Exposing one Donald Bright

Thanks for (partially) supporting our ideas as you stated in number one, to a point....and I have always said, 'show me consistent profits with any strategy'....and of course we use charts....we try to get people away from (too much) substantiation, since they tend to never make any money.

Regarding using our traders, a couple of thousand over 10years, that is what I use to draw on....we work really hard with our people to make them successful, and if I can point them in the right direction, then they can make enough money to stay around and try different things.

Regarding futures...the same thing applies....the (overall) numbers, not just our internal numbers reflect what we say...simply 'there is a better edge on the trading floor" and 'you have a tough go trading against the big MM firms like Hull Trading in any futures pit....of course you "can" make money, we just look for consistency....heck I trade emini's from time to time.

I think what may be happening here on ET, where we have a more "sophisticated" group....is that a few are taking my "shock tactics" too much to heart....90% of the newer people need to see what really is going on....and our numbers show that it helps. Some traders who are already making big money may not want to hear what we say....heck some people can make money using any strategy....we simply try to help the most people possible.

How about we go back to jumping on Nassar, or Linda, or some of the others....?? I'll stand by what we do, and again, thanks for valuable input....and I hope to see you in the advanced class, I promise not to bore you with basic strategies.

Don

 

The firm was founded by Bob Bright and Edward Franco. Don joined a few years later. He's director of education, so I'm sure he's focused on getting people to his classes in Las Vegas and his "snake oil" tour.

http://www.stocktrading.com/html/about_us.HTM

 

So Don,

Is this really your "final" answer?

"777 no, I get paid by Baron for every word I post...so keep the questions up....."

You are saying unequivocally that you do not pay a fee each time you post here at Elite, is that correct?

You are claiming that you get paid for every word you post, is that correct?

These are simple, direct questions, and joking about the answers rather than being direct is a sign of avoidance, and possbily an unwillingness to answer them.

 

http://www.nytimes.com/2002/08/08/business/08PLAC.html

When Mercurial Is the Word, Traders Speak of Love, or Not
By MATT RICHTEL


odd Nagel, who trades stocks full time in downtown San Francisco, dismissed Wall Street's biggest event on Tuesday. He was so unconcerned about the news — the earnings report from Cisco Systems, an ostensible market bellwether — that shortly after the New York markets had closed, he turned off his computer and headed home for the day.

After all, Mr. Nagel had already got what he wanted out of the market that day: Volatility. Piles of it.

"It creates opportunity. You want to see order flow — lots of buyers and sellers coming in," said Mr. Nagel, 38, who trades for his own account in a Bright Trading office. As for Cisco, he said: "I really wouldn't pay any attention."

Along with corporate scandals and painful losses, the summer on Wall Street has been one of unusual volatility. A key measure of market volatility surged in late July to its highest level since the 1987 crash and has been sustained for a period not recorded since after the Sept. 11 attacks and the collapse of Long-Term Capital in 1998. To some, the extraordinary volatility is an indicator that the market will soon turn.

Across the world, traders are trying to find their place and a rhythm in what professionals are referring to as a "trader's market."

Because of the uncertain outlook, long-term investors have been wary of adding to their stock holdings. But Mr. Nagel and professional day traders like him, whose number has been depleted by the collapse of the bull market, prey on the wild swings, trying to capture a dime here or a nickel there on trades of 100 shares to several hundred thousand shares. Traders of stocks at big firms — like Merrill Lynch or Charles Schwab — say they can also take advantage of the mercurial movements though they do not find volatility inherently good.

The action does not play as well among smaller investors who follow the market from a home office and who still trade — though not as feverishly as in the dot-com boom. These people wait for the news on the economy, Cisco and other companies that may indicate a change in the market's momentum, looking for signs of stability and direction. Where will the market go? Will it become easier to make a buck?

Interviews this week with a variety of traders, from people who manage their own retirement money to full-time traders to big-time money managers, show how Cisco's news was anticipated and processed and at times even disregarded.

Though Cisco's earnings report exceeded expectations and its stock rose 14 percent over the last two days, its chief executive said he remained concerned about business at the service providers in the telecommunications industry. When trading resumed yesterday, phone stocks had the biggest decline in the Standard & Poor's 500-stock index. Over all, stock prices rose.

