I used to be a believer in the need to 4x or much more in leverage to make a living, but now I think that is a fools game. Maybe I am on a roll, but it is one that has lasted for quite a few years now, but I think using less leverage is just fine. I am talking about having an account where I can trade 3 to 6 contracts of the minis or EC or CL in 1-4 quantities. Stocks, there are plenty of good quality stocks under $50 to trade. INTC, MSFT. I also grab APPL on occassion for 100-200 shares as well as options. As mentioned Bright seems to have a problem with people who use options unless they have a Phd in math. I don't, but I seem to be able to make money on my options trades. I did well in math in college, and maybe that helps, but I don't buy it. I take my share of losses, but have learned the hard way to control the losses and major in wins. I have talked to Don in the past, and am still interested in the prop idea, but not sure I see the added benefits of getting licensed, and paying more for just about everything related to trading. Anyway, I still appreciate that the Brights come here and are willing to converse about trading. My 2 cents, they are a good place, and I would go there if I could understand the added benefit of being "pro".
Futures are already levered around 20 to 1. That's a lot! As for stock, one can get the synthetic leverage through lower priced stocks in additional to the 4 to 1 intra-day. There is more then enough leverage to hang yourself. And FX is levered 50 to 1 if you want to go that route. Synthetic stock is levered 5 to 1 overnight which I believe is the same leverage for single stock futures.
the webcast had some interesting info, topic of program trading was a plus always interesting that bob , who trades futures profitably participates in these events I guess you can never have enough money bright is not competing with most prop firms out their for somone scalping for pennies If you need leverage & your holding positions for minutes , hrs , or days then their model may work for you most traders with them are trading for bigger moves in a stock is how they can warrant in paying the commissions the overnight buying power is their edge for traders , always will be overall bright does still share info about the industry with traders when other prop firms can care less about traders overall anything you learn can be a plus for traders these days , even through self promotion which is fine they definitely don't need the money but it's all good business for them
Don, I can tell you are a genuinely nice guy. I'm not a shill, since i'll never give you any money; however, i do think i can offer some good advice. Could you use some of that 12 million from your brother (?) and design a good website? It looks horrible. It's not even good for 1998. This is like owning a bank and the front of your brick n mortar is all garbage, spray painted, and crap thrown on it. they may be good and have money, but appearance is important. sorry if i come off a little too harsh, i say it with a smile, but i really, really think your business will grow with 50k pumped into a nice website.
I agree. I actually know a few traders who based their decision on not going to Bright on the website alone! They would be better off not even having a site. Hell, you can hire a kid from UNLV who will do the damn site over for a 1k or 2k and it will make a difference.
bob only made 12 million plus last year , their saving up to revamp their website lol. bob is making big money in futures for several years now , he is doing something right , very few traders can make that kind of money in any market
Well...I think his capital base is north of 200 million so that's what...6%? He also likes to average down.
most likely he is holding positions for days with some daytrading with size to make those gains they say money makes money , he seems to know his stuff would be cool if Don could share a bit about how agressive his style is ?
Trader Monthly did a write up on him a few years back. He is VERY aggressive and he will hold on to losers for a VERY long time. He can afford it I guess but it's not something most people want to emulate. One of my fav trades he did was averaging into a massive loser on Providian starting in the mid teens all the way down to the low single digits. He kept buying it. The stock eventually recovered and he actually made some decent coin on that. But 99% of ET would have blown out their account 5 times over doing that trade. I think that position must have gone against him 80% at one point. Hey if you can take the heat right? LOL.
yes , i remember all that stuff. when you have millions to risk you can weather the storm I am sure is doing well with trading the bright family fund too must be nice to be in that situation , stress free trading Any idea if he is trading futures on the redi platform ?