To Mr. Bright

O

ojo

I want to be a prop(proprietary?) trader (I dont really understand what I have to do if I become one)

but I want to work for someone rather than being my own.
because I am scared (to be honest)

I feel good committing royality to someone rather than "trade my way to financial freedom (how strange but its my favorate book title :>)" because I dont feel comfortable with too much freedom...from normal american person's view it may be strange thinking

I dont have any real trading experience besides long history of "Paper trading" but after struggling for about 4 years and half finally I got somewhere I feel confident about my strategy and have been fine-tuning it since...

I have about $50k saving and possible backup from my parents and relatives if thats not enough.

I posted earlier and other person told me that you are the one I should ask.

sorry about my bad english and thank you for reading my post.
 
Originally posted by rtharp
http://www.daytradersusa.com/tharp.html

this might answer a few questions

Robert
More...

Robert,

In your article you write:

"There are two main categories for trading accounts retail and professional. Corporate accounts, IRA’s, ROTH IRA’s, SEP, Limited Partnership Accounts, individual accounts, and such are all retail accounts. A retail account is subject to Regulation T, which limits margin to two times equity (known as 2 to 1 account). This includes accounts at firms such as Merrill Lynch, E-Trade, All-Tech, CyberTrader, Terra Nova branch offices like MBTrading and The Executioner and others with 2-1 margin restrictions on equity"

Are you sure traditional and Roth IRA's fall under this category. I thought these were cash accounts only and could not be traded with margin?

:cool:
 

Do some research.

A good place to start to be objective feedback on firms is here:

Elite Members rate Frims

Take special note of Don's comments

Don is a master of defense by attack. He attempts to discredit people and belittle those who point out what is wrong with Bright Trading, suggesting that only a competitor would have an alias and post something negative about his firm.

If you look at how Don rates his own firm, giving his firm a 5 in every category, it speaks volumes about his true nature. We all know no firm is perfect, and is not deserving of a perfect score. They don't try to improve. They are full of themselves.

See if other marketing managers of firms who got some negativity respond in the tactless manner that Don does to criticism. That too will tell you a lot about the man and his firm.

In addition, if you really think Las Vegas is the moral capital of the world, and attracts the types of businessmen who are hypeless and on the up and up at all times, you have a lot to learn about life.
 
Originally posted by ojo
I want to be a prop(proprietary?) trader (I dont really understand what I have to do if I become one)

but I want to work for someone rather than being my own.
because I am scared (to be honest)

I feel good committing royality to someone rather than "trade my way to financial freedom (how strange but its my favorate book title :>)" because I dont feel comfortable with too much freedom...from normal american person's view it may be strange thinking

I dont have any real trading experience besides long history of "Paper trading" but after struggling for about 4 years and half finally I got somewhere I feel confident about my strategy and have been fine-tuning it since...

I have about $50k saving and possible backup from my parents and relatives if thats not enough.

I posted earlier and other person told me that you are the one I should ask.

sorry about my bad english and thank you for reading my post.
More...

I sent you a PM, and will wait to hear from you.

Don
 
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