Don's openings and more for 2005

I don't know Don, and I do not trade equities. I trade futures. I don't like the trend I am seeing, as people make assertions about the profitability of strategies without having all the data.

I know several professionals who use OO strategies. None work for Don. Two of them are in my own office. They are profitable.

In a previous life I was trained as a mechanical engineer. Among other things, we learned to approach our work with a professional attitude, with courtesy, and with discipline. Most accredited professionals have similar background and conduct themselves in that way.

I notice that my own patience is often strained because of the stunning and enduring stupidity that I read in the posts of retail traders and wannabees. When at the end of it all they justify their lack of manners saying they were acting on inaccurate or incomplete information, well frankly, I start to fantasize about beating them over the head with a sand wedge.

I think it would be nice if folks would remember their manners. I know I have a ways to go in this respect myself. On the other hand, if you see me on the golf course (with a club in my hand), there are a few of you who should be careful not to identify yourselves.

Thank You,
Lefty

 

gr8trader, So far you have said that Bright Trading is broke and taking huge losses day in and day out, that there is nothing of value on this thread, implied the Brights are running a fraudulent business, and said that Don Bright is an unprofitable trader. Wouldn't someone else come forward and confrim this by now, or could you produce any documents to prove any of your claims? If I recall the Brights offer to let anyone look through their books and encourage people to do so. I possibly have missed it, but I haven't seen too many complaints about them or what is taught in their programs. Surely there would be a steady parade of people slamming them if it were anywhere as bad as you say. People come out of the woodwork for everything else on Elite! Do you even trade, or just lurk on message boards all day? Constructive criticism is one thing, but undocumented accusations is, well, a crime I think.

 

For an engineer you don't seem to be a detail man. I have never said that opening orders don't work. I only said that given what Don is currently teaching his bootcampers, given profit targets, and stop loss, and the generous win % assumption, and other costs. There is no way a trader can make money. It's a simple equation.

There is a big difference between asking tough questions, and being rude. I hope you can see the difference. I am simply quoting the facts I have received from a number of different sources. I for one believe that any one who charges that much money for training should be walking the walk. Making 25k per year is not walking that walk IMO.

What you fail to realize, is that there are many on here who have been burned by Don's bootcamp, and have let me know that had I started posting earlier perhaps they would have saved some money. My only hope is that people will ask tough questions and do the research, before investing any money in this training.

 

First, your "simple" equation was incorrect. Yet you offer no apology.

Second, I mention that in my office there are traders using an OO strategy, and they are profitable.

Third, your comments seem to me to be mean spirited and impolite.

Skilled people, professionals and those who have learned to express themselves with grace are always received well, even when the information they transmit is unpleasant. You on the other hand show no social grace and no sense of propriety. For that reason, I object to your comments.

I don't expect you to change a thing. I believe this is who you are.

Thank you,
Lefty

 

I have never said they are running a fraudulant business. I am merely reporting what my sources tell me. They are taking massive losses in a large GM position. My sources also indicate that there star group in canada is 500k underwater. I have heard stories of former boot campers who feel they wasted both there time and money and wished someone had asked the tough questions before. I have yet to hear a comment on any of these issues.

You fail to hear both sides of the story hear on ET because detractors often get banned. I have not insulted anyone, called anyone names, I simply have asked some tough questions. And called into question several claims made by Don. Why don't you look at the facts for yourself and make your own decision.

 

i dont know if they are underwater on GM but if they are it wouldnt be the first time bob took a large position in a stock and had to average down and ended up with large profits. i have heard stories of him holding millions of shares of some stocks through drawdowns.

 

The expectation following what don teaches is to lose .01 per share. Whether it's .03 or .015 doesnt' matter. It is still a losing proposition and I won't apologize for that. ( I did make a correction in a following, similar to what most newspapers do today)

I have not said that openings can't be done profitably, only that following Don's game plan it is a losing proposition.

Don has made some claims that are inconsistent with what my sources tell me and I feel that this needs to be pointed out.

Asking tough questions is not impolite, it is asking tough questions. I have received PM's from traders who wish they would have asked these same questions before wasting there money on the boot camp training. There are many who feel this way....I am just the voice.

 

Making inflamatory statements under the guise of "asking tough questions" is acceptable in my view if you are right, and if you have the facts straight.

You made your assertions based initially on incorrect data. Then you justify your lack of manners saying that "newspapers" make the same disclaimers. This may be acceptable in a courtroom, but is unacceptable in society.

You simply don't know how to present yourself professionally, and I have identified you as a wannabee. Like many others on this site you are irresponsible and uninformed. Also like many others you insist that you are justified.

Finally, other posters have pointed out that Mr. Bright responds to inquiries and allows third parties to inspect his books. If that is true, and this is so important to you, why have you not availed yourself of the opportunity to obtain due diligence?

In my view you have no credibility, and that is a shame because if you were correct, you would have done us all a significant service.

So lets see what kind of character you have. If this is so important. If you want to save others from making a serious mistake, why don't you ask to review Mr. Bright's books and make a public disclosure of your findings? I look forward to reading your accountant's comments on the results of the review.

Thank you,
Lefty

 

I have done a service for many...perhaps not you. I am fine with that. You found an incorrect number in my initial post, that did not materially alter the outcome of the equation ( a negatve expectation is a negative expectation)and you make a snap judgement about me and my character. If you want to impeach someones character why don't you investigate some of Don's statements, with the same zeal you have come after me with.

SInce we are discussing character....why do you so staunchly defend Don...while you havn't taken the time to research the facts yourself? I think they call it a band wagon....and you are just jumping on board.

I am sure bright will share financials, but would not share information on individual account results( such as their canada group). Nor would I be willing to pay the costs.

Here is the problem with checking financials, If a position is blowing up, what good does it to look at the books. These events tend to unfold very quickly in the market and by the time every one else knows it is a problem, you are too late to do anything about it. I am sure you already knew this though. ( then again, you probably didn't)

Taking my time to respond to your insults and impeachment of my character has already proven fruitless. You really do sound like a broken record. I won't be responding to your posts anymore.

You may have the last word....it's what you wanted anyway!

 

There you go. Now you are losing it completely. You can't answer my comments so you make silly unresponsive jabs at me.

You have insulted me. I am a "detail man". In fact it is because I am unwilling to let things slide, that I insist that you get the details correct. Again you have proved that you are not to be taken seriously.

Now you say that I should take over your responsibility. You were the one that started this with your inflamatory comments.
You claim to be speaking on behalf of others saying "I am just the voice".
So what we see now is that you take no responsibility for your actions. Again you prove yourself a person of no character.

Unless you step up to the plate and actually protect the interest of the poor unfortunate people you were speaking for, I have to assume your motive is personal. To the rest of us, it sounds as though you are a bitter loser attacking Don for personal reasons.

Thank you for making it clear (at last)

I have nothing more to say to you.

Lefty