pro's and con's of series 7

what are the pro's and cons of becoming licensed? if you are licensed,you cannot open a retail account with fidelity or e-trade?

 

i

 

why would u want to open an account w/ either of those 2 brokers anyway ?

 

i don't and never would. i was just using them as an example since they are retail.

 

whats the benefit from a trader's perspective of being licensed?

 

the series 7 is a complete waste of time. the securities industry created the series 7 to make money and generate the illusion of regulation.

 

but why would a "trader" want a series 7? i can see how a broker would;he needs one, but a trader?

 

I think everyone in the industry should have to take it. I learned more from studying for that test than anything I can recall.

 

and tell me how that exam made you a better trader ? what part of the exam covers how the specialist is selling more than he is showing?

 

Its a general securities test, it doesn't claim to teach you to trade. To clarify -- starting off, I think everyone should take it. So while it does not teach you about head fakes, it teaches you what a specialist is and what they do.