I think your stretching it here. They did go into extreme detail concerning their opening only play. If you have half a brain, you can be profitable using this ONE technique, and you will easily get back your $1000. I've already made my money back using another one of their high probability techniques which I had never heard of ANYWHERE before. You gonna sit there and tell me it wasnt worth the $1000? Does Carlton sheets go into detail on ANY method that is as close to guaranteed money as you can get in trading? Hmmmmmmmm??? The Brights have a product. It does not guarantee you will become a successful trader. They dont claim that. But if you want to stack the deck in your favor, I would join a firm like theirs unless you have a good reason to think you can make it on your own. Some people think the knowledge they get in their intro class is worth $1000, some dont. There will always be differing OPINIONS. I walked away with a LOT of ideas I have not found in books. A single trading gem is worth $1000. Ive read a lot of books and 99% are garbage. I at least got something out of this class. Maybe you will, maybe you wont. As always.... let the market decide. The Brights seem to be doing quite well in the prop trading firm arena. Says something. Regards, axeman ( Non-Bright trader )
Half a brain, huh? Well, why don't you just do the opening play every day and make $240K a year? It's so easy, imagine if you use a FULL brain!! I'll see your house on MTV's CRIBS!
The story of dairy farming: Dairy farming is a business. Dariy farmers make their living off of the milk that cows give. The dairy farmers take good care of their cows. They continue to do so as long as the cows produce milk. It is a business. When the milk dries up they eat the old cows and get new cows. End of story. Go cows!!!
I would like to chime in and lay to rest this fallacy that the OO is a license to print money. Although to the unwashed masses it may appear to be simple (just envelope the open!) it is a strategy that requires a lot of 'extras'. I've already listed them in a previous thread. I find it laughable that newbies would believe that they can succeed without paying their dues. But then again there are suckers born every minute and more than a few PT Barnums in the world. Even if the newbies churn their account using the OO gaining experience and an edge, they are generating massive commissions for the trading firm. And by the way, a person can just read ET to learn the OO strategy (instant $1000 in your pocket!). Do a search for my name and opening order or OO and you'll find the whole strategy outlined in one thread.
OK, wow, 23 pages. You guys certainly have some opinions, but I don't think many of you even know the Brights. I traded there from Aug 98-Jan 2002. I started with $25k and retired early this year. In 2000, I was the #1 most profitable trader in the Bright system, and I made a very good living in each of the years I was there. I have no association with the firm, and in fact I trade retail with another firm. So, it is with great amusement that I've read these messages. Here's the real scoop: 1) I never took the course. I did speak to the students numerous times at the request of Bob and Don, and I did not ask to be paid nor was $ offered. I think my opinions and strategies are worth quite a bit. I've charged as much as $100k for them (a significant balance remains unpaid by what for now will remain an unnamed trader). So, if I was speaking at the class, it was definitely worth $1,000. Honestly, I've never listened to the full class, but I do believe it's worth something. I think that amount is different depending on your experience. You can't expect the course to be tailored for every person. 2) I know what posters are referring to when they talk of the abrasiveness of Bob and sometimes Don and Earl. After you know them for a while you start responding in kind. Bob used to joke that intimidation and abrasiveness didn't work on the traders after they'd been there awhile, because they learned to act just as pissed off at him as he did to them. 3) I do agree with some of lido's comments about old or incorrect info ( I really don't think the average return on stocks over time is 12%, but I may be wrong), but none of what I thought was faulty directly related to making money. The strategies discussed are real, and they represent those used by the most profitable traders there. 4) The course is to a great degree a marketing tool. But, you need a starting point to learn what works. I, for one, am not telling anyone specific info on how I made 7 figures/year without some serious compensation. But, to those who listened and were smart enough to figure it out for themselves, they have taken the info I gave and made a nice living. I still have enough secrets up my sleeve to do OK. I took a 75 day vacation this year, lost $70k on 2 M&A deals that blew up, and have still blown away the top tax bracket already this year. But, enough about me. What anyone needs to know about any trading JOB (I realize I'm off topic) is that it is indeed a job. I often trade instinet at 4am PST and don't stop trading completely until 4pm PST. I also read, and watch CNBC from 2AM PST to 6:30PM PST. 5) Bright has a lot of capital. So do other firms. The one thing you may get there is more leverage than other firms once you prove yourself. It's very easy to have a personal relationship with Bob, unlike the CEO's of some other firms. They do, however, have a backhanded way of dissing other firms with partial truths. Of course, you must take what they say about these firms with a grain of salt. They are in business to attract and retain traders. 6) I never had a serious dispute with Bright over payouts. They never kept me from withdrawing money. Only once did they question my leverage. When I left, they said, "Thank you and come back again." In some weird way, I think Don may see this as a negative post although I don't believe anyone else will. I hope this is helpful to anyone considering Bright.
In some weird way, I think Don may see this as a negative post although I don't believe anyone else will. I don't think so, your thread has enough common sense that everybody should finally realize when they lose a lot of money at any of these prop firms it's THEIR OWN FAULT. I haven't traded at any of these firms but I am convinced there is not substantial difference between them. Second, whatever they teach in that course is available for free elsewhere. Just do a lot of digging.
This is one of the better posts on this thread. I have attended many trading schools, and read many trading books but nothing can teach you as much as being around other traders. That is what ET does for traders. It is a place where we can all come together and share our ideas. I have learned more from reading and spending time on ET then I have at any school. Some of the most simple things people discuss on this site are more helpful than anything you will read in any book. There is also very good journal threads where traders can post their trades and the strategies they use. Then other traders can read and make helpful observations. I have nothing against Don Bright or Bright trading. I am in the process of looking for a prop firm to trade with and Bright is one of the firms I am looking at along with Echo. I just think that what Babak says about reading ET instead of spending money on trading schools is so true. I wish that I would have found ET much sooner because it would have saved me a ton of money.
i actually think this is a pretty fair post. you do seem to have more of an ego than most of the ultra successful traders i have been around. (i may be way off on this one) your assessment of the course being a marketing tool definitely mirrors Don's activity on this post. let me guess, this is Barry whom opened a bright office in Houston but went back to vegas??? as far as the abrasiveness is concerned i don't think that bob has any control over it at times. but i do know first hand the best way to handle him is to shove it right back down his throat. (he never did it to me again) some would say this is a very unprofessional way to interact with traders of which i would definitely agree with.
Barry, Uhm, sorry, thetraderprofit, I wish I had been at this class When I went to the class, I knew very little if nothing about real trading - at that level, I can't imagine a better way to spend $1000. I have been twice and I would go again and sit through five days of the "marketing" if I knew someone like you were going to talk for half and hour... nitro
I have two responses to Bryan's statement that I have a larger ego than most ultra successful traders: 1) Small genitals don't lend themselves well to a large ego, so I think you are not correct. 2) Whatever ego or opinions I have are left at the front door every day of my trading life. (By the way, once you make a million you can always pay to a) Have your genitals enlarged, or b) Hire a hot babe to tell you you have large genitals)