What's cheaper than QUEST Capital for buying your Series7?

Discussion in 'Professional Trading' started by momotrdr, Jun 7, 2002.

  1. I'm pretty sure there is not empolyment requirement except for NYSE menber firms.
     
    #21     Jun 10, 2002
  2. ddlee

    ddlee

    the 55 looks like it is easy after having passed the 7. Would someone who has passed both agree with that statement
     
    #22     Jun 10, 2002
  3. true.........but it can only be expired for a small amount of time. It is grandfathered in same with my firm
    Robert
     
    #23     Jun 10, 2002
  4. ddlee, your explanation is not clear. Can you please expand on that a little bit? If you get increased margin, isn't that because you are now affiliated with a prop firm or similar, regardless of the fact you trade from home?

    Or are you a "customer" but because of your serie 7 you are being granted increased leverage?



    Thanks

    Elvis
     
    #24     Jun 10, 2002
  5. ddlee

    ddlee

    To Elvis

    The latter of your statements. If I had the capital I would just trade thru them (generic) from home and get the 10:1. This reason alone is worth taking the test in my eyes. Commissions higher than some but for a couple of intra-day swing trades or hopefully couple of days it is a good thing. I blew myself up with options so I have to prop for a while personally.
     
    #25     Jun 10, 2002
  6. Hey thanks ddlee-

    this was the info I was looking for. Could you priv e-mail me those "other" firms names? As I would like to attempt to neg.
    on the price with QUEST. 1K just sounds too high.

    for the price of my monthly cable bill I can maintain my S7.
    thats nice.

    can't wait to take it.

    grazie mille-


    momo
     
    #26     Jun 10, 2002
  7. ddlee

    ddlee

    momotrdr

    I think you misunderstood me. I did go thru quest. I paid 930.00 I believe in April of 02, they said it was going up to, which according to you it did, I still pay 39.00 to them to maintain, if you still need something just PM me
     
    #27     Jun 10, 2002
  8. qazmax

    qazmax

    The 55 is short but do not be fooled. It requires a good amount of studying, relative to the number of pages.

    I have the 7,63, 55, 3, 4, 9 and taking the 10 in weeks.

    7 - a lot of material... aced the options and flubbed the munis...did fine.

    63 - studied 2 days and passed... a lot of common sense, tiny amount of material

    55 - studied 2 days and failed miserably, then studied like crazy 2nd time, have to memorize a bunch of useless crap. Small book, but tough test.

    3 - basic futures stuff nothing tricky... study if not familiar

    4 & 9 - really a joke, if good at options... took both on the same day passed with a couple of weeks of studying... fair amount of material for both.



    10 - is horrible material... cannot see anything applicable to reality. I hate studying and would appreciate any advice for taking it...?



    :)
     
    #28     Jun 11, 2002
  9. Turlo

    Turlo

    I got a 89 on the series 7 Studied 3 1/2 weeks. Then I took the 55 exam and got something like a 71. I under estimated it after taking the series 7. Study just as hard as you did for the 7 there is less material but you need to memorize all of it.........

    good luck:cool:
     
    #29     Jun 11, 2002
  10. No ddlee,

    I completely understood you.

    However, I was referring to this statement you made, specifically:

    >>"The other cheaper sponsership places I heard of. . . . "<<

    Who are these other cheaper sponsors??


    One more thing. In reference to your statement:

    >>"By getting the seven on my own I have two prop co.s that I am actively interviewing with."<<

    Not sure where you are located. However, here in San Francisco I've talked to ALL the Prop shoppes. Interviewed at most of them. NONE of them required me to have the Series 7, prior to or in order for me to be interviewed or for that matter hired. ALL of them were quite willing to bring me on and sponsor me for the Series 7, 55, 63. .etc..

    Out here if you have 10 to 25K and want to trade at a prop shoppe. . . well quite frankly that is all the experience you need!

    However, if you are applying to ANY I-Bank or Investment Ser. Co. out here in the Bay Area the converse is true. They won't even consider you for a *ucking trader's assistant position without at least a Series 7!

    How's that for Irony..

    peace-


    momo
     
    #30     Jun 11, 2002