Good discussion, and thanks for the question. We are not "anti Nasdaq" as many think, but we are "pro" helping traders make money...and we do a great job of (despite the 1 in 100 who we (or anyone else) cannot get through to). We like doing the Opening only orders, we like trading "with" the Specialist, and we like doing MOC orders and other "high probability" plays...especially for the first $100K or so with new people. We simply have not seen consistent Nasdaq profits with any of our people over the last 10 years....some are doing ok now, but they still trade some listed. The "proof is in the pudding"...and if you're makine big money trading nasdaq, then by all means go ahead...we have nothing against profits....and if anyone ever wants to help change our minds, simply show us tax returns ... I really mean that....so many have lost so much chasing Naz stocks in the past, and yet we have continued to grow with profitable listed traders..... We lowered prices on nasdaq to help with our Naz traders, and Redi has added features to help with some of the ECn AND and MM trading....we simply want profitable traders....simple as that. Some people mis interpret what I say about the Naz, and I'm sorry for that....but remember, we have been in this business a long time, and I know many MM's, and all of what we have tried to show people about the downside has proven to be true (Check Knight Trimark for example, and their "practices"). I know the Specialists may appear to be "after you" or doing things "wrong' (it's usually just against ME), but we understand the game a lot better than most...and we know when we are getting screwed vs. simply complaining about not making money. Please, everyone, trade whatever you like as long as you're making good money....if not, consider a change...that's all.... Good Trading... Don __________________ Don Bright (not an alias) http://www.stocktrading.com I heard a rumor that you have to pay a fee each time you post here at Elite, just like an advertiser has to pay a fee for an ad on the radio. Is that true? If so, are you subject to the truth in advertising laws that the SEC has when it comes to your posts? Aren't you required to put disclaimers each time you say how well your traders are doing, that past performance is no guarantee of future results, when you are soliciting new traders?
but then.... I just looked up the word Paranoid in my dictionary and it says paranoid: adjective "why do you want to know?"
We have 54 right now, and are adding to the building to make room for 50 more...hopefully we can get this done in a few months. Feel free to call and come by!! Don
I traded 10 years on the PSE Options and Equity floors....my brother was on the PSE, CBOE, and CME.... We have both been members of PHLX and CHX. Don
OK, having read and re-read some of the posts here...I'll be glad to admit that some traders won't like what we teach, or maybe even the way we teach it. We do get 10 to 1 praise and thanks over detractors. Those that tend to be upset are generally locked into some sort of "mindset" that we don't support...not a big deal....we rely on facts from our traders histories, not somebodies' "backtesting" or small sampling. We probably upset the "chart types" and the "engineers" sometimes, and we probably upset those dedicated to trying to outsmart the Nasdaq MM's.....so, I'll have to take solace in the fact that we do our very best, give good value....and have made changes from the (constructive) input here in ET. As far as the complaints about "more details" and "go into more depth" ...geez, this is only a short class, trying to give people some tremendous insight into what professional trading is all about...and we let everyone return for free....and compared to all the other "mindless guru's" out there, who don't even trade, much less have an extremely successful trading firm, I think we are really low priced. Anyone that wants more depth, come on back for a day or two...and those that join the firm (about half) are eligible for our single day advanced classed taught by my brother..... Sorry we can't please everyone.....but again, my conscience is perfectly clear on our performance, and the firm's performance for those trained speaks for itself..... OK, great venting with everyone.....let's get back to trading... Don
i have a question...how does a ceo of a prop trading firm have some much time to play in a chat room???? can you enlighten us don??? god knows you have the time
First off, I'm not the CEO (my brother is), and secondly I simply have web access on my Redi...I monitor several rooms, some internal some external....it helps me a lot with the magazine articles and is actually entertaining....(and I type extremely well).. 777 no, I get paid by Baron for every word I post...so keep the questions up..... Still love the Jabba picture....I think I may start a spin off firm for losing traders....wanna join?? (sorry, just kidding....lighten up!)) Don
Don, from attending class and reading your posts here I have to say 1. You are also locked into a certain mind set. E.g. Why NASDAQ? Why Charts? Traders as a whole has more disadvantage trading NAZ than trading Listed, it does not mean there are no profitable strategies to trade NAZ. Yes, chart is past, it doesnot mean you can not use chart to help make better trading decisions. 2. You are the one too often use small sample to generalize. You always use your Bright traders experience to conclude what is good what is not good for traders to do. for example, why trade futures? no leading indicator, our traders only 1 out of 10(11) profitable trading futures. Don't you think that Bright traders are not necessarily a good representation of all traders? Anyway, this is what I have observed and you can certainly disagree. By the way, my biggest complain about class is that a lot of time were being wasted.