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Don Bright
Bright Trading, LLC
Registered: Oct 2001
Posts: 11698 |
09-02-11 04:50 PM
Quote from Samsara:
No matter how successful you guys are, you know most of us dig you Brights for that "non-pretentious" quality. Regardless of anyone's take on the prop biz, we all know there's a humanism in how you represent the trader's good life, and a straightforward integrity in the way you do business.
It's good to see the man behind the "not an alias". It's a rarity I think a lot of us appreciate. Just throwing that out there.
Thanks a lot, you have no idea how good that makes feel, especially these days...thanks again...
Don 
__________________
Don Bright (not an alias)
Bright Trading, LLC
http://www.stocktrading.com
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IcyTrade
Registered: Jan 2008
Posts: 30 |
04-01-12 03:00 PM
Quote from EvOTrAdEr:
I think that a lot of you fail to realize the point of independent trading: not having to work for someone else. It comes down to personality. If you are too unwilling to risk a few thousand dollars for something you want to do, then you should be looking for a job and stop bitching about the small deposits. Nobody likes having capital at risk, but guess what? with the cheap ass commission rates nowadays, no firm will be able to survive
Prop Trading your own capital is not a job. it's an alternative to trading retail accounts. you don't need 25k in your account and the rates are cheaper. these are the reasons you should join a prop firm - for professional trading services.
If you are looking for a steady income without risking capital, don't trade. get a job. it's about time you kids realized that trading is not for everyone and if you don't have the means to trade independently, there is no alternative for you.
Take it from someone with a banking background - a job at Morgan Stanley or Goldman Sachs does not involve discretionary trading. It involves front-running customer orders and market-making to beat the small-time investor.
There is a fundamental you people don't understand: Market participation involves risk. If you want the rewards of being a trader (be your own boss, not answer to anyone, unlimited potential profits) you will need to demonstrate the ability to think on your feet and be responsible for your own performance. If you need security, trading is not for you period. find another job. this is getting ridiculous already with the "i need a salary to trade" posts.
I'm telling you the honest to god truth, corporations aren't out there to help you meet financial security. they are there to make profits for themselves and their share-holders. It doesn't matter if it's a prop firm or a big bank, in the end - you will have to make extreme sacrifices to succeed in such a competitive field.
Great Post
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IcyTrade
Registered: Jan 2008
Posts: 30 |
04-01-12 03:10 PM
Quote from 75th:
No argument outta me there. People these days are lazy and want everything handed to them on a silver platter. In some sense, our countries are getting dumber by the generation.
If you only knew how much effort and time and heartache it cost me to get to becoming a profitable trader on my own... it was a ridiculously grueling learning curve in the earlier stages, which caused me to make so many sacrifices. Saving money and working nights so that I could learn to trade EVERY SINGLE DAY... in a simulator... for free... for years... consistently. No sleep. No social life. No time. Losing money in my business because I couldn't function due to my obsession with learning to become a profitable trader. It was like a marathon of pain, perseverance and insanity, that just WOULD NOT END. Whatever anyone thinks that means, multiply it by 10000 and you might be close to understanding how much it takes to become a successful trader. My God... the ongoing anguish. It takes a special breed to find success as a trader... a certain combination of factors that most people do not individually and wholly possess. But i tell ya what... it was worth it... and it changed my life.
I have no sympathy for lazy people and I agree with your opinion. But for some of the future winners, economics are a current fact of life. For a few, it's not a matter of wanting something or not wanting it bad enough. But in agreement with your point, I will say that for most, it IS a matter of not wanting it bad enough and that's why most fail.
But even if you have the right chemistry... most newbies scrounge up 5K and hit the local prop shop. That 5K is all they have. They would last one month in NYC with 5K... that's all I'm saying. It's way easier said than done. Sometimes we forget (and maybe some of us don't know) what it's like to be genuinely limited on funds.
Another great post. I just can imagine the feeling of thinking "How awesome is that i persevered"! Probably 90+% percent of successful traders feel that way. The process is just needed to build the character needed in order to thrive as a trader. There are no easy ways. That for me is not discouraging, it was but not now. It even drives me further because the harder the battle the greater the victory.
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