The STA THE UK SOCIET Y WITH A GLOBAL REACH
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The UK’s professional body for Technical Analysts. Founded in 1968. The oldest of its kind in the world.
The Society of Technical Analysts Dean House Vernham Dean Andover SP11 0JZ tel: +44 (0) 20 7125 0038 info@technicalanalysts.com www.technicalanalysts.com
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Contents Part One About the STA What is technical analysis? Why do investment professionals use technical analysis? STA educational courses and examinations
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· STA Diploma 1 and 2 Courses · The Bronwen Wood Memorial Prize · Course teaching and topics · Examination processes post-Covid-19 STA e-learning and home study Technical analysis education for university leavers The STA as an Accredited Training Provider (ATP) STA qualifications and designations · Further voluntary qualifications in technical analysis · STA Fellowship STA members and their employers The value of STA membership STA professional partnerships STA and CISI professional ties
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Part Two STA Fellows 19 STA Executive Committee 20 STA ethics and code of conduct 22 Delivering excellence 23 STA examination statistics
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PART ONE
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About the STA The Society of Technical Analysts (STA) is an independent and not-for-profit organisation dedicated to the promotion, study, and understanding of technical analysis. Originally founded in 1968 as the Association of Chart and Technical Analysts (ACTA), the STA’s mission was to form a professional network to educate, share knowledge, and uphold the highest standards of technical analysis globally. In 1986, the STA became a founding member of the International Federation of Technical Analysts (IFTA) with STA qualifications fully recognised and accredited by IFTA and its member societies across 26 countries. In 2015, STA courses and examinations were also accredited by the CISI. Today, the STA stands out as the oldest, largest, and most widely respected professional body in the world for both UK and international technical analysts working in the global financial markets. Across the wealth, fund, and asset management sectors, around 1100 active STA members perform technical chart analysis for themselves and their clients with 40% of members practising overseas. As a result of the combined efforts of the STA and IFTA in their commitment to education, technical analysis is now considered to be a vital tool for all modern finance professionals — whether in the fields of asset management, quantitative research, or behavioural finance. For more than 30 years, the STA’s technical analysis educational courses have successfully equipped finance professionals, as well as private individuals, with the knowledge to derive targeted and reasoned insights into market dynamics — and in so doing, become fully accredited, professional technical analysts.
STA membership by geography (Rest of World: 0.8%)
UK
60% NORTH AMERICA
EU
14% MIDDLE EAST
2.9%
2.7% AFRICA
0.8%
APAC
18.8%
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What is technical analysis? “Technical analysis is the study of market action (using price, volume, and open interest), primarily through the use of charts, for the purpose of forecasting price trends.” John J. Murphy STA Fellow & author of “Technical Analysis of the Financial Markets”
Why do investment professionals use technical analysis? Where fundamental analysts study a security’s intrinsic value and the inherent causes of price behaviour, technicians aim to study price effects via the progression of price itself. Technical analysis looks beyond fundamentals, which include company balance sheets, profit and loss columns and quarterly results, to provide a deeper and more comprehensive assessment of the behaviour of individual asset prices. Technical analysts aim to combine a big-picture and forensic approach to assessing market behaviour, parsing historical data to identify patterns through the use of indicators, statistical analysis, and mathematical techniques. By identifying price trends and price behaviour over time, technical analysis provides all financial professionals with a comprehensive working framework for deciphering the interaction of buyers and sellers in any market worldwide. Technical analysts employ a broad array of specialist skills and as a result, play a vital role in supporting decision making for both institutional and retail investors - whether in asset allocation, security selection, or overall portfolio management strategy.
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STA educational courses and examinations The STA’s educational courses and examinations are officially accredited and recognised by IFTA as leading technical analysis qualifications. Financial or non-financial professionals who wish to join the STA as student members may do so for as little as £75 per annum. Those new to technical analysis commence their learning journey through attending online and in-person society meetings as well as through reading The Market Technician, which is the STA’s own professional journal. For students to become fully qualified technical analysts, they must successfully complete the STA Diploma 1 and 2 courses and examinations, both of which are CISI accredited and eligible for CISI CPD.
