Career as FX technical analyst/chartist

Hey TradeViper,

Thanks a lot for the insights!

They posted a job looking for a chartist/technical analyst and I just applied for it actually.
They didn't screen through much of my transcript but more of my commitment and interest in the financial markets and how much of a team player I was. That was pretty much it.

Apparently there isn't much sales for this particular job as they already have a regular pool of clients I'm guessing and they do have a sales department I think.

I did ask them if they used fundamentals but apparently they are strictly based on TA to build a big picture of the entire market.

Still would be trading my own account because ultimately I do not wish to rely on a firm as a main source of income. Trading has never been easy I'd say and many times I felt like giving up but somehow managed to power through all of it and starting to see some positive results.

Thank you again for all valuable input!

Cheers!

TradeViper said:
Well FS as you can see, you asked a loaded question.

First, as mentioned, you just don't walk in to a firm and and say, I am a technical analyst hire me, or I am here to be "trained" or have an apprenticeship. You need the sheepskins, and the better your transcripts are, the more prestigious the school, the better your chances are of getting on. Unless you are very talented or connected, you will no doubt start at the bottom rung, doing whatever job they tell you to do, usually in the sell side. You will labor for many hours, anonymous, unheralded and disrespected for some time, if during this time period you have proven yourself, meaning being successful at whatever work you were assigned, then and only then might you have a chance to do what you really want to do.

Also a strictly TA analyst really does not exist today, to be an analyst you need to have a full understanding of Macro and Micro factors, some political science and understanding, and the list goes on and on. Understand that these firms want only the best and brightest, to prove that, you need the degrees, and the educational backing.

The alternate route, trade well, post your certified P&L for 3-5 yrs on some internet board, and you never know, but, as with many endeavors, trading is much easier to talk about, than it is to do. But really, if it was easy, everyone would do it.

The Ever Running at the Mouth

Viper
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Handle123 said:
Oh man, spilled my Starbucks on my lap reading this.....LOL
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We learned at school: God is everywhere.
But my experience is that David goodboy is everywhere.
God used however only one alias while David Goodboy has dozens of them and number is still rising.

For me they both have one thing in common: they both tell nonsense. Or at least things that are irrelevant while living on earth. :D

I must however agree that technical analysis got him nowhere. So from his personal experience he is right. But the same is true for an analphabet who says that it is impossible to read or write.
 
Southampton said:
If you are serious about this business, get a CFA. It's the platinum card for respect.

Hampton
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Hey Southampton,

I do have plans to take up the certification whilst in this job actually. Probably would do so even more since you've pointed that out!

Cheers!
 
SimpleMeLike said:
Hello,

Will the new job allow you to trade your small account and pay you to be a technical chartist/analyst?

If not, how will you trade and work? Unlesss you sneak and do it.

Do you have passion for technical chartist/analyst?
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Hey SimpleMeLike,

They do not have a trading desk as there would be a conflict of interests but they do not have any qualms with employees doing their own trading.

Trading my own account shouldn't be much of an issues but I've yet to try it while working. Reason being I trade on the slightly higher TF i.e. 1HR and above so checking out the charts in the morning/noon and night should suffice I think.

Cheers!
 
Many thanks to everyone who have given your valuable input! Definitely opened my eyes and options to this line.

Could barely find zilch on the net regarding technical analysts/chartists but you guys have certainly blown me away with all the info!

Cheers!
 
http://www.ggu.edu/programs/finance/graduate-certificate-in-technical-market-analysis

GRADUATE CERTIFICATE IN TECHNICAL MARKET ANALYSIS

Golden Gate University's nationally prominent graduate Technical Analysis program was founded and developed by Professor Henry Pruden, one of the leading authorities on technical analysis education. The program is designed to enhance the professional capabilities of traders, advisers, portfolio managers and brokers in stocks, bonds, derivatives, and commodities. Our nationally known practice-experienced faculty are uniquely advantaged to teach the latest in investor psychology and behavioral finance as well as the classic techniques by R.D Wyckoff and by Edwards and Magee. Reflecting the growing need for professional credentials, the program is aligned with and helps prepare students for either the Chartered Market Technician (CMT) or the Chartered Financial Technician (CFTe) examinations.
 
Mtrader said:
We learned at school: God is everywhere.
But my experience is that David goodboy is everywhere.
God used however only one alias while David Goodboy has dozens of them and number is still rising.

For me they both have one thing in common: they both tell nonsense. Or at least things that are irrelevant while living on earth. :D

I must however agree that technical analysis got him nowhere. So from his personal experience he is right. But the same is true for an analphabet who says that it is impossible to read or write.
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The people who buy trading systems are the last people who should actually buy them cause when markets change, you have to have the experience to adapt. Recently Indexes making new all time highs and I changed the risk on those systems to less as the swings have reduced, why risk 3.00 when you can risk 2.00 during first 40 minutes. But new people have to learn much of how emotions are of overall market place cause that is what a chart is in my warped mind. Starting with 1800's, it was on emotions of not being on board of some 3 cent swing in wheat and has continued on till 1970s when programmers seeing patterns of triangles based on emotions or reasoning of getting in on trendlines for bounce back. It all TA, and OP working at a prop for short while, he either didn't learn enough like it is better to form a huge enough nestegg before going out on one's own, but like too many who think this is going to be easy to trade for oneself. Trading should encourage all to have open mind and yet many are like in concrete, just cause one can't understand it, maybe it will give you an idea for something else.

8 days to cleaning gift wrap.
 
faatshit said:
Hey SimpleMeLike,

They do not have a trading desk as there would be a conflict of interests but they do not have any qualms with employees doing their own trading.

Trading my own account shouldn't be much of an issues but I've yet to try it while working. Reason being I trade on the slightly higher TF i.e. 1HR and above so checking out the charts in the morning/noon and night should suffice I think.

Cheers!
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Your welcome. I would say go for it. As long as you can trade your personal account and continue your trading career, all is good. Double Income!!:thumbsup:
 
faatshit said:
Hi guys,

Would appreciate some advice from you guys regarding a job as a technical analyst/chartist.

I was previously from a prop firm but I left because I felt I could trade on my own albeit with a smaller amount of capital and less time required compared to day trading.

Do you guys have any inkling of an idea what's the career progression as a technical chartist/analyst?

The firm is a finance research house so they research a ton of markets and sell these info. firms i.e. banks/hedge funds/institutions/prop firms.
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a technical analyst/chartist = sales position.
I also used to work for a U.S global research and marketing firm and there I had to conduct both secondary and primary research for outstanding firms in certain industries.
Now I utilise that skills for my trading.

If you have superior information analysis skills, better utilise that skills for trading.
 
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