By phone from Israel, Phil Bak described how he arrived at the Jerusalem Straight Line Securities day trading office on Tuesday at 3:30 p.m., an hour before the market opened in New York. Like Mr. Nagel, Mr. Bak uses sophisticated software in hopes of making pennies of profit on frequent trades. On Tuesday, punctuated by cheese pizza and an afternoon prayer break with his fellow Orthodox Jews, he traded well, turning quick hits on trades involving Microsoft and Electronic Arts, a video game company. Mr. Bak said he was up $630 (excluding commissions of a penny a share).

Unlike Mr. Nagel, though, he was eager to see Cisco's results, hoping to get a sense of the market's direction from the giant maker of Internet networking equipment. "There can be a chain reaction if Cisco has good earnings," he said. "It can move the futures, which will move the stocks, and turn the whole direction of the market around." Futures contracts on the major indexes are traded ahead of the market opening, often indicating the sentiment of institutional investors, and sometimes give the direction of the first minutes of trading.

Mr. Nagle and Mr. Bak had different views on the Cisco news because they trade stocks using different strategies. Mr. Bak is looking for and trying to capitalize on up and down trends and shifts in momentum. Mr. Nagle tries to capitalize on excessive spreads between bid and ask price on the stocks he tracks, relying far less on the market's overall direction.

Both men favor the volatility, they say, because it helps them make more money when they accurately assess the situation. Mr. Bak, 24, who has been trading since September, says he struggled initially. The "last few months have kind of turned things around, and I've been profitable," he said. "The volatility is great."

Small fry and part-time investors, though, find not just the bear market disconcerting but also the volatility that has accompanied it of late.

Thomas J. Petrarca, 45, who lives in Woodbury, Conn., says he made 50 to 100 trades a week in the dot-com boom. This market has changed him. Now he makes perhaps 20 trades a week, sometimes fewer, and he and his business partner spend more time making investments in, and helping run, start-up companies. He has a 4-inch-thick black binder of the trades he placed in 2000; this year's binder is not yet an inch thick.

"The market is so uncertain and unpredictable," Mr. Petrarca said. On Tuesday, amid a volatile stock market relished by professional traders, Mr. Petrarca did not place a single trade. He said he did not expect the Cisco news to be particularly good, or to start a lasting rally.

While small investors back away and day traders try to exploit volatility, professionals zero in on their stocks. A mutual fund analyst who follows Cisco slavishly for a big firm was eager on Tuesday to see if his call on Cisco had been right and what it would portend for a broader group of stocks. The analyst, Giri Devulapally, specializes in Cisco for T. Rowe Price Associates, the mutual fund company based in Baltimore. For months, he has analyzed Cisco — and its suppliers and customers — hoping to give his portfolio managers an edge.

Like an expectant father, he waited on Tuesday for the end-of-the-day news. After a lunch in New York with the chief executive of Nokia, he returned to his office to join a conference call with Cisco executives. The Cisco report was generally good; the company beat the consensus earnings estimates by 2 cents a share.

Mr. Devulapally scrambled to put together a report for his portfolio managers and to give them guidance on whether to buy or sell the stock — decisions he said he could not disclose as a matter of company policy.

Generally speaking, Mr. Devulapally said, company-specific scrutiny can give major brokerage firms an advantage in a volatile market. When a market swings, their research shows whether a particular stock is far out of line with its relative strength in the marketplace.

To an extent, this is a matter of resources, he said. Individuals work single-handedly to understand numerous companies and then embark on trading strategies, while the big firms divide these tasks among specialists. This should give them an advantage, at least in the short term, though major gaffes by analysts in and after the dot-com boom showed that it does not always work.

"I try not to think of volatility as a good thing or a bad thing, it's just a fact of life," Mr. Devulapally said. "Volatility can drive a price down more than we think it deserves, and we may add incrementally to that position. Or it can drive a price up so that we get the performance we thought we'd deserve in two or three years, and we can reduce our position."

Cisco is important, he said, because it buys a lot of chips, provides insight into the health of telecommunications providers and offers a glimpse of a broad swath of the economy. "They provide an insight into corporate spending," he said.

When the market opened yesterday, he said his expectations that Cisco would move technology stocks in general were validated. The semiconductor index rose initially and then fell before rising again.

"Cisco has an impact on the market, whether it is positive or negative," Mr. Devulapally said. "And today it was both."

 

Even though the article is fine, the reporter had an assignment to find out how traders were going to react to Cisco's earning....when I tried to explain to him that we really don't care, since they come out after the market closes, he wasn't too interested in what we were doing.....but no problem, I'm always glad to see anything positive written about any form of trading these days....

Don

 

...is and always will be a salesman first, trader second...notice he's ALWAYS posting on this board. kind of makes you think whether or not the guy even trades or runs a business.

just beware.

