Cmt — Chartered Market Technician, A Great Certification For Professional Technical Analysts

The Chartered Market Technician (CMT) is a certification for technical analysts by the Market Technician’s Association (MTA). It ratifies someone’s skills at technical analysis and could help them obtain a better, higher paying position or more clients, by proving their dedication to the profession and acomplishment within it.

As of February 9, 2005 those who have passed CMT levels 1 and 2 exams are now exempt from the 86 exam for becoming a Registered Research Analyst from the Financial Industry Regulatory Authority (FINRA).

(It doesn't exempt technical analysts from passing the Regulatory Series 87 examinations, however.)

The CMT certification has three levels. You haven’t earned the certification until you’ve passed all three exams. You must become an MTA member within five years.

It's designed to force technical analysts to study the entire broad area of technical analysis. Some technicians may be limited to a few signals or chart formations they’re familiar with.

The Level 1 exam is an entry level one that tests on definitions. The reading list includes chapters from:

The MTA Code of Ethics

Technical Analysis of Stock Trends, 9th Edition by Robert D. Edwards and John Magee

Technical Analysis Explained, 4th Edition by Martin J. Pring

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This tests last two hours and is in multiple choice format.

The reading list for the Level 2 exam includes chapter from:

The MTA Code of Ethics

Technical Analysis of Stock Trends, 9th Edition by Robert D. Edwards and John Magee

Elliot Wave Principle, Tenth Edition by A.J. Frost and Robert R. Prechter

New Trading Systems and Methods by Perry J. Kaufman

Technical Analysis The Complete Resource for Financial Market Technicians by Charles D. Kirkpatrick and Julie R. Dahlquist

Japanese Candlestick Charting Techniques, 2nd Edition by Steve Nison

Investment Psychology Explained by Martin J. Pring

Technical Analysis Explained, 4th Edition by Martin J. Pring

Technically Speaking by Chris Wilkinson

Evidence-Based Technical Analysis by David R. Aronson

The Level 2 exam is multiple choice also and last four hours. It requires greater depth and proficiency.

The Level 3 exam reading list includes:

The MTA Code of Ethics

Technical Analysis for the Trading Professional by Constance M. Brown

Elliot Wave Principle, Tenth Edition by A.J. Frost and Robert R. Prechter

Intermarket Analysis: Profiting from Global Market Relationships by John J. Murphy

Japanese Candlestick Charting Techniques, 2nd Edition by Steve Nison

Irrational Exuberance, 2nd Edition by Robert J. Schiller

The Level 3 exam is in essay form and lasts four hours.

Past tests aren't for sale. The MTA does sell sample questions to study.

The MTA also founded the CMT Institute to provide online classes to those wishing to prepare for their exams. Carson Dahlberg is the director.

Currently, there are about 1,000 CMTs, with another 2,000 analysts studying for the certification.

For everyone planning a career on Wall Street or in some financial institution as a technical analysis, the Chartered Market Technician certification is a terrific way to validate your skills and open new career doors.