thanks

Cy

Don Bright · Jul 31, 2006

Quote from Cy_M:

Don,
Can you explain the comm part again? I pay about $4 round trip for e's, what would I be paying for the equivelant in equities that 1 tick of which would be worth $12.50 and, which instrument would that be? Also the DT margine for e's are $500, again what would that be for the equivelant trading with props?

thanks

Cy

My point is that the CME firms pay about .92 cents round term or $50 maximum per day...hard to compete with.

Don

Cy_M · Jul 31, 2006

Quote from Don Bright:

My point is that the CME firms pay about .92 cents round term or $50 maximum per day...hard to compete with.

Don

That's good to know, thanks but, could you answer the rest of my questions above also please? as far as comparing equities to futures etc. in their margins leverage and comms and how can a prop firm help the trader in the above aspects?

Obviously I'm interested in more capital since I'm pretty sucessful with es(like 1% per day avg. n less than a couple of losing days per month) and, am trying to find out what the props firms could offer someone like myself in equities that I could not find in futures.

thanks
Cy

p.s.

the CME firms you have mentioned above, that's their exchange fees but does not include their clearing fees right?

p.s.s.
also, are there prop firms doing futures who would be CME firms and as such their traders would benefit the lower fees?
sorry for so many questions..

Don Bright · Jul 31, 2006

Quote from Cy_M:

That's good to know, thanks but, could you answer the rest of my questions above also please? as far as comparing equities to futures etc. in their margins leverage and comms and how can a prop firm help the trader in the above aspects?

Obviously I'm interested in more capital since I'm pretty sucessful with es(like 1% per day avg. n less than a couple of losing days per month) and, am trying to find out what the props firms could offer someone like myself in equities that I could not find in futures.

thanks
Cy

p.s.

the CME firms you have mentioned above, that's their exchange fees but does not include their clearing fees right?

p.s.s.
also, are there prop firms doing futures who would be CME firms and as such their traders would benefit the lower fees?
sorry for so many questions..

Very little "leverage" with e's. Approx $3500 carrying per contract.

Yes, you may want to contact one of the CME firms (search, there are several)....

Don

Cy_M · Jul 31, 2006

Quote from Don Bright:

Very little "leverage" with e's. Approx $3500 carrying per contract.

Yes, you may want to contact one of the CME firms (search, there are several)....

Don

Sorry, don't intend to seem argumentive just trying to educate myself.......isn't 1 es contract worth about $64,000 at 1280? then wouldn't that be at $500 day marging like 128 times leverage?
What would the similar scenario be in equities? how much leverage does 1 get trading a $20 stock(trading on his own with his own capital Vs, trading for a reputable prop firm like Bright)?