Bright Meeting and Elite...

Discussion in 'Prop Firms' started by Don Bright, Mar 2, 2002.

  1. Just thought I would give a quick summary of our last two weekends, the West Coast and East Coast manager's meetings. Las Vegas for the prior, Orlando for the latter.

    I was pleasantly surprised that many managers have been "lurking" on the board, and have had quite a bit of interest from prospective traders who frequent ET. They seem to think it is more of a result from the threads than the ads and stuff....but I am glad to see that the wide range of elite readers has filtered into many offices.

    We rolled out our "Bright-at-Home" remote trading platform, to the chagrin of some managers who were fearful of losing traders to the remote arena. We quickly pointed out that, with 40 locations, traders don't have far to go to come into the office, and that each manager can certainly provide "value added" to the traders, new and old.

    We discussed the competition to some extent, and we (corporate) were able to counter all the perceived concerns about pricing, connectivity, stability, etc., and with the insight derived from our many visits with other firms (and their "owners") over the last few weeks, we feel very comfortable with our continued growth.

    When the manager of even a "smaller, boutique" office saw again the much bigger group (even only half of the total) of office managers, they seemed to feel much better about any "threat" from others.

    We emphasized our desire and ability to "grow the industry" and restated our policy of NOT recruiting traders from other firms (of course if they come to us first, they are welcome). We don't want to stoop to the 'nickel and dime' tactics employed by a couple of firms who seem to lack the desire to add to the industry, but rather expect our traders to leave (just to keep the other firm in business for a while). This point was very well received!

    Finally we spoke about how we are maintaining a high level of success within our ranks, and how each manager can contribute to this ongoing success via strategic planning and training.

    Oh well, just wanted to thank those on Elite for their contributions to Bright Trading....and we will continue to do our best to help the industry we all love. Onward and upward!

    (Note to competitors and the "anti Bright" contingent: this thread is simply an informational piece, and I am confident that the majority of other firms don't fit into the negative category described above...as, once again, the "loud" minority seem to cause the anger at times. And I would love to hear what others in the industry are doing to help with overall growth, etc.)
     
  2. Don,

    Does Bright have any policy about a Trader who desires to trade
    at a Bright Office one week and then trade remotely at home
    on other weeks. A Trader who lives far away from an office
    location may want to do this.

    This will allow a Trader to benefit from some of the training and
    development that being physically present in an office would
    offer while balancing this out with family life, etc.

    There are probably a few traders that don't live near a city
    with a Bright Office that would consider this type of situation.

    Thanks,

    - Greg
     
  3. I never thought I would be saying this, but the Bright at Home platform is actually very good value...

    I am in no way associated with Bright Trading... indeed, many old-timers on this board will recall my many battles with Don on Elitetrader... but I will give credit where credit is due, and on value for money, Bright's system looks very good.
     
  4. jstanton

    jstanton

    Hi Don,

    On Sat. 2/19/02 I called your radio show with a question, and you said that all callers would get a free 1 year subscription to Stock and Commodities Magazine, I was hung up on and no one during the week called about the subscription.....I called you last Saturday with another question ( I was the last caller) and again you said a free subscription and again hung up on and no call back during the week.....I called again today (talked to Greg and Jay....1st. caller) and again hung up on for the subscription......I then called a friend in Arizona and he was hung up on for the subscription too...now normally I would let once or twice go by as a honest mistake but 4 times? My friend says you just mention the free subscription to sucker people to call your show, but I think maybe there is just a mixup??? You might think this is a small thing but as a business owner myself I judge the actions of companies very seriously..... if a company doesn't follow through with their promises then I would not deal with the company .... BTW I was considering taking your classes and joining your firm......so is he right or am I right????? TIA
     
  5. We have dozens of traders who "mix and match" their trading days with "at home" and "in office" trading. We think that there will probably be much more of that going on with traders who are reasonably close to an existing office.
     
  6. We have had some "technical problems" with the radio station and staff (we moved the "home" radio booth back to Las Vegas from Phoenix when we added the satellite uplink so we could go to more markets, combined with an ISDN line problem). This is no excuse, and we will make good on all the subscriptions. Please do me a favor and send me a personal email with your subscription information, and that of anyone else who is entitled, and I will process immediately. Send to "don@stocktrading.com" - and wait about 30-45 days for the first issue (you will get a full year from the first edition).

    I really apologize for the hassle....hopefully all is working correctly now. Thank you for listening....we really enjoy doing the show, and are grateful to all the listeners!

    Candle...thanks a lot, we are really excited about adding the (250) new remotes this year. Hopefully we will have even more allowed next year. We are keeping track of the success of the program and will hopefully be authorized to expand the number of traders!
     
  7. Don, you wrote:

    "...we are really excited about adding the (250) new remotes this year. Hopefully we will have even more allowed next year. We are keeping track of the success of the program and will hopefully be authorized to expand the number of traders! "
    ____________

    Don,

    I get the impression from your post above that you've reached the limit to the number of remote traders you want to add this year. Is this correct?

    Best regards,

    Jim B.
     
  8. No, actually we have around 60 so far (not bad, we just formally announced the program at the Expo last month). And we have quite a number in the "pipeline." There will be no problem getting the 250, the only concern that I have is making sure they do well (real well), so that we can "prove the theory" that remotes can do just fine from their home or office. If they do well, then we can add remote capacity and expand much more next year.
     
  9. Don,

    If an individual took and passed the Series 7 exam in
    1986 and then worked in a brokerage firm for a
    very short period of time.......

    Would they have to re-take and pass the Series 7 again
    in order to join a Prop firm today....

    Note that the person has been totally out of "financial
    industry" between 1986 and today...

    Thanks,


    - Greg
     
  10. Don:

    Can you please go into detail what software one will get if one chooses the remote package? What are the monthly costs? Is First Alert included in this package?


    Shortee
     
    #10     Mar 4, 2002