 

I hope you don't take the title of this thread literally. Don't want to see that.

I hope you don't have to pay by the post. Refer to a thread in Chit Chat about the over under with you and Chasinfla. Bets may be off!

I think that what is really important about your class or being a teacher in general is that as the line from the Dead song goes, "You ain't gonna learn what you don't wanna know."

 

I took the Bright class and want to comment.

This is NOT hard to figure out guys...common... stop jumping
all over Don. Here are the facts as I see them

Don does say stuff like: ( not exact words)
Cant make money in naz consistently
Charts dont work
Dont trade futures, no edge
Swing trading is a myth
Level 2 is a sham, no useful info there
and so on and so on....

But common guys, take it with a grain of salt, this
is MARKETING. Don is a business man.
He is marketing his product. He does have a bias.
Duh. He believes in his product.
There is nothing wrong with that.

However, look at the Brights business plan and you will
know they are the real deal. You make money, THEY make
money. It's simple. They do NOT want you to fail.
They lose a revenue stream if you do fail.

Want to know why their techniques are biased in certain ways?
LOOK AT THEIR BUSINESS PLAN. ding ding ding.... hello!

Trading techniques requiring lots of trades/day = commish profits.
That rules out swing trading and even futures trading where
you tend to make only a few very select trades a day.

They are also going to focus on the methods which the
MAJORITY of people are capable of learning. AKA the EASIER
stuff. They dont need a bunch of people showing up, signing
up and then losing their 25K instantly trying to play futures.
This would be BAD for their track record.

The Brights ARE interested in turning you into a profitable trader.
There is no doubt about that. They have an excellent track
record for accomplishing this.

The chances of someone becoming a good trader by joining
Bright VS learning to trade retail on their own is really good.

It's a business. They are good at it. They do it a certain
way for a reason and will use a bit of "spin" to get people
to do it their way. This spin will piss off the real traders
who do it in other ways. Oh well.... boo hoo.

In the end, the newbie traders win and the Brights win when
following the Bright method.

Im sticking to retail. Because I have found my own edge.
But I would recommend the Brights to newbie traders anywhere.
The $1000 is nothing more than a filter for the Brights.
They need to make sure you are serious. These guys are loaded,
they dont need your $1000 tuition, trust me.

The class is well worth the $1000 to any new trader.
It was worth it to me, just to get someone else's view
of what the market is, and what their approach is.
I didnt need to be told the exact detail of their trading
methods. I walked away with a TON of ideas.
Then went and did my HOMEWORK. It was worth it.

I mean get real..... You really expect someone to
teach you a method in excrutiating detail which will make
you thousands and thousands of dollars for the rest
of your life for a measely $1000???

I think that in general, lidodido is overreacting.
He must go nutz over the lose 20lbs in a month
radio commericals....LOL



regards,

axeman

 

"However, look at the Brights business plan and you will
know they are the real deal. You make money, THEY make
money. It's simple. They do NOT want you to fail.
They lose a revenue stream if you do fail."

Not true. They only make money if you pay desk and training fees and write tickets. If you fail as a trader, the snake oil tour will come to a city near you to find fresh bodies to fill the vacancies.


"The Brights ARE interested in turning you into a profitable trader.
There is no doubt about that. They have an excellent track
record for accomplishing this."

Again, not true. They are interested in finding as many new traders as possible. Whether you are profitable or not is secondary. Why do you think they keep opening new offices filled with a large majority of newbies?


"The $1000 is nothing more than a filter for the Brights.
They need to make sure you are serious. These guys are loaded,
they dont need your $1000 tuition, trust me."

The $1000 is a lucrative revenue stream for the Brights. They're NOT loaded because every prop firm is feeling the pinch, the Brights included.

"The class is well worth the $1000 to any new trader.
It was worth it to me, just to get someone else's view
of what the market is, and what their approach is."

You can buy a handful of good books for less than $150 to get other people's views and a LOT more worthwhile material. You don't need to spend $1K to hear 90% marketing and 10% of trading techniques!

"I mean get real..... You really expect someone to
teach you a method in excrutiating detail which will make
you thousands and thousands of dollars for the rest
of your life for a measely $1000???"

YES, if the Brights are indeed going to benefit from you being profitable! The truth is that there is NO SUCH METHOD! So the $1000 is being spent for nothing more than an infomercial!! Carlton Sheets and Don Lapre's tapes are much cheaper...


_______________________
A fool and his money are easily parted