What a rumor this has been, folks! __________________ Please, I'm not a daytrader, I'm an "Intraday Liquidity Provider" 1-888-TRADEUP
Just to know his wallet is big enough to whether bad times, overnight leverage, SLK holding, I think what he charges is good or fair, merril isnt that much better, or any of them for that matter. If you could only trade more products/markets there, that would be good. I could care less if the guy makes 50mm or 500mm, if his traders get paid on time, and he runs a legit biz, God bless him. Try throwing up 25k with IB, I dont think you would get 1mm overnight BP. Look if you trade intraday 1-3 pos at a time, the firm is probably not for you. If you do relative value plays and merger arb or whatever then added overnight BP is very useful. I dont know don and I have never traded for him. I ve read about his brother in trader monthly though. Sounds like a gambler that can take big blows, that providian story is just something else. dont really like that strategy even though he made millions.
para.. i agree with you, its a option for the pro trader, their a well-established, reputable firm, that offer the tools most traders can use depending on your style, their comm is higher for sure, but they offer what few do in this industry with flex leverage to trade different strategies, which is a plus.. as long as your money is safe & they pay you with no problems, peace of mind goes a long way in my book, we may not agree with don's opinions on what he feels is best, we all have our opinions, they been doing this for many years, their model works for many, they have a good reputation & any deal that a trader agrees to in joining a firm is business. their going to be around for years to come regardless of the higher comm, their are always traders willing to pay a premium to potentially earn more $ using high leverage. thats why brights model never changed , they get their fees, comm. its their their edge, imo.. not a bright trader, but feel they offer a good option for traders.. besides they have 10 mil of their own $ up to protect traders, as stated many times.
LOL, my server in Santa Rosa, CA. went down before the opening, and I switched our internal server on for our trader's information.....no, all is good here, LOL. And, no one popped on risk radar today, LOL. Don
You should switch to 3rd party web hosting...its so cheap these days I can't imagine that its a better deal to run your own server unless you have a specific requirement that needs it.
hey don, hopefully you still have 9 million left to protect the firm.. , if you run into trouble, then its over for all of us in this business.. with your risk management i think everyone is ok.
I do have 3rd party hosting for stocktrading.com (since 1995). They are having some hardware concerns, and are working on it. I just keep the local server for back up and internal emails. And, again, "all is good" risk wise. LOL. VIX back over 22.00 again, nice 2 week period for my boot campers who have been taught that we "prefer predictability over volatility" - nice timing in the "slow" Summer season, eh? Don
Thanks, Don for clarifying the server problem. Until you responded, this thread was getting some interesting responses. The reason I asked the simple question in the first place is that I was doing my "due diligence" on your site and saw the Trader Alert. Regards, Prez
So why does bright not allow traders to trade stocks over $100. If you are gonna scalp, than you need to trade higher priced stocks. Going after nickels and dimes and playing between the bid and ask is silly.
We simply ask for traders to be permissioned, primarily to protect traders from themselves (trading GOOG for example). We give most people enough room to trade most stocks. Our feeling is that we get a lot of slippage in the higher priced stocks, that's all. Don BTW, back in business, LOL. www.stocktrading.com