“Should I get a CMT?” This is a question that pops up regularly across the internet. As someone who passed the level 3 exam back in 2011, I feel that I am qualified to respond to this.
The short answer: Maybe.
It depends on what you hope to get out of it, and where you live.
If you are looking to become a better analyst, the CMT program might be for you. It is a rigorous program covering a broad range of subjects within technical analysis. You will be exposed to a variety of topics and maybe open your eyes to things you didn’t know existed.
It is not a requirement of the CMT program that you actually use everything you learn or buy in to every methodology or every indicator. When I was going through the program, it was required to learn Elliott Wave Theory. I have not found much use for it since then. At least I understand what it is about and why I don’t use it in my analysis.
Even from a long distance away, I can almost hear you saying “Can’t I just learn it on my own? There’s tons of information on the internet.” Yes, you could.
Will you know what to learn? Will you know that what you are reading is correct? The CMT program will provide you with a curated and well-organized path.
In this case, you are probably better off skipping the CMT program. To be honest, there are very few advertised job openings ever where having “CMT” after your name is a benefit. Technical analysis is part art and part science. Most employers today are seeking math or programming skills. Nobody wants your analysis.
This situation is either mitigated or magnified, depending on where you live. If you live near a financial hub or some place with a critical mass of other CMTs, then you might benefit from networking at events organized by the CMT Association. Otherwise, you will be limited to online “webinars”, which are more often meant to sell than to teach or interact.
Finally, if your current employer has agreed to pay your exam fees and annual dues, then it should be an easy decision to do it. There is still a time cost to study the material, but this is something you should want to do anyway.