Quote from logikos:I was a remote Bright trader 5 or 6 years ago. Don made a lasting impression on me.I was also running an IT consulting business as a software developer and had been doing so for the prior 10 years. My biz was booming during those days and was making very good money (300K a year), and I set aside trading for a while to tend to it.Don calls me and complains that I haven't been trading much and they cannot park my Series 7, and he asked me to withdraw. I explained I still planned on trading but I was seriously busy with my work, and I would resume when time allows. He asked me what I did, and I told him I was an IT consultant. He said (and this is burned in my memory), "Oh! I thought you had a REAL job!" I seethed for what seemed to be eternity, then politely told him to send my withdrawal forms, because I will be doing it immediately. You can draw your own conclusions....
As far as technology goes my impression about Don, his shop and ALL of what they offer is the same as yours.
Quote from JackDogII:I have been to Don's shop 3 times over the years and have yet to understand the attraction - If you have the ability and the record you can find full backing w/o the fees and feature lite trading platform and if you are a beginner the last thing you need is training that produces a high failure rate along with high fees and even higher leverage.
Each time I was left with the distinct impression that if you were to look up Luddite in Wilipedia you would see a picture of Don. Given his industry and his position in that industry my impression was that his technical naïveté was shocking. It was as though he had never heard of intelligent agents, data mining or any of the other smart technologies that drive and execute most of today's trading volume.
Still looking for those fees and maybe a mention of even one feature of the training or technology that is unique to Bright and that Bright feels gives the new supplicant even the slightest edge - I couldn't find even one.Jack
Don once told me in no uncertain terms that there is no software that can help anybody either trade or learn to trade. That, the cavalier attitude, the high failure rate, high fees and juice all explain the decline at Don's shop and also might give a clue as to why he changed the name of his business/building.
The retail prop industry is in dramatic decline and has been for some time. In my opinion Don and his shop are perfect examples of why.
I think it is a good thing when changes in an industry cause it to shake out the bottom feeders.
My opinion is that if Don offered even an even money chance at success we wouldn't see the vague references to his "deal" on here because he would have way more business than he could handle and there would be legions of successful traders bragging about all the $$ they earned trading w/Don.
Those without the experience of actually trading w/Don, myself included, don't really know the true nature of the deal. There are (again my opinion), however, many indications that it is nothing more than an elaborate process that milks those too naive to see it for what I and others think it is - no technology edge, no edge from training, high fees, high failure rate.
A straight forward statement of ALL fees and terms, a statement of success, failure and longevity of all those who signed up over the last 3 years and some idea of why/how/what edge anybody at Don's shop might get for all that time and all those fees would go a long way towards changing the image held by some about shops like Don's. I wouldn't, however, hold my breath until such complete disclosures are forthcoming.
The last time I was in Don's shop it looked dirtry and old. The technology was miles from state of the art and the trading room I was in only had a few in it and they were all guiet, not trading and looking lost.
Jack