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STA Diploma 1 and 2 Courses Diploma 1 is comprised as follows:
• • • • • • • •
7-week online course 6 lectures plus 1 examination preparatory session of 90 minutes each Runs from October to December Teaches basics of technical analysis 120-question, multiple-choice examination over 2 hours Course cost £1,195 (up to 29/9/21) Examination cost £325 Examinations held in March, July, and December
The pass mark for Diploma 1 is 67% and merits are awarded to candidates who score 85% and above. The average total study time for Diploma 1, including lectures, reading lists, course revision, and the examination itself, is 80 hours. Diploma 2 is comprised as follows:
• • • • • • • •
12-week online course 12 lectures of 90 minutes each Runs from January to March Teaches advanced technical analysis and report writing 3-hour written exam Course cost £1,995 (up to 30/12/21) Examination costs £525 Examinations held in April and October
The pass mark for Diploma 2 is 60% and distinctions are awarded to candidates who score 85% or more. Following completion of Diploma 1, the average study time for Diploma 2 including lectures, reading lists, course revision, and the examination itself, is 120 hours.
The Bronwen Wood Memorial Prize The Bronwen Wood Memorial Prize is awarded to Diploma 2 papers scoring 90% or above. Bronwen was instrumental in developing both the STA Diploma examinations and its courses and was also a long-standing member of the IFTA Board and its Executive Committee. In addition to her work for education, Bronwen was herself a great technical analyst, rated one of the best by her peers globally, particularly for her work on the equity indices and individual shares. For both her contribution to education, and for her outstanding analytical skills, she was made a Fellow of the Society of Technical Analysts in 1993. Abdullah Abbasi and Victoria Scholar were joint winners of the Bronwen Wood Memorial Prize in 2020.
“The STA course was an excellent learning experience, and I am delighted to be named joint winner of the 2020 Bronwen Wood Memorial Prize”. Abdullah Abbasi “Having spent a lot of time focused on the fundamentals, the diploma taught me a whole new way of looking at the markets through technical analysis. I really enjoyed each week’s lectures and getting to know the expert technical analysts who teach the course as well. The exams have been extremely helpful for my career and I am thrilled to be the joint winner of this year’s Bronwen Wood Memorial Prize.” Victoria Scholar
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Course teaching and topics All STA courses are taught by market professionals, who are often renowned authors as well as Fellows of the society. By imparting their lifelong learning through developing others, the STA’s comprehensive syllabus covers a wide variety of technical disciplines including, but not limited to the following topics: • Chart types - Bars - Candlesticks - Point and figure - Ichimoku - Market Profile® • Support and resistance • Investor sentiment • Trendlines • Dow theory • Moving averages • Momentum indicators and oscillators • Risk management • Cycles • Elliott Wave Principle • Gann theory • Fibonacci studies • Market breadth • Market psychology • Behavioural finance • Basic quantitative trading systems
Examination processes post-Covid-19 Since the advent of Covid-19, the STA has successfully operated Zoom invigilation for both Diploma 1 and 2 examinations. Candidates with internet access and a PC/laptop with camera, mobile phone or iPad have been examined in line with standard in-person invigilation protocols. Following the success of Zoom invigilation, the STA expects to adopt this method of testing on a permanent basis. Examination statistics including candidate numbers and pass rates are shown in the Appendix.
Prof Richard Taffler of the University of Warwick New Approaches in Behavioural Finance, presented at the 2014 IFTA conference in London, brought to you by the UK Society of Technical Analysts
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STA e-learning and home study The STA created a Home Study Course© (HSC) in 2009. This is a learning option for student members who wish to cover Diploma 1 and Diploma 2 course material in their own time. The HSC is browser based and is fully downloadable for online or offline use on PC, Mac, iPad, or Android devices. The HSC, and its content, is wholly owned by the STA and is currently white labelled for use by the national technical analysis societies of Australia and Malaysia. Its content can also be used to prepare for the International Federation of Technical Analysts own certification process, exemplifying the global reach of the STA today. Since early 2020 when the economic effects of Covid-19 were beginning to be felt by other industries, the STA witnessed a strong interest in the HSC from student members. During this period, over 100 HSCs were sold. If purchased with the combined Diploma 1 and 2 examinations, the cost of the HSC is £1,295 per candidate.
