Hi Don, Apart from the Opening Orders strategy, are there any other strategies/systems that your firm teaches the newbie traders? If yes, could you briefly describe them? No need to go into the nuts and bolts if you don't want to; a general name/description will be most appreciated. TIA -kk70
Don Bright wrote: I wouldn't say I had a bad experience. I learned much from when I attended the (at the time) 5 day session until now. I didn't learn what I thought I would, but learning nonetheless. And, assuming you have five fingers on your hand, I must know each of the disenchanted. What are the odds of that?!
Enveloping. Put orders behind Bid/Ask for trade-through. Close the position for a few cent gain once filled. Pair Trading. 1. Wait for good spread and Put on 1st Layer (Long One Short One) 2a. If it moves it your favor, sell it for gain and go back to step 1. 2b. If it moves against you, put on 2nd layer. 3a. If it moves it your favor, sell it for gain and go back to step 2. 3b. If it moves against you, put on 3rd layer. 4a. If it moves it your favor, sell it for gain and go back to step 3. 4b. If it moves against you, put on 4th layer. 5a. If it moves it your favor, sell it for gain and go back to step 4. 5b. If it moves against you, you sell all 4 positions at a loss. Pairs 'tend' to trade in ranges so you should get a lot of gains and the chance of 5b is rare. I personally would never trade a strategy with lots of small gains with a small risk of a huge loss. That's about what's covered besides Opening Orders.
Don Bright is a much nicer person online than he is in person. He should take up teaching online classes instead. All he does during his paid live classroom training is yell at everybody while he is sweating bullets off his forehead because he just lost his ass playing the opening only orders. You can't ask him a question, because he is too short tempered from losing his money daytrading and he just yells at everybody. He doesn't teach - he has his back to you the whole time while he's watching his big screen plasma tv with his daytrading software set up, while he's daytrading and trying to scalp the market for pennies - and loses. I think Don Bright should start teaching online courses instead. He does a better job at getting his point across and communicating online, instead of in person. This is my observation of him. So what do you think Don Bright? Any plans in the future for online classes?
LOL to that post above! It seems that big brother Bob is the good trader and Don is the administrative guy who wishes he could trade. He certainly talks a good game but he's better suited to trolling the internet forums with his shill, Cash Money, and recruiting newbies. Let Bob do the teaching, Don! Stick to balancing the firm's checkbook.
I agree that's what's amazing. Cash money is sniffing around here looking for some victims to sign up at 1 cent a share.Whats a real slap in the face is they charge you those crazy rates and then want you to get a series 7.Bright can never be a price leader as they clear threw gs which probably charges them more to clear than many traders can get in rates. Bright keeps bringing up safety. who gives a darn if one loses there 5k deposit after 2 or 3 years if you saved 100k in commissions?
are you really that bitter? I'm going to go out on a limb here and point out some very possible realities. You went to the camp, so you obviously haven't turned the corner yet and I understand, you're bitter. Or, you're just another shill bashing online. Who takes a review of someone's character like this seriously? A lot of times I've wondered, "who asks/says half the ridiculously negative crap I've seen on ET". Well I found out the other day. This lady from ET had some questions about my very first firm. I just gave them my number and had them call. The kinds of questions I was asked but worse off, the kinds of assertions they made...You just wouldn't believe me if I explained the whole situation. But lets put it this way. One day a 40 something lady came into the office, wanting to trade. Manager speaks to her a few times. One day I see he's somewhat frustrated with her and I think, "hm, not very nice". WOW. I find myself asking, "Good lord I hope I wasn't that annoying/naive/filled with SO MANY stupid fucking questions". If that was part of my job description, nursing everyone's insecurities, I'd just quit managing, trade and become a psychologist in beverley hills on the side. Here, let me give a few of my all-time, most annoying, most ridiculous questions I've ever been asked in my short span daytrading: Question 1: "Do you use excel to trade?" --What do you mean "to trade". Why would I? You can do lots of things with it. If you're too cheap to buy a spreader, you can create your own. don't want e-signal but want to chart the spread in a par. well you could do that....but no. I'm computer retarded so no, i don't. What do you need it for? "I don't know, I just heard you could do it" (i'm temporarily stunned) Question 2: "Do you pair trade?" --Yes, but i have no idea what I'm doing. I've put a few on and I just try and bring the spread back in, one way or another. "You're program trading!" --I don't understand. What do you mean? "You're program trading! Thats where its at!" (i'm temporarily stunned) Its hard to even know what to say. I've had people tell me how unfair it is that xyz company doesn't pay a salary. In some cases, these very same people have no education. (i'm not knocking gunslingers that went balls out without college. Hell I took a break just to daytrade.) But you don't see me knocking on GHCO's door, asking for a draw, without a degree. Its hard to be sympathetic towards managers when they rake it in on commish. But to have to deal with all this utter bullshit on a daily basis; its disturbing.
So is Bob Bright the trader in the family and does he work with the Traders in the boot camp and in Bright Trading? is that why he is not in ET? because he is so busy trading? or is he in ET and I get confused between the two brothers? Is Bob the one with Bugsy Seagels Packard and is he the one that made 20 mil in his own personal trades last year? If this is correct, I will say make friends with the Bright's and swallow your pride if you are a profitable experienced trader! If you are a newbie..then use them for what they are good for...use their setups and their capital. Michael B.
Gotta love it... a guy with 5 posts on ET comes out slamming... welcome to the Mike Tyson / Don King school of forum posting.