Stats on Bright Trading

Quote from roberk:

this is where Don enters and tells us about his pair traders in Canada.:D
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No, actually this is where Don enters and simply asks that someone from any big Firm responds at all, with anything at all, from their side. I have posted our numbers a million times on ET, just do a search and you'll find them.

Give me Assent, Hold, and/or Echo numbers and I'll post mine up again. remember, these numbers go straight to the SEC boys (so no exaggerating, LOL). You guys need somethingto compare to I suppose.

I will say that those who attend training and bootcamp have a much higher success rate, but that's to be expected since these people are generally more serious about their careers.

We are probably the most transparent Firm out there, but I don't think it's fair to have that in any way look like a liability. So let's do some comparisons.

While were at it, let's check with IB and eTrade as well, LOL.

An individual game, but if you're going to do it anyway, you may as well give yourself the best chance to succeed.

All the best,

Don
(Not falling for the all "do you still beat your wife?" bait and trap, LOL)
:cool:
 
actually whenever I have seen Bright's numbers they have always been qualified.

I have seen him post numbers a dozen times too, but I have never seen the numbers that the initial poster requested.

It always like "50% of the traders who trade for over a year - make it two years."

If you find numbers otherwise using the search function let me know what boolean terms worked for you.
 
Boy, couldn't keep up with the posts as I was trying to answer the basic question.

As far as "qualifications" goes, we provide services to the independent trader, not "jobs" for people who want jobs. We cannot discriminate, although I will admit there have been many time when I "suggested" that certain people consider another line of work.

And, if someone can give me a detailed list of what qualifications successful traders have, please email it to me. In our 25 years in the business we have been surprised (very surprised) on both sides of that discussion. Some who I never thought should make it are doing extremely well, and some who "should" do great go broke because of poor work ethics.

Those who are looking for guarantees in any business are clearly not the same group looking to become successful, independent traders.

All the best, still waiting for the other Firm's to respond.

Don
 
Mr. Don Bright, can you simply answer the questions, by posting NUMBERS:

* 100 people sign up for the Bright Trading Boot Camp

- How many people after 6 months are still trading?

Answer:

- How many people after 6 months are profitable?

Answer:

- How many people will eventually be able to make 100,000 / yr?

Answer:

- How many people will eventually be able to make 250,000 / yr?

Answer:


Just post the numbers. Thank you for your kind co-operation and ' transperancy'.

50
 
<b>Don, lescor, et el</b>... you are defending positions that require no defense or apology.

The vast majority of people who explore our profession in any manner DO NOT enter with realistic expectations of what's involved. Any education is far, far better than dicking around on one's own with real money at play. I'm quite sure I would learn reams at one of Bright's camps, and equally sure I could make money with that info.

By the very same token, I understand it would take lots of time and effort committed on my part to learn, understand and trust the method tools.

*

Stats on failure of students = clients thru Bright or anywhere else are pure crap. Place the barrier of entry on trading at $100k mandatory tuition, and there'd be far less "failures" out there.

Likewise, give anyone who wants a McDonald's franchise keys to their own restaurant for $5,000 and see how many stay open & profitable for five years or more.

BTW... I have no dog in this hunt. I'm merely an emini trader who prefers to trade from home, for better or worse :>)
 
Yup... much better roi than the franchise route. Problem is, most aspiring traders think they can learn the ropes free or low-cost and earn while they learn. Aspiring franchise owners have fewer delusions and more capital (by force) to begin with.
 
i constantly see (supposed) traders here say how impossible, or next to impossible it is to make it as a trader.

hey, it;'s hard work, but compare it to ANY OTHER SMALL business

trading comes out even or ahead in many areas.

first of all, MOST small businesses fail. restaurants, especially. does this mean its stupid to open a small business?

every major business u see (walmart, starbux, etc.) started out as a small business. this IS the land of opportunity, and trading is no different.

trading requires far less capital to start than most small businesses, FAR less overhead, no employee hassles, and your success or failure is PURELY your responsibility - no employees or fickle customers, or product suppliers, etc. to blame

also, to again use the business analogy, ime too many traders do NOT treat this as a serious business, not in their attitude, their preparation, their execution, their reviewing of past trades, etc.

i'd hazard a WAG (wild assed guest) that 50% of daytraders are almost completely ad hoc in their business plan, position sizing, etc. and that's just insane.

nobody would open a restaurant or accounting business, and just "wing it", but many traders do.

there is no more democratic marketplace/business arena in the world, than the electronic markets. there is no discrimination on account of race, gender, class, etc. get your order in first in the book, and you are first filled at that price - PERIOD.

there is no business where you are more guaranteed of equality (i'll leave out IPO's for now. those are biased towards the institutions).

there is phenomenal opportunity out there, and amazing flexibility to choose from in markets to trade, trading styles, etc. etc. etc.

i also object to the person's comment that many traders came here cause they had nothing better, etc. i know some successful traders who have quit very lucrative and/or great careers to trade, cause they WANT to, not cause they have to.

but again, the best thing about trading, imo, is the fact that your success or failure is 100% in your hands.
 
Quote from Don Bright:

No, actually this is where Don enters and simply asks that someone from any big Firm responds at all, with anything at all, from their side. I have posted our numbers a million times on ET, just do a search and you'll find them.

snip ...

All the best,

Don
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Since I have never traded "retail" prop, and I have a significant amount of respect for Don's reputation in the business (I still hear stories about the Bright brothers sometimes from ppl I know on PSX). I figure I will do a simple search, it took, all of 3 mins. This particular topic was addressed in the following posts:

(dated Dec '04), http://www.elitetrader.com/vb/showthread.php?s=&postid=656241&highlight=success+rate#post656241
(dated Nov '04), http://www.elitetrader.com/vb/showthread.php?s=&postid=626082&highlight=success+rate#post626082
(dated Dec '02), http://www.elitetrader.com/vb/showthread.php?s=&postid=164980&highlight=success+rate#post164980
(dated Aug '02), http://www.elitetrader.com/vb/showthread.php?s=&postid=102638&highlight=success+rate#post102638

So to quote Don a bit further (from the Nov '04 post);

As far as "statistics" go, I've never said that there is not a big failure rate in this business, it is not easy (simple, but not easy)....and since 90+% of all businesses fail, our success rate (documented several times at 70% of traders who make it the first year) (and, yes, about 50% don't make it the first year), so that is still 35%....a pretty good number (as reported to regulators).
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As for the amount of profits that a trader makes, please keep in mind that the traders at firms like Bright are "indendent traders" who are serviced by Bright, which provides technology, leverage, etc, while charging a per share fee (I think, not sure). Hence, in a way, other than risk manage the traders (position limits, and loss limits, at least), the amount of money that a trader makes (as versus losing) is really none of Bright's concern.

Disclaimer, most ppl know that I generally dislike the "retail" prop model, but that's just a persona opinion, I spent almost my entire career on the institutional side. But fair is fair, Don has made general sucess figures clear several times in the past, and there is no need to go through it again.
 
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