Technical analysis education for university leavers For several years now post-graduate students from Queen Mary’s College, University of London have benefited from a summarised version of the STA Diploma 1 course. This course-based module comprises 5 lectures and a 1 hour and 50-minute final examination. A similar yet enhanced Diploma 1 course is also available to students from Kings College, University of London (KCL) comprising 8 lectures and the standard 120-minute examination. In 2020/21, KCL students showed significant interest in this course with average attendance of 65 to 75 students per lecture. In total, 60 students went on to register for the final examination. The long-term success of these university leaver courses illustrates the depth of interest by finance students in learning technical analysis as a discipline. By developing postgraduate students, the STA is playing its part in ensuring that students expand their professional skills base as they commence their careers in finance.
The STA as an Accredited Training Provider (ATP) As well as providing courses for individuals, the STA is also set up as an Accredited Training Provider (ATP) and organises in-house training for fund managers, wealth managers, asset managers, and other finance professionals on an ad hoc basis. STA course lecturers and MSTAs with sufficient market experience deliver in-depth and bespoke corporate tutorial programmes to many firms such as Barclays, Quilter Cheviot, JP Morgan, Investec, and many others. The impact of formal corporate education on the entire investment industry is perennially positive. As each finance professional acquires new-found knowledge of technical analysis, a better understanding of the discipline is felt across the broader investment community. In turn, and through the ongoing process of lifelong learning, the highest professional standards of technical analysis are maintained worldwide.
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STA qualifications and designations Students who successfully complete both diplomas are awarded the designation MSTA (Member of the Society of Technical Analysts).
STA Diploma Part 1 Course
STA Diploma Part 2 Course
MSTA
Following receipt of an MSTA designation, members can apply to the International Federation of Technical Analysts (IFTA) for Certified Financial Technician status (CFTe).
Application to IFTA
MSTA
CFTe
Further voluntary qualifications in technical analysis For members with combined MSTAs and CFTe status, further qualifications in technical analysis are available via postgraduate study through the IFTA Master’s programme. Candidates must write an original, practical research paper that contributes to IFTA’s existing body of knowledge. For successful candidates, the title MFTA (Master of Financial Technical Analysis) is awarded.
Student Member
MSTA
CFTe
MFTA
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STA Fellowship For the past fifty years, the STA has been proud to count on some of the most renowned and preeminent UK and global technical analysts as part of its membership. Of the society’s approximately 1100 active members, just 27 current members (2.5%) have been granted a lifetime Fellowship designation (FSTA). This prestigious accolade recognises expertise and diligent service to the technical analysis profession, demonstrating the high standard of work required to achieve this commendation.
John J Murphy Fellow Current Company: StockCharts.com
Tony Plummer Fellow
Robert Prechter Fellow Current Company: Elliott Wave International
Karen Jones Head of Marketing Current Company: Commerzbank
Deborah Owen Fellow, former STA Chair and Head of Education Current Company: Investment Research of Cambridge Ltd.
Axel Rudolph Fellow Current Company: Commerzbank
Luise Kliem Fellow Currently: STA Chief Examiner
Robin Griffiths Fellow and former Chairman Current Company: ECU Group
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Photographs from the 50th Anniversary on 7 June 2018 at the London’s Living Room - City Hall.
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STA members and their employers The STA’s respected courses draw students from all areas of finance — from traders, brokers, dealers, and analysts, to wealth managers, fund managers and portfolio managers. Professional STA members represent some of the largest institutions in global finance including the following names in wealth management, asset management, investment analytics and investment banking:
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The value of STA membership Given the STA’s history as the oldest, largest, and most widely respected body of its kind in the world, and being fully endorsed by IFTA and the CISI, the STA course and examination system represent a gold standard in technical analysis qualifications. The strength of teaching from course tutors and STA Fellows is represented by candidates producing consistently strong examination results. In March 2021, the latest pass rates for Diploma 1 and Diploma 2 were 83% and 87% respectively. For pass rates in previous years, please see the Appendix. Membership of the Society of Technical Analysts costs between £75 and £95 per year. The higher subscription rate is for members who have been awarded Diplomas 1 and 2 and have been granted the MSTA designation. Members enjoy the following benefits annually: • STA journal, the ‘Market Technician’ is published in March and September. • 11 monthly meetings with guest lecturers broadcast live and available on-demand. • Access to over 10 years of STA archived video presentations. • CISI Continuous Professional Development (CPD) points for our lecture-based courses. • CISI module and examination exemptions (both full and or partial). • Access to an online course forum. • Updates on industry developments. • Discounts on books, magazines, and software. • Access to the STA sponsored Alphamind podcast. • Social events including summer drinks and annual Christmas gala dinner. • Information sources and member-to-member engagement via the STA’s LinkedIn, Facebook, and Twitter pages. • Physical and online access to the STA library’s 1,150 books at the Barbican in London.
