Ive narrowed it down to these two. I live in nyc and want to work in an office. I like the training options at bright(informative and worthwhile I dont know). Response will be appreciated from anyone with experience in either firm. Willing to fly to vegas for Brights 3 day class(im always willing to fly to vegas), is it worth it? Does any firm review your trades or anything like that or is it all up to you after you take initial training course. Thanks in advance
LOL I'm in the same boat as you, I can't decide whether Echo or Bright.... what is Bright's remote trading split? 100%? and what is Bright's in office split? 95%?
You can never go wrong going with Bright... Echo on the other hand has been getting some reviews you might want to take a peek at.
It's all skills, bad traders always blame the prop firms...im up 150% for the past 3 months just trading etfs on my 401K charles schwabb...only thing I want a trading firm for is margin and leverage...NOT a fan of the lower split non-sense thou, I would like 100% for remote or 95% for in office use
I don't blame anyone. Both firms were great. Traded in an office with Bright and remote with Echo. Made no money at Bright. Manager of my office did not believe in their opening only strategy. Too much risk. Flew by the seat of my pants basically and floundered. Went back to retail brokerage. A few years later, got the bug again and joined Echo as a remote trader. Had some mentoring and actually learned to scalp. Used conversions to short on down ticks (up tick rule was still around) and basically read the tape. I could identify when to trade, but never learned how to do it with size. Mostly 1000 shares at a time. Profitable, but not enough to make a living. I had to give it up because I have a family to support. So I'm in the wonderful world of retail brokerage again as a financial advisor. Mr and Mrs John Q Public just love us right now. LOL
How much of a deposit are you required to put up for Bright or Echo as a remote trader to get started with them? TIA
25k at Bright and 10k at Echo. I don't remember how much leverage I had at Bright, but it was 30/1 at Echo.