Thanks for the nice words....and, yes, my young friend Robert is an excellent contributor to the board. I really don't mind the good natured competition, but, yes, I do get a bit tired of the wasted space devoted to some agenda or another.....(or just whining and moaning). Since it's only 115 degrees today here in Vegas, I think I will bail out early (3:30 PM, PDT)....get to the pool for a bit..... Have a great day!! Don
I was reading the past posts and I would like to ask a question concerning the Series 7 that rtharp was mentioning concerning the expiration and having to take the 55. I am studying now for the Series 7 and will trade prop in 6-8 months. I'll take the test soon so that I am able to trade right away when I have saved up my capital to meet the minimum requirements. I have a sponsor, but should I go and take the 55? Could Don or rtharp kindly explain in better detail what they were talking about? Thanks.
Reminds me of the famous Winston Churchill story. A women accuses Churchill of being drunk. Churchill replies. In the morning I will be sober and you will still be ugly!
The "55" or "trader's exam" is only required of NYSE member firms (and in certain states).BT is a member of the CHX, and we don't require the 55. The "continuing education" must be taken every couple of years to keep the Series 7 active. Some states require a series 63 (like my state, for which I must study and pass within 30 days....). If you have more questions, feel free to PM me. Don
Many of the bigger firms don't even bother to become NASD members (since we are Exchange members). The NASD is a membership "club" as opposed to an exchange. Since the membership requirements are much more stringent with the Exchanges, it doesn't always make sense to join the NASD (although it is easier and cheaper). Don
Don, It is your belief that it is easier and cheaper to join the NASD than one of the cash starved regional exchanges? Then why would you join an exchange?