Announcing Completion of CMT Level III Exam

Dec 30, 2008: 3:07 PM CST

I just received word of my successful passing/completion of the Chartered Market Technician program’s Level III final (written essay) examination and wanted to announce that to readers and summarize the CMT.

The CMT is a designation awared by the Market Technicians Association (www.mta.org) which is a program that takes you through a wide variety of methods used in technical analysis, from the early concepts to modern technical trading systems.  Full information is available by visiting the CMT portion of the MTA website or downloading the CMT Program Brochure (which will open and download as a PDF document).

The program is a three examination process which unfolds over a period of at least 18 months (6 months between each exam).  Each test requires you to read four or more textbooks (and not the 100 page kind!) which walk you through the intricacies of Chart Analysis (patterns), Technical Indicators (formulas, applications, and construction), Candlestick Analysis (structure, meaning, history, interpretation), Cycles, the Elliott Wave Principle, Intermarket Analysis, Trading Strategies & Research, Statistics/Data Analysis, Psychology/Sentiment, and much more.  You can find the required reading lists by visiting their website.

A second portion of receiving the CMT charter is sponsorship by three current MTA members.  These members must be familiar with your work and recommend you for membership (which isn’t as intimidating as it may seem – members are quite friendly and accessible).

It is on that note that I am requesting the sponsorship of one more member to receive my CMT Designation.  I would prefer for the sponsor to be familiar with my work on the blog (soon to be website) and have been aware of my daily commentaries for some time.  I am requesting any MTA Member/CMT Charterholder who is willing to sponsor me to contact me (through email or through the comment section) to serve as my sponsor.  I would be very appreciative of your support.

Also, if any reader is interested in learning more about the MTA or the CMT program, or to request sponsorship by me once I receive the CMT Charter, I would be happy to discuss my positive experiences with the organization and certification process.

In short, the CMT program took me from a broad “where do I start – there’s so much to learn” view through a specific pathway to develop my knolwedge and skills in a structured, professional manner.  There really is so much – perhaps too much – information to take in about trading.  The CMT program provides a professional pathway for retail and professional traders to take a guided approach to learning then applying the concepts discussed.

As always, thank you to everyone for your continued support.  Let’s make 2009 even better in the markets!

Corey Rosenbloom
Afraid to Trade.com

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Comments
  • Neirival
    Hello Corey,

    I just started to study AT and found your blog.
    It is really good.

    Congrats for your CMT.

    Regards /// Neirival
  • Manish Bothra
    I would like to know more about CMT, could u share ur mail id?
    REgards,

    Manish Bothra.
  • samir ghadiali India
    Congratulations Mr. Corey and wishing you a very happy and successful new year.You deserved it i know you are very good TA.
  • Jack, thank you for reading!

    Anon, People often ask me "where do I start" or "what books to you recommend?" I then ask "How serious are you in learning trading?" If it's a hobby, then I have one set of books I recommend but if it's for a career, I recommend the CMT Level I reading list which includes Pring & Murphy's expositions as well as my #1 beginner's guide which is classic TA from Edwards and Magee's "TA of Stock Market Trends."

    If you're still interested after plowing through those essential works, you have a future ahead of you. :)
  • Anonymous
    Well done!, your blog is excellent so will be your site. Even without the whole process of getting the certifications it is a good to use their 'recommended reading' to learn in a structured manner.
  • Jack
    Corey,
    Congtrats.

    I'm new to your work, and find it excellent.
  • Dominick
    CONGRATULATIONS COREY!!! Not for a moment did I think you would have a problem passing the exam. Enjoy the success, thanks for all your help, I'm looking forward to 2009.
  • Thanks Matt!

    I have some ambitious goals going into 2009 that I envision playing out, including expansion of the blog into a website resource and other projects. I hope it's just the beginning!
  • Thanks Everyone!

