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logikos
Registered: Oct 2002
Posts: 320 |
09-17-12 04:27 AM
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....
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buzzie77
Registered: Aug 2012
Posts: 65 |
09-17-12 05:07 AM
Which Prop Firms provide the best mentorships and training?
This answer is simple!
The ones that provide real training are the ones you don't see advertising! Think about it.
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Maverick74
Registered: Mar 2002
Posts: 17314 |
09-17-12 04:09 PM
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....
I hear you. I've known Don for 10 years and he can be, shall we say "insensitive" at times. Don, like many people his age, are VERY judgmental in character. He also sees the world through the lens of his business. BTW, before Don's brother got him into trading, he sold jet ski's in Nevada. LOL. Also not a real job. 
As far as the lack of trading, he runs a business and as much as he or anyone else will tell you that you are a part of the Bright family, at the end of the day, it's about generating commissions. To be fair, my old firm got on guys that were sitting on their accounts and not trading. It's a valid complaint on his part. Most if not all prop firms will say something. A lot of guys just don't want to lose their licenses so they let their accounts sit forever.
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Rocco11
Registered: Jun 2011
Posts: 17 |
09-17-12 05:03 PM
Best prop firms that provide training are any that do not charge for it. I just joined a firm that is T3 affiliated, they didn't charge for education or training, gave me great rates and the whole trading group as whole works with each other. From what I see, they recommend the pairs program to new traders to get them trading without much risk to their account and move them to prop when they think they are ready. When I asked about education charge, they said 99% is BS and firms are just trying to take traders money and that money would be better served funding their account. I personally believe the longer you are in front of a screen, the better you will be, but I am sure people will disagree and say you need to pay a mentor. That is what is great about America, you have choices. Good luck.
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logikos
Registered: Oct 2002
Posts: 320 |
09-17-12 06:10 PM
Quote from Maverick74:
To be fair, my old firm got on guys that were sitting on their accounts and not trading. It's a valid complaint on his part. Most if not all prop firms will say something. A lot of guys just don't want to lose their licenses so they let their accounts sit forever.
He said he couldn't park my license forever... I understand this. I was short on time and did what I had to do, and he did what he had felt he had to do. Even still, parting ways could have been amicable instead of the blatant display of disrespect.
Outside of their poor training, they were not so bad to trade with. I am once more shopping for a prop firm... I got the time this time around I would not consider them now.
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Rocco11
Registered: Jun 2011
Posts: 17 |
09-17-12 06:13 PM
Had the same situation from one of our traders who did mortgages. He made a 100 share trade every morning. Just got in and out and let his licenses be held. He didn't lose money and the firm didn't make any, but allowed him to get through busy season and he was able to regain trading. So many solutions to these issues and they are easily remedied imo
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