Prop firm (bright?) for nondaytrading buy-hold stocks?

Discussion in 'Prop Firms' started by econometrics, Jun 23, 2011.

  1. hi, i have a couple of stocks (pairs) that i would like to buy and hold (for maybe 2-3 months) instead of daytrading. I can deposit 25000-30000 USD.

    The thing is I want more margin than 50%.

    I like InteractiveBrokers' commissions, data fees, lack of software fees. No commissions for the first 3 months, so almost free except for the initial $10 data fee.

    Is it possible (what are the cons?) to buy and hold some paired positions for a month using Bright? Besides the "upside" of more leverage, what will be the downside? Is the software fee the only downside?
  2. t0pd0g


    I believe Bright now has a profit split of 80%. That would be the only downside. But if the Bright structure of allowing you to hold overnights makes you money then it would be worth giving up 20% of your profits. Bright is a good firm.
  3. doesn't bright clear with goldman? goldman holds back the 20% profits, don't they?
  4. Maverick74


    I'm not sure if Don is going to let you come and basically not trade. Someone has to pay to keep the lights on you know.
  5. DonKee


    Yea, Bright used to have a $400.00/month desk type fee unless you did a certain number of trades. Plus there'll be a haircut for using their money.

    How is it that people who have money making strategies, don't just build up their account? You might be doing yourself a favor by being margined at 50%.

    I've been trading for 30 years and I can tell ya, there's always another "bus" coming round that corner.
  6. Maverick74


    What? Dammit Don, how many yachts can you water ski behind? How many? :D

  7. Actually, it's all in the numbers. I suggest you call me to get the real facts about it all...nothing "magical" - I'll send you a PM with my cell number (still working at home these days).

  8. Maverick74



  9. Brights Costs:

    Start Up Fees/Costs…

    1) Acquiring Series 7 Lic and misc stuff for Bright before joining: About $1000.00

    a. Includes Cost of Studying & Passing The Required Series 7 License Test…
    b. Does not include The Time Costs to You Spent Learning & Doing It

    Yearly Fees…

    1) Yearly Exchange Fee: $500.00

    Monthly Fees…

    1) REDI Software & Desk Fee $200 A Month: If You trade less than required minimum volume

    2) Internet Fees: $30 A Month…

    3) PROFESSIONAL STATUS Data Costs for NYSE, NAZ, etc Stock Data… Approx $100 a month.

    Sum of Approximate First Year Costs…

    about $4800.00 to $5800.00 not counting training…


    But if You Are Smooth Talked Into Taking The Training…

    Then your costs are about double your first year of costs…

    About $8000.00 for the first year costs in total if you take the training… if not more…

    The Optional But “Recommended” Training Costs For Bright Las Vegas Location Training:

    If You take BOTH the 3 Day Training Class + 2-4 Week Boot Camp

    Cost of Training Somewhere between $1000 to $1500 or more
    + Add Hotel Costs, Transportation Costs, Airplane Costs, Food Cost - about $1500.00 or more...

    You should not take this training unless you like throwing money away…

    See my attached word doc on VALUE of Bright Training…

    BrightTrading Training Is Worthless & Costly.doc

    Best of Luck To Ya Laddie… Choose Wisely… :)
  10. agree. thanks
    #10     Jun 24, 2011