STA diploma course, home study - anyone?

Hi there - first post (ever) so be gentle with me! Yes, I did the STA Home Study course earlier in the year. It's a 700-page odd CD-ROM covering everything from oscillators, candlestick patterns etc through to Gann Theory and Market Profiling. I'd been trading for about a year before I did it and it is a great (although expensive) way of quickly getting up-to-speed with all the various aspects of TA. It is does not go into great length about how to use each element but does explain the advantages / disadvantages of each, is very clear and concise and is well laid out (and therefore excellent reference source after you've finished your studies). I'd recommend it on balance and of course it does open up the Society itself which in time should be good for making contacts etc. What I would say though is that the vast majority of people who do the course already work in TA for the big banks. As a privateer, you'd definitely be in the minority! I would also suggest that it is worth doing the exam. It's another few hundred quid (gulp!) BUT it does focus the mind and gives you a few letters after your name (good for the CV and if you ever wanted to go into teaching TA as a subject). Be wary though of buying the whole recommended reading list - very, very expensive and you will not need all the books they suggest. Very happy to give you some pointers about this (and anything else) if you decide you're interested. Just let me know. Good luck!
 
Thanks Black Tulip. Can you contact me PM? Please check your inbox.

Anyone else had that same pleasure of having STA course and exam?
 
I'm currently doing the course now. I'm doing the same as Black Tulip. And I agree with everything he has said, its a great package which contains a good base to work from.

Black tulip, I know the exam is 3 hours long. But could you give me any details about it? Such as, is it essay based? Multiple choice parts? Anything would be useful.

Thanks

p.s
First ever post too :)
 
Brad Marriott said:
I'm currently doing the course now. I'm doing the same as Black Tulip. And I agree with everything he has said, its a great package which contains a good base to work from.

Black tulip, I know the exam is 3 hours long. But could you give me any details about it? Such as, is it essay based? Multiple choice parts? Anything would be useful.

Thanks

p.s
First ever post too :)
Click to expand...

Hi Brad,

The exam is, as you say, 3 hours long during which time you have to do the following:

a) Analyse about 14 charts of the same security over different time periods with different indicators in order to produce a report which provides a short-, medium- and long-term forecast with supporting evidence. This carries 60 marks (i.e. 60% of the overall marks available) and you must obtain at least 30 marks in order to pass the exam. If you don't, it does not matter how well you do on the rest of the paper.
b) Write an essay (from a choice of 2) on the general topic of technical analysis. Usually it deals with either how it differs from fundamental analysis or answering its critics (20 marks)
c) Write 2 more technical essays (from a choice of 5) on subjects such as gaps, candlesticks, chart patterns, particular oscillators / indicators etc (10 marks each).

There is a lot to cram into 3 hours and I would strongly recommend getting hold of a few papers (available from the STA) and doing a practice run first. It is very tempting to spend too much time on analysis in question 1 and not enough time writing the report.

Good luck with it all! If you need anything else, let me know!
 
Ah thank you so much! I thought it would be something along the lines of that but had wasn't too sure. So what is the passing mark? Are their grades as such, for example if someone gets 90% would it be different from getting a 60% mark.

Thanks again!
 
I brought the CD ROM a year back. I could not work out all the secret codes and stuff just to access a CD ROM you have already brought! I handed it back. Buying £150 worth of TA books is significantly cheaper.
 
Aston1st said:
I brought the CD ROM a year back. I could not work out all the secret codes and stuff just to access a CD ROM you have already brought! I handed it back. Buying £150 worth of TA books is significantly cheaper.
Click to expand...

Aston, I've just received a mail about a course for this, what is this society? I've heard of and met some of the MTA Market Technicians Association so whats it all about?
 
Last edited:
Hello everyone,

This thread stopped completely - I am a newbie to TA and looking desperately to get a strong foundation to get into the TA world. Can anyone tell me if the HSC is effective to cover the contents for the Dipl exam? How much extra reading or preparation hours is required. I really want to do this course and get the STA - dipl. Just reinforcing myself to spend money and learn by myself. Please help. Thank you very much.

Thank you
Philip
 
I think i am going to take the course - i work in the industry but not as a TA trader so would see the benefits as networking as well as a good environment to learn. Would also be keen to hear of anyone elses experiences
 
Hi everyone. Did the Home Study course (HSC) about 18 months ago so given my experiences of that and my subsequent membership of the Society of Technical Analysts, I'll answer the last 2 posts together:

