Stats on Bright Trading

if there is 90% success, it means that regardless of the trader's unique characteristics, he is most likely to be successful, thanks to the edge he's being taught.

if there's 10% success, it means that most people cannot successfully apply what they are taught at Bright, and thus, their training is useless to most of those who want to trade there.

the fact that Don Bright refuses to disclose the numbers, clearly state that most traders there fail, and therefore their methods are only useful to a small and unique subset of people.

and anyone who thinks of applying to Bright, should be aware of that fact.
 
Quote from 50 cent:

if there is 90% success, it means that regardless of the trader's unique characteristics, he is most likely to be successful, thanks to the edge he's being taught.

if there's 10% success, it means that most people cannot successfully apply what they are taught at Bright, and thus, their training is useless to most of those who want to trade there.

the fact that Don Bright refuses to disclose the numbers, clearly state that most traders there fail, and therefore their methods are only useful to a small and unique subset of people.

and anyone who thinks of applying to Bright, should be aware of that fact.
More...

Fact is that no matter what the success rate is at Bright, you have no point of comparison anyway. If Don told you 3/100 people now make 100k pa, how would you know whether that was better or worse than average?

Yes, a Bright "education" will not guarantee success. But there is no trading eduction that will guarantee success, or even a better chance of success if the student was unsuitable to trading in the first place. All it may offer is a steeper learning curve if the individual is suitable for trading. Anyone entering trading AT ALL should be aware of the v high risks.

BTW - I also do not work for Bright. I started trading at an IB and now trade my own fund.
 
Why do you guys worry so much on what other traders are making/doing...you should constantly be focusing on your methodology and how to be a better trader.
 
Get a book guys, couple days of training at BT won't do you much good no matter how good is the instructor. It takes an artist years of schools and training to be good, so is trading.
 
No matter what figures Don gives...

95+% will fit into the xx% failure rate which Don may provide. So there's really no point of mentioning it, and it's irrelevant. Especially, with the fact that you care about how others trade and expect to be "taught"....
 
the guy who started this thread asked for statistics because he probably wanted to know:

* 'does training and trading at bright significantly improves my odds of being a successful trader?'

the answer to that, compounding all your answers plus Don's reluctance to post numbers, is:

* Almost Certainly Not.


case closed.. all the best, 50
 
Good conclusion!

I am wondering why anyone wants to be botherd with wasting money & time to get license & then to learn scalpe stocks. Pair trading is very good to generate commissions, not necessay good to make money.

It is easier to scalpe eminis.
 
Everyone is always asking why should I be concerened about stats and how much does the average make.

(1) Bell Curve- the far majority of people fall into the catagory average. Do I hope to be better than average yes. But I have to assume that I will most likely fall in average. That's just how it works. So if I do Bright Trading I would like to know what is my most probable profit if I make it?

(2) Trading is going to take time and money. If I am going to be putting in time and money say for six months learning how to trade and the chances are like 1 in 500 and the trader that makes it is only making 70,000 a year... well THAT is why I want to know stats. So I can make a decision to NOT take the gamble.

Alligning yourself with BT is no more than a simple gambling problem.
Say 90% don't make it and lose 15,000 (on average) + say they would make (30,000) in that 6 months.

So 90% of the time you are losing 45,000

Say 10% of the time each year you average 150,000, and you did trading for 10 years. Say if you didn't do trading for 10 years and worked at a regular job you'd make 80,000 on average for 10 years. So if you are successfull at trading you making (150,000 * 10) - (80,000 * 10) = 700,000 more dollars.

So here's the equation - (9 * 45,000) >=< (1 * 700,000)

So as you can see in this equation it would be worth it to take the gamble.

Now I know that I am going to get all the numbers, but I know that some variables of the equation are known, which can help me make a better decision to as to if this is worth my time.

If anyone has ever looked at starting a business / buying a franchise you'll ask someone well how does the average person in the business do, and they'll say well it depends. NO IT DOES NOT DEPEND. The average is an average for a reason and it is the most like indicator as to how you are going to fare... simple rules that we learned about the bell curve in school.
 
A lot of people at those boot camps have never used a computer in their life. They don't know the difference between a sell and a short order. They can't calculate the envelopes which Don uses for the Opening Orders manually. As long as they have the $2000 for boot camp, money for $400 desk fees and commissions, they can sign up.

The numbers are low like 1 in 100 being successful (50k+) after a year. This is just my guess.

I believe those numbers apply to all prop firm training, not just Bright.
 
Again, we provide capital and show our new people how hundreds of people are making money...some will "get it" some won't. And, yes, we even try to help with the computer / software basics when required. We progress through the weeks as quickly as we can.

Still waiting for any other firm to respond, but I have to say that I think this thread has added quite a few attendees for the next class (funny how things tend to work out after all).

If you're making money doing what you're doing, keep doing what you're doing, I wish you all the best. If you want to speed up a newbie learning curve, great, if not, no problem.

I could obviously post a bunch of accolades and testimonials about our training, from our basics to Rob's advanced pairs stuff, but that wouldn't convince those who won't be convinced, just like a few naysayers won't convince anyone to not make their own decisions.

It may be sport to try to get me on the defensive for some reason, but I think our place within the industry speaks for itself. Many of the posts here have said all this probably better than I.

(Thanks for the many PM's, always nice to get).

Now, let's get back to trading ...however and whatever and wherever you like, its a free Country.

Don:)
 
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