Chartered Market Technician

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Ruppert12

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Is anyone familar with the Chartered Market Technician exam and what its worth is?
 
Very few people have it. I looked it up once, the requirements to get it are pretty tough as well. You need 2 or 3 people who actually have it to recommend you.
Very unknown degree as well
 
I met Ralph Acampora earlier this summer at a TA seminar. After that seminar, I’m paying more attention to technicals since they do carry some weight in an equity value. TA is purely the supply & demand factors of a particular equity.
 
^ most hedge funds use TA much more so than you’d think..I’d venture to say as whole, the industry uses it more than fundamental analysis.
 
I took a TA class in my undergrad and both of the teachers had CFA and CMT designations, both worked as traders, and both said if you are a trader, CMT is a must.
They said the tests are a lot easier than CFA because the narrow scope of questions. I’ve considered it, but I would only if I had an “in” as a trader. If you are doing PM or research it’s useless
 
Just a note, TA is based on trending markets. If markets don’t trend, everything goes out the window.
 
Wow, was just browsing their site and you get the 86/87 exemtion if you pass the CMT?
How hard is this again?
 
ASSet_MANagement Wrote:
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> Wow, was just browsing their site and you get the
> 86/87 exemtion if you pass the CMT?
>
> How hard is this again?
Ping Dreary or SamNYC. Both of them have it.
 
It doesn’t have the same cachet as the CFA, but I think it’s useful stuff to know. There are people on this board who have done the CMT. I haven’t, but I like the Pring book that they use.
 
It costs $1400 to take the exams plus $300 for yearly membership dues. Eh…
 
ohai Wrote:
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> It costs $1400 to take the exams plus $300 for
> yearly membership dues. Eh…
No one told you? If you get CMT L1 you can put it on your resume and land a PM job at an HF…
You don’t even have to have gone to UoP!
 
ASSet_MANagement Wrote:
——————————————————-
> ohai Wrote:
> ————————————————–
> —–
> > It costs $1400 to take the exams plus $300 for
> > yearly membership dues. Eh…
>
>
> No one told you? If you get CMT L1 you can put it
> on your resume and land a PM job at an HF…
>
> You don’t even have to have gone to UoP!
DANG! I must have missed that one on MTA’s website. I’ll defiantly be dropping $500 to sign up for L1.
 
I’m also signing up for it. I’m not sure how the value of certification, never saw any opening asking for CMT but I just want to learn this stuff thoroughly.
I was never very fond of TA when I decided that I want to make a career in finance. Then, slowly I started paying attention to TA when I interacted with some traders, and now I’m completely addicted to it. When I research any stock, I look at it’s technicals first. I mean I can’t look at any chart unless it’s a candlelight chart, with at least 5-6 technical below the chart. TA stuff is simply addictive if you look at it to estimate the market sentiment and behavioral aspects.
Frankly speaking, I now believe that EMH is total sh!t and I want to be a trader actually.
 
Bernanke Wrote:
——————————————————-
> I’m also signing up for it. I’m not sure about how
> the value of certification, never saw any opening
> asking for CMT but I just want to learn this stuff
> thoroughly.
>
> I was never very fond of TA when I decided that I
> want to make a career in finance. Then, slowly I
> started paying attention to TA when I interacted
> with some traders, and now I’m completely addicted
> to it. When I want to research any stock, I look
> at it’s technicals first. I mean I can’t look at
> any chart unless it’s a candlelight chart, with at
> least 5-6 technical below the chart. TA stuff is
> simply addictive if you look at it to estimate the
> market sentiment and behavioral aspects, that’s
> what I feel.
> Frankly speaking, I now believe that EMH is total
> sh!t and I want to be a trader actually.
Can you find any model that actually works ( back tested for years) ?
I remember reading a book that tested the most common TA models ( momentum and reversal models) and proved that they do not add any value when commission and slippage are included.
 
Trusting technical analysis is different from trusting this weird organization that few people have heard of.
 
mo34 Wrote:
——————————————————-
> Can you find any model that actually works ( back
> tested for years) ?
>
> I remember reading a book that tested the most
> common TA models ( momentum and reversal models)
> and proved that they do not add any value when
> commission and slippage are included.
can you find any FA model which actually works, back tested for years?
I have also read some research papers which have tested most common TA models and concluded that it doesn’t work.
The point is subjectivity, when you do TA, you are ready to accept that your strategy will fail but more importantly you know what kind of news will make that happen.
I have really never seen anyone who does TA without looking at news and fundamentals, neither I take TA as set of arbitrary rules, and many times different rules contradict each other. I take TA as a tool to gauge behavioral aspect and sentiment of market, I combine it with FA to make final judgment and FA doesn’t means that EMH is true.
This is an eternal discussion, and it can go on and on, you really have to use it yourself to find it’s worth, rejecting it just by testing a set of simple rules won’t help you any bit, it didn’t helped any professor who published such results in a desperate attempt to publish a paper. TA is used a lot in market, most of the time its used along with FA.
 
ASSet_MANagement Wrote:
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> “Inside the House of Money” praises TA a lot.
I’ve come to the conclusion that one can’t really do macro without paying attention to technicals in some capacity. Some macro types are just technical traders that trade across different asset classes. I can see why they are categorized as macro, but in my book, you ultimately have to have some underlying vision of fundamentals to be a true macro investor (as opposed to a trader who just trades broad asset classes). The fundamentals give you a sense of over/under pricing, and technicals give you a sense of timing, which gets down to making decent risk-reward plays. You can be right on the fundamentals, but if the risk-reward isn’t favorable, you shouldn’t pull the trigger. TA can help you decide if there is a good risk-reward in there.
 
^ it’s used alot in time series / algo trading ; the practitioner should know all three pillars of investing: Quantitative, Technical, Fundamental
 
Eh…I was learning about TA and I think at some point in time they were useful but TA is all about meeting a few criteria to start a trigger event. Flash trades are all on TA. As with any strategy, inefficiencies are extinguished away when exploited. So with all these flash trades using TA at the mini second level, how useful can it really be when we are looking over finite periods?
 
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