What we regard with skepticism and contempt is the PDT rule enacted on September 28th 2001. This was a huge blow to the small-time up and coming traders. This is why you see a huge interest in people trying to get the S7. By the way, I edited your quote using the CHECK SPELLING button located on the bottom!
Why don't you go to your local library and look to see if they have Series 7 study books? They may be a few years old, but you could look through there and see what kind of information is on the test. Plus you can study the material for free (picking and choosing what you want to learn), skip the license, and you won't have to pay $200/mo in exchange fees for the next few years.
This is a good point. Once you have that license you are going to get nailed with high (professional) exchange fees. What is the point if you are not going to trade with a prop firm?
pay $200 and get all quotes/data with a prop firm. or pay $400 on your own. do the math, the prop firms win again!!!!!!!!
1. Series 7 does nothing for your trading skills. 2. Series 7 is for salesmen, not traders. 3. It is required (even at my firm). 4. I passed it, no big deal...so has every "salesbroker' in the country....how well do they trade....(rhetorical question, obviously they know nothing about trading). Save your time and money....do what Bryan says. Don
sorosisgod, even if you got it, you should be aware that the series 7 will expire in 2 years if you are not employed by a broker/dealer at any point during that time.
I understand your desire to learn new things. I think you know the exam is not very relevant to trading. So, take the practice exams in the study guide that comes on diskette. Those exams are HARDER than the actual test.
Don, arbtrader, and thetraderprofit are all right. The series 7 is a completely useless test as it pertains to trading. It is a waste of time and money. Ax
Arbtrader has a point. S7 WILL EXPIRE IN 2 YEARS. Unless you start working with a prop firm. I also have a question. After you work for a prop firm and you quit after a while do you still get 2 years time before your license expires. thanks for any info.