series 7

Originally posted by flymarbles

But to clarify my question, I was wondering if it is a better idea to buy the study materials on my own, and study for the test at home. Or is it better to find a job with a broker and take it through them, or how ever its done...( the general process of going about taking the series 7 is unfamiliar to me so my thinking is not clear as to what the options are, or what the advantages/disadvantages of those options are either.
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If you want to go to work for a firm,go to them first. They'll probably supply you with study materials for free or a reasonable charge. You will be under pressure to prepare for the exam in a timely manner,however.

If it were me, I'd buy the series 7 manual or check out some of these links on this thread and study at home first. Most manuals come with several practice exams. After I pass the practice exams,then I'd go to the firm.

As far as taking the exam goes,it's no big deal. You sit in a room in front of a computer that has a touch screen. After selecting A,B,C or D as your answer,the computer pops-up the next question, and so on. I don't remember exactly,but I think you have to get at least 70 percent(might have been 80). If you fail, I think you have to wait 60 days or so to take it again.


Don't take the test to lightly. People will tell you it's a no-brainer,etc. Alot of people from my group didn't pass. Hope this helps. Good Luck!
 
Originally posted by Breakout


If it were me, I'd buy the series 7 manual or check out some of these links on this thread and study at home first. Most manuals come with several practice exams. After I pass the practice exams,then I'd go to the firm.

Let's say you had retaliatively very little experience, but have goals to become a professional trader. After you pass the series 7, would you go and work for a firm just so you could be around the "business" and glean experience. Or would you go directly to a prop firm e.g. echo and take it from there, possibly seeking out a mentor:confused:
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Originally posted by flymarbles
Originally posted by Breakout


If it were me, I'd buy the series 7 manual or check out some of these links on this thread and study at home first. Most manuals come with several practice exams. After I pass the practice exams,then I'd go to the firm.

Let's say you had retaliatively very little experience, but have goals to become a professional trader. After you pass the series 7, would you go and work for a firm just so you could be around the "business" and glean experience. Or would you go directly to a prop firm e.g. echo and take it from there, possibly seeking out a mentor:confused:
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The best option would be to find a mentor. Unfortunately,they can be very expensive, and some are fakes. About 8 years ago I paid $2000 for a 5 day course with George Lane (The Stochastics Man) There was just 3 of us in the class. He won't take more than 4 at a time,so you get personal attention. I don't regret it. The course opened my eyes to what trading really was. And,I made my tuition and traveling expenses on a few trades using his methods.


I don't use his methods anymore, because I,ve developed my own style,but like I said...it was an eye opener. You might start a thread..."Any good Mentors" or something like that and get some responses from the other guys. Hope this helps
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When my brother joined the firm he went to ebay and bought used books and a CD to help him test...made a 95 on the exam and saved some bucks too compared with new!

He later told me he sold them back on ebay for what he paid!

Just a little tip from the boys at ECHOtrade...

Good Luck!
 
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