Previous key visiting speakers and lectures
Robert Prechter speaks on Elliot Wave and Socionomics
Zoom meeting with Robin Mesch on Volume Profile
Robin Griffiths on the outlook for markets in 2021
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STA professional partnerships As well as the STA’s foundation work with IFTA and more recently with the CISI, the society is keen to work with other financial associations where mutual educational values are closely aligned. Over recent years, the STA has taken an active role in mentoring smaller societies, such as the Malaysian and Myanmar technical analysis societies; offering both education and membership discounts. As mentioned previously, by taking an active role in leveraging its educational offering, the STA has been able to exclusively white label its HSC© for use by the individual technical analysis societies of Australia and Malaysia. The STA’s commitment to professional partnerships is further illustrated with Memoranda of Understanding having been signed with ACI UK and The Broker Club.
STA and CISI professional ties Following formal agreed accreditation of STA courses and examinations by the CISI in 2015, both societies continue to enjoy close relations. Several of the STA’s current and former Executive Committee members are CISI members, including STA Chair, Tom Hicks. Many STA members also hold CISI member titles and qualifications, further illustrating the crossover of skills between our societies.
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PA RT T W O
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STA Fellows Fellowship is granted to those individuals who have dedicated time and expertise to furthering knowledge and developing others in the technical analysis field. Fellows are often purveyors of leading-edge research having written books, research papers, or having contributed a significant amount of time to the STA via course module composition and or lecturing. Just 2.5% of STA members are Fellows, illustrating the prestige associated with the FSTA designation. Brief details of STA Fellows are below. Detailed biographies can be found on the STA website: Malcolm Blazey John Breame John Cameron Chris Chaitow David Charters Reg Coaker John Cuningham Jeremy du Plessis Nicole Elliott Prof Ronald Giles Robin Griffiths Karen Jones Luise Kliem Richard Lake John J Murphy Deborah Owen Tony Plummer Robert Prechter Martin J Pring Axel Rudolph Michael Smyrk David Sneddon Adam Sorab Henry Southworth Mark Tennyson d’Eyncourt Simon Warren Anne Whitby
Former STA Deputy Chairman. Former STA Chairman. Former STA Head of Education and Chief Examiner. ACTA committee member. Former IFTA speaker. Transition leader from ACTA to the STA. Wiley published author. Wiley and Harriman House published author, STA & IFTA module creator and lecturer for Point and Figure charting. Harriman House published author for seminal work on Ichimoku Cloud Charts. Contributor to STA Diploma course and university finance lecturer. Former STA and IFTA Chairman, and Bloomberg Press published author. Treasurer and long-serving board member. STA Chief Examiner. Founder and former Chairman of ACTA. New York Institute of Finance, Wiley, and Prentice Hall published author. Former STA Chairperson, Head of Education, and Bloomberg Press published author. STA guest lecturer, Wiley and Harriman House published author. Pioneer in the Elliott wave principle and Wiley published author. Author of fifteen technical analysis books. STA lecturer, Head of STA Education, former STA Chairman and Vice Chairman Europe, IFTA. Former STA lecturer, board member and STA Diploma 2 examiner. Former STA and IFTA board member, Managing Director and Global Head of Technical Analysis, Credit Suisse. Former STA Chairman and former IFTA President. Former STA journal editor. Former ACTA committee member, STA programme organiser, and STA company secretary. Past STA Treasurer, IFTA Director and IFTA Finance Committee Chair. Former STA Chair. Established STA courses at South Bank University.
