Based on Don's posts in his OO Journal, I calculated that he has made approx. $27k YTD-Gross Profit and the typical trader would have netted only $14.4k. Please see attached spreadsheet for all calculations. Anybody doing opening orders have better results? The opening order spreadsheet that was attached has been removed by the administrator because its accuracy has been disputed. For future reference, if you are posting the results of someone else's trades, please consult that person first to ensure that the results, and the data those results are based upon, is accurate before posting it on a public forum
I will find out who is posting up this erroneous information and have them contacted. This bogus posting is akin to publishing my bank account. If you have the guts to contact me before the police get involved, then I may consider dropping legal actions. But now to the ironic part of this?..you have actually committed a crime that helps me out?.you get all the downside, I get the upside.But, I'm not really upset....and when I explain their errors, then it will even make the strategy look better. First off, there is only one month that is even close to having the actual numbers. Secondly, our traders don't pay anywhere near1 cent per share (all shares in excess of 1000 are .4 cents, which is why we do 2000 shares). The seat fee at Bright is only $400 or $200 (remote) not $600 as described....and the number of shares traded is greatly exaggerated, and the number of fills is not even close. But, even after all this is said and done, I think I am in the top 5% of all traders who trade for a few minutes in the morning....and all I do is try to share something that works. I don't see anyone (anyone!) else doing the same thing here on the board. Heck, netting $30,000 to $60,000 a year a few minutes work is not too bad. I think for legal purposes (looking like I planted this for promotional reasons) I will have to take it down. But, whoever did all this work is obviously unaware of what a fine job they did promoting BT and the strategy. Don
No, you are not really upset Don. You routinely threaten legal action to situations you are not upset about.
Sorry Don, But your numbers pale in comparison to Mr. Market...he has 27 strait trades of15% or better and Im sure he's made over 50k this year....and he did all this while running a YAHOO Groups board!!!!...you are tiny compared to him!! On a side note, I saw this yesterday but did not see the spread sheet....i actually thought the guy was praising your performance compared to others???? what am i missing and why are you so pissed? You post your results for all to see....did he not use these??
My original post in response to the posting was "these numbers yield an equivalent profit rate of about 400 per hour." this was assuming 20 minutes work per day. Even doubling the amount of time still yields a very good return on time. If you have an automated system that brings up your open order candidates and presents them for review you could easily get this down to about 20 - 30 minutes prep time per day. If your numbers were better than those originally posted - in error - all the better. Add these open strategies into a bundle of other trading strategies: I dont see a problem ......
When I first started doing opening orders I would try for 0.10 to 0.20 profit per stock. However, it seemed like I was only breaking even to making a little money. So since the middle of May I have been trying to hold the winners longer (sometimes for a few hours if the trade is going in the direction of the market) and it seems to be paying off, although holding an opening that long probably turns it into some different strategy-but the object is to keep winners bigger than losers and this is the only way I can achieve that goal.
Since we have no way of proving anything about "Mr.Market" or anyone else, for that matter...and that all journals are voluntary...it makes no sense for me to post mine or my brother's entire trading revenue. That would fall under the realm of "advertising." I simply post up a quick strategy that our people employ, and they like seeing the daily results. It's too bad that the "few" ruin it for the "many"... Don
Mr. Bright......You know i like and respect you....but right now you are sounding a bit like a sap.....I frequent your journal to check out the different plays...In fact it's one of the only threads where I won't really post because i like and respect it and want to see it that way....But right now you are acting like a hurt little school boy...let it go and continue your thread...why not just put stocks and your entry and exit? this way nobody knows if you traded 100 or a 1000 shares? as far as advertising your wears....isn't that your privilege as a paid sponsor??? I think you are making more of an issue then any of the members did and quite frankly, if you didn't comment on the matter, nobody would have known.....ok, i promise this is the last time i will make a post this long without bashing somebody or cracking a joke
Ya, ya, ya, cry victim. Typical Don Bright MO. "Ruin it for the many" yada, yada, yada. Your concern for the "many" and your fake self pity is a riot. Everything you do is an "advertisement for Bright" "Mr. Not An Alias" and your journal is all part and parcel of the "voluntary" marketing efforts of Bright Trading.