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MARKET TECHNICIANS ASSOCIATION

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Title: MARKET TECHNICIANS ASSOCIATION


1
MARKET TECHNICIANS ASSOCIATION
  • CHARTERED MARKET TECHNICIAN

2
CMT EXAMS
  • There are three levels
  • Level one is definitions
  • Level two is definitions and applications
  • Level three is application

3
CMT EXAMS
  • Ethics are tested on all levels of the exam.
  • Level one and level two are multiple choice
    exams.
  • Level one is 120 to 132 questions.
  • Level two is 150 to 160 questions.
  • Level three is all essay.

4
Level One
  • CMT Level 1 Exam tests the candidates knowledge
    of six basic areas of technical analysis
  • 1) Terminology of technical analysis 2) Methods
    of charting 3) Determination of price
    trends/basics of pattern recognition 4)
    Establishing price targets 5) Equity market
    analysis 6) Applying technical analysis to bonds,
    currencies, futures and options

5
LEVEL ONE BOOKS
6
MTA CODE OF ETHICS
  • You need to know this one page code of ethics and
    understand its application to real world
    situations.

7
BOOKS
  • Pring, Martin J. Technical Analysis Explained,
    4th Edition, McGraw Hill Book Company, New York,
    NY, c. 2001, ISBN 0-07-138193-7
  • Chapters 2 thru 20, and 22 thru 31

8
BOOKS CONTINUED
  • Edwards, Robert D. and Magee, John, Technical
    Analysis of Stock Trends, 9th Edition, CRC Press,
    Taylor Francis Group, Boca Raton, Florida,
    c2007, ISBN 100-8493-3772-0
  • Chapters 1 thru 16.1, 17.2, 23, 25, 27-31, and
    38 43.

9
BOOKS CONTINUED
  • Kirkpatrick, Charles D. and Dahlquist, Julie R.
    Technical Analysis The Complete Resource for
    Financial Market Technicians, Pearson Education,
    Inc., Upper Saddle River, New Jersey 07458, c.
    2006, ISBN 0-13-153113-1
  • Chapters 1 thru 6, 8 12, 14, 15, 17 21, 23,
    Appendix A and Appendix B

10
BOOKS CONTINUED
  • du Plessis The Definitive Guide to Point and
    Figure, A comprehensive Guide to the Theory and
    Practical Use of the Point and Figure Charting
    Method, Harriman House Ltd, 3A Penns Road
    Petersfield Hampshire, Great Britain ISBN
    1-897-59763-0
  • Chapters 1 through 4

11
BOOKS CONTINUED
  • Kaufman, Perry J., New Trading Systems and
    Methods, 4th Edition, John Wiley Sons, Inc., c.
    1998, ISBN 0-471-26847-X
  • Chapters 4. Charting Systems and Techniques 18.
    Price Distribution systems

12
LEVEL TWO BOOKS
13
LEVEL TWO BOOKS
  • You are responsible for all previously assigned
    readings.
  • This is a cumulative exam.

14
LEVEL TWO
  • At this level you are responsible for
  • Theory
  • Basic application of concepts and techniques
  • Application of TA
  • Use of indicators
  • Overall market analysis
  • Length of exam is 4 hours

15
MTA CODE OF ETHICS
  • You need to know this one page code of ethics and
    understand its application to real world
    situations.

16
BOOKS
  • Kirkpatrick, Charles D. and Dahlquist, Julie R.
    Technical Analysis The Complete Resource for
    Financial Market Technicians, Pearson Education,
    Inc., Upper Saddle River, New Jersey 07458, c.
    2006, ISBN 0-13-153113-1
  • Chapters 7, 10, 13 15, 17 - 21, 23
  • Appendix A

17
BOOKS CONTINUED
  • Edwards, Robert D. and Magee, John, Technical
    Analysis of Stock Trends, 9th Edition, CRC Press,
    Taylor Francis Group, Boca Raton, Florida,
    c2007, ISBN 100-8493-3772-0
  • Chapters 17, 17.1, 17.2, 23, 24, 27, 28, 42 and
    Appendix A

