When Are You Pro?

ler · Sep 21, 2002

What event is it that actually must happen before you are considered "pro"?

Submitting application paperwork to pro firm?

Pro firm sending your stuff to exchange?

Passing Series 7 exam?

Other?

I'd like to know when I should stop checking the "I am not a professional trader" box on applications.
(Looking to avoid getting the cell between Kozlowski and Martha.)

calibertrader · Sep 21, 2002

If you work for any firm that engages in any type of service (i.e. trading, research, mutual fund, investment banking, etc...) you would be considered a professional.

But who wants to be a professional, it only means your fee's are higher, I know. You're right though, you don't want to get into trouble.

easyrider · Sep 21, 2002

For regulatory purposes Im not sure but imo you are not a pro until you make your living at it.

chasinfla · Sep 21, 2002

I'd guess if you have an active license.

ddefina · Sep 21, 2002

"Pro" fession

proÂ·fesÂ·sion Pronunciation Key (pr-fshn)
n.

An occupation or career: âOne of the highest compliments a child can pay a parent is to choose his or her professionâ (Joan Nathan).
An occupation, such as law, medicine, or engineering, that requires considerable training and specialized study.
The body of qualified persons in an occupation or field: members of the teaching profession.

dotslashfuture · Sep 21, 2002

I think if you have an active securities license and you are employed by an investment related firm you are a pro. The prop firm people are sort of a gray area, since in some ways they are pros and in some ways they are just trading for themselves.

WDGann · Sep 21, 2002

Originally posted by ddefina
"Pro" fession

proÂ·fesÂ·sion Pronunciation Key (pr-fshn)
n.

An occupation, such as law, medicine, or engineering, that requires considerable training and specialized study.

I like the definition above.

Dustin · Sep 21, 2002

Originally posted by easyrider
For regulatory purposes Im not sure but imo you are not a pro until you make your living at it.

Ditto.

You're not a pro until you live on the income from trading...whether it's retail or prop.

daniel_m · Sep 22, 2002

Originally posted by ler
What event is it that actually must happen before you are considered "pro"?

just hang around ET long enough...you'll probably feel convinced to go pro sooner or later...

ler · Sep 22, 2002

just hang around ET long enough...you'll probably feel convinced to go pro sooner or later...

Hmmm, maybe. I was looking for a legal answer to the question. Most of the replies have been philosophical or from Webster's.