Trading indices at prop firm

Quote from FXTraderWill:

He does endorse directional trading; however, he only endorses trading the direction of a spread between two stocks. Why? Because when you trade spreads, you pay double the commissions. Bright already charges over twice what Schonfeld does; legging in and out of a spread with many thousands of shares at .004-.008 really brings Don the cash (not that I don't think it's fair; it makes complete sense for him, brom a business perspective). I do find it a little annoying, unprofessional, and perhaps even condescending to the experienced traders out there to try to propogate a myth that it's easier to find an edge in picking the direction of a spread between two stocks than it is to pick the direction of a single stock or a single ETF/futures contract is a little ridiculous. Personally, I believe figuring out if a single stock is going to make a move in reference to the US dollar is easier than figuring out in which direction a stock will move in reference to another stock, because I only have to follow one market in "risky directional gambles" as Don might call them... but to each his own...
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Spread trading is not generally referred to as directional trading. It is generally thought of as the opposite of directional trading.
 
Quote from huge230:

Done do you think that pairs trading will be solely run by computer programs someday?
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We have "some" pure automation, but mostly the software we use monitors up to 400 pairs at any given time and gives us alerts based on our pre-determined criteria, that way we can evaluate current market conditions before trading.

Don
 
Yeah, I guess my Clearing Firm lies to me about their arb guys trading pairs, and I guess my friends at eSignal who have helped develop auto-execute techniques for pairs are just making things up. Look, I've never said that pairs is the only thing, just one of the things that is working currently. As far as my brother is concerned, I think anyone who has made, on his own, over 9 figures with personal trading is one of the best.

Sure, we have some sclapers, and we all incorporate all sorts of strategies in our executions - no need to make such a big deal out of discussing strategies, IMO.

Whatever is making you money, stick with it.

All the best,

Don
 
don if our brother is making 9 figure a year that is excellent : )
Do u have any training in NYC about bright boot camp 3 days
Cause i dont want to come all the way to viva Las vegas :- (
Or any other option u have
 
Quote from Mom0/pH0x:

a 9 figure trader would most certainly be on the forbes list, particularly one which was in a high visibility arena like trading regulated products/securities. why is it that don's brother isn't mentioned there? is there anywhere he IS mentioned outside of bright tradings sponsors? not being an ass here, i'm really interested...
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Actually yes. I believe Bob was featured in Trader Monthly in one of their best trader issues. I am almost certain of it. And btw, there are a lot of 9 figure traders you haven't heard of. Most those guys shun publicity for obvious reasons. I'll give you 3 letters....I....R....S.....
 
Quote from Don Bright:

Thank you, it's always nice to hear something like that.

Don :)
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Don is one of the few guys om here worth listening to as he and his brother have built a real business within trading and done fantastically well out of it which is what most people on here should aspire to.
 
Quote from Mom0/pH0x:

yeah of course, but it's hard to hide when you are a trader because of the intensive auditing from firms,exchanges etc...

also, i don't know if he was in trader monthly but he's not on thier top 100 list, which you had to have made 50 mio to have been included on... if so, link us, i'd really like to read more!
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Yes, their top 100 list.....here it is.

http://findarticles.com/p/articles/mi_m0EIN/is_2005_August_18/ai_n14926615

"LAS VEGAS -- Robert Bright, CEO of Bright Trading, LLC, was named in the Trader Monthly "Top 100" list last month showing personal trading income for 2004 estimated between $15-$20 million. Twenty-five-year-old protege Darren Clifford made the "Best 30 traders under age 30" list shown in the August issue of the year-old high-brow trading magazine with an estimated income for 2005 of $350,000."
 
Quote from Mom0/pH0x:

most people should aspire to be brokers/salesmen?
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I was a senior futures/options broker at a major London firm mainly to hedge funds which in the mid to late 90's was some pretty great people and got paid very well for it but in the end all you are is an order monkey. Not very rewarding personally though i think back to what I could be earning and it makes me sweat a bit, oh well
 
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