18
BOOKS CONTINUED
  • Pring, Martin J. Technical Analysis Explained,
    4th Edition, McGraw Hill Book Company, New York,
    NY, c. 2001, ISBN 0-07-138193-7
  • Chapters 16, 19, 21, 25, 28

19
BOOKS CONTINUED
  • Kaufman, Perry J., New Trading Systems and
    Methods, 4th Edition, John Wiley Sons, Inc., c.
    1998, ISBN 0-471-26847-X
  • Chapters 1 thru 14, 20, 21, 23, and 24

20
BOOKS CONTINUED
  • Nison, Steve, Japanese Candlestick Charting
    Techniques, 2nd Edition, New York Institute of
    Finance, c. 2001, ISBN 0-7352-0181-1
  • Chapters 1 thru 9

21
BOOKS CONTINUED
  • du Plessis The Definitive Guide to Point and
    Figure, A comprehensive Guide to the Theory and
    Practical Use of the Point and Figure Charting
    Method, Harriman House Ltd, 3A Penns Road
    Petersfield Hampshire, Great Britain ISBN
    1-897-59763-0
  • Chapters 5 through 9

22
BOOKS CONTINUED
  • Frost, A.J. and Prechter, Robert R., Elliott Wave
    Principle, Tenth Edition, New Classics Library,
    Gainesville, GA c. 1978-2005 ISBN 0-932750-75-3
  • Chapters 1 thru 4

23
BOOKS CONTINUED
  • This can now be found in the MTA Knowledge Base
  • Wilkinson, Chris Technically Speaking, Traders
    Press Inc., c. 1997, ISBN 0-934380-39-2
  • Chapter Phil Roth pages 323-350

24
BOOKS CONTINUED
  • Pring, Martin J., Investment Psychology
    Explained, John Wiley Sons, Inc., c. 1993,
    ISBN 0-471-13300-0
  • ALL CHAPTERS, THE ENTIRE BOOK

25
BOOKS CONTINUED
  • Aronson, David R Evidence-Based Technical
    Analysis, John Wiley Sons, Inc., Hoboken, New
    Jersey, c. 2007, ISBN-13 978-0-470-00874-4
  • Chapters 4 thru 7

26
LEVEL THREE BOOKS
27
LEVEL THREE BOOKS
  • You are responsible for all previously assigned
    readings.
  • This is a cumulative exam.

28
LEVEL THREE
  • At this level you are responsible for
  • You are asked to become an analyst, strategist,
    portfolio manager, etc. for the duration of this
    exam.
  • You should be able to demonstrate your
    proficiency on various indicators, concepts and
    intermarket relationships.
  • You must be able to write clearly and
    thoughtfully expressing your recommendations and
    support for those recommendations.
  • Length of exam is 4 hours, or 240 minutes.

29
MTA CODE OF ETHICS
  • You need to know this one page code of ethics and
    understand its application to real world
    situations.
  • If you do not pass the ethics portion of the
    Level 3 exam, you will fail the exam.

30
BOOKS
  • Brown, Constance M., Technical analysis for the
    Trading Professional, McGraw-Hill, c. 1999, ISBN
    0-07-0120625
  • Chapters 1 thru 11

31
BOOKS CONTINUED
  • Murphy, John J., Intermarket Analysis Profiting
    From Global Market Relationships, John Wiley
    Sons Inc., c. 2004, ISBN 0-471-02329-9
  • Chapters 1 thru 15

32
BOOKS CONTINUED
  • Nison, Steve, Japanese Candlestick Charting
    Techniques, 2nd Edition, New York Institute of
    Finance, c. 2001, ISBN 0-7352-0181-1
  • Chapters 10 thru 17

33
BOOKS CONTINUED
  • Shiller, Robert J., Irrational Exuberance, 2nd
    Edition, Princeton University Press, c 2005, ISBN
    0-691-12335-7
  • ALL CHAPTERS

