Two questions: 1) If it is fully automated, why do you even need traders 2) Just how active does the Bright account have to be 3) What is the catch? If the pair trading algo is so good, why not just offer people to open account directly for that and simply make it a $10k or even $5k contribution?
If there is no downside risk at all... why offer any upside reward? Why wouldn't the blackjack player sitting next to me just bet his own money and keep all of his profits... instead of sharing it with me? Why wouldn't your brother put his money into the automated trade instead of covering up to $10k losses for others? I'm missing something.
OK, that makes sense, if we are getting better rates doing whatever we are doing elsewhere, just open the second account with Bright, contributing the min. $25k (?)to open, the annual $500 reg. fees, monthly $200 remote desk fee (waived when you trade the 200k per month?), correct? thanks for the info, dude and good luck to answer above, i am thinking they are counting on the traders being successful at it, which i think they would not do it otherwise and then they will be getting a steady stream of income from the commish and haircut generated when the traders are doing the same technique with their own accounts, which would be worth it to both the trader and the brights. maybe so, maybe not, but that is my take on it.
No "free lunch" - to make this work properly, each trader will do his or her own homework, develop their own pairs (with help from our gigantic "spread history" data base)... and then determine where "they" want to enter/exit, profit targets etc. Hard to believe, but those who work harder seem to make more money, LOL. As far as their normal account, not much..you'll likely want to trade enough to make some money, and more as you get better within JVC. No "minimums" or anything. Don
Not sure about any "small print" (since I edited the agreements).. You keep your "normal" account, trade as much or as little as you like. Yes, pay the basic data feeds etc. desk fee from there. Most are trading better in their "normal" accounts after joining it seems as well. All the best, Don
How do you figure this? Your upside is 50% while your downside is 100%. At -9k don will just limit your position size at -9.8k he will tell you to f.... off or add more funds to the account. Most people will probably remain at 0. while paying retail fees aka very high (as bright trading isn't a prop shop) to bright brothers. Pretty risk free for bright brothers if that's what you meant? The 50k guys don keeps talking about are either fake, ( as don will never release more info) or are just an oddity. Hope that helps. If it looks too good it probably is, no matter how good at marketing someone is.
yes killer app for day trading shop vs shops doing overnight trading, I guess you don't understand what killer app is. I see your point with the zero money up. I guess I would have to read the contract. It comes from your other account that has min 25k in. All i know don bright isn't an idiot in fact he is great business person. And this deal so far dosn't make sense. If anyone that is in the program would provide the copy of the contract we could settle this issue.
Amazing. Bright is offering a "true prop" account for all their traders with a 50% payout, strategy training, and automation and the fleas on this site find find something to complain about. The truth is this deal is a no brainer for many traders. BTW guys everyone benifits when the bar is raised.
DON, 1.) Are 100% of the losses are absorbed by your brother? 2.) Do you have to be a bright client to trade this? 3.) Is there any upfront cost to gain access? Thanks Don and pls let me know.
Again, this is available to all Bright Traders (60 or 90 day wait for brand new traders)...and is just a way to help make more money for those doing well, and to help "shore up" those who may be struggling...and, as mentioned, they seem to do better in their "normal" accounts after joining. Don