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You are here: Home / Trading Books / Book List For The Chartered Market Technician (CMT)

Book List For The Chartered Market Technician (CMT)

By Galen Woods in Trading Books on November 30, 2013

CMT Book ListYou have just signed up for the next Chartered Market Technician (CMT) test. You should spend your time studying hard for it. You should not waste time piecing bits of information together to find your study materials.

Let us help all aspiring Chartered Market Technicians with this one-stop resource page. Read on even if you are not enrolled in the CMT program, as this book list is also useful for any student of technical analysis.

Overview of CMT Reading Materials


Update 21 August 2017: The CMT Association has published books that cater to CMT examination preparation (as listed above).

Hence, the reading list below does not apply directly to the CMT examinations now.

Nonetheless, they are still relevant for any serious student of technical analysis.

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CMT Level 1

TitleNote
CMT Program Level 1 Reading Assignments (including MTA Code of Ethics)Print it out and use it as a guide for your CMT preparation.
Technical Analysis of Stock Trends, Tenth EditionFor CMT Level 1, focus on the chart patterns.
Technical Analysis: The Complete Resource for Financial Market Technicians (2nd Edition)This is a comprehensive guide to technical trading. Although the scope might be intimidating, remember that CMT Level 1 focuses on defining technical analysis concepts. Application and integration are for more advanced levels.
Technical Analysis Explained: The Successful Investor’s Guide to Spotting Investment Trends and Turning PointsPay attention to volume analysis, sentiment indicators, and cycle analysis.
The Definitive Guide to Point and Figure: A Comprehensive Guide to the Theory and Practical Use of the Point and Figure Charting MethodThis book is as good as it claims. However, the topics covered in CMT Level 1 are basic and you can learn them with free resources online.

CMT Level 2

TitleNote
CMT Program Level 2 Reading Assignments (including MTA Code of Ethics)Print it out and use it as a guide for your CMT preparation.
Technical Analysis of Stock Trends, Tenth EditionThe scope for CMT Level 2 is narrower and covers miscellaneous topics.
Elliott Wave Principle: Key To Market BehaviorThis is the definitive guide to Elliot Wave Principle.
Trading Systems and Methods, + Website (Wiley Trading)A more quantitative view on technical analysis.
Technical Analysis: The Complete Resource for Financial Market Technicians (2nd Edition)The scope of this book for CMT Level 2 is smaller because the focus is on the application.
Japanese Candlestick Charting Techniques, Second EditionSteve Nison is a candlestick expert and his book is a worthwhile investment. However, CMT Level 2 covers only the basic candlesticks topics, which you can learn them from free online resources.
Investment Psychology Explained: Classic Strategies to Beat the MarketsPsychology is an important but often neglected topic in technical analysis.
Technical Analysis Explained: The Successful Investor’s Guide to Spotting Investment Trends and Turning PointsCMT Level 2 covers specific topics like sector rotation, cycles, and automated trading systems.
Excerpt from Technically SpeakingFree resource provided by Traders Press Inc.
Evidence-Based Technical Analysis: Applying the Scientific Method and Statistical Inference to Trading SignalsA very technical book. But not to worry, there are only 4 chapters to cover.
The Definitive Guide to Point and Figure: A Comprehensive Guide to the Theory and Practical Use of the Point and Figure Charting MethodCMT Level 2 delves into the advanced Point & Figure techniques in this definitive guide.

CMT Level 3

TitleNote
CMT Program Level 3 Reading Assignments (including MTA Code of Ethics)Print it out and use it as a guide for your CMT preparation.
Technical Analysis for the Trading Professional, Second Edition: Strategies and Techniques for Today’s Turbulent Global Financial MarketsThis book covers some advanced concepts of technical analysis, including periods for oscillators, and reverse engineering of indicators.
The Definitive Guide to Point and Figure: A Comprehensive Guide to the Theory and Practical Use of the Point and Figure Charting MethodThis is the third time you are reading this book. Try integrating the concepts.
Elliott Wave Principle: Key To Market BehaviorYou have already read half the book. Finish it and become an Elliot Wave pro.
Behavioural Investing: A Practitioners Guide to Applying Behavioural Finance (The Wiley Finance Series)The reading assignments in this book are taxing but interesting to read.
Trading with Intermarket Analysis, Enhanced Edition: A Visual Approach to Beating the Financial Markets Using Exchange-Traded Funds (Wiley Trading)Inter-market analysis has become extremely important with increasing globalization.
Japanese Candlestick Charting Techniques, Second EditionThe focus is on integrating candlesticks with other analysis, including candles with moving averages.

Do I need to buy every single book for the CMT program?

The short answer is no. You do not need to buy every single book. But you do need to read them.

You can try to borrow the books from your friends and your library, or rent them. You can also look out for past candidates in trading forums, and borrow or buy the books from them. A different edition is not fatal, but make sure that you are reading the right chapters as the chapter numbers might have changed.

However, I recommend that you buy at least the 5 books needed for more than one level of CMT assessment. This bundle of books (listed below) is not only a time-saver but also a set of excellent reference material.

Title
Technical Analysis of Stock Trends, Tenth Edition
Technical Analysis: The Complete Resource for Financial Market Technicians (2nd Edition)
The Definitive Guide to Point and Figure: A Comprehensive Guide to the Theory and Practical Use of the Point and Figure Charting Method
Elliott Wave Principle: Key To Market Behavior
Japanese Candlestick Charting Techniques, Second Edition

I hope you find this article useful. And I wish you all the best for your CMT examinations.

All Amazon links in this article, like the others in Trading Setups Review, are affiliate links. We get commissions for your purchases but you do not pay anything more. Click through our links to buy your study materials if you find this guide useful.

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Comments

  1. Mahesh says

    March 15, 2016 at 3:04 PM

    Sir I am a 40 year old person , trading in equity market since last 15 years.
    I have traded more than 500 crores in f&O
    Without bieng technical knowledge.
    Sir many times my intutions are such that even a technical analyst can’t provide.
    I get this through rigorous watch out of markets and meditation (spiritual adhyatamm.)
    Sir please guide me whether I should do the course at this age.
    Waiting for your reply THANKYOU

    Reply
    • Galen Woods says

      March 17, 2016 at 1:00 PM

      Thanks for the comment. CMT offers a structured way to learn about technical analysis or to certify your knowledge for professional purposes, if that’s what you’re after. If you are fine with learning technical analysis on your own, you do not need to join this program.

      Reply
  2. Bili says

    October 14, 2017 at 4:42 PM

    But you didn’t mention which chapters to read. Kindly update this article with chapter numbers. It will be very helpful for us.

    Reply
    • Galen Woods says

      October 17, 2017 at 12:17 PM

      The first item of each table links to a PDF that shows the chapters covered in each book. But as mentioned in the update above, there are official CMT textbooks now that might be more appropriate for CMT prep.

      Reply

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