Former STA Chairpersons, IFTA board members, STA Diploma course contributors, and STA Fellows, who are sadly no longer with us are: Donald Cornelius (d. 2014) Alec Ellinger (d. 1989) David Fuller (d. 2019) Elli Gifford (d. 2004) Philip Gray (d. 2021) Brian Marber (d. 2018) Ian Notley (d. 2008) Françoise Skelley (d. 2008) Harvey Stewart (d. 2002) Eustace Storey (d. 1990) Bronwen Wood (d. 2002)
ACTA Chairman and founding committee member. Founding member of ACTA and prolific author. STA guest speaker and author. ACTA to STA transition leader, STA speaker and twice-published author. Inaugural STA Chairman and Fellow of the Institute of Directors. Award winning technical analyst and Harriman House published author. Founder of both the CSTA (Canadian Society of Technical Analysts) and IFTA, pioneer in investment cycles research. STA Planning Committee member and visionary for the STA’s future. Formerly, Managing Director and Global Head of Technical Analysis, Credit Suisse. Author to “London Commodity Charts” read both in the UK and US and co-author of “A Post-War History of the Stock Market“. Doyen of UK technical analysis with work published across many titles including Investor’s Chronicle. STA examiner, teacher, and developer of the STA’s formal qualification in technical analysis. STA and IFTA board member.
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Tom Hicks MENG MSTA MCSI
STA Executive Committee The STA Executive Committee has a combined 300 years of experience in the financial services industry. The committee’s 11 volunteers, who receive no remuneration by the society, include industry professionals and highranking company founders and directors who are thought leaders in the field of technical analysis.
Tom Hicks MENG MSTA MCSI STA Chair and Head of Programmes • • • • • •
Co-founder of IFTM Capital, a systematic trading business implementing technical analysis. Fixed Income Trader. Ex Big Four Consultant. 15 years’ experience as a fixed income trader and salesperson. Experience and regulatory knowledge with numerous Tier 1 banks and asset managers. Joint organiser and host of STA monthly member meetings.
Clive Lambert MSTA Vice Chair • • • •
Founder and Director of Futurestechs, a leading independent technical analysis provider. Futurestechs is a 9-times Technical Analyst Awards winner. Company won its 4th Best Independent Research for Commodities Award in 2020. IFTA Board member.
Richard Adcock MSTA Vice Chair, Company Secretary, Education and Journal Committee • • •
Managing Director of Adcock Analysis Ltd., an independent technical research service, providing FX and rates markets insights. Former UBS Head of Technical Strategy, specialising in candlestick analysis. Former technical analyst at hedge fund Brevan Howard.
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Karen Jones BSc FSTA Treasurer • • • •
Managing Director and Head of FICC Technical Analysis at Commerzbank, winners of FX Euromoney Survey in 2019 and 2014. Forecasts and formulates Commerzbank global technical trading strategy, covering FX, fixed income, emerging markets, and commodities. 30 years of technical analysis experience. Former global FX technical strategist at Credit Suisse First Boston and technical analyst at Sucden (UK) Ltd.
Eddie Tofpik MSTA Head of Marketing • • • • • •
Head of Technical Analysis and Senior Markets Analyst at ADMISI. Producer of monthly technical analysis review of FX and selected commodity futures markets and other daily. and weekly technical analysis research. 2018 Game Changers Award nominee, Finance Monthly. 2016 Best Video or Podcast nominee, FXStreet.com Forex Best Awards. Member of FX dealers association, ACI-UK. Member of CISI. Affiliate of US Market Technicians Association.
Patricia Elbaz BA (Comb Hons) MSTA Education and Journal Committee • • • • • •
Independent Technical Analyst. Specialist in FX, equity and commodity markets. Former Foreign Exchange Manager - Technical Analysis at MMS Standard and Poor’s. Seminar leader for STA, French Institute of Bankers, Futures and Options World, ACI Monaco, Bloomberg, and French Association of Technical Analysts. University lecturer and examiner, ESCP and INSEEC business schools and University of Monaco. University lecturer for STA.
Jeff Boccaccio MSTA Programme and Third-Party Committee • Co-Founder of Rfactory Ltd. • Broad skills in IT, market analysis and trading. • Over 20 years’ experience in finance across Deloitte Consulting, UBS, and Barclays Capital (US, Switzerland, London). • Joint organiser of STA monthly member meetings.
