There are trillions of dollars flowing in the economy and expertise in understanding financial markets can give you an edge to create a promising career. Thanks to the establishment of the non-profit global organization, ‘The Market Technicians Association (MTA)’, in 1973, proper training procedure for studying financial markets came into existence. The journey from pencil graphs to high-tech computers has been rewarding for numerous chartered market technicians who have been in this profession for a couple of decades.
While some have invented new or improved methods of financial analysis, many have moved on to become well-established financial analysts, teachers, investors, educators, and mentors. Some have even formed their independent brokerage firms.
Becoming a Chartered Market Technician
Candidates who aspire towards this career option, must firstly study the official website of the Market Technicians Association (MTA). The MTA provides certification programs in which candidates are required to demonstrate expertise in numerous aspects of technical analysis. This exam is conducted in three levels, the first two being MCQ-based tests and the last one, an essay-based test.
In the course of a few years, the MTA has certified nearly 3000 members worldwide and it has become popular in financial marketing services for training competent candidates. To become a CMT, one has to pass all the three exams conducted by the MTA.
Candidates must be able to read, as well analyze financial charts and graphs. The relationship between price patterns and fluctuating markets, and every associated minute detail must be understood well. Candidates are also provided advanced training in numerous facets of the financial markets. It is good to have some background in finance and commerce to become a member of MTA, so that it is easier for candidates to grasp the concepts.
To pass the tests, candidates have to go through 3 levels of tests. In the first level, they are tested with the basics of charting methods, terminology, and ethical principles. In the second level, applications like Dow Theory, Elliott Wave, intermarket, etc. are the subjects of testing.
In the last and most vital part, candidates are tested on the basis of essays that must be well-researched and written properly. Those who have a background in finance, especially a bachelor’s degree in relevant subjects, or those who are working in fields related to finance, securities, financial services, fund management, and stock markets can appear for the test to enhance their careers.
To join the MTA, one is required to become a member of this program and every individual must be sponsored by at least 3 other MTA members. There are certain terms and conditions that must be followed by every member joining the organization and all these have been specified on the official website. It has to be remembered that passing the tests conducted by the organization is recognized by U.S. Securities and Exchange Commission and it is also regarded equivalent to passing Series 86/87 examination. This is certainly a great career booster for individuals in the finance field. Even the Financial Industry Regulatory Authority (FINRA) prefers employees who have passed the first two levels of the exam, as an alternative to the more difficult – Analysis Series 86 examination for technical analysts.
Chartered market technicians are required in the finance sector for diverse jobs, just like chartered accountants or certified financial planners. Candidates interested in this career must make efforts to get relevant education and carve a niche for themselves in this segment of the market.