For Serious Traders from Don Bright

Discussion in 'Prop Firms' started by Don Bright, Oct 29, 2001.

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  1. Eqtrdr


    Dear Don,

    Bob Bright is a Master of all Masters. He is the reason why I'm still persuing a career in trading. As I mentioned in my book, I have taken the scenic route. I spent close to 3 years with Bright Trading, lost some but gained an incrediable amount of knoweldge and the friendship of some of the best people in the business.

    Don, you remember 3 years ago both of us working very hard to prepare for Bright's 1st training seminar, we could have been partners today.

    If there is anything I can do, please let me know.
    #41     Oct 30, 2001
  2. is good to hear from you, and thanks for the kind words! Good luck with your pursuits!
    #42     Oct 30, 2001
  3. Aly,

    You have some very nice things to say about Bright, but I notice you say that you do not trade there anymore.

    Could you enlighten us as to where it is that you trade, and why you left Bright?


    #43     Oct 30, 2001
  4. To Courtney....

    Our payout system has proven to be a God Send to many traders. Our traders can draw 75% of their profits at any time, and we hold back the balance until year which time they get the 25%, so they can pay their taxes. If at any time during the year they need to put money back into the account, we put our share back as well. This way we don't run the risk of having our traders re-classified as "customers" (ala Senate Hearings that closed other firms), and allows us to keep this structure that excludes our traders from Social Security taxes ( a real savings of 15% from the IRS).... It is academic to those that keep money in their accounts, or those that are not currently making money.

    Another "myth" de-mystified! :)
    #44     Oct 30, 2001
  5. Don,

    For those of us that do not need this "God-Send", and have good money management skills, can we opt to take this risk ourselves of saving for our taxes on our own and thus get all of our money as we work hard to make it?

    I have also heard some things about the 25% of profits you withhold from all of your traders that would be great for you to clarify:

    1. Is it true that not all traders get this 25% back? That for some traders you have the option of keeping this money, and your traders may only get to keep 75% of what they make, period?

    2. Is it also true that you may be withholding large sums of money for traders that make a lot, but that Bright keeps all the interest that is earned on this money? Shouldn't the traders get the interest on their profits?

    #45     Oct 30, 2001
  6. Eqtrdr


    Hi Julie,

    Two years ago I was offered an opportunity to become a Portfolio Manager in Denver, CO, and I took the job. A year ago I started a Hedge Fund and at the time Bright Trading was not set up to sign up Limited Partnerships as trading accounts.

    ECHOtrading was able to accommodate my request and I opened the account with them.

    For the past year I’ve had an excellent relationship with Jeff, Rob and Vince at ECHOtrade and recently with Jonathan in Las Vegas where they’ve put together their first seminar.

    I hope this answers your questions.
    #46     Oct 30, 2001
  7. Bryan Roberts

    Bryan Roberts Guest

    well i must admit i am using an alias. i have already been threatened legally by one of the firms mentioned on this site. i believe this same firm has also threatened this site and had their firm removed from the broker rating pages. so please forgive my anonimity, but it is a necessity. having gotten that out there i had to respond to this post. i just wanted to let everyone know that Don Bright is not Bob Bright. Bob Bright owns the firm along with a partner and is a very good trader. Don Bright is his brother and as far as i know is not a partner in the firm. Don please correct me on any of these points....only want to get the truth out there. i'm not saying Don is a good trader or bad trader but since he is putting his opinions out here i think it would be helpful to know he does not have his brother's track record. also, the majority of bright's offices use a satellite feed for first alert and if you don't have weather like Las Vegas then be prepared to go down any time there is heavy cloud coverage....just the way these things work!!!!! "penny wise pound foolish"
    #47     Oct 30, 2001
  8. Man this thread is better than a movie. Like watching a heavyweight fight.
    #48     Oct 30, 2001
  9. Bryan Roberts,

    This is America. Why were you threatened? I find this very strange to say the least. Unless you are posting obviously false
    information, you should be allowed to voice your opinion. Bryan,
    you are welcome to send me an e-mail in confidence if you would like. I feel very strongly about free speech.

    Gene Weissman
    #49     Oct 30, 2001
  10. Bryan Roberts

    Bryan Roberts Guest


    thank you for your concern. i was not threatened on this site but i am sure this firm reads these posts . (since baron acknowledged that they made him remove their name from the broker ratings page) i know they have threatened others in this business but i would rather not discuss the specifics for obvious reasons. i just wanted to let people know there are valid reasons for having an alias on these boards. again, thank you for your concern and also thank you for the information you have shared in the past.
    #50     Oct 30, 2001
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