Bob, gotta love that car...can we get a picture of it posted here? and if you made 20 mil...I wanna hang with you and pick your brain. Don, someday I will let you yell at me, that would be great if I had that chance!....and the only brown-nosing here is to get the best deal of all of the traders as a the senior trader that I am...and I audit my pay sheets with my own spreadsheets and I want every penny due to me...so do not make any mistakes in bookkeeping...HeHe
No trolling here, just making the record clear. I figure that people are responsible enough to decide for themselves given the facts. I just want to make sure the facts are clear. Regarding shilling, with the exception of posts of clarification (and smart aleck comments to guys such as yourself ) you'll see that most of my well over 1000 posts are either related to providing people with information that I'm familiar with or with requesting information that I may need for trading... just like most other posters on this site. Cash
So higher commissions and safety mean nothing? With such logic I suppose you think a Dodge Neon or Ford Focus (inexpensive cars that performed poor in crash tests) is a better buy than a Mercedes or Volvo since it costs less. Never mind that a nasty collision might cost you your life in a smaller, more poorly constructed vehicle. I mean after all, even though you lost your life (i.e. $5K deposit) you saved a lot of $$$ (i.e. commissions) by buying the cheaper car. I trade retail, not with the cheapest guy out there but with the ones I think offers the best overall package which includes a lot more than commissions. Don - I admire you for responding in a civil manner to come of the attackers. Whether they're failed traders or just unable to control emotions I guess for you dealing with such is just a part of your job.
he sweeps his profits and is assuming he won't be held liable for losses further then his deposit. If he has a lower rate, its worth it provided he won't be liable beyond his 5k and from a penny pinching priority (assuming no blatently harmful behavior--just get sued otherwise) I don't understand your car analogy. You crash, you die. He crashes, he's got 5 more lives. You might have a nicer ride with more perks, but a lot of guys (not everyone) who already know how to drive just need a car to get them to where they want. the piece of shit might break down, but he doesn't care. Think of a good mechanic that finds some piece of shit and turns it into something nice. Then there's your soccer mom that buys the nice mercedes. You both might crash. Safety in numbers is an illusion to someone buying cheap; all he has to do is think of random accidents/rogue trader, refco, ltcm, doesn't matter, just big money blowups. (i'm not saying one is better then the other. Its just that if you're already profitable, I think you might have a harder time feeling the need to "surround yourself with profitable traders" if you've got quite the ego. The only plus is to have others around you so when markets change, you might adapt because you are open to other shit, not on an island by yourself. but if you've got a huge ego from being profitable, you probably don't give a rats ass about this. Despite wearing earplugs during trading, I see value in other traders. For example, aftermarket the other day, guy goes, "hm, i wish we'd close the gap on the downside before a playable bottom on SPY". I've never read a single thing related to trading so I'm thinking, "hm...this guy has been trading forever...lets see if this shit pans out". I'd never really think that on my own. and its just 1 sentence, thought outloud after the market. so even for a newb that doesn't want to even hear what others have to say during trading, I'm very thankful to hear what other people think afterhours. I would probably find value in a place like Bright, as opposed to a cheaper alternative that was only remote.
You're serious? Don and Bob condone martingale? Wow, too bad this super-sekrit strategy is out... think of the edge-dilution!
Sure, we go into the following: 1.Psychology 2. Fundamental research (what matters, what doesn't and how to obtain the info. 2a. Techinicals of course. 3. The aret of tape reading, including prem/disc NYOB, tradethroughs, "air pockets", iceburg orders, redi-reserve, and qutie a bit more. 4. Range trading 5. Momentum (when you can trade it, when to avoit it). 6. Scalping. 7. Trading on the same side as the Specialist or MM. 8. Providing liquidity, seeking inefficiencies. 9. Players in our game of trading, who to avoid, who not to be "afraid of". 10. And, we cover M&A and Pairs Trading these days as well. There's a lot more, but one of the most important things we teach is how the Trading Business actually works...you would be surprised how many "traders" have no clue what happens and who they're trading with/against and why. Don
It comes down to this... My mortgage company literally begs me with mail and phone calls to loan me money at a fixed 7% ....just sign here and pick up your check... This is what the question is... How much buying power does 5k get at Bright? After all of the fees ...I mean all of them what does the trader pay for the buying power he can exploit... I know, i know, if he borrows the money for leverage all of it is on the chopping block...but after all of the fees...maybe its the same ...no? 5k at risk... or say 40k at risk? Michael B.