| Topic Name: |
Prop Trading -- Impt Question |
| Message Name: |
standard deal |
| Date Posted: |
03/19/2004 |
| In Reply To: |
You don't need a Series 7 to trade; you need a year or two of clerking, an education, and then a badge. If you are getting a Series 7 you may be trying to solicit people...make sure you understand all the nuances of the job.
What are you doing to be trading? |
| Message: |
This is a standard prop equity deal for some firms. 5K down is generous. If you put down 10K or 15K, you get 100 percent of your profits. You need a seven because you're not a customer, you're a partner in the LLC. I'm not clear on the law but you are trading as a "Pro." Lynx is supposed to be good but if they scalp NYSE, be sure to make sure they're making money. New rules changes have made it harder to trade that way.
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