Don, the "holding money" I think most people are concerned with is this one about the Bright policy of withholding 25% of traders' profits for a year, from a previous thread: 11-07-01 09:05 AM OK, here we go This is another misunderstanding. 22 traders out of 500 did get a 75% split to them last year....because we carried them when they went below the minimum account balance, so we were essentially backing them....and they were thankful to us for keeping them in business. We carried many traders with zero or negative balances for long periods of time (try that anywhere else...we actually try to work with our people who may be having a rough time). Everyone who maintains their account balance above $15,000 (or averages $25,000) gets all their money, period! If they don't make money, it makes no difference anyway. Other firms that "back" traders keep upwards of 50% of all traders profits! We are even going to modify our policies regarding the withholding and interest allocations. Everyone will be pleasantly surprised....Stay Tuned!
Interestingly, I just registered on this site, primarily to respond to this clown, and I noticed this right on the registration screen: == Advertisements are strictly prohibited. You warrant that you will not solicit our members through your posts. == Seems to me, Mr. Bright, that you are violating the warrant you gave here. Your attempt to lure interest with a deceptive thread title and your ludicrous posts regarding "strategies" ("our traders buy low and sell high! shhh -- don't tell anyone, it's top secret!!") make me think you were once a used car salesman. The icing on the cake is having your buddies (or you with other screen names?) log in and wail orgasmically about how interesting and wonderful and generous you are for advertising yourself. My advice to you would be to at least pretend you have some class and advertise your service somewhere it belongs, instead of this sleazy strategy of using free message boards.
Well, this is the funniest and most ironic post to date. Since I was brought into this nightmare by people who were sick and tired of ECHO using screen names to bad mouth Bright Trading. I responded with facts, and was surprised that so many people seem to be spending more time worrying about my business than I do If you really are new, spend some time reviewing the posts if you like. And since I do spend a lot of my time responding to traders questions every day (not just here), and since all I can draw upon with honest answers is Bright Trading, what do you expect? Cruise around, you may find something of interest. Name calling is certainly mature, by the way, be sure to say hi to Wally and the Beav for me. Signed Don "the clown" Bright
Don, hey, i thought you agreed to keep it clean. why are you bashing Echo again? (in the post above) look there are unhappy traders that leave your firm and go to various brokers. the best way to deal with the complaints is to listen and make the improvements of which it sounds like you are beginning to do. just way too late for some of us.
Has any one tried to get to Jeff Dewit or Rob Keller, with any success recently?? Having growing pains Echo??
Ok. I simply have to reply to some of Don's comments. I am just curious what it is about compaque's comments that tell you he is from Echo? He doesn't appear to be from any firm to me. He isn't hyping anyone, is he? He, like the rest of us, is sick of people coming here to drum up business. I have a feeling that if Echo were here doing what you are doing, they would be less popular as well. I have read for awhile, and the reason that Gene Weismann remains untouched is that he just helps answer questions and never hypes his firm, or like you, adds "Call me or check out my website where you will be given the opportunity to pay me $1000 to hear more." I think he is voicing the opinion of many about any firm that hypes themselves the way you do, be it you or anyone who constantly talks themselves up is going to be unpopular. If it were one of your competitors hyping themselves, wouldn't their name pop up somewhere other than only in your post? That's my 2-cents, but it's worth a nickel.
OK now I have to reply to you DON BRIGHT I take offense by your post I have stayed away from all of the drama that you started earlier. This board knows me well as I post here quite frequently. In fact look at this thread I started for you http://www.elitetrader.com/vb/showthread.php?s=&threadid=2785 Look at the # of posts on the left when you see a poster. The guys who were asking you questions about your firm were from all over. Quite a few of the posters have been posting for some time. Some of the questions that were posted to you seem like they come from traders at your firm, or are traders interested in your firm. Asking questions is a natural thing to do. Someone who has a true interest in your firm would like to know the details about your firm. When you avoid their questions it raises doubts about you, and your firm. If you don't want to answer questions about your firm, DONT POST ON THIS BOARD. If you wish to contribute than respond to all the posts good and bad. Feedback is what you will get by the elitetrader posters. You can use the feedback to your benefit or to your dismay. There is a lot of negative feedback that you are receiving. I agree. You can pout and or you can listen to the complaints and grow as a human being and a firm.
Well, now this seems to be a much better approach. I am always happy to answer questions with straight forward answers, and I do so all day long (I get around 30-40 calls per day from prospective traders). The problem that I seem to run into here, is that many people seem to have an agenda of sorts, and since I do make myself available to everyone, don't use a screen name, it has become personal at times. I have taken much of what has been said and used it in our management meetings this last week to make some significant policy changes for the new year. And, as a matter of fact, I have researched the answer to a much repeated question (the idea of Echo using T-1 lines vs. satellite feeds for First Alert, as we do in some locations). As my friends who are trading at Echo tell me, they are only using T-1 lines to get to the Internet, and do not have "point to point" T-1's in use. Sometimes when I do not have an immediate answer, I prefer to research it rather than give out erroneous information. I am not pouting at all, I actually find a lot of this fun and a nice distraction from the toils of the day. Again, thanks...and no hard feelings to anyone.
I am happy you are finding this fun, Don. But you must ask yourself if others are. I am an objective observer and have no axe to grind with your or other firms, and I wish you all the best. I ask you to simply ask yourself if others are finding 'this' fun, whatever 'this' is.
The "this" is simply responding to the various elements involved, the various types and levels of traders, and community as a whole. Not a negative comment by any means. I have been "online" since 1979 (using the "Source" via a 300 baud modem) and have often found that anonymous interaction to be interesting. It has really gotten out of hand in the last few years, and I purposely stay out of "chat rooms" about trading, but this forum is interesting. J Judging by the number of personal emails and inquiries about trading, I am guessing that others are finding some value here as well.