with a per ticket deal, it's not that bad. i pay $1.50 per trade, unlimited size at my firm. if i got 10 fills of 2,500 shares each, my round trip commissions would be $30. if i was paying .0125 per share, my commission would be $625 for the same 10 round trips. that's $12,000 a month in excess commissions right down Mr. Drain, that could be in my pocket instead. i can't fathom why OO players still use per share deals. i could be wrong, but i think Bright only charges .004 for their series 7 holders, so the commissions would only be $200. if they ever moved to a flat, per-ticket deal, and got those commissions down to $30, i'd move to them in a heartbeat.
i was checkin' some back logs for digiclasses and i have a link here for u interested in don's pair tradin' strategies...also some good info in specs way of handlin' orders and how to take advantage of big orders to get price improvement on the nyse...don and darren are explainin' some things out [mind u that this is an old log datin' back 2004] scroll towards da bottom and enjoy: www.elitetrader.com/ch/DigiChat/Dig...t/Transcripts/Elite_Trader_Chat/20040526.html
What the F--- are you talking about? Only a chump chumping along in chumpsville would pay .01 or more per share. Completely uncompetitive. You can get .004 at any prop firm in NYC if putting up your own cash (5k). Pretty simple: Bright Trading has no competition in LV.
You are paying $2000 for the course, most the students assumed the desk fee didn't start until AFTER the boot camp was over. Don said the $.0125 was to encourage the students to hurry up and pass the S7 since they have limited space for non S7. You are wrong. From the 2005 Price Sheet. After S7, $.01 per share <= 1000 and $.004 per share on shares > 1000 to a maximum of $25 plus Exchange and SEC charges. I was already profitable before attending. I think the course is geared more toward new traders. I was hoping to learn from other successful traders and maybe learn a few new strategies. I learned two new strategies (Open Orders and Enveloping). I do not use either currently.
i believe i said i'd move to them *IF* they reduced their commissions to a competitive per ticket rate, didn't i?
Hey, if I wanna make a cash donation in Vegas, I'd rather do it at the Bellagio or MGM Grand than Bright Trading. At least you can get comp drinks and the babes are hot!
hey doniz are u really chargin' those ridicolous commish or what....u deal sucks big time considerin' there are plenty of firms that offer same leverage if not more with better splits and 1/4 of u commish...care to comment[?]
I have always thought that the greatest concern regarding a firm that a trader should have is the return of their original stake and any profits from his firm. The problems with many of these other firms that give great commission structures that are frequently compared to Bright/Echo etc, is that you don't know if they are going to be around the next day, and worse, whether you will ever see your money again. I agree that these days, Bright seems to have highly uncompetitive commissions even by retail standards, let alone professional firms that I hear about almost daily on these boards. But you have to weigh the fact that Bright has been around for a very long time, and that AFAIK no one has ever not gotten their money back or any profits from Bright. Insurance of this sort is not free. That said, I still wonder why anyone complains? I have always felt that the way to do business is with your feet. If Bright is a "bad" firm, then don't go there, or if you are already there and find a better deal, then leave! Business is business, and when the business is bad, cut your losses short. nitro