Hi Maverick74 How is trading going with bright ? How is the platform ? Can your trade your strategy without too much risk supervision ?
Tower Hill is about all their is in the equity space. Most of the "true" prop firms are in the option market making space or the HFT space with futures. Kurt doesn't have a whole lot to choose from especially since he is in LA, not Chicago. These firms here don't really do remote trading.
Bright is going ok. I have to say I didn't realize how dead equities were till I came back into this space. LOL. I think Bright is probably pretty liberal on risk. I think Don called himself a "progressive capitalist".
It's OK. I think it's better then it was when I looked at it 10 years ago. I highly doubt it's in the top 5 platforms out there though. Let me put it this way, the platform is not really an asset for Bright.
I've been to the office and know a few of the traders there. There are a few guys who are supposedly still doing relatively well and swing some lines. A guy named Yoshi is still based out of the office and he is supposed to be one of the best guys in the office. Now I doubt those are the guys that are conducting the training. There are some stories that i have heard that seem like they are pretty liberal with risk...so take that for what you may. Greatpoint capital is the firm where the real traders are, and if you were to graduate to real size you would be trading under that BD.
From what my buddy said, they had some guys claiming they made good money trading (500k gross or so) who were suppose to be the ones training. So they very well could have guys who do take some decent risk. Just odd that they claim to have guys making a 500k or so, but then starting new guys at tiny levels. Maybe the proven guys are trading their own cash...who knows. But at the end of the day all that matters is this insanely bad deal they have for new traders. Your point about the other firms is correct...they aren't bringing on new traders with no experience. The only guys they take on have very good experience and start out trading decent size books. But...when they were bringing on new guys (which wasn't that long ago) they never started guys at such crazy small levels. Also none of them have or had any crazy non-compete contracts which wanted money from the trader if they left. I agree there aren't many places anymore for new guys to go (the place Mav posted looked pretty good considering what's out there for new guys). If I was a new guy in these times , besides looking for these firms I would also be contacting every trading firm/hedge funds out there seeing if any of there guys need a trading assistant. Ya never know...I had a buddy who called every firm he could find asking if any of there traders needed an assistant, and while most said no , after a few weeks he actually found one that wasn't advertising looking for one...but had interest. He met the trader and the guy hired him. You have to think outside the box sometimes....