Don: I'm confused on your results today. How many shares are you doing? When you say you made $640 (32 cents), did you do 2000 shares of each of the 4 fills and make an average of 8 cents on each (4 x .08 = .32).... 2000 shares x .08 x 4 positions = $640 OR did you do 500 shares and make an average of 32 cents on the four fills....500 x .32 x 4 =$640? Thanks.
Don: Thanks for the response. Don't know if you got the pm I sent you yesterday so I'll restate my question here. I'm curious; if you find a niche like the OO, and it's profitable for you, why would you share it with the world? Would not more and more traders doing it tend to dilute its effectiveness and profitability?
Because he doesn't make his living off of trading, he makes his living off of being a marketing manager at Bright Trading, and getting a percentage of the profits of the firm, a part of which comes via commish, etc.
As opposed to my staunch supporter, Mr. O777, let me answer the question truthfully (as opposed to the the conspiracy theory). I have found that over the years, sharing information via education works as an attraction vs. a dictation by way of "leading by example." We have hundreds of traders who make money doing this, and there are thousands of stocks (and various ways of "skinning the cat" as it were.....(No PETA people need respond, I am of course speaking metaphorically...lol). This strategy is only a small part of "what is working" these days. Nonetheless, it provides a way to "get into the market" every day, with a bit of an edge.....and I'm not too fearful of diluting the market....since I know that I can teach 1000 people how to play successful blackjack, and only a few will take it seriously enought to be profitable consistently. Actually the OO's are a bit simpler than card counting, but the same theory applies. Don
777: I just happened to send you a pm prior to seeing your comment in response to my question to Don. As I'm not that familiar with this ET site I don't know if I'm sending pms correctly. I sent two yesterday and see no responses. If you got the one I just sent you, reply if you chose, but if you didn't get it, at least let me know and I'll re-ask my question here. Thanks
While calling me a detractor, I see you didn't indicate my statements were incorrect. It is true that you make more money via the "firm" than by trading you own account, right? On to the next point: You say: ".....since I know that I can teach 1000 people how to play successful blackjack, and only a few will take it seriously enough to be profitable consistently. Actually the OO's are a bit simpler than card counting, but the same theory applies." You know that you can teach people how to play blackjack successfully, yet can only achieve less than a few out of a thousand? Really? Only a few? A few would be say 5 out of 1,000, or less than 1% success. And you would blame it on them? Really..... But you can take people and teach them how to trade, because they take it "seriously?" You can achieve the following claims: Don Bright (Mar 13, 2003 5:16:27 PM) Our stats have been posted, but it's roughly like this.....about half make it through the first year (vs. 10% of overall business ventures, not bad), and we have about 70 percent successful in year 2, 80% year 3, etc. We have our original traders from 10 years ago.... because people take it seriously? My guess is that if you could indeed teach people to gamble on cards, and prove a winning formula consistently, that you would have a line miles long....and you would get more than 1% to take it very seriously. Once again, you demonstrate your slippery and shoddy methods of marketing.
Same old Crap. 777, I have no reason to 'boost' Don - I trade at Bright and now I trade successfully. I appreciate their frankness, their low overhead and their HONESTY and OPENESS (traits you appear to be inadequately blessed with). YOU should know, read any Trading Book, attend any seminar, watch any trading floor - there's more losers than winners because the "losers" refuse to exercise discipline, a proven methodology and financial controls. I know 1st hand because I lost a lot of money (at Bright and at Schwab before that) arrogantly (probably like you) doing damn near everything wrong. Don's OPG Orders 'work', not just for him, but for many other 'posters' on this board and dozens more at Bright and probably other brokers. They work because these folks will invest the time, exercise the discipline and 'follow-the-rules' to succeed. Card Counting in 'Vegas is well known to be the best way to push the 'edge' in the player's favor, but, very few will learn how, even fewer will actually practice this seemingly difficult method!! You hide behind your anonymity and your 'self-righteous' defender of the downtrodden is pretty lame. You probably represent a competitor of Bright that isn't as good at taking care of the people that are willing to make the effort to make this profession profitable!! What a LOSER!!!!!!
You are a Bright Trader? What a surprise that you would come to Don's defense. Your post reeks of objectivity. Remember Saddam Hussein? He had many staunch and loyal supports. Because someone supports a leader, or an employer, does that in itself make the employer correct, accurate, honest, etc.? Because someone is making arguments the methodology in which Don markets his firm, does it really matter who is making the argument, if the argument is sound? Why would it be any more or less sound of an argument, if it were being presented by an unknown, or a chief litigator for the SEC?
I trade at Bright because it's the best opportunity for my money based on costs. I also trade two other accounts, larger than my Bright account, at two other brokers because Bright does not offer the features/products/commodities I choose for those accounts. I am an independent, self-employed, broker/trader. I would 'switch' tomorrow if a better 'deal' came along for my equity trading or if Bright were anything but honest in their dealings with me. YOU are a spine-less, self-indulgent, and 'victimized' loser of the top order. Keep hiding behind your veil, otherwise we may all laugh at your '67 Falcon, your tattered jeans, your $100 trading account, your bedroom you stay in at your mother's and your eyes that stare at each other!! Have fun, you must doing this board, too bad you don't know what you're missing in the 'real world' - GET a LIFE!!