Career as FX technical analyst/chartist

At least I can attest that Carnegie Mellon's MSCF program does not even spend a single sentence or PPT slide on anything TA related. I mean in none of the courses across the entire program. I doubt I ever even heard the term moving average. Obviously the term "mean" came up a lot but in a different context.

TradeViper said:
No doubt, the basics are always covered, it is part of a well rounded education. On the series 3 test there are basic questions related to what folks call TA, its not like 50% of the test or anything like that, but, again there are questions. From what I understand, basic concepts of TA are still taught in various curriculums, but as with all things that fall into disfavor, its not really as emphasized as much as it was. `

The Ever Emphasizing

VIPER
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Hi Z, whats up, much respect. I found this on the, Carnegie Mellon Website, "and it is wholly owned by the original publishers and I make no claim that this is mine or of my origination, the italics in the second paragraph are mine for emphasis, not shouting or for insulting".

Now as everyone knows I'm not a trading or education guru but.....

Academics
The MSCF program is a joint venture between four Carnegie Mellon colleges: the Dietrich College for statistics, the Heinz College for programming, the Mellon College of Science for math and the Tepper School of Business for finance. Through the collaborative efforts of these four schools, you will obtain the knowledge and develop the skills needed for successful careers in trading, financial modeling, quantitative portfolio management and risk management.

Year One
Over the fall and spring of your first year, you will learn traditional finance theories of equity and bond portfolio management, the stochastic calculus models on which derivative trading is based, computational methods including Monte Carlo simulation and finite difference approximations of partial differential equations and statistical methodologies including regression and time series. A presentations course will provide one-on-one assistance and help you communicate your ideas before your peers. The Deutsche Trading Competition, offered on the Interactive Brokers Traders Workstation’s simulated trading environment provides real-world trading experience (and cash prizes.)

I know it doesn't specifically say technical analysis, but it really seems odd to me that there would be a usage of IB's workstation with no charts. Also as far as regression and time series, I guess you could do the calculations in your head, or with a pencil and paper, but I kinda find it hard to believe that a prestigious university would use a pencil and paper, rather than an indicator to plot regressions and time series.

But again maybe I am misunderstanding this point, I think that we have kind of derailed the OP's thread, and for that I am sorry OP to have participated. Usually the only threads I like to derail are TRO's, anyway, again sorry.

I really would like to continue this Z, maybe in the Tech Analysis forum, seriously I am very interested in your educational experiences, and how they relate to the markets and market products.

The Ever Curious

VIPER
 
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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It is more likely you were fired , they knew you are a clever monkey , and you became too clever for your own good.You overrode t/a set ups


THEY WERE APPY TO PAY YOU A GREAT BONUST TO GOH
 
algofy said:
it's obvious that surf and viper are the same person. More TA bashing in a different thread?
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Man, guilt by association, I gotta stop posting here, or get a better class of acquaintances :confused:

Ok so here is the skinny on surf and myself, again sorry to the OP but, gotta straighten this out. I have known of or in a way known Surf since the "90s and the "Surf Shack", I followed him back then. So even though we have never met, we have interacted for a very, very, long time. Very similar to my relationship with Jea Yu, and Woodie. Now, I am not a Guru, or Vendor, "though we did try the Introducing Broker deal, but Mr Wasserman kind of killed that".

Surf lives in WPB, I live in rural Wake County, NC. I light fires with a flint and striker, the closest Surf comes to lighting a fire is striking a wooden match to light a big fat Cuban stogie. Surf is married to an Eastern European "maybe still I hope". I am Married to a Cuban, 33 years by the way. Surf uses no technicals, ever never ever and he hates them, and thinks that anyone who does is an idiot. I use, ATR as a baseline, full stochastic, 13 and 5 emas, patterns, and levels. If you type my moniker into search you will find a site I have laid this all out on.

So as the great poet once said
"Or else I shall rend thee in the gobberwarts with my blurglecruncheon,
See if I don't!" :p
Oh and most of the time I disagree with the Surfmiester

So again Sorry OP, :( but that's it.

The Ever Kind Of Sort Of Finished VIPER
 
Southampton said:
Maybe try being a barrista at sbux? Technical anslysis will get you nowhere in the real world.
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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.
More...

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?
 
777 said:
It is great you want to be involved with the market and I would not discourage you from that. There are many ways to do this.

Since you write like a sincere fellow:

Please look into your heart and see if you really believe you are helping investors and traders with your "TA work". How much value if any will you really be giving the end consumer of your product?
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I'm not sure but apparently the firm seems to be quite sought after for the work they do.
I'll be going through some training in their methods of analysis and will be put under a couple of markets to look after.
 
Thanks a lot for your insights drm7!

They do favour CMT but it wasn't a requirement.
The sales part of the job is apparently done by the sales people I think. The analysts aren't required to do much of the sales but a lot of trade/idea generation daily.

drm7 said:
Usually that falls into the "strategist" category at the big banks. Very few jobs available - you need a degree from a top school (with top grades) just to get into an entry-level position working for the "chief strategist." It would also help to get your CMT certification. It is debatable how valuable it is, but having letters after your name helps.

You will quickly realize that, on top of doing good analysis, you need sales skills. Most strategists spend their time traveling around the country making presentations to clients. The ones have had the most success haven't been the smartest or the most "right," but the ones who were the best at marketing.
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faatshit said:
Thanks a lot for your insights drm7!

They do favour CMT but it wasn't a requirement.
The sales part of the job is apparently done by the sales people I think. The analysts aren't required to do much of the sales but a lot of trade/idea generation daily.
More...

If you are serious about this business, get a CFA. It's the platinum card for respect.

Hampton
 
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