* YESFX Trading Academy posts 93% employment rate for technical analysts *
By Kyriakos Charilaou, CFTe, MSTA
Head of Technical Analysis Research Department and Director, YESFX Ltd
YESFX Trading Academy has recorded a 93% employment rate for all successful graduates who have passed the STA Diploma exam preparation course and our warmest congratulations go to our students who passed the April 2012 examination.
YESFX Trading Academy is the only technical analysis centre in Cyprus which prepares candidates to become U.K.-qualified technical analysts and also recognised by the International Federation of Technical Analysts (IFTA) of the United States.
Our Trading Academy focuses on two main areas: firstly for participants to pass the exams and become qualified technical analysts; and, secondly to get a job in the financial sector (especially in the Forex industry) as Dealers, Traders or Technical Analysts.
According to one of the instructors of the Trading Academy: “Most of our students get employed within 6–8 months from the moment they enroll in our STA Diploma Exam preparation course. The main reason is that here students not only learn the theoretical aspects of technical analysis but also get a good understanding of the practical application of technical analysis in trading. They also learn how to behave in an interview, get a real grasp of what is actually going on in the FX Industry and, more importantly, get the knowledge of how to use this knowledge to actually “sell” themselves in an interview.”
According to research conducted this year, job openings in 2011 for the FX industry have increased to 13.6% (or one in every six new positions). According to 2012 data, the number of companies which choose Cyprus as their base (mainly because of Cyprus taxation system) is currently at 210, a number which has been increasing steadily throughout the past four years. As a result, there is great demand, mainly from FX Brokerage firms for qualified technical analysts since statistically they are performing better than any other holders of a relevant financial degree or professional qualification in the sector, as they specialise on trading and charting analysis.
Another important point is the starting salary of a Dealer, Trader or a Technical Analyst. The average starting salary of a Dealer is set at 1,800 euros monthly, for the Trader at 2,500 and for the Technical Analyst at 2,000, always based on experience and skills.
According to Kyriakos Kakofegitis, instructor of the Trading Academy: “Obtaining the STA Diploma qualification is a real asset for job seekers and is really very much appreciated by employers in the FX Industry. However, we strongly recommend our students to try to get the CySEC licenses, since combining the STA qualification with the CySEC license really offers the student a unique competitive advantage in the job market and a much better salary”.
THE U.S. LAW FOR TECHNICAL ANALYSTS
During the past 5-6 years a lot of criticism and conflicts have taken place between the Fundamental and the Technical schools of thought. Finally, it seems that the technicians have started to win this “battle” and aim through their performance in trading to have a law voted in 2013 which will state that every brokerage firm in the U.S. will be obliged to have at least one qualified technical analyst in the dealing room mainly for analysis and trading purposes. Having in mind that the United States is the home of technical analysis trading and whatever happens there eventually ends up in Europe, no one should be surprised if such a law is adopted by the European Union as well within the next 2 or 3 years. As a result, the demand for qualified technical analysts will grow even more and we expect the salaries to rise as well.
ATTENDING THE YESFX TRADING ACADEMY
Our academy posts a very high employment rate among successful candidates who pass the STA Diploma Exams and become qualified technical analysts. So, we believe that our Academy provides a passport of employment in the Financial Sector and more particularly in the FX Industry, an industry which posts $5 trln of daily turnover worldwide!
Further, during the course candidates will get hands-on experience on technical trading and will learn the practical application of technical analysis. We do not concentrate on theory but more emphasis is placed on the practicability of technical analysis concepts and how each trader should use them in order to improve his or her performance on trading.
Our new STA Diploma Exam preparation course starts on the October 12. We cannot accept more than 12 people mainly because we want to make sure that our students get a job and are quickly recruited by the market.
Concluding, here at YESFX, as a technical analysis training centre, our vision is to promote technical analysis as the most valuable tool of investing in the financial markets. The real value of the students who enrol in our academy is the experience of our instructors and their ability to combine technical theory and practice. If you are interested call us on 7000 22 15 or visit our website at www.yesfx.com.cy
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