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Zero Downside second account
- Thread starter Don Bright
- Start date
Quote from swiftmike99:
It seems to be too good to be true. Bright is a businessman not an idiot. Although I thought about this knowing that bunch of brights will come on and defend him.
What don is trying to do is rake up more fees for his business, more people doing more traders, more money for him. In the process he will dillute the strategy for his old traders doing pairs, I am sure they are pissed off about this. So the old traders go from making 10k to 5k but still making money so they wont leave because there is no good alternative except IB. but thats not even close. BUt bright dosn't care about how his traders do because he makes no money on them. He only makes money on them making fees. Many Trades will keep trading because they are addicted to the gamblig aspect of it.
Based on that I think this is a great deal for new and old traders. To steal what bright traders have been reseraching for years. All the other companies do that too. Swift will steal stuff from one branch and give it to other branches. Same with Title and WTS. I am sure if anyone went to trader to bright with some new strategy they never thought about it within 6 months it would be part of their traing course. within 1 year, it would have automated joint venture program. I think this actually happened before, there was a thread on ET about that.
Ahahah this is probably the funniest thing I ever read, I may reply at some point after I stop laughing.
Quote from swiftmike99:
It seems to be too good to be true. Bright is a businessman not an idiot. Although I thought about this knowing that bunch of brights will come on and defend him.
What don is trying to do is rake up more fees for his business, more people doing more traders, more money for him. In the process he will dillute the strategy for his old traders doing pairs, I am sure they are pissed off about this. So the old traders go from making 10k to 5k but still making money so they wont leave because there is no good alternative except IB. but thats not even close. BUt bright dosn't care about how his traders do because he makes no money on them. He only makes money on them making fees. Many Trades will keep trading because they are addicted to the gamblig aspect of it.
Based on that I think this is a great deal for new and old traders. To steal what bright traders have been reseraching for years. All the other companies do that too. Swift will steal stuff from one branch and give it to other branches. Same with Title and WTS. I am sure if anyone went to trader to bright with some new strategy they never thought about it within 6 months it would be part of their traing course. within 1 year, it would have automated joint venture program. I think this actually happened before, there was a thread on ET about that.
Okay, let's try to have a real discussion without ridiculous comments.
* This whole program is completely optional* It has nothing to do with your regular trading, whether you were profitable or not, what your account size is, rate for shares, ect. ect. The only additional cost of running the JVC is an extra $200 if you want additional logins - which I do to completely separate my JVC account from my core account.
Everyone is trading their own spreads, their own styles...there are hundreds of spreads to choose from and each person brings their trading personality (style, history, skill, ect.). There's also a combination of different strategies you can do, no trader will have the same peformance.
In fact, i'm currently engaged in a discussion with two traders regarding JVC trading...one is a former mentor, the other guy actually traded Bob Bright's corporate account. So the collobartion is a big component of this, here's an example of experienced traders going over some pointers with each other to benefit all us all.
The rules/guidelines set in place are blanket parameters to protect Bright and that trader's JVC. That's it. After that it's up too you, and when Don said there's no downside risk, it isn't actually true... here's the rub , this requires a lot of work and effort on your part to be successful. That's the catch, and that's been the hurdle for some people, not wanting to do the work or simply don't have the time.
Anyways I think you see my point, although I think no matter what anyone says your opinion won't change.
Quote from Don Bright:
Hi Tim, how are things? Good to hear from you.
Don
Hi Don,
I am well , thank you
Sorry to muddy up your thread.
As you know I have had the opportunity to work with some of the most innovative and successful people on Wall Street.
The Bright family is right there at the top.
I have no doubt that you are implementing this new program for all the right reasons.
Like Bob always said, " Those that work the hardest always seem to be the luckiest " !
Best Regards
Quote from GGSAE:
Okay, let's try to have a real discussion without ridiculous comments.
i] here's the rub [/i], this requires a lot of work and effort on your part to be successful. That's the catch, and that's been the hurdle for some people, not wanting to do the work or simply don't have the time.
You make my point about "zero capital" firms as well. The "downside risk" is the time and effort put in by the traders. Then, when they make money, they leave a bunch of it with the Firm, which means they actually do have money up and give away part of their profits anyway. OK for some, not for others obviously.
All the best,
Don (also: Thanks Tim, stay in touch)
Hope you guys have low latency and your servers at the closest availble storage cause the HFT"s have the pairs game in the bag...
Quote from windycity69:
Hope you guys have low latency and your servers at the closest availble storage cause the HFT"s have the pairs game in the bag...
I would agree about "scalping" but since 90% of what we do with our programs is "homework" based entries and exits we don't park limit orders, thus aren't really affected by the HFT guys. In addiiton, we start with 100 shares x 140 (for example), and the HFT guys don't bother with 100 share lots for the most part.We're taking 20-80 cents or more most of the time.
Still new, but results are excellent.
Don
I am a Bright Trader that has joined the JVC - I trade remotely. There are no loopholes I've run into, no tricks, it is as Don has explained.
For me, a great experience and now turning profitable. there are red flags (a few rules) designed to help you teach yourself. There isn't another nor risk program to learn a strategy that I've run into. The online classes and yahoo messaging to mentors is effective, I could never have learned pair trading without this.
For me, a great experience and now turning profitable. there are red flags (a few rules) designed to help you teach yourself. There isn't another nor risk program to learn a strategy that I've run into. The online classes and yahoo messaging to mentors is effective, I could never have learned pair trading without this.