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  1. MARKET TECHNICIANS ASSOCIATION CHARTERED MARKET TECHNICIAN Jeanette Young, CFP, CMT

  2. CMT EXAMS • There are three levels: • Level one is definitions • Level two is definitions and applications • Level three is application Jeanette Young, CFP, CMT

  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. Jeanette Young, CFP, CMT

  4. Level One • CMT Level 1 Exam tests the candidates’ knowledge of six basic areas of technical analysis: • 1) Terminology of technical analysis2) Methods of charting3) Determination of price trends/basics of pattern recognition4) Establishing price targets5) Equity market analysis6) Applying technical analysis to bonds, currencies, futures and options Jeanette Young, CFP, CMT

  5. LEVEL ONE BOOKS Jeanette Young, CFP, CMT

  6. MTA CODE OF ETHICS • You need to know this one page code of ethics and understand its application to real world situations. Jeanette Young, CFP, CMT

  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 Jeanette Young, CFP, CMT

  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 10:0-8493-3772-0 • Chapters: 1 thru 16.1, 17.2, 23, 25, 27-31, and 38 – 43. Jeanette Young, CFP, CMT

  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 Jeanette Young, CFP, CMT

  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 Jeanette Young, CFP, CMT

  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 Techniques18. Price Distribution systems Jeanette Young, CFP, CMT

  12. LEVEL TWO BOOKS Jeanette Young, CFP, CMT

  13. LEVEL TWO BOOKS You are responsible for all previously assigned readings. This is a cumulative exam. Jeanette Young, CFP, CMT

  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 Jeanette Young, CFP, CMT

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

  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 Jeanette Young, CFP, CMT

  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 10:0-8493-3772-0 • Chapters: 17, 17.1, 17.2, 23, 24, 27, 28, 42 and Appendix A Jeanette Young, CFP, CMT

  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 Jeanette Young, CFP, CMT

  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 Jeanette Young, CFP, CMT

  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 Jeanette Young, CFP, CMT

  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 Jeanette Young, CFP, CMT

  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 Jeanette Young, CFP, CMT

  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 Jeanette Young, CFP, CMT

  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 Jeanette Young, CFP, CMT

  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 Jeanette Young, CFP, CMT

  26. LEVEL THREE BOOKS Jeanette Young, CFP, CMT

  27. LEVEL THREE BOOKS You are responsible for all previously assigned readings. This is a cumulative exam. Jeanette Young, CFP, CMT

  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. Jeanette Young, CFP, CMT

  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. Jeanette Young, CFP, CMT

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

  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 Jeanette Young, CFP, CMT

  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 Jeanette Young, CFP, CMT

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

  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 Jeanette Young, CFP, CMT

  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 Jeanette Young, CFP, CMT

  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. Jeanette Young, CFP, CMT

  37. Preparation for these exam • Read the assigned readings. • Understand the applications. • Memorize. • Feel comfortable with the vocabulary. Jeanette Young, CFP, CMT

  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. Jeanette Young, CFP, CMT

  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 Jeanette Young, CFP, CMT

  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 Jeanette Young, CFP, CMT

  41. DVD’s 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 Jeanette Young, CFP, CMT

  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. Jeanette Young, CFP, CMT

  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 won’t allow you these items, call the Marie Penza at the MTA office to reschedule the exam. Jeanette Young, CFP, CMT

  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. Jeanette Young, CFP, CMT

  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@MTA.orgMarie@MTA.org • Cassandra@MTA.orgTim@MTA.org 646.652.3300 Jeanette Young, CFP, CMT