    Regarding David's comment, that's kinda true in that perspective. We all may have started with dreams of overnight riches, perhaps picking the right option or the right penny stock that would make us a millionaire in no time, but reality soon sets in and what sustains you in this business is your education and your experiences and while the market can still take your money away (the market doesn't care how many letters follow your name), it can't take the experiences away.
  • Anonymous
    Congrats! Keep up the good work. If you were an investment vehicle I would go long!

    Matt
  • David
    Congratulations Corey ,, its a long way from the leveraged weekend bet that was gonna make your fortune ! So happy for you.
  • Aly
    Congrats. Well deserved.

    Let us know if you have trouble finding a sponsor.
  • Anonymous
    congratulations. That is certainly a big accomplishment. We already knew that you were expert in tech.analysis.
  • congratulations,

    A long journey, I am sure,
  • Thanks Mojave,

    As you can tell also, I put the 'push for sponsors' until it was too late, always thinking "I'll ask later" or whatever excuse. Now the 3 exams are up and time is out. It's not hard to find sponsors, I just always assumed I had more time to put out the emails, as I was always unable to attend CMT conferences where it would have been a snap.

    But like you and everyone, there's so much going on in my life that it's easy to put off things until the last minute. It's certainly not easy being your own boss. Fun, but not easy.

    If I can be of assistance, please let me know.
  • Brad Harris
    I will certainly keep that in mind in the future as I have not ruled out the CMT, I've just got some other stuff in the hopper and I'm still building my core trading skill set on a "part-time" basis even though I treat trading as a second job, often putting more time and effort in than my real job.

    I guess a large driver in considering the CMT besides the personal accomplishment is the ability to "legitimize" my TA and trading skills. Having others acknowledge my trading as anything more than a hobby proves difficult, i.e. legitimzing my second part time job on my resume/applications for B school down the road. I've considering forming an LLC but I cant really justify the costs. Perhaps a blog/website would be a good outlet.

    Either way, I do want to say thanks for the efforts you've put in here, it has been very helpful in my development, particularly your clear analysis of fibs and EWT. Keep up the good work!
  • mojave
    Well done Corey - like Brad (and many others I'm sure), I've also considered CMT over the years. I previously published a blog, ran public charts/commentary on stockcharts, etc but as a self-employed, full-time trader I've put the 'search for sponsorship' on the backburner. Nice job w/ the accomplishment!
  • Brad,

    The one 'iffy' requirement of MTA Membership - and thus CMT Charter - is five years in the field 'actively applying technical analysis' generally as a primary source of income. With completion of the CMT program, this requirement (for full membership) is reduced to three years.

    For me, I kept daily print-outs of markets and set-ups for perhaps 2 or 3 years prior to starting the blog. I then set-up a site that was private - for friends/family only - that shared some of my ideas and links etc which then evolved into the blog. I didn't do it for CMT/MTA purposes (in fact, I discovered the CMT a few months after going public) but it was just a good exercise.

    I don't work for a large company though there are various independent traders who seek and obtain their CMTs. "Seeing your work" doesn't necessarily mean looking at every little detail you've written. The CMT process takes about 2 years to complete and you really don't need the sponsorship until the end which gives you plenty of time to work up a portfolio of annotations and writings for you to submit via email or CD through the mail (or hard-copy like in a binder).

    Each sponsor may be looking for something different so check with them once that time comes in advance.

    Developing a portfolio will also be helpful because you can apply directly the concepts you're learning and are required to know for the CMT tests. Just annotate a few charts per topic per level of the CMT program. Again, they're not looking to make sure you've written something profound every single day - but that they can have confidence in your knowledge and skills in applying indicators and analysis techniques across various stocks and markets.

    I'd be happy to help if I can be of assistance.
  • Brad Harris
    Congratulations!

    I have thought about pursuing the CMT for sometime but I am not employed in the industry and would not know how to go about getting sponsorship considering I do not do the "work" necessary for others to recognize. Besides starting a website like yourself, do you have any other ideas on how to gain recognition for TA skills, etc?
  • planetelex
    Congratulations! Sorry I can't help with the sponsorship. Maybe one day. :-)
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