Why Did Bright Close It's Dallas Office?

Quote from Bsulli:

For those who want a prop shop in Dallas as I stated earlier pick a date, place and time and meet on putting a plan together that makes sense to any of the major prop shops and see what comes out of it.

I'm sure there are owners of existing shops that would be more than happy to provide guidance and input to make an office in Dallas successful. Their in the business to keep traders profitable so the office will survive. If it makes sense they will take you up on it.


One suggested date would be the next AFTA meeting in Sept. Folks could meet before or after in the hotel lobby or bar area and discuss the initial steps. AFTA is full of brokers and manager members and some of them would probably sit in if given a heads up. Of course many of them would rather you just use there existing services but there are a handful of hedge fund managers that attend as well that are always open to discussions. I know Southwest Securities has a big presents at the meetings and on the board.

I don't know if Don is coming back this year to do another presentation or not. If so and those who want to start a shop could probably get an audience with him. I found Don at the last meeting to be nothing but a professional. He spent a great deal of time answering side bar questions after the meeting and during break.

I have to admit for as long as this thread has gone on people have managed to remain civil which doesn't always happen. :-)


Just my two cents worth and according to today's business section inflation now makes it only worth 1.21 cents.

Good luck and good trading.

Bsulli
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have you adjusted the two cents for the rise in copper?
 
how come you say the two cents is worth 1.21. shouldn't it be worth 2.42?

your two cents worth of opinion is worth the full two cents
 
Quote from Don Bright:

.................
That being said, our top traders are all remote at this point in time (except for my brother of course). One has never been in an office and is up nearly $2million YTD. The others have had office experience..........

Don
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$2 million.... pairs??? position trading???
 
Quote from ratboy88:

$2 million.... pairs??? position trading???
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I know you're going to think I'm avoiding the question, but the honest truth is we don't know exactly how he does it. I know he takes home a few million in hedged positions (indicating pairs, of course), but his intraday stuff in pretty active, usually only in a few stocks.

And to our Dallas friends...if you guys get enough people in one place at the same time, let me know, PairCo and I might just fly in for an evening or so.

Don
 
Don, I have some Q's for you. When the Dallas office was open, what was roughly the maximum number of traders that were there. and many remotes does Bright currently have that live around DFW ?
 
Quote from Don Bright:

That being said, our top traders are all remote at this point in time (except for my brother of course). One has never been in an office and is up nearly $2million YTD.
Don
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I rest my case.
 
Quote from Maverick74:



There is a very simple truth here that perhaps the Brights are not willing to share. And that is, most traders don't make money. Therefore, having an office is a difficult proposition.

They either can't afford the desk fees, need to get another job on the side, or don't wish to be humiliated by being around other profitable traders when they are not making money.

Trust me, any trader worth his salt will choose to be in a productive office over sitting at home by yourself. I say this as a guy that has done both and currently runs an office. I am intimately aware of all the problems that go along with having an office. I don't care how hot it is outside, how much traffic there is, or any other excuse, I will never trade from home ever again. There is nothing in the world that can replace not only the social atmosphere with being around others guys that trade and love what they do, but also the synergies that come from sharing ideas, working on projects together, sharing research and trading ideas and so on.

In fact, I'll take this a step further and say probably the number one reason why so many traders fail is because they trade alone and from their homes. Do you guys think any of Goldman's traders trade from their house or apt? How about Susquehanna? SAC? There is a reason why these guys come to work and are around each other. It's because the dividends are far too great.

Bob and Don Bright know this. Whether they care to admit it or not is another story. BTW, it doesn't cost that much money to setup an office. Most clearing firms in the world will bend over backwards to sublease their customers space. So the idea that it isn't worth the cost is total BS.
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Completely WRONG.

I am in my 40's and trade Remote. I average over 1k+ per day.
I have NO choice. I live on Lake Michigan 160 miles from Chicago.

When I lived in Chicago I still didn't commute. The firm I trade thru has mostly young guys in their 20's. Young guys get very Emotional when they trade, excited when UP and depressed when Down, F'k that chit.

I want Peace and Quiet when I trade. I like to trade without interruptions, people staring over my shoulder, hearing squawk boxes, etc...

I can drive my kids to school and pick them up if need be. NO traffic, no f'n snow, rain, filling gas tanks, parking, trains, etc..

You have to be f'n nuts to want to trade via an office. I've never understood it.

I have a Superior trading computer to any shop, 5 Meg cable, DSL backup, battery backup for hours, cell phone, land line, etc...

I take frequent breaks during the day to play basketball for 10 minutes, walk on the beach, or get the mail/local newspaper.

I forgot, nooky from the wife (just hit it for 5 minutes) during trading hours if I beg. :D

Why the hell would I spend hours a day commuting, dealing with office politics, getting lunch, etc... what a waste of life.
 
Quote from F-Trader:


Why the hell would I spend hours a day commuting, dealing with office politics, getting lunch, etc... what a waste of life.
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Because according to some on this thread, you can not big a big fish without tradign at an office.
 
Quote from F-Trader:

Completely WRONG.

I am in my 40's and trade Remote. I average over 1k+ per day.
I have NO choice. I live on Lake Michigan 160 miles from Chicago.

When I lived in Chicago I still didn't commute. The firm I trade thru has mostly young guys in their 20's. Young guys get very Emotional when they trade, excited when UP and depressed when Down, F'k that chit.

I want Peace and Quiet when I trade. I like to trade without interruptions, people staring over my shoulder, hearing squawk boxes, etc...

I can drive my kids to school and pick them up if need be. NO traffic, no f'n snow, rain, filling gas tanks, parking, trains, etc..

You have to be f'n nuts to want to trade via an office. I've never understood it.

I have a Superior trading computer to any shop, 5 Meg cable, DSL backup, battery backup for hours, cell phone, land line, etc...

I take frequent breaks during the day to play basketball for 10 minutes, walk on the beach, or get the mail/local newspaper.

I forgot, nooky from the wife (just hit it for 5 minutes) during trading hours if I beg. :D

Why the hell would I spend hours a day commuting, dealing with office politics, getting lunch, etc... what a waste of life.
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Agree 100%. But ... it all depends on the trader. I think younger guys have more of a desire and need (i.e. lesser experienced and more to learn) to be in an office. I think that as one gets older the desire for a quieter trading "room" becomes more prevalant. I hear you about the young guys getting emotional ... constant cussing and ranting when a trade went against them (when I was at an office). And that was a turn-off for me as losing is part of the process that they needed to learn. And the outbursts were also a bit disruptive at times. But, I later attributed such behavior to a bit of immaturity on the younger guys part. No single optimal trading environment for everyone ... depends on many factors. But I'd never go back to an office.
 
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