Adult Education: Passing The Seven

The "new economy" has everyone looking to re-invent
themselves - and your correspondent is no exception.

The predicament has always been - re-invent yourself
to do what?

And it's not as if opportunity is around every corner.

"Retraining" the jobless for new careers is touted
everywhere as a cure for what has become endemic
and chronic unemployment. The only problem is
is that for the most part neither the old jobs the
unemployed left nor the "new" jobs they were
trained for exist any longer in this economy.

And I found myself in a similar predicament, in that
the field in which I worked independently was about
to go the way of the dodo. After all, what I did was
predicated on the existence of a REAL economy,
where people made, sold and transported real goods
the real people had a demand for.

Well, that's all so '80s and '90s. Has nothing to do
with today's "real economy" , which is trading contracts
and pieces of paper back and forth in the best bankster
fashion.

So, I decided about a year ago, since I was reading and writing
so much about "traders" and "banksters", I decided to
become one.

First thing to do was to teach myself How To Trade. That's
relatively easy. There are all kinds of courses, either online or
on DVD, that can teach you how to trade stocks, options, even
commodities and currencies. There are other courses that teach
you how to use the major trading platforms provided by the
"trading" brokers, such as Scotttrade, E-Trade, TD Ameritrade,
and the like. Courses that teach you both fundamental analysis
and Technical Analysis (reading charts).

Being neither hugely rich nor loaded with plentiful free
time, I opted for the trading courses taught by College of
Southern Nevada and UNLV. I then bought some inexpensive
but thorough trading books and took up the least expensive
but most comprehensive stock charting program I could find.

So far, so good. Next step was to find someplace where I could put
all this knowledge to use. And I found that if you can pass Federal
and State licensing, plus fund a large enough account to put you
out of the "retail day trader" category, you can actually find
employment as a trader.

No Harvard MBA required. No elite old-school ties. And also
no magnificent salary. But licensing, some formal education,
and the ability to fund a trading account of $25,000 or larger
will get you in the door.

So, before I go forth to get "backers" the first thing to
do is to Get Licensed. And the process is very much like getting
a Real Estate license - study for several months, take a formal
class or classes, and then sit for the tests. In the case of Trading
in Nevada, there are two tests you must pass - the FINRA Series 7,
on the working and regulations of the financial markets, and
the Series 63, which covers the "Blue Sky" laws that exist in
every state. And you must first pass the 7 before you take the
63.

Well, I got Step 1 out of the way. Earlier this week, I Passed
The Seven. Not with the greatest scores, mind you, but a
Pass nonetheless. Now, having sent in the results, I am awaiting
my permission to take the 63 - and I have 60 days from
Passing The 7 to do so. So it's back to the books.

The 63 is a much shorter test - two hours rather than all day -
but I am advised that what it lacks in length it makes up for in
difficulty - so no break there.

But still and all, it's worthwhile. Even if I ultimately decide
not to trade for a living, just passing the tests gives me some
credibility when talking about banksters, traders and the
like. In the eyes of the law, I am knowledgeable in things
like equities, fixed-income, options, even "derivatives".

With enough money, I could be a one-man Goldman Sachs.
Another Vampire Squid. Just what the economy needs.
How nice.

But in reality, the goal is to make enough to pay the bills
and support the other activities (such as this blog) that
make life meaningful and worthwhile.

And finally, I suppose that if you can't beat 'em, better find
a way to join 'em....