In high school, I got a post card from the Air Force recruiter. I felt honored, assuming he had heard about how successful I was and wanted me to work with him. Later I learned they send those cards to everyone in the country.
But that card brought me to the recruiting office, and I was accepted into Officer Training School.
My first assignment was to the Pentagon where older officers would take young ones like me under their wing. One older colonel explained to me that Air Force pay would be enough to live in comfort, but if I wanted wealth, I needed to invest in the stock market.
I took his advice and bought shares of a mutual fund in early October 1987. The market crashed, and I lost about half of my money. My account quickly recovered, and I realized the stock market would create wealth for anyone.
The military then gave me a chance to learn more about the stock market. There are long days at work in the military, but much of the work is done in locations where there isn’t much to do besides work. I was sent to Iceland for a year and spent my off-duty time reading everything I could find about the stock market.
That was all I did for a few years.
As I read, I discovered professional organizations and certification programs for the financial services industry. I pursued many of the typical training programs and passed tests required by the Securities and Exchange Commission including the Series 7, Series 63 and Series 65.
I also learned about the CMT Association and the Chartered Market Technician (CMT) exam. This is a rigorous program for market professionals to demonstrate knowledge about technical analysis. I passed all three exams and earned my professional designation after I accumulated the required experience as a market professional.
Since earning my CMT, I’ve been active in the organization. I chair the Ethics and Standards Committee, and I led an initiative to adopt the highest ethics in the financial services industry. I also edit the Association’s monthly magazine and have served as the associate editor of the peer-reviewed Journal of Technical Analysis. These roles allow me to gain exposure to the newest ideas in the industry, and they give me access to many professionals whenever I have a question.
Over the years, I’ve also graded CMT exams and written test questions. I’ve even taught exam prep courses through the New York Institute of Finance (NYIF). I still teach technical analysis at the NYIF, usually offering a comprehensive three-day course in New York City once or twice a year.
Sign Up for Smart Profits Daily
Get free daily insights from the investing experts at Banyan Hill and become a smarter, safer and more profitable investor!
Michael Carr uses his decades of experience as a trading system designer to deliver a strategy that beats the market, pinpointing options on the SPDR Dow Jones Industrial Average ETF Trust (DIA) with the highest probability of delivering gains every week.
After spending 10 years perfecting it in his own account, Michael Carr was able to develop a four-line code that pinpoints stocks at the exact moment they are ready to take off — or, as he calls it, stocks that are hitting their “peak velocity.” For that reason, it has the potential to make a million dollars for users … in just 18 months.