David Watts BSc (Hons) CEng MICE MIWEM MSTA Systems and Website Specialist • • • •
Trading System Consultant and professional engineer. First involved with LIFFE markets in 1992, as provider of IT support and writer of trading model. Implemented technical trading model, Dunnigan’s One Way Formulae. Provided swing timing models for traders in the Butterworth Group and time series analysis tools for clients in banking and fund management.
Vince Harvey Non-Executive Committee Member Compliance Officer • • •
25 years’ experience in various roles and organisations. Also works on short-term specific issues around products/sales reviews, due diligence checking, financial crime processes, remediation exercises, and improving understanding across firms. STA Ethics Committee lead.
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STA ethics and code of conduct Members of the STA are expected to set an example of good conduct to those around them. This applies not only in the professional arena, but also in other areas of life where decisions made, may bring themselves, their firm, and technical analysis as a profession into disrepute. Members are expected to always demonstrate integrity. Indicators of integrity are: 1. compliance with relevant laws and regulation - including maintaining confidentiality, avoiding market abuse, etc. 2. acting within the powers allocated to you - not claiming to have more authority than you have. 3. acting in the best interests of those relying on your work - engaging in your activities with skill, care, and diligence. 4. exercising judgement - consider the advice of others but accept responsibility for your decisions. 5. giving credit to others where it is due. 6. preventing conflicts of interest wherever possible and managing/communicating those that cannot be avoided. 7. politely declining gifts or hospitality where accepting them could be seen as creating an obligation. 8. avoid acting in a way which could be discriminatory - recognising the benefits to you, your firm and technical analysis more widely from diversity and inclusion. 9. raising concerns about conduct that you observe in a way which facilitates discussion and resolution. 10. when attending any STA events or when being perceived as representing the STA you will act with propriety and in a professional manner.
Member disclosure requirements Members are required to inform the STA of any matter, which might impair their ability to perform duties or affect their professional reputation as a technical analyst. This includes matters which might adversely affect the reputation of the member, the member’s employer, or the STA itself. Examples of matters requiring disclosure are as follows (this list is intended as a guide and is not exhaustive): • • • • •
conviction for a criminal offence (other than a spent conviction or a minor motoring offence). the laying of a criminal charge, committal for trial or an arrest, if you are adjudged bankrupt or make any composition or enter into any deed of arrangement with your creditors or are subject to any civil action for debt. exclusion from or commencement of proceedings to exclude from a professional body. disqualification or commencement of proceedings to disqualify from acting as a director or corporate officer in the UK or elsewhere. recipient of any regulatory action in the UK or elsewhere.
Failure to comply with this code, may subject members to disciplinary action up to and including the termination of STA membership.
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Delivering excellence Read what recent students have to say about our courses.
“I just would like to say what a great course this is and also what a great bunch of people running it. I can’t wait for part 2.” Colin O’Keefe, student on the Diploma Part 1 Course 2020
“Course was informative and enjoyable. The lecturers were subject matter experts and knowledgeable.” Matt Fitt, Shell, student on the Diploma Part 1 Course 2020
“A very stimulating, educational experience with great friendly support.” Jon Lane, student on the Diploma Part 1 Course 2020
“I found the lectures to be highly engaging and informative whilst the teachers are all clearly top class technical analysts. In addition, communication via email was timely, helpful with great access to online resources.” Kunal Radia, Conoco Philips, student on the Diploma Part 1 Course 2020
“I have used charting systems daily for 35 years. I have learned more in 3 months from Part 1 than in the many years of selfteaching - it has been brilliant.”
