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Don Bright has been writing a column in Technical Analysis of Stocks and
Commodities (TASC) for the last several months. I have not read them very
closely, however, I have picked up that a Series 7 will allow you to trade
as a "professional" with his firm (and presumably others) rather than as a
"retail" trader. Mr. Bright trumpets this advantage in terms of lower
transaction costs and lower cost of money. It could be worth investigating.
Old articles can be found on the TASC web site if you are not a
subscriber. Bright Trading also advertizes in TASC and probably has a web
site. I have no affiliation with Bright Trading.
Dan
>From: JC <jesuschrist88@xxxxxxxxx>
>Reply-To: realtraders@xxxxxxxxxxxxxxx
>To: realtraders@xxxxxxxxxxxxxxx
>Subject: Re: [RT] Request for educational broker info
>Date: Fri, 15 Mar 2002 20:16:17 -0800 (PST)
>
>Hello,
>
>First, thank you to Bob, Norman, and all others who
>took the time to answer my inquiry.
>
>Sales isn't exactly what I have in mind for the
>future. While I see your point that this would be a
>major feature of an average broker position, it's not
>the path I plan to follow. Certainly it could be
>something I could fall back on, but my interests are
>more entrepreneurial. I don't want to work for someone
>else, which is what lead me towards trading in the
>first place. I would have moral problems with selling
>something I didn't believe was good.
>
>My reason for pursuing the broker's license is that I
>want to know the rules. In my learnings I've
>discovered regulations I would never have guessed and
>hope that the series 7 studying will add valuable
>knowledge to my education. Additionally, I've heard
>that having a broker license opens doors- I could get
>better information, tools and access. All of this
>would help my trading so that at some point in the
>future I can quit my corporate job and own my life
>once more.
>
>Again, thank you all for the responses I received as
>well as those who share their knowledge here
>regularly. One day I hope to repay that with similar
>contributions...when I have something to contribute
>:-)
>
>Brian
>
>--- BobsKC <bobskc@xxxxxxxxxxxx> wrote:
> > The first thing might be to realize what a stock
> > broker is .... he/she is a
> > salesperson of positions in the markets and his/her
> > knowledge of the
> > markets or individual investment instruments and
> > equities is relegated to
> > the status of "unimportant" due to the shortage of
> > left over time from
> > his/her selling activities. Brokerages have
> > "experts" to tell you what to
> > hawk and what to dump and you make your money
> > shoveling that advice into
> > the open mouths of customers. (I am not intimating
> > that such advice is
> > often, or always bad, but I would suggest that it is
> > often motivated by
> > self interest of the trading firm and what an
> > individual broker might think
> > is a good investment is of little interest to the
> > firm.
> >
> > Anyway, I wish you well with your new endeavor. I
> > have many friends who
> > are brokers and most do quite well for themselves
> > and their families. Hone
> > your salesmanship skills..
> >
> > All best,
> >
> > Bob
> >
> >
> >
> > At 01:21 AM 3/13/2002 -0800, you wrote:
> > >Hello and greetings to all,
> > >
> > >I have been lurking on this list for over a year. I
> > >very much appreciate the generous sharing of many
> > here
> > >and thank you all for your contributions to my
> > >ever-continuing education.
> > >
> > >I have a friend who recently purchased a brokerage
> > >firm. Knowing of my long-standing interest in
> > trading,
> > >he has agreed to provide me with the necessary
> > >sponsorship to get my broker's license. Generally
> > >speaking I'm a quick study and good with tests so I
> > >don't anticipate too much difficulty. Still, I have
> > >much to learn.
> > >
> > >I would appreciate any information on what books or
> > >material I will need to study in order to pass the
> > >broker test. I have found what appear to be
> > >quasi-textbooks on the net, but am not sure they're
> > >relevant to the certification. For that matter, I'm
> > >not even too sure of the whole process. Anyone been
> > >through this that can fill me in? I did some
> > research
> > >on the NASDAQ website, but it's anything but clear
> > and
> > >simple. What is the test is like...is it similar to
> > a
> > >bar exam? If I fail, can I retake only after a
> > certain
> > >time?
> > >
> > >Thank you in advance for any information that you
> > may
> > >be able to share with me. Good luck to all.
> > >
> > >Brian
> > >
> > >__________________________________________________
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> > >
> > >To unsubscribe from this group, send an email to:
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> > >
> > >
> > >
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> >
> >
> >
>
>
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