1. The HSC is almost enough to for the exam (as I've said before, it is well presented and pretty comprehensive) but I would buy a couple of the books from the STA list for more in-depth information. These also prove very helpful once you're 'live' trading. I would recommend the John J. Murphy book "Technical Analysis of the Financial Markets" and Kirkpatrick's "Technical Analysis" (2nd Edition)
2. Be in no doubt, it is a tough exam and, as a newbie, you will need to put in the hours I'm afraid. Rough estimate 6-8 weeks minimum, 6 hours a day. Commitment (time, self-discipline and money) not to be taken lightly. Also, a couple of practice runs of the exam is essential (see my previous threads). On the plus side, it does "turbo-boost" your theoretical TA skills and expose you to a very wide-range of different theories and applications. No substitute for actual trading though clearly.
3. To answer pugg078's post, I would respectfully suggest that you should only take this exam if you really, really want a TA qualification - as I said above, it requires some serious financial and time commitments and if all you want are networking opportunities, there might be easier routes into that (maybe some kind of Affiliated Member of the STA - they always seem to be running seminars / meetings / meet the experts etc) . You do say though that you are looking for a "good environment to learn" and this is undoubtedly a very good vehicle for learning - to have to pass an exam at the end of the course certainly helps focus the mind.
4. And has it all been helpful 18 months on? Answer is an undoubted yes. I have an infinitely better understanding of what's "out there" in terms of tools and techniques (Gann, point & figure, Dow Theory etc etc) which has enabled me to pick the ones which I like / understand best to help improve my trading.

Hope this helps. As always, happy to answer any queries. Good luck!
 
Some questions regarding ichimoku & marking in STA exam

Hi, Black Tulip,

I have also purchased the STA HSC recently, and is going over the materials. As the LockLizard reader software is only valid for my desktop and not for my tablet, I can't read it while I am on the move, so the progress has been slower than what I had hoped.
As I am pursing both CMT as well as STA Diploma, a lot of reference books have already been on my bookshelf. However, since the focus of the 2 exams syllabus are a bit different (On top of typical TA topics like Dow Theory, Candlestick, P&F, Cycle, Trendline, Patterns, Momentum, etc, CMT exam put more emphasis on intermarket analysis, statistical method and system testing; STA dip test you Ichimoku Cloud & Gann, at least that's what I perceive), I purchased the STA HSC mainly to ensure I don't miss out any topic needed for the exam. I would say their coverage of Gann introduction is pretty good and clear, but I kind of disappointed that they have not updated the course to include coverage of Ichimoku Cloud (which was included in exam syllabus since 2010).
I presume you have studied and cleared the Level 2 exam already, would you share with me if you have used both Nicole Elliott and Linton's books for your study on Ichimoku Charts?
Also, STA have declared an overall passing marks of 60% for Level 2 exam, but as scoring & marking standard in essay questions are not as clear cut as in MCQ, care to share your exam experience? Any guideline or tips would be highly appreciated.
Thank you in advance!
 
Hi Trader T,

Many apologies for the delay in getting back to you. Various reasons which I won't bore you with!

Yes, the STA and Ichimoku Clouds is a bit of a funny one. Clearly it is part of the syllabus BUT not part of the HSC. I pointed this out to them and they did send me some information about ICs but it was pretty weak frankly and not up to the same standard as the rest of the HSC course. Put it this way, if they had asked me about ICs in the exam, I would have asked for my money back!

To be honest and in light of the STAs apparent attitude to ICs, I didn't study them in any great detail so don't know either of the 2 books you mention - sorry.

As for the exam, a previous post of mine (1st November, at the start of this thread) outlines what to expect on the day in terms of marks etc. My top tips, looking back, would be:

1. It is hard work. Be prepared for this. You will need to know the HSC really well just to pass.
2. "Technical Analysis of the Financial Markets" by John J Murphy is a really useful study aid. It explains things when they're not clear in the HSC or you need a more in-depth explanation.
3. Get some example papers - available for a price from the STA - and practice at least once under 'exam-like' conditions if you can. This is invaluable and quite a surprise because you will need to:
4. Plan your time in the exam. It is much too easy to spend too much time on the main question, without leaving enough time for the essay questions. Clearly the main question is the most important and you need to achieve a minimum mark but don't forget the rest!
5. I know this is pretty obvious but answer the question asked! For example, in the main question, they ask you for short, medium and long-term forecasts for the instrument(s) in question, giving reasons. Structure your essay around these elements and be punchy! They will see your a lot of your workings-out on the charts themselves (trendlines, support / resistance etc) and know pretty quickly whether you know what you're talking about!

I really hope this helps. Don't hesitate to ask anything more and I'll try to get back to you a bit quicker next time! Otherwise. I wish you good luck!
 
Black Tulip,

Thanks for your reply.

I think I don't get any better treatment from STA people either, so I just get a very basic reading on these 2 books, so as to get to know the theory a bit.
I have not use Gann or market profile in my trading, and is feeling a bit silly just to study for exam.

As I am not very good in writing, just don't know if I answer in point form will be sufficient, or will I be penalize by getting lower points.

Also, I realised that the 1st question actually account for a big churn of score, so I have a very basic question regarding trendline.
As Martin Pring always stress in his book & video that trendlines have to draw connecting price extreme (means period low or high), but I have seen a lot of analysts and traders draw trendlines just connect the real body of candles. What is your take? This could result in slightly different price target level.

Hope to hear from you soon.
 
Dear Trader T,

I'm afraid the answer really is 'whatever makes sense to you'! Generally speaking though, I would use the highs and lows to draw a trend-line.

I'm sure you will already appreciate that there are many ways of using trend-lines to help you identify what the price action is doing - channels, fans, speed-lines, relative steepness etc. If this an area which is of particular interest - and why not - then the John J Murphy book I have mentioned previously is simple to follow and very informative.

Hope this helps,

Kind regards
 
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