Free Bright Trading Mid Year Workshop

Discussion in 'Prop Firms' started by Don Bright, Jul 25, 2012.

  1. Maverick74


    Honestly, I doubt he is doing anywhere near that trading e-minis. He averages into all sorts of positions. Hell, he is probably buying KCG hand over fist right now. I would bet that most of that income is coming from "investment" type trades and he makes some coin on the side trading e-minis. Just my guess.

    Not to take anything away from the guy. Everyone I know who has met him says he is sharp as a tack and comes across as a very astute trader.
    #51     Aug 2, 2012
  2. VinMan


    The top mentor there has been quoted as saying he makes $23k per day so why cant Bob? LOL.
    #52     Aug 2, 2012
  3. hitnrun


    100 contracts is a huge position for any trader to handle for more then a few ticks , too much risk

    most traders will take a position with 5 - 10 contracts at a time on average

    anyone trading 50-100 es contracts is usually trading for ticks

    bob i am sure is holding positions for days with size that is hedged
    probably does some swing trades intra-day , he has the capital to take the risk with trading size
    #53     Aug 3, 2012
  4. Bob was trading between 500 and 5000 contracts per day in 2011. Has switched over to SPY's this year, since we're all trading the the Family "Bright Investments" account vs. Bright Trading accounts. Just a tax/regulatory thing.

    It's all just a matter of proportionality. He also bought in for $1million to a charity World Series Poker tourney. And, he plays poker twice a week with Bobby Baldwin (MGM) and Guy Laliberte and a few really rich guys. Bob does pretty well with this guys. Just like me or you playing $100 minimum blackjack, enough to enjoy, but not enough to worry about.

    All the best,

    #54     Aug 3, 2012
  5. Maverick74


    Don, Bob gets 60/40 tax treatment on futures which for his tax bracket should save him 13% a year. I'm just curious why he would get better tax treatment on SPY.
    #55     Aug 3, 2012
  6. He has that sort of money to throw around and your trolling this place to get people to sign up for "training" so that you can get ther "brokerage" fee's !! Now the training is "free" .... where is this thread headed ?
    #56     Aug 3, 2012
  7. Maverick74


    Huh? Wrong thread dude. They are not a broker and no one is selling training. LOL.
    #57     Aug 3, 2012
  8. Mixed straddle rules maybe, I'm really not sure.

    #58     Aug 3, 2012
  9. Maverick74


    Nope. No tax benefits for mixed straddle on shares, only on options.
    #59     Aug 3, 2012
  10. As I said, not sure of the details, just know that he's trading SPY this year. We may set up a futures account in the family trust as well.

    Did see this however:

    Generally, a straddle for Federal income tax
    purposes involves the holding of “offsetting positions” with respect to actively traded personal
    property (such as stocks, bonds, commodities and
    currencies). Positions are considered to be offsetting
    if any position held substantially diminishes the risk
    of loss associated with holding one or more other
    positions. If one position substantially diminishes
    the risk of loss on another position, it would appear
    that the tax straddle rules apply even if the second
    position does not reduce risk of loss associated with
    the first position. In other words, risk diminution
    does not appear to require mutuality.[/color/

    #60     Aug 3, 2012