Can anybody tell me if the CMT designation would be heavily weighted in trading? Would it open any doors for me, is it worthwhile going for it? If yes, anybody done it already, any ideas, suggestions? Thanx
The more cynical might suggest that it is just a way of selling books. Seems to have been put together by a group of vendors and authors whose books seem to comprise the course material. Do employers like IB's and HF's place any value on it? Doubt it. I read price action as my primary tool, but doubt you can you make money with RSI etc like there is some system you can follow with candles or the usual chart patterns or simple OHLC based calculations [indicators] that will allow you to make money consistently. Doubt it.
Its more usefull if your job profession is a technical analyst on wall street and your working in TA dept in IB or Hedge Fund. But even then I think they look for CFA designation or an MBA before they consider cmt. Its really a second tier designation. Sort of like an accountant who does'nt have a CPA designation but instead gets the PA (public accountant) designation.
Makes perfect sense. It takes 3 years (approx) to complete the CFA. I suspect the CMT takes considerably less time.
As far as most institutions go you would have more credibility if you slaughtered a goat in their conference room than you would by talking technical analysis.
I`m taking the level 3 in the Fall. Hopefully will have the letters by January. It has helped my personal trading tremendously. I could give a flying fuck what an institution thinks about my pedigree. Cause I would rather eat dead moose ass then work at one. Bottom line. It`s useful if you actually trade. But not worth it if your goal is to fluff a resume. Unless your gonna go ahead and take the CFA also. Then you will appear more well rounded and clearly have a great interest in analysis of the mkts. It is just another tool in my box. Oh, and as far as the MTA goes. It really cant hurt to know these guys personally...especially if your on "the street". There is quite a list of whos who that are members. And they are all super nice and helpful to other members.