U4 and "Other Business"

Discussion in 'Prop Firms' started by caementarius, Apr 24, 2008.

  1. Hi Folks,

    Does being a regular employee at a non-financial firm (let's say for example a guy working in IT at a University) preclude getting Series 7?

    I've worked out a deal where I am off from 9:30 - 10:30 in the mornings and I'd like to trade prop during that time period with the intention of trading full-time in the future.

    Of course I'll be honest on the U4 regardless, I'm just wondering if it's a deal breaker.
  2. each firm is different...talk to your compliance examiner
  3. No, it won't be a problem.

    However, aiming to only trade 9:30-10:30 is a BAD idea. I doubt you will listen, but that is a silly arrangement. You will get stuck in trades and take on trades which you should not. You will be coming to your job late because of this.
  4. Always willing to listen..

    What are your thoughts on Opening Only strategies?
  5. Don Bright will chime about the amazing powers of Opening Only, while pimping his firm. Just give it a little time.
    Personally, I'm surprised OOs are still around.

    I guess it's doable, if you close out your shortly after market open.

    But if you think you will be able to sit down, trade from 9:30-10:30 and then get up and leave, you're very mistaken.
  6. All I can say is that we have many traders who make most of their money trading the openings, in various incarnations and levels.

    As far as U4 goes, simple disclosure is all that is asked.

    All the best,

    Don (the Pimp, LOL) :p