“The course is the gold standard “undergraduate” for any aspiring technical trader or analyst, taught through a legitimate institution of industry professionals.” Kheval Dhokia, student on the Diploma Part 2 Course 2021
“High level of lecturers who makes the experience extremely qualitative.” Maxime Lelong, EDF Trading, student on the Diploma Part 2 Course 2021
“Most amazing course of my life.” Michail Retsinas, student on the Diploma Part 1 Course 2021
“Very positive experience, I can see my Technical Analysis skills have improved dramatically week on week.” Kimberley McKenzie, Liberty Commodities, student on the Diploma Part 2 Course 2021
“Good course with good applicable content to real market situations.” Drew Beasley, Redburn, student on the Diploma Part 2 Course 2020
“I found the STA Home Study Course wellstructured and of the highest level of quality. The flexibility of learning at the time and pace that worked best for me was really an impressive experience.” Abbas Ariff, HSC student who earned a Distinction in his diploma exam 2021
“The STA diploma really opened my eyes to a different way of thinking not only about markets but about myself too. Very grateful for the insightful lectures and I will be using the lessons learned throughout my career and beyond, thank you.”
“The content provided in the HSC was excellent and detailed, but really what stood out was the support provided by the STA. Whenever I had a question, there was always a quick response from the STA. Before and during the exam, the process was made incredibly smooth adding no extra stress to what was already a nervous time. I would thoroughly recommend that for someone that wants to get started and learning technical analysis, the STA’s HSC is definitely the place to start.”
Robbie Walker, BMO Capital Markets, student on the Diploma Part 2 Course 2021
Jamie Pakenham-Walsh, HSC student who earned a Distinction in his diploma exam 2021
Phil Sheppard, Schaefer Financial, student on the Diploma Part 1 Course 2020
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STA examination statistics Diploma 1 examination results This examination is a multiple-choice computer-based test covering 120 questions on technical analysis and lasts 120 minutes. The pass mark is 67% and merits are awarded at 85% or above. Since the coronavirus pandemic, the examination has moved to online invigilation via Zoom managed by the STA itself. Candidate totals, passes and pass rates are shown below. Number of candidates (overseas in brackets)
Passes
Pass Rate
Total candidates (per year)
2021
March
23
19
83%
23
2020
December
43
37
86%
74
October
10
10
100%
July
8
7
87%
March
13
10
77%
December
35
31
89%
December
(17)
10
59%
December
(7)
5
59%
July
9
5
71%
July
(4)
3
75%
April
(5)
5
100%
April
(7)
4
57%
March
18
12
67%
December
80
57
71%
October
(7) Malaysia retake
6
86%
September
(26) Malaysia
19
73%
March
14
13
93%
March
(9) Malaysia
4
44%
February
(28) Malaysia
19
68%
2019
2018
102
164
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Diploma 2 examination results This examination is a three-hour written examination, based in London and covers key skills such as professional report writing, essay skills, and specific knowledge to bring candidates to professional MSTA status. The pass mark is 60% and distinctions are awarded to candidates who score 85% or more. Since the coronavirus pandemic, the examination has moved to Zoom online invigilation managed by the STA itself. Candidate totals, passes and pass rates are shown below.
STA Diploma 2 examination results Number of candidates (overseas in brackets)
Pass Rate
% of Distinctions
October 2020
30 ONLINE
87%
10% (3 papers)
July 2020
15 ONLINE
80%
27% (4 papers)
Autumn 2019
26 (18)
73%
11% (3 papers)
Spring 2019
43 (20)
88%
5% (2 papers)
Autumn 2018
24 (15)
67%
4% (1 paper)
Spring 2018
76 (45)
68%
6% (2 papers)
Autumn 2017
32 (21)
75%
3% (1paper)
Spring 2017
52 (10)
69%
10%
Autumn 2016
22 (12)
82%
23%
Spring 2016
33 (5)
76%
6% (2 papers)
Autumn 2015
16 (12)
87%
None
Spring 2015
53 (24)
75%
9%
Autumn 2014
18 (9)
67%
6% (1 paper)
Spring 2014
85 (41)
67%
6%
Autumn 2013
40 (33)
77%
7%
Spring 2013
58 (16)
79%
9%
Autumn 2012
74 (36)
69%
3%
Table 2: Malaysia-only sittings, NOT included in the above Number of candidates
Pass Rate
% of Distinctions (of total papers)
January 2020
15
73%
None
October 2018
30 (26 Pribumi, 3 KRBB)
57%
3% (1 paper)
February 2018
33
73%
6% (2 papers)
May 2017
29
65%
3% (1 paper)
August 2016
40
75%
5%
December 2015
24
75%
4% (1 paper)
May 2015
15
80%
None
December 2014
23
65%
9% (2 papers)
