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My understanding is that the desk fee is pro-rated for a partial or full elimination of the desk fee based on the monthly volume you do.

Never mind Mav, I now understand that CBOE is one of these exchanges though a list of few firms that give more than 10-1 would be nice.

So i.e. there are exchanges out there that don't require a Series 7 to be considered a "professional" and as long as you and your firm are members of one of these exchanges then you are deemed a "proffessional" which means the 4-1 limitation on leverage will not apply to you and the firm can...

Thanks. This is very intresting...this is useful information because I have some friends that are looking for that kind of a setup but didnt think it actually existed... please check your PM. :)

Well being that you are the owner of a firm...I suppose you would know. Maybe I dont fully understand this whole thing...I can admit if Im wrong...I dont have any ego to protect and Im always willing to listen and learn... . ...You mean to tell that if I traded equities at your firm which...

I dont see what's so funny... Try getting 20-1 for "EQUITY" trading at a retail firm and then tell me that the license is not about extra leverage. Regardless of who actually requires it... Without the license, I'm forced to take my chances with some unregistered firm like the Tucos of the...

You dont need the 25K with a Series 7. I've been trying to convince a friend of mine to go the the Series 7 route exactly for this reason. He keeps complaining about having to raise 30k (5k breathing room otherwise the first drawdown below 25K will essentially cripple your account and limit...

Getting the Series 7 license is mostly about LEVERAGE in my book; other than the regulatory protection afforded to licensed traders I dont see any other reason to get one. You could fund a retail account with the required 25K but then you are limited to a maximum of 4 to 1 buying power. In...

Dont quote me on the accuracy of this but I think the way it works is that....(Someone else might chime in and confirm it...Don?) Once you have the series 7 ...you then qualify to become whats called a Class B member of the firm and such designation means you are essentially a partner...

Free Smart 7 trial here... http://www.passperfect.com/ Study was roughly 180-200 hours over a 3 month time period. Use at least 2 sources for your information because I found that even though Smart 7 was good prep...it still was not as comprehensive and intense as the Dearborn CD and...

In regards to the Series 7 Exam, a friend of mine who has an MBA and worked as a Smith Barney financial analyst said it was the hardest test she has ever taken. My brother in law, who has a Harvard MBA, said it was tough but nothing you can’t pass if you know the material. Despite this...

If I do lend then I always lend amounts I can afford to lose as a kind of litmus or patch test. 1)If the person didn't pay you at all. 2)Didn't pay you on time without notice. 3)Didn't pay you without undue aggravation, chasing and hunting them down. AND... This person actually had...

Question for seasoned traders: How much volume do you have to trade in the QQQQ before liquidity starts to become a problem and you need to move into bigger markets? Thanks in advance for the reply.

My apologies if I misquoted you in any way. To your credit, you did acknowledge that one does not need an edge to make money...though Im 100% certain that you said an edge can't be learned and it therefore implies that skill can never be an edge.

With all due respect to my trading bros Mav and Purple... I cant believe that I just read 25 pages of this circular nonsense. :) I sum it up as traders trying to protect their delicate egos. LOL This whole argument could have been avoided if each person simply took the time to acknowledge...

I'll be trying my hand at a prop firm sometime in the summer and all I can say is Win or lose... I wont be blaming anyone but myself. Know the company, know the commissions and how their reputation, policies and ranking is relative to other firms. Learn what expected of you before you join...

If it were easy, not only would everybody be doing it but it would no longer pose enough of a challenge to intrest me. Though that in itself poses a different set of questions...for if everyone is winning then whos doing the losing? isn't it a zero sum game to some degree? somebody has to lose...

I think I would trade a mini or micro account with forex and try to build it up before moving on to equities. You may decide to stay with forex. In any case, it will be more of learning experience than any "real" money venture but at least you may be making some money as you learn.

If profits are one measure of smarts in trading then I think the smartest among us traders are the ones that are too busy making money to be debating each other about how smart we are...so where does that leave me? :confused: I have to get out of this thread now! :D

I think one who who spends their time thinking how intelligent he or she is and is eager to tell others is counter-productive self serving egotism and could even be interpreted as lacking in self esteem. On the other hand, using your intelligence to develop and/or backtest a trading...