34
BOOKS CONTINUED
  • Frost, A.J. and Prechter, Robert R., Elliott Wave
    Principle, Tenth Edition, New Classics Library,
    Gainesville, GA c. 1978-2005 ISBN 0-932750-75-3
  • ALL CHAPTERS, THE ENTIRE BOOK

35
BOOKS CONTINUED
  • du Plessis The Definitive Guide to Point and
    Figure, A comprehensive Guide to the Theory and
    Practical Use of the Point and Figure Charting
    Method, Harriman House Ltd, 3A Penns Road
    Petersfield Hampshire, Great Britain ISBN
    1-897-59763-0
  • THE ENTIRE BOOK

36
WHAT YOU NEED TO KNOW
  • Be able to differentiate between an up market and
    a down market.
  • Understand oscillators/indicators and how they
    are used.
  • Default levels are not always the correct levels.
  • Know how to use a trendline.
  • Understand the application of all you have read.
  • You need to know and understand the MTA code of
    ethics and its application.

37
Preparation for these exam
  • Read the assigned readings.
  • Understand the applications.
  • Memorize.
  • Feel comfortable with the vocabulary.

38
TEST DAY
  • Level 1 level 2 give you plenty of time to
    answer the questions.
  • Time management is key on most exams and is
    especially important on the Level 3 exam.
  • For level 3 one point approximates 1 minute of
    the exam time.
  • Budget your time, remember some answers might be
    brief bullet points rather than long essays.
  • Get ample sleep before the exam.

39
Additional books that will help your preparation
for the exams
  • John J. Murphy, TECHNICAL ANALYSIS OF THE
    FINACIAL MARKETS
  • The workbook that goes with that book.
  • Robert W. Colby, THE ENCYCLOPEDIA OF TECHNICAL
    MARKET INDICATORS.
  • Martin J. Pring, STUDY GUIDE FOR TECHNICAL
    ANALYSIS EXPLAINED 4TH EDITION.
  • NO, THEY ARE NOT ASSIGNED

40
Web-sites that will help
  • www.MTA.org Our Knowledge Base is a great
    resource and depositary of information about
    anything Technical Analysis.use it!
  • www.stockcharts.com Go to chart school and you
    will find interesting information
  • www.Bollingerbands.com

41
DVDs THAT WILL HELP
  • Elliott Wave, Steve Poser
  • Point and Figure, Ken Tower
  • Introduction to Technical Analysis, Ralph
    Acampora
  • Intermarket Analysis, John Murphy
  • Foreign Exchange, William Dale
  • Volume, Trend Momentum, Philip Roth
  • Incorporating Technicals with Fundamentals ,
    Larry Berman

42
WHAT TO BRING TO THE EXAM
  • You may bring a simple non-memory type
    calculator.
  • You may bring a ruler.
  • You may bring pencils.
  • For level three candidates.
  • Although the charts are on the exam you will be
    given a chart package for this exam this is an
    additional package.

43
ALERT
  • If you do not get your chart package for LEVEL
    THREE EXAM, please alert the proctor and ask for
    your charts.
  • Should no charts be available, either reschedule
    the exam or take the exam without the chart
    package. This is your decision. Please call the
    office and report this.
  • You are allowed to have a calculator, although
    there is one on the screen, a ruler and a pencil.
    ALL LEVELS.
  • If the proctor wont allow you these items, call
    the Marie Penza at the MTA office to reschedule
    the exam.

44
WHO IS IN CHARGE OF WHAT
  • Marie exam scheduling and exam problems as
    well as Membership.
  • Cassandra library, information about joining
    the MTA and finding sponsors.
  • Tim CMTi, podcasts and webinars.
  • Jeanette Director of the CMT program.

45
GOOD LUCK TO ALL
  • We here at the Market Technicians Association
    wish you success on your exams.
  • We are here to help you.
  • Contact information
  • Jeanette_at_MTA.org Marie_at_MTA.org
  • Cassandra_at_MTA.org Tim_at_MTA.org
  • 646.652.3300
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