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you have to be licensed and i think you get 1-10
and....circa ( street talk ) one year ago...
all money goes into Mr. Bright account as i have heard
( might not be correct )
it's very typical for smaller type outfits.
the way it works is this: if Mr. Whatever gets to find
say 50 traders he can then trade on the remaining
balance of unused equity, typically enough to
trade good size without having his own money
in the account ( or very little of his own money )
since most traders never use full margin. sort of like a bank
using your cash in your checking account just for holding
it and charging you fees on top of that. so as far as that
he is really a bright fella. nothing wrong with that as long as
you are ok with that setup.
also beware of loc type setups, a group of licensed traders
who roll their accounts into one and trade 1-10 margin.
if one guy really screws up he can wipe the rest of group out
real fast, happened before.
bilo.
ps. series 7 is not indication that you are good trader but
most traders are licenced 7,55,63.
----- Original Message -----
From: Ullrich Fischer <uf@xxxxxxxxxxxxxxxxxxx>
To: <omega-list@xxxxxxxxxx>
Sent: Monday, February 19, 2001 9:40 PM
Subject: Bright Trading, LLC
> I'm looking at trading with these folks. Has anyone had any experience
> with them? Is the Series 7 certification worth the effort?
>
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