Volume at Bright Trading Looks Like its Caught a Bid !!!

OVERtheLINE · Aug 7, 2003

according to www.traderbulletin.com

"Volume at Bright Trading, one of the nationâs largest day trading firms, is up 15% from the yearâs lowsâand down 25% from the peak in 2001, according to Don Bright, as quoted in the USA Today."

TM_Direct · Aug 8, 2003

Quote from OVERtheLINE:

according to www.traderbulletin.com

"Volume at Bright Trading, one of the nationâs largest day trading firms, is up 15% from the yearâs lowsâand down 25% from the peak in 2001, according to Don Bright, as quoted in the USA Today."

Hope Don doesn't threaten a law suit for you quoting him!!

rttrader · Aug 8, 2003

..here is the link to the article in USA Today if anyone is interested in the article quoting Don Bright and talking about the "state" of daytrading in general.

Interesting..

http://www.usatoday.com/money/markets/us/2003-07-28-daytraders_x.htm

rttrader -

Don Bright · Aug 8, 2003

I won't sue Melanie, she actually got the numbers right. We're riding the "peaks and valleys" just like everyone else, but it seems that we are doing better than most.

Don

TM_Direct · Aug 8, 2003

Quote from Don Bright:

I won't sue Melanie, she actually got the numbers right. We're riding the "peaks and valleys" just like everyone else, but it seems that we are doing better than most.

Don

Peaks, valleys, ..Man don, you left yourself open with that quote...I hope Optional is still on vacation

TraderNYC · Aug 8, 2003

Don...I have been reading Elitetrader for a while and am curious what the average Salary is of your traders? You must know or have a general number....

PS: I currently work for Caxton Associates run by Bruce Kovner...I am a TA.....and want to trade on my own so bad....

theShadow · Aug 8, 2003

You've got to be kidding. No salaries at any prop shops. More like desk fees. Thats equivalent to a negative salary.

Don Bright · Aug 8, 2003

We cater tp the "successful minority" who put up some money, pay low costs, and get their desk fees back (the average traders, and the rest get a portion). You get to keep 100% of your profits, so your "salary" is entirely up to you. There are no "jobs" on Wall Street or anywhere else for that matter. Most traders will fail, but those who run their trading like a business have a much better chance than those looking for something for nothing.

I wish you the best.

Don

OVERtheLINE · Aug 8, 2003

Quote from Don Bright:

We cater tp the "successful minority" who put up some money, pay low costs, and get their desk fees back (the average traders, and the rest get a portion). You get to keep 100% of your profits, so your "salary" is entirely up to you. There are no "jobs" on Wall Street or anywhere else for that matter. Most traders will fail, but those who run their trading like a business have a much better chance than those looking for something for nothing.

I wish you the best.

Don

Don,

when you speak about the "successful minority"
what would you guesstimate that % is?

also what are the biggest reasons off the top of your head that seperate these people from those that dont make it

Don Bright · Aug 9, 2003

Quote from OVERtheLINE:

Don,

when you speak about the "successful minority"
what would you guesstimate that % is?

also what are the biggest reasons off the top of your head that seperate these people from those that dont make it

If you think about, 95% of all business ventures fail....we do about 5 times better than that. Those who don't "adapt" to the market (pennies, etc.), and stay stuck in some old strategy are doomed. This is one of the reasons that I'm participating in the Pro Trading Tour.....to show people what is working

Don