pro's and con's of series 7

Discussion in 'Professional Trading' started by NY_HOOD, Mar 13, 2008.

  1. 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?
     
  2. gimp570

    gimp570

    i
     
  3. why would u want to open an account w/ either of those 2 brokers anyway ?
     
  4. i don't and never would. i was just using them as an example since they are retail.
     
  5. whats the benefit from a trader's perspective of being licensed?
     
  6. timmyz

    timmyz

    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.
     
  7. but why would a "trader" want a series 7? i can see how a broker would;he needs one, but a trader?
     
  8. I think everyone in the industry should have to take it. I learned more from studying for that test than anything I can recall.
     
  9. 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?
     
  10. 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.
     
    #10     Mar 13, 2008