Who knows the answer?...... I have a strong desire to take the series 7 exam. I am self taught on Farrell, Elder, Pring, Neiderhoffer, and Soros. I want to round out my studies with the series 7. I have been training for years but, have no desire to work for a firm. I just like to trade in my basement. I can't get sponsored. It seems like there are some questionable sites on the internet that offer sponsorship. Do they hire you for one day or what? I'm sure some of you folks have been through this same thing. What should I do? Thanks
Series 7 has nothing worthwhile to do with actually trading. If you're not gonna go prop, then you have no reason to take the test. And you can't take it without being sponsored, as you seem to be aware.
Why would you want take the series 7 if you have no desire to trade at a prob firm. I cant see any advantages.
Why take it? I get tired of thinking like a trader. I want to be able to think like a stockbroker when I want to. Besides the S7 has a ton of cool stuff in it. Perhaps some of it could be relevent to traders. what is the outcome if one were to schedule the test at prometric and just go in and take it. I've taken a bunch of Microsoft Exams there. It doesn't seem like it should be such a big deal. Does Prometric stop you at the door if you have no sponsor? I know I will never work for a firm so, What can happen? At what point does it become a violation. I am looking for a workaround. Let's hear from someone who paid the $1043 to be sponsored by AnonTrading. Did it come back to haunt you? thanks.
From the site that you are referencing above: Quote (their all-caps, not mine): "Will we sponsor you for the exam? ABSOLUTELY NOT, and if you hear about a way to get sponsored without being hiredâyou are about to get RIPPED OFF!" This info is not quite correct. In WA--where I reside--the state (via the Securities Division) will sponsor you for the exam if you request it. I have the paperwork right in front of me and that's how I'm doing it. I understand that this option may also be available in a couple more States (I don't know which). I don't know if this is widely known. I was lucky to have a conversation with a local gentleman who is quite knowledgeable about the business and who pointed me to the right path. I would have got sponsorship anyway, but going with the State leaves all my options open and I like that. Elvis
This is the type of info I am looking for. Does anyone know: Which states sponsor? Is it required that the applicant live in that state? Let's also hear from some violators!!! A Scarlet S7 to be worn upon ones garment at all times.....
Why would you want to think like a stockbroker? unless you want to start phoning in your orders! The Series 7 has nothing to do with trading. The Technical analysis section is small. Most of it covers Options and Municipal Securities. It seems you want the prestige of having a stock broker license, rather than telling people you trade from the basement. If you have the $25,000 to day trade, you do not need the S7.
It looks like a trend is forming..... it would appear that traders regard the S7 with skepicism and a just bit of contempt. ( perhaps for the establishment or "the man") Almost a "We don't need no book learnin' type of sentiment. I've heard on the internet that "The material covered in the series 7 is irrelevent to the day trader." Is this true?
I was remiss in not mentioning that I am taking the S7 because I need it. I am pretty much decided on the pro firm I'll be going with, sponsorship notwithstanding. You should carefully consider what some of the other posters to this thread are saying about the usefulness of the S7 as a trader's educational tool. They made some very good points. This is of course unless you want to become the George Soros of the munis