Don, are you saying you don't pass this fee on to your traders? I mean for real orders on the specialist's book, not held in reserve or on a server.
Dan. Despite your sarcasm I'll answer your thorny question....with a question: If you were making a lot of money on a platform that is relatively exclusive, would you want to advertise that platform to the world? If so, then you're an idiot. If not, then you can understand why I have nothing to gain by promoting the OMS I use. What I will do, however, is share my knowledge of other platforms with people on the board. You have a problem with it? Go to Silicon Investor.
I've seen it. This is what I saw: The windows are stuck inside a parent window and their position is restricted to three horizontal rows. Configurability is very poor with the exception of hotkeys (it's offers decent hotkey functionality). Charts are pathetic. Level II windows are devoid of visual cues like custom colored row backgrounds. Level II "size" fonts are tiny and difficult to see. Shifting market makers make the Level II window hard to follow due to the lack of background differentiation. Mouse support is minimal. Level II windows are limitted in number, etc, etc, etc..... Some people may not mind these drawbacks. The majority of people would.
That's the problem Don. Bright is a Titanic in a market where you gotta be as maneuverable as a jet boat. Your reluctance to switch platforms is at least in part related to the difficulty you'd face in migrating all of those traders to something else...not to mention that it would piss off SLK....and you don't want to do that do you?
sorry, late to the post.... Bright environment is great. Given that only 10% on average, succeed in the industry as a whole, then these offices must be filled with a goodly percent of that 10%. It takes a while to get used to their environ, however, when you set your paces to their tune, and concentrate on what's being taught/learned, then environment plays secondary or even doesn't even come into the picture. I've found that concentration on content is worth all the success in the world, instead of worrying about burled walnut paneled offices with the traditional brokerage feel. hey, bank your bucks and decorate your own office. Greant environ!
What is this, 1996. I had HOME internet for RECREATIONAL use in 1995. This is business, Don, its scary that since it is essentially FREE for everyone to use the internet once you have the connection, only MOST of the traders have it that want it. Dude, Don, I haven't blasted you yet, and I'm been reading your posts a long time, but that attitude toward not catering to your traders needs agasts me. MUChris
if you are a slow learner or extreme novice, then Bright has something to offer to you...(for the first 6 months maybe) Otherwise, you will notice that most of the highly profitable traders in Bright's offices have brought in their own computers and subscribe to their own charting/analysis software and/or have programmed, custom software to interface to REDI. Plus, the trading systems/approaches they use are entirely unique from Bright's teachings. Yes, the equipment is substandard, computers are 2-3 yrs old, there is no technical support(other than traders with a technical background that are willing to lend a free hand), REDIplus is a dinosaur, commissions are average at best, desk fees ($600/mo.) are ridiculous, charting is shared, etc. You will note that many of the positive Bright posts are from Bright mgrs, who are looking to gather more suckers for Bright. Existing traders from Bright are mostly a very "secretive" bunch. They get no benefit from helping you and don't want to be bothered. Any information you acquire will be generalistic at best. The "paid" seminars and training are only worth it if you know nothing and have no connections. Enough said.
You've got some points here! Sorry, wish I were a Bright manager. Every where that I've been, the successful traders are secretive, even me. I certainly wouldn't let on to my angle, hell, I'm fishing in that spot, and it ain't big enough for me and you(s) guys, so get your own milking cow! Regarding novices being introduced to the business, just stop and think that we were all novices to this exclusive game that only allowed true Wall Street insiders, nepotistic family relations and friends and the few former workers with a money pot large enough to get into the game. Considering that 42 offices with over 700 traders in parts all over the US, certainly means that its no longer a true New Yorker "insiders" game! Experienced traders will notice the training as "introductory". But when being honest, one has to realize that they never saw the game exposed like they do, else all that information would have been know to you personally. Perhaps the methods were not of use to you or other experienced traders, even myself, however, it was worth knowing what the other guy knew/knows and that one could make it in this business whether using your own method or their method. Simply said, when the high school student realized that since he couldn't get a scholarship but could get reimbursed from his employer, what did he learn? / realize? That's there's more than one way to get a sponsor to pay for him to go to college, and "going to college", not necessarily "how he went to college" was the objective all along. Cheers to the Bright's, and full steam ahead!
now it occurs to me, that should the Brights' want to compensate me for my unbiased commentary, then I'll check with my compliance department...
Sorry, I had a little surgery on Monday, so I took Tuesday off. Thanks for the additional "defense"...and the fact that we replace "chips" rather than computers, thus keeping our expenses down, should be a good thing....and yes, since we "facilitate" good traders and their business, if they want to add fancy stuff to their "office" then they do. The focus for us and our traders is the bottom line, education, continuing education, and simply helping with good strategies. We "practice what we preach"...we're open and honest about our numbers, and constantly striving to stay ahead of the game. We constantly look at faster connectivity (in process now with Savvis), and our record speaks for itself (although it seems that I have to repeat this every so often). Anyway, let's get back to trading, and I'm here to answer questions from those who would like some help. Don