Don Bright

Yeah, I don't know what's up with Don lately, but his attacks on other firms has gone way to far and it just seems to take away from his credibility, and in turn I think Don B is hurting Bright Trading in the process.

It is one thing to offer advice, but now he just seems to pump his firm at all costs, even taking a dump on other great firms, which is not fair, but it's only because Bright Trading is an ET sponsor, but it's going way to far.

I just don't think it is right.

 

very well said Steve.

Bright and his brother Don, are some very honest characters!

However, they're evidently not for everyone.

I ran across some characters out of New York, that boasted of their honesty, and were some of the worse persons ever! They still think they did the right thing, and now the SEC and NASD as well as the Justice Department are having ongoing criminal discussions with them. So, what Don warns us all of is and remains quite true.

I also, watched a number of traders hit the desk at another firm, and blow their $25,000 trying to make the much touted method of the firm's trading work, only to their churn, burn, grind and eventual dust off. They quickly cleaned that seat off and offered it to the next bloke coming through the door.

Simply put, do your due diligence. If you can't verify the voracity of the claims of the firm, prop shop, licensed LLC or otherwise, then see if you have to risk putting up funds and have a minimal withdrawal period before you can leave, then don't engage.

The business model should be something you can grasp, apply and get past your learning curve into profit territory, or simply don't get involved with that particular firm.

Due diligence, is so key, and if you can't get consistent answers, then your answer is to look at another firm. Try to do background checks on the principals of the firm. Get proper documents on the firm, and officers and research current legal litigation as well as SEC filings for and against them.

Consider also equity and index option trading which yields leverage sufficient to build your funds in a customer account into a sizeble sum. After achieving leverage and size, reconsider your needs for a prop shop or licensing. Reconsider your needs for ajoining to a firm and consider going it alone.

cheers

 

Just reading this thread from the sideline, and wondering why is there so much anger. when i read the posts on et I don't really follow the names of the posters, so i couldn't name some of these idiots who waste others valuable time. If you are not a fan of the Bright's prop structure, don't trade there. Are you guys representing another firm or what? Bright is very open about what they offer. A stable environment with a large house behind them (GS). If you guys want to trade futures there are plenty of places you can do that. Please stop wasting my and other's time with there stupid arguments. And yes I have traded at Bright, left to focus on other products and came back continue to do business with them now.

Gertsman

 

Don, what exactly do you mean there are changes at Echo. Are you saying there is something potential Echo applicants should be wary about ?

 

My reference was only to the fact of the acquisitions and also the inquiries, telling me of some changes...very similar to last year when we were getting so many inquiries from the ETG guys (who became very uncomfortable with their being taken over by Schony)...not saying anything definitive, just reflecting what is happening.

BTW, did this come from ET? Regardless of your trading firm preference or even political preference, this video from some of the guys at "CBS" (Columbia Business School, not the TV network, LOL) is great...what a voice this guy has.

Give it a full minute or two

http://www0.gsb.columbia.edu/students/organizations/follies/media/EveryBreath.wmv

Don

 

If all you have is 5K to put up at a prop firm, then there is a 99% chance you will fail from being under capitalized and over leveraged. I respect bright for making you put up at least 15k to trade with them. They understand the cost of trading and if they were just after commissions they would let you trade over leveraged with a meager 5k. There is a lot to be said about the relationship with your firm and peace of mind is worth a higher rate imho. The simple fact remains that even with 30 to 1 on 5k, you will not make it in this game trading equities. Do the math, what return do you need on that 150k leverage to consistently make 6 figures yearly ?

 

What if you're not looking to make six figures yearly? What if you just want to start out by trading part time and would be happy to just supplement your income by $25,000 a year?

 

That kind of trader would be better off at home.

 

do I get this right? you are upset at McDonalds because they don't sell Chinese food? because you think Chinese food is the in-thing and that everybody also carries Chinese food, that's why McDonals is stupid for not carrying Chinese food?