Series 7?

series 7 is a way to make some extra money.

series 7 is relic of the old system when commissions were fixed and anyone wanting to work in the industry needed 'licensing'. now the markets are fixed[

QUOTE]Quote from Tracy McGreedy:

I never understood why anyone requires a series 7 to trade prop. I have friends at SAC and Millenium and they don't require them. Feels like it's just way to handcuff you. [/QUOTE]
 
you only need grade 10 graduation to trade stocks with high IQ and don't get fooled robbed and addicted trading in the street.




Quote from Loren1711:

So I guess the Series 7 is out of the question.

I am in high school right now, and aside from a miracle I would never get into an ivy league school. Basically the schools I am considering are University of Colorado Leeds School of Business, which according to just about everyone I have talked to is a good school, but its not ranked nationally. (I get instate tuition here and its an awesome campus) And then University of Indiana Kelley School of Business. Its out of state, so tuition is comparable to ivy league (not quite but close) but I would probably get in, and its ranked 3 on undergrad business schools.

Obviously going to an ivy league school would be great, but aside from if I cure cancer in the next year, I most likely won't have a chance.

So since I can't take a series 7, what are some other ideas as to what I can do to demonstrate my true passion to colleges? Any ideas?
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Hey Loren,

If your 17/18 and are into the stock market already good for you! Unfortunately you cannot take the Series 7 because you need to work at a NASD/FINRA licensed firm for 120 days. I think your best chance now is to apply to the best academic schools and schedule interviews. At these interviews, you will have to advertise yourself and your knowledge about the market. Perhaps you can bring your account summary and discuss it with the person.

Another option you have is to write an essay. Most schools require you to write one. Therefore, you should write about stocks. For example, you want to go to such and such school because your a stock fanatic and someone has recommended that school because their departments are so strong. Also, you can write how the stock market has changed your life, bla bla bla. Make it interesting and connect it to yourself obviously.

Another thing I should tell you is that if you truly want to work with stocks or investments, just work at it. I am a college senior attending a liberal arts college. It is not a business school. I major in Political Science and minor in International Relations. These subjects are not directly connected to stocks. My GPA is only a 3.0, so it is not great. Nevertheless, I intern at Merrill Lynch this semester. I work with the Director, who overlooks like 5 other branches. So it is serious stuff. I also interned at a broker-dealer before. I got there by proving to them how much I know and am interested in investing. I do all my investing stuff as a hobby in my spare time!

Anyway, my point is that I got positions at Investment firms w/o even studying business or economics. Also, I did not get hired based on personal connections. I didn't own stocks until I was a sophomore in college. At that time I became a stock fanatic. And within two years, I am interning at the top firms. Anything is possible.

So when you are applying to school, use the essays and interviews to show your interest in the stock market. If you know what you are talking about they should definetly be impressed. If you do not get into the schools you wanted to attend most, just be patient. Keep investing! The more you do so, the more you learn. It doesn't really matter what school you go to. You will be surprised how many brokers and floor traders have gone to crappy schools. It helps a lot to be from an ivy, but there is more to it. From my experience the only difference with the IVY schools is that firms go to them to recruit potential workers. If you go to a non-IVY then you yourself have to send your resume out to these firms - they wont be knocking on your door.

BTW maybe you can start an investing club at your H.S. and put it on your resume?

Hope that helps!
 
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