Sorry I didn't respond sooner, just got back from the dentist. With regard to the traders from Protrader and Van Buren, I spoke with 6 different traders, one said he was successful and had the capital to trade. The others all wanted to trade with either no money up front or maybe could put up $5,000. We couldn't do anything with them at this time. Apparently Echo made them a deal they couldn't refuse. You will have to ask them about the details.
I appreciate this level of professionalism. I state that in contrast to the Onsite Office in NYc, where they didn't even want you to know that forums like these existed, let alone that there were other vastly more professional firms than them. By confirming that the firms are in friendly instead of hostile competition, it adds a measure of professionalism that prevents canibalization amongst the traders (in playing one firm off against another) and other scenarios. Those who have won and lost have a tremendous amount to learn from you two firms (Bright, Echo, Weil, etc.) Cheers
OnSite offices were franchised. Bright and Echo aren't to my knowledge. This is a big difference in consistency and professionalism. Look where they (OnSite) are...outta here! Firms that take the risk of massive lease obligations and other expenses rather than franshise them to third party people who know nothing about trading are generally more professional. If a firm's deal can't be held up to the light to look for imperfections, then they probably have a bad deal. ProTrader, btw, seperated their business into customer (ProTrader) and Prop (The Zone). Zone backs Traders as far as I know. Just not in San Diego anymore.
You are correct with regard to Bright, as they do not franchise. They pay for everything; lease, data feeds, computer equipment, etc. I never see a bill and that's the way I like it.
Just to clarify. Van Buren is still in business, but for how long who knows. There is no communication between management and the traders. The traders that left are all profitable and are doing great with ECHO. The environment is like night and day, with ECHO fostering trust and communication. We all just felt very comfortable with the support and atmosphere. Even had I been offered a better deal at VB or Bright, I still would have chosen ECHO.
I tried calling your SD office for over an hour, but only got a busy signal. I was calling to chat about Super Soes, as I did with Gene Weisman earlier today. Then I came across this "sdtrader" comments above, and would simply like to say that I really don't want to get into "planting" comments like that, and I have maintained extreme restraint concerning the traders who have left Echo for Bright (or to return to Bright). We have come a long way in our communication with one another, let's not let it digress into a silly "war" again. There are plenty of traders in the SD area, and they can choose whichever business model they prefer. Your thoughts?? Don
its funny to see all you nitwits trying to explain a situation you know nothing about. The guys at bright seem to know everything which is hilarious. What they don't know is that we never considered going to bright because they would 've been a downgrade to Van Buren. So you guys at Bright stop acting like you have all the inside information when you don't!!! The reasons for us leaving were not just about money. We probably could've gotten the same deal if not a better one, but it was just time to move-on. We are extremely happy with Echotrade and the owners Jeff and Rob. The office here is filled with some excellent traders that are open to sharing ideas and thoughts about the market environment. By the way, the San Diego office had 4 traders when we started and now it has 11 with more coming...Im out
I'll wait a couple of hours to hear from the leaseholder (Mr. Kirkland) or from Robert, but it is really a poor way of trying to drum up business for the office. I don't pretend to know you, or why you were with Van Buren (the original Bright spin off)....and I have nothing against you, your friends, or where you trade. I just don't like silly comments like those being made above....and if we really want to open the closets, we can. But, as I said, I will wait to hear from those in charge down there. And, why is the phone busy?? Don
_________________________________________________ Don this post has NOTHING to do with Bright. These posts were not planted by anybody. I talked with both the guys who put these post up and they are truly are 2 people who did leave Van Buren to join ECHO. If a trader leaves Van Buren to join ECHOtrade what does that have to do with Bright? Why do you think that someone is trying to plant a slam on Bright. It has nothing to do with Bright. It seems to be a well known fact that 4 traders recently left Van Buren to join ECHO in San Diego. If 2 of these traders want to come on the board to discuss why they they made the change it seems that would go right in line with the theme of the board. These guys have NO BENEFIT from doing this. They simply wanted to set the record straight. BTW If you are looking to discuss SUPERSOES with a firm owner as you know this is the WRONG office to call. Please call Phoenix not San Diego. You know that #. Robert Tharp
Sorry, Robert, but I have to disagree completely. Having 2 brand spanking new posters suddenly appear in your office and post this kind of stuff is very distasteful, and reflects poorly on your firm and your recruiting efforts. Of course they can post whatever they like, and we can have the VB traders tell why this particular group went to Echo, and I could have the ex-Echo people post up some facts as well, but I really try to stay above all the mud-slinging. I'll leave it alone for now, and let's hope we can go back to some propriety around here. Did Martha ever start with you guys?? Don