Were the regulation questions exact match questions or did they ask about them in general?
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I took the Series 56 today
- Thread starter microjohn
- Start date
WTS and LES I believe will also have study material out by Friday from what we are being told.
The powers that BE want to do away with "Daytrading" in general and that is happening fast.
Bucket Shops, day trading firms are their primary target.
Next, is to limit access to the "Markets" by making rules, test, and more margin requirements.
OBAMA and his clowns that most of you voted for, the Banking System and the "GLOBAL MONEY KINGS" have decided to end "Day trading".
This phase out process will be ongoing until only a few "Daytraders" remain.
Read between the lines. It is happening world wide, but really hitting hard in the US.
Bucket Shops, day trading firms are their primary target.
Next, is to limit access to the "Markets" by making rules, test, and more margin requirements.
OBAMA and his clowns that most of you voted for, the Banking System and the "GLOBAL MONEY KINGS" have decided to end "Day trading".
This phase out process will be ongoing until only a few "Daytraders" remain.
Read between the lines. It is happening world wide, but really hitting hard in the US.
Quote from EMRGLOBAL:
The powers that BE want to do away with "Daytrading" in general and that is happening fast.
Bucket Shops, day trading firms are their primary target.
Next, is to limit access to the "Markets" by making rules, test, and more margin requirements.
OBAMA and his clowns that most of you voted for, the Banking System and the "GLOBAL MONEY KINGS" have decided to end "Day trading".
This phase out process will be ongoing until only a few "Daytraders" remain.
Read between the lines. It is happening world wide, but really hitting hard in the US.
agreed that is whats happening and if you adapt quick enough and firms adapt as well the new model is going to be a fund model/hedge fund. Pooled money, pooled strategies, pooled profits is the future. The individual daytrader is going by the wayside.
Quote from bears21:
agreed that is whats happening and if you adapt quick enough and firms adapt as well the new model is going to be a fund model/hedge fund. Pooled money, pooled strategies, pooled profits is the future. The individual daytrader is going by the wayside.
You won't get away from the SEC that way either. Remember Dodd-Frank? Even though hedge funds blowing up left and right had virtually no impact on the financial system in 2008 (all the drama came from highly regulated financial institutions), Dodd and Frank used the financial crises they had a huge hand in causing as a pretext to force even small hedge funds to submit to our government overlords.
No, my friend, you cannot escape government thugs.
They want to change the prop trading model.. thin out the herd. no doubt. If you have a 7 license with the cboe right Now. That may not be good enough if you don't get the Waiver. Now you may have to take the 56 test anyway. Now other exchanges are status quo with allowing their traders to trade with no issue with only the 7 at this point. Every exchange is different. The majority of day traders are with the cboe and are under the gun to stay trading. while other exchanges & their rules it's business as usual so far.
Quote from Angrycat:
You won't get away from the SEC that way either. Remember Dodd-Frank? Even though hedge funds blowing up left and right had virtually no impact on the financial system in 2008 (all the drama came from highly regulated financial institutions), Dodd and Frank used the financial crises they had a huge hand in causing as a pretext to force even small hedge funds to submit to our government overlords.
No, my friend, you cannot escape government thugs.
i am not saying you wont face regulation i am talking about the model itself will change. the game never ends remember that. the players might change but the game will go on. just take a look at what fny did went full fledged hedge fund why you ask because they can risk investors money instead of their own. that is what the gubment wants, these firms to actually take on more risk. before prop firms risk wasnt too high based on traders deposits.
Quote from scorpion:
They want to change the prop trading model.. thin out the herd. no doubt. If you have a 7 license with the cboe right Now. That may not be good enough if you don't get the Waiver. Now you may have to take the 56 test anyway. Now other exchanges are status quo with allowing their traders to trade with no issue with only the 7 at this point. Every exchange is different. The majority of day traders are with the cboe and are under the gun to stay trading. while other exchanges & their rules it's business as usual so far.
Good points! However, I hear this exam is being pushed at other exchanges as well. This will be interesting to see how it unfolds. Sources from a meeting yesterday told me there was a lot of thumb twiddling going on as there are still many questions in place that have not been answered. "they" are waiting for answers from "them" how to proceed.
good to see some others agree that the industry is going to change as we know it. not for the better. no one has all the facts to what is expected of them from the exchanges down to the traders. it's one big circle jerk going on. in the end the traders are going to take the lumps for it.