A financial designation that has begun to gain traction in recent years is that of Chartered Market Technician, the CMT, awarded by the MTA or Market Technicians Association. The designation is a sign of excellence in technical analysis. Investors, portfolio managers, and others often use both fundamental and technical analysis when researching trends and opportunities in various financial markets. The CMT is now often combined with the CFA to indicate excellence in both disciplines.
The CMT exam is given twice a year and consists of 3 parts. Each part must be taken individually. The test is given in both fall and spring. It must be completed within 5 years of starting the process.
The first two parts are multiple choice and the CMT level 3 is an essay format.
More and more financial employers are recognizing the value of a solid foundation in technical analysis. The ability to react to market movements based on a technical approach is crucial in today’s fast-moving markets. Many famous marketers are members of the MTA, such as Ralph Acampora.
The MTA has one-on-one meetings and roundtables across the country. MTA membership and subsequent CMT approval can create terrific networking opportunities. To achieve the designation upon passing, you must be a member and have 5 years of industry experience (also currently employed in a technical analysis/investment management job). If you pass all 3 parts, you will be credited with 2 years of experience.
There is a significant commitment of time and resources to achieve this designation. The MTA annual fee is $300 per year only. If you become a member, take advantage of all the MTA resources. One contact could mean the difference in the direction of your career. In today’s job market, you need every advantage you can get when applying for new positions.
The CMT offers a list of mandatory readings that constitutes a great library of technical analysis. Just like a doctor or a lawyer, these books are great reference points throughout your Finance career. You can find great deals online for the required reading list.
The CMT and the CFA make a great combination. For those in finance who are brave enough to venture down this path, I give them a lot of credit. The two combined give current and future employers the knowledge that you are serious and committed to excellence.