It's really pretty simple to just call to chat...I do my best to take some time with everyone who is interested in trading. Mr. Rat is correct when he says that we much prefer long term realtionships with our traders...a guy who comes in leaves in a couple of months does himself nor the firm any good. We try really hard with various ongoing mentoring and training options to keep everyone. Later today, we'll have about 50-55 traders, and those who want to be traders, joining us for our 3 day program. I have brought in Rob Friesen from Canada, and Cash Coyne from (remote manager) from North Carolina to assist my brother and I (and our local traders) with the class. This class is open to the public, and serves as a "mutual screening" mechanism..and for $1,000 and 3 days in Vegas, we all feel that the attendees walk away with a lot of information about the entire trading industry, techniques and strategies, and hopefully develop a "comfort level" with the family and the Firm. I wish I would have been able to check out my previous career path (Public Acconting) for a grand and 3 days in Vegas before diving into it, LOL. I try to plan a number of free get-togethers and workshops around the Country as well. This Thursday is our Austin meeting, looks like about 35-40 coming, should be fun. I respect those who do their due diligence, and do my best to answer as much as I can. I certainly appreciate all the nice comments and PM's as well. But I want everyone to feel free to call to chat...we may not be "right" for everyone, and I've been pretty forthcoming with letting people know when they should consider staying where they are, or looking elsewhere. We are "right" for many. I enjoy chatting on ET, and it helps with my magazine articles (thanks to a lot of your questions), and for the most part, the traders we get from here are pretty serious. OK, back to trading, and class starts in 2 hours. All the best, Don
Mr. Bright, I was wondering what is your turnover rate? How many people come in and are successful (can stay and earn a living) % wise? How many people are in your Las Vegas Office Trading? It seems that you have a lot of people taking your course. You can't possibly have 1,000s of traders in your office? Also, is there any possibility of trading with Bright Trading if I don't have 25k to start? Also, can the incident that happened at Tuco Trading happen to your firm? Thank you.
http://www.sec.gov/litigation/litreleases/2008/lr20500.htm If this were something I would be inclined to do, the above is exactly why I'd talk to Don first. Trust me. I've been scammed. Let me rephrase. I learned while I was at a firm, the firm was scamming. I ended up on a gurny in an emergency room. I thought I was having a heart attack. It wasn't. But 'anxiety' hurts like hell. It sure felt like a heart attack. the last thing you need to be thinking about when you're trading is whether or not the principal has his hand in your pocket. I'm sure there are others out there every bit as upfront as Don. You have to find them. I abhor dishonesty. Abhor it. Now, look at this face. http://elitetrader.com/vb/showthread.php?s=&threadid=123636&perpage=6&pagenumber=3 This folks, is an honest man. A goofy looking honest man, but nonetheless, an honest man.
This has been addressed several times here on the board, but since we have new people all the time, here goes. Trading is a business...90% of all business ventures fail within 12 months, we have well over 50% of our people still here in year two. We lose a few more, primarily because they find that trading takes work, or that they simply "don't get it" - some because of money, some get outside employment. All that being said, over half our traders have been with us for 6 years or longer, so a long term career is certainly possible...and if you're going to try to make a living with an unlimited upside, and a (very) limited downside, why not surround yourself with those who have been in the industry for decades? We have no reason to concern ourselves with any regulatory issues. If we need to adapt something, we will adapt. We don't need to use our traders capital for "net capital requirements" so I guess that puts in a pretty safe position for the trader. Our traders start with between $20K - $100K to begin with. Less than PDT, but enough to allow for learning curves, IMO. We've had special programs over the years, and we have some groups that "may" take traders with less capital. All the best to everyone.... Don
You gotta love "Don King Bright" what a guy, LOL. Hey Fly, thanks for the PM's and the kind words.... right back at ya, and keep the Jokes2 thread alive will ya. Don