Oh no, I agree with you. Futures are much cleaner. And I stated that I thought it was a more fair market place for the reasons you mentioned. As far as people attacking Don, I don't think they are attacking him as much as they are attacking the industry and Don is the face of that industry since he is the largest ET sponsor from that industry. Just the same way as people who hate Ben Bernancke don't really hate him, they hate the FED. Ben is just the face of the FED. Follow? I think Don knows that. Kid, you will notice all the sponsors of ET get attacked. Check out the TST threads if you don't believe me. You know why nobody attacks Echo? Because they are not a sponsor here. Behavioral science 101, nothing more.
Yeah I follow but I can assure you I personally hate Ben Bernanke lol. I am sure I am right in thinking that the majority of US citizens think the Fed is a government institution (epic fail). Best be careful what I say as we know what happened when they tried Executive Order No 11110. Over here in the UK we made the bank of england a government institution in 1946! Behavioral science 101 indeed. It fascinates me that people actually go on internet forums looking for advice on how to be a profitable trader(The majority of members are losing traders) I liken this to hiring a personal trainer who is morbidly obese, you just wouldn't would you. With that demographic ET sponsors are going to take a few knocks which make cringeworthy reading.
They take knocks alright but they also ring the cash register. Don has taken a lot of money off this site which is fair since he paid for that right. Neither Don or Bob are going hungry so don't feel sorry for them. But I do think it's fair to be critical of the sponsors here as long as people don't make it personal. I continue to ask Don questions he refuses to answer. I think that gets under people's skin. And I'm not trying to attack the guy, he is holding my licenses!!!! At the end of the day this is a public message board. So we have to take the good and the bad that comes with that. It's like a public park in the middle of a city. Beautiful fountains and pretty flowers, but also the occasional homeless bum pissing on those pretty flowers and sleeping on the benches.
Hi Don, You just gave away one of your secrets ! Most people have no idea of how to use or even know about it You find the futures squawk beneficial for your traders , that is a hot tip Most people want a easy way to make money, there are none ! some people feel entitled when it comes to trading fro some reason it takes time & hard work to develop the skillset to make a living as a trader You just shared some good info that can be invaluable to someone that takes the effort to learn how to use what is actually going on in real time , to stay on the right side of the market when trading the futures squawk is a helpful tool for traders that learn how to use it POST FROM DON.. OK, stocks and futures are the same. My point is that the futures tend to lead the SPY's (do you agree?), and that stocks tend to follow the market direction (again, do you agree?). You know me well enough to understand that I'm not pissing in the wind here, or trying to put any instrument down. If I hear Ben saying " ...Goldman is a buyer, Number One is backing down" or similar, then my stock trades tend to go up in the short term, since many futures traders (as you know very well) may hedge their positions with stocks or ETF's. Same on the reverse side, that's why Bob and I both cannot really trade without listening to the squawk box, like many of my top guys. Most new people don't even have an idea of what I'm talking about, and thus the need to teach "market mechanics" - you and I know all this automatically, but many don't. Futures are fun, and we just substitute leveraged, sector ETF's or SPY's or whatever, same result for traders. I may have a hard time determining the level of understanding that I can expect from people on the phone, or here, but since I know you and your history, I can speak plainly. All the best, Don
Thanks HitnRun, but I've actually spoken about this before here. We even had Ben speak directly at our last online workshop. Speaking of which, I'm trying to get one more workshop put together for next week, prior to our last 3 day class for 2012 (Oct 22-24). Anyone with interest in joining in, please email to donbright@brighttrading.net with "workshop" in the subject line....or PM me here, with your email address for login instructions. Thanks again, Don
Don, Sorry for the late reply, but I was out of the country for a week. The Iris pairs program doesn't trade prop. I use Takion for my prop account and I also use Takion for pairs, but Iris is a different setup than on the prop side. Thanks
I haven't contacted Bright or echo yet. So, can't post rates. I just wrote what I found in other threads. Maybe things have changed a bit since then. Currently, I m just at an exploration phase - and mind you Don - your firm is on my shortlist to join alongwith Echo. If you want to suggest any other firm that I should consider joining, please do so Don't know about echo history - so how they came from Bright. Care to share?
I meant that prop firms typically have a 95% washout rate. So, whatever is being offered in Bright or Echo etc. doesn't work. Nothing personal against you. Don - can you post your balance sheet numbers? You are considered a solid firm, I want to know the balance sheet - will help in deciding in parking cash with you. Thanks. Also, Don - a hypothetical question - If I want to cut the middlemen (like echo or Bright) and trade directly, what is required? Do I need to become a broker-dealer ? What is the minimum capital required to become a broker-dealer? Asking since in futures world, a trader can directly go to a clearing firm without a broker and clear with them. Curious, how it works in equities world at really high volume level? Thanks for your input.