Don, I have already been to your one week boot camp. Would my initial deposit still be $5,000. Best Regards, Dave Scott
Only a year ago Don was preaching how giving a % away was bad. http://www.elitetrader.com/vb/showthread.php?s=&threadid=7037 Now offering a deal with % split. Weird.
Agreed, but Don simply talks a lot of shit about being fair to new traders and blah blah and how everyone can succeed. The deal is simply shady, although the firm isnt. It seems too much like a technique to run new cattle through and grab fees. There is no reason anyone should pay any fee to get a chance to sit next to good traders and try to learn as much as you can. $.01 commish? I hope Don plans on lowering that sometime throught the new trader's journey cause that is only going to churn them to death. Overall, seems shady.
I love this line by DON "If you plan on ONLY making 500 per day". When I see this type of a ridiculous statement by a person (Don Bright) who knows the real truth. {That truth being that most people who trade are failures.} Most cant make money ever and most cant make it year over year. Now if you ONLY plan on making 500 per day, as Don states so flippantly, and wait don't forget boys and girls you are also complete newbies as well but hey even a newbie after taking one of Don's MAGICAL BOOT CAMP/TRAINING COURSES can make 120,000k per year for the account that he or she is trading. (This is based on the number of trading days in the year * 500 per day). Give me a goddamn break. Newbies watch your butt this man is flat out lying to you. It takes years of hard work and dedication and tape reading skills to get to a level where you have seen every type of scenario at least once and learn how to react to it wisely in order to profit. However, I do applauded Don Bright because he is a business man concerned with the development and prosperity of his company, as well he should be. Remember folks, like Madison Ave., Don Bright is offering up to you false perceptions and hopes. However if you do decided to utilize the leverage being provided by a firm such as at Bright Trading please keep in mind that you will most likely have a low % chance of success until you have put your years in. The market is a bigger entity than even a person the size of Don and as such it (market) will have the last word. As they say though "You got to start somewhere". Good Luck!
The above posts, when combined, have the answer. We at BT will continue to grow as a Firm Only because of successful traders. We cannot "make" a good trader, but we sure can show them what is working, and how others are doing it...real time, real life, real money. I don't worry about "teaching the world" either...many will not have the discipline necessary to make continuing profits, and some will find that trading at this level is too difficult...and it all changes constantly, and traders have to put "heart and soul" into it to stay ahead. One class or bootcamp can certainly help, but it is the trader themselves that will stick it out for the long term. Heck, we have continuing (free) training, and only about 25% of our people take advantage of that....and they certainly are the better off for it. Don
Other Prop Firms maybe Offering betters deals to new Traders,but what Training are they offering.If the training BrightTrading offers is good then this is a great deal for a New Trader.A New Trader should be more interested in the level of training they will receive rather than getting the cheapiest deal in town.You get what you pay for in this Life.
If the training was that good then it would be free. IF Bright wanted to find the best potential traders that is.
Think of it this way. Many people go to Vegas, easily spend 5k and go through their money quickly. At the very least, your 5k will probably last longer with Bright and I would venture to say that your odds of coming home with some extra change in your pocket is significantly higher than that of playing in the casinos. I've said it before and I'll say it again, every person with a dollar and a dream these days views themselves as a serious trader with some major rights on Wall St. Bright is giving you a chance at the gold ring about as cheaply as can possibly be had, what the heck else could you want. I wonder how many messages I would get if I said that I was starting a firm offering 100% payout to the traders, .001c per share with no capital contribution from the trader. Trader will withdraw profits monthly. Any takers?
>I see a lot of envious people who probably blew their accounts >out and are pissed at the world and direct their negativity In the trading world this is call 'Victor Niederhoffer syndrom'. Anyway, yes Don is clearly a businessman and yes he seems to have a good product to sell. I do wonder how he screens applicants of if everyone who can pony up the $'s is in the game. Comments Don?