I'm considering going to the Bright Trading seminar in January. I've spoken to Don several times and have went over their web site. I've reached a point where I believe I can trade for a living. I've paid my dues for the last 10 years in futures and stocks, doing it on my own, and now can consistantly win. However, doing it on my own, I will be undercapitalized for many, many years until I could build up my account to the size they give their traders. What I am looking for is threads on success stories trading with Bright, and failures. The pros and cons. Trading in their office vs. Bright At Home. Can money be made consistantly in this bear market? What are the realistic monthly incomes I could expect if I am a moderately successful trader? Very successful trader? Any info would be appreciated
You say you can consistently make money, and then ask whether it can be done? Anyway, my feeling is that if you want trade remotely for Bright, you should be a decent trader first. If you can trade well already and just need the capitilization they offer, they are a good company. Personal training is important. If you need it, get it. If not, go for it. I've never traded in their office, so can't comment on the training you would get there.
Echo: I know they have their own tools and trading plan for their people. I know it can be done, but is it being done in today's stock market? (I haven't traded stocks in a few years during this bear market, and have turned my efforts towards futures spreads.) Anyhow, thanks for the input. Wishing to hear from others....
I was one of their (remote) people for a little while. They do not have a specific trading plan for their traders (though they will show you the opening orders technique). You can trade anyway you want, and thus, they have traders making money now and they have traders losing money now. That is why I said it was important to make sure you get personal training if you think you will need it in order to become profitable. It is a good company, but they never seemed to care how I was doing. Which can be a good thing or a bad thing. It depends upon what you personally need. It is possible to make money in a bear market, but in any market, it is up to you to do it. I'm not trying to sound harsh, just trying to put it like it is.
thats the reality of the industry, buddy, no one will hold your hand and walk you through how to be a millionare in a year, you have to be active and be a hustler, you have to be hungry, you have to do research, you have to explore new stategies, you have to network with/ learn from successful traders. there are no gifts on wall street. remember that. its the truth
There are some threads detailing the Bright training class day by day you can find using the "search" function...
You can now trade consistently on your own? Get a bunch of credit cards and get cash advances if you are so consistent now. The fallacy is that trading a small account consistently means the same degree of success with a large account will necessarily follow. This is similar to someone who does well in the minors, and when they get to the majors they choke. Look at the losses you take on a bad day. Then multiply that amount by whatever leverage you think you will have at a Prop Firm. Do you really think you can handle that?
I am fully aware of the mental effects of large losses. But I also know my ability to bounce back. I have matured in trading, not just in my understanding of markets and indicators, but also mentally. The difference between taking cash advances on credit cards and being able to trade somebody's account is that I don't have to earn 19.99% annually just to pay interest on borrowed money. I don't think I pay interest on the use of Bright's money (or do I)? I realize that there is a lot of negativity regarding trading in general. I know professional trading is an oddball kind of business. Everybody warned me before I started trading futures. I was naive at first and blew a few wads of cash, but that was then and this is now, and today I have a different story to say than back then. I wish I had a rich daddy to borrow some capital from. Better yet, I wish I had inherited a few million from an overseas uncle I've never met. But I wasn't born in this situation and I have to look elsewhere for funding. For all I know, you all may think I've been sucked into this business by some glossy ads I've run across in magazines and have created visions of a mansion, servants, and a blonde bimbo wife. Reality is I am looking at this as a business opportunity and nothing more, a way to make a very good living, maybe more, dependant on nothing but my own abilities. My software business I have built has given me a very good living for many years, but with the down economy, a glut of unemployed dot-com programmers, and burgeoning overseas (cheap) competition, it is getting very difficult to maintain a standard of living I am used to. I am looking at Bright Trading as a possible vehicle for getting a leg up and getting some decent leverage so that I can get things going a lot quicker than building a small account up.
I fail to understand why newbies choose firms like Bright Trading which charges you a monthly desk fee and training fees when you can easily find a firm that doesn't charge for these things and has very competitive rates and fast software platforms. Don't newbies do their homework or are they generally clueless?