IYO should we have to pass the 7 to be able to get 20:1?

Discussion in 'Prop Firms' started by ProgrammerGuy, May 2, 2008.

  1. Do you think that it's fair that they make us pass this damn test in order to get 20:1 leverage or more?

  2. I am getting ready to take it myself, I found a good book:

    "Pass The 7" by Robert Walker

    Firstbooks.com also has audio / and pdf based products that you can purchase and download, and they have been useful so far.

    They all avoid the BS and jargon with concrete, useful examples.

    I don't think its a bad thing now that I have the right resource to prepare for it.
  3. I am in the middle of this and its the biggest unnecessary piece of crap i have ever seen...

    They should have a Prop Test or something for those moving in that direction and not in the direction of a true broker dealer...

    The Series 7 for traders who are never going to have broker clients is ridiculous.

    Major major bucks... for FINRA...
  4. Surdo


    I personally think the test is a waste of time, however, keep in mind you are trading OPM to get higher than 4:1 retail intraday BP.

    Study and take it, it is not like passing the BAR exam!

    el surdo
  5. don't you have to pass this again every 2 years?
  6. Surdo


    As long as you have it hung at a FINRA BD, all you do is take continuing education. You better get the study guide now!

    el surdo needs a drink
  7. i'm currently studying a guide 2 years old... it still has the NASD stuff, has much changed that would make it a must to buy a new one?
  8. Diego11


    Put more info on that book. Is it worh it..

    I like practicing been averaging higher

    post more info on study techninques
  9. Surdo


    I have a 1995 STC book, wanna borrow it?
  10. No, after 2 years you take a test you "can't" fail as continuing ed. They just keep asking the same question until you get them right. Then 3 years. I have to do mine in a few weeks...not a big deal... as with all these darn tests.

    #10     May 5, 2008