Series 56 - LOL Thread

Discussion in 'Prop Firms' started by ksmetana, Aug 17, 2011.

  1. So I got a series 56 manual from my broker. LOLOLOL

    400 pages of crap I'll never need to know? Are you kidding me?

    This is going to take a grip of time to read and memorize. What a joke. I am not looking forward to this BS.

    They better extend the deadline, if I fail my first exam I'm screwed, you can only take the test every 30 days...

    The worst thing is, there is no REAL study guide. I know that in a year the study guides will be SOOOO much easier to go through.

    Whatever, I'll see what the practice test is like.
  2. Suck it up..... I would take every S exam known to man if they would let me just because I love the industry as a whole and would want to be as knowledgable as I can for my profession.
    Whether It was relevant to my position or not.

    But thats me
  3. Maverick74


    Series 56 - Proprietary Trader
    The Series 56 examination is required for proprietary traders in options and equities.
    Books Self Study Books $150

    The Self Study program covers:

    Equity Securities
    Options Strategies
    Trading Markets
    Trading Practices
    Trading Systems

    Four simulated Final Exams with detailed explanations complete the program.

    (over 400 pages, with over 600 simulated examination questions with detailed explanations)

    Note that this product will not ship until after August 3rd, but you can pre-order today.
  4. Yeah I already have a 400 page study guide and practice tests. But I only have 1 month to read the thing... And only one chance to pass the test.

    I'll probably pass it, it's just such a waste of my time
  5. Dustin


    These tests have nothing to do with trading for a living, but if you must go ahead and buy all the study materials and spend a year of your life learning back office stuff that you will never need.

    Fwiw I took/passed the 7, 63 & 55 and they were a complete waste of my time.
    sandmann likes this.
  6. EPrado


    Get the book offered by The CBOE. Is 150 or so pages and very straightforwards. Honestly...if you spend a week going through it and take the practice tests (online...comes with book) you should be fine. I started to prepare but then got a waiver. The material was not that hard at all.

    As far as the 30 day thing..if you fail you can't open a window for 30 depending on where you live/how many test centers around, it will be a bit longer than 30 days. Once the window is open you can then schedule the test.
  7. I completely agree they are a waste of time but it helps give the industry and it's menbers credibility (god knows it needs it) just like any other professional industry with their licenses.

    Does it mean you're going to be a successful trader.. no. But by having the 7, 6 and 53 it states you are a professional in the industry. Something to be proud of. Especially with the ever elusive 7.
  8. does the license mean you won't be cheating and bending the rules anymore?
  9. Well they need to extend the deadline, I don't have time for this crap. LOL @ credibility , we don't have clients, who cares.
  10. you're the exact type of sheeple the SEC and FINRA loves.
    #10     Aug 21, 2011
    sandmann likes this.