lol . yeah only 400 pages?
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Series 57
- Thread starter Victory5
- Start date
lol . yeah only 400 pages?
You made The Hall of Fame for Bull Shit/Lie on ET and that's saying a lot.You can always chose to study more but the goal is to pass. If you are swamped with family / work and you are older then sure, you might want to go slow. When I converted to a BD I had 2 weeks to take the 24 and everyone else had one weekend to study and pass the 7 which is pretty equivalent to the 57. 100% of about 20 employees passed with the weekend study. Quite doable for a reasonably smart, young kid recently out of college who has few external responsibilities.
Passing these tests has nothing to do with experience. In fact, experience might well hurt you because sometimes the questions and answers defy common sense.
Well said. CheersYou made The Hall of Fame for Bull Shit/Lie on ET and that's saying a lot.
First and foremost, I am on your side so don't take the next sentence personal, but do take it seriously.Hi all.
Got accepted into a fairly reputable prop firm in Chicago out of undergrad and I was poking around online and saw that the Series 57 (previously 56?) seemed like it was mandatory for traders. The firm has told us there will be an introductory training program for the first few months we are at the firm, can I expect that we will be asked to get this certification as well or is it optional.
Pardon my ignorance, I was unable to find anything definite online.
Thanks
"Fairly reputable" you realize is an oxymoron statement. (you can google the word)
If you are going to prop trade you are required "by law" to have a Series 57 license, "before" you even execute your very first live trade,..period, period, period. You can easily google the official US government website(s) about this.
Now I am sure you're new employer will wrap this cost (yes there is a fee, plus fingerprint, credit, and federal background check fees, plus a testing center fee) into the training cost they will want you to pay them, as you also have to have a properly registered firm, which is your (fairly reputable) prop firm sponsor you, to even be allowed to take the exam.
Prop firms run the gamut from fairly good to fairly illegal. I used to prop trade equities myself with several different firms. Today, I am still a full-time trader as my sole income.
Statistically, for some it works, for most it does not. Good Luck, and feel free to stay in touch.
Kind regards,
HG
Great response. Being in Chicago, this "fairly reputable" firm sounds like Great Point Capital/Tower Hill Trading. The 57 is required by law. If you aren't taking it then move on. That place is a chop shop for new aspiring traders as yourself.
First and foremost, I am on your side so don't take the next sentence personal, but do take it seriously.
"Fairly reputable" you realize is an oxymoron statement. (you can google the word)
If you are going to prop trade you are required "by law" to have a Series 57 license, "before" you even execute your very first live trade,..period, period, period. You can easily google the official US government website(s) about this.
Now I am sure you're new employer will wrap this cost (yes there is a fee, plus fingerprint, credit, and federal background check fees, plus a testing center fee) into the training cost they will want you to pay them, as you also have to have a properly registered firm, which is your (fairly reputable) prop firm sponsor you, to even be allowed to take the exam.
Prop firms run the gamut from fairly good to fairly illegal. I used to prop trade equities myself with several different firms. Today, I am still a full-time trader as my sole income.
Statistically, for some it works, for most it does not. Good Luck, and feel free to stay in touch.
Kind regards,
HG