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Dr. Ralph W. Swanson wrote:
>
> There have been comments recently regarding Commodity Trading Advisors)
> CTAs. Can anyone tell me the qualifications required for CTA certification
> and registration. Also, who does the certification?
> In past posts I mentioned that I can write BS, MS, PhD and CPC behind my
> name. All took years of hard work in my profession. In the trading world
> they don't mean much. It's the experience, emotional stabiltiy, patience
> and determination that carries the day for successful trading. Plus, of
> course, a unique sixth sense when applying indicators, reading and
> understanding charts as well as understanding fundamentals. And this
> represents harder work for me than all of the above ABCs.
> From what I understand CTAs occupy a special place in the trading world.
> Any comments?
>
> RWS
RWS,
I wouldn't say "special place". Being a CTA is certainly not a sure
indication of being a profitable trader, let alone a market wizard.
There are MANY bad ones out there who will rip you off. The recent
rules which make system and newsletter vendors register as CTA's makes
it even more confusing. Many CTA's do not and never have managed real
money.
It is very easy to become registered as a CTA. Just fill out the forms
and pass a simple general knowledge test and pay a fee. There is a
background check also, but few are turned down.
At the point you are actually handling public funds, there are quite a
few regulations and hoops to jump through and they track you fairly
closely; but it still is not foolproof.
Eric
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