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Professional Trader Curriculum

Course Agenda - Part 1 (Days 1 - 3)

Day 1

• Trading – Definitions and Skills
• Market Terminology
• Reading Market Data
• Using Level II Screen and Data
• Electronic Communication
• Networks
• Economic and Market
• Conditions
• Economic Indicators
• Market Indicators
• Industry Analysis

Day 2

• Basics of Technical Analysis
• Support/Resistance
• Understanding Trends
• Reversal Patterns
• How to Use Volume
• Trading Styles
• Finding Stocks to Trade
• Stock Picking Criteria
• Risk Management with Level II

Day 3

• Preparing for Live Trading

Trading Executions

• Order Types
• Selling Short - Making Money When Market Goes Down
• Live Trading
• Using Level II
• Developing a Trading Plan
• Preparing for the Trading Day
• Plan the Trade, Trade the Plan
• 10 Laws of Risk Management

Course Agenda - Part 2 (Days 4 - 7)

Day 4

Live Trading & Trade Analysis

Start Each Day with an Outlook

• Pre-Market Trading Environment
• Where are the Closest S/R Levels
• The Slightly Bigger Picture
• Does the Market Fit into the Picture
• Roadmap to Risk Management
• Trade Plan
• Market Opens
• Plan Review
• Use All Available Information to Form an Initial Viewpoint

The Market Day – 8 Key Times

• First Reversal
• Second Reversal
• The Doldrums
• Cinderella Hour
• Short Covering Rally
• Closing and its Parts

Who’s the “Hammer”

• The “Hammer Spread”
• Gate Keepers – Axes & Hammers
• The Hammer…Price Between Blows

Secrets of Shorting

• More Than One Possible Entry
• Going Short
• Shorts Can Be Wonderful
• What will the Level II Box Look like?
• Let the Platform Help
• How Would You Get Short Now?
• Golden Nugget Secret for Shorting

Live Trading & Trade Analysis

Stock Analysis – Fundamental vs. Technical

• Fundamental Analysis
• Fundamental Stock Price Estimate – P/E
• Fundamental Stock Price Volatility - Beta
• Competitive Analysis

Technical Analysis

• Basic Chart
• Drawing Support & Resistance Lines
• Support & Resistance
• Initial Trend Line
• Trust the Trend Line
• Moving Averages
• Classic Moving Averages
• A Nest of Moving Averages
• Works the Same in Different Time Frames
• Simple vs. Exponential Moving Averages

The Role of the Market Maker

• Know Your Market Maker
• Wire Houses
• Investment Banks
• Wholesalers
• Regional Firms
• Level II Scenarios
• If They Tell You to Buy
• For Your Benefit…or Theirs?

Day 5

Live Trading & Trade Analysis

Continuation Patters

• Types of Patterns

Trend Reversal

• Bump & Run
• Double Top
• Double Bottom
• Head & Shoulders Tap
• Head & Shoulders Bottom
• Failing Wedge
• Rising Wedge
• Rounding Bottom
• Triple Top
• Triple Bottom

Trend Continuation

Ascending Triangle

• Descending Triangle
• Symmetrical Triangle
• Cup with Handle
• Flag, Pennant
• Price Channel
• Rectangle
• Measured Move (Bull)
• Measured Move (Bear)

Symmetrical Triangle - Bearish

Ascending Triangle - Bullish

Descending Triangle - Bearish

Bullish Flag

Bearish Flag

Bull Pennant

Bear Pennant

Bearish Wedge – Asymmetrical Triangle

Multiple Patterns - IntraDay

• Cup with Handle
• Volume of Pressure
• Intraday Volume at Key Times
• Volume Pace Required to Break
• High Volume on Breakout
• Low Volume on Pullback
• Volume Drive Price
• Climactic Volume

NASDAQ PMI – What Will the Gap Be?

Gaps – What are they?

• Common Gaps
• Breakaway Gaps
• Breakaway – Intraday Behavior
• Runaway Gaps
• Exhaustion Gaps
• When is a Runaway Gap an Exhaustion Gap?
• Island Reversal Pattern
• Upside Opening Gaps
• Trading the Opening Gap Fade
• Sheldon’s Gap Reaction Barometer
• Opening Gap Fade
• Trading the Gap

Live Trading & Trade Analysis

Key Reversal Days

Reversal Day

Technical Indicators

• MACD
• Linear Regression
• RSI
• Stochastics
• Bollinger Bands

Technical Indicator Traps

Moving Averages – Convergence/Divergence (MACD)

The 12 & 26 Period EMAs

MACD with All Four Elements Shown

Positive & Negative Divergences

Linear Regression Channel

Relative Strength Indicator (RSI)

Stochastics

Bollinger Bands

Intraday Bollinger

Day 6

Live Trading & Trade Analysis

Current Status of the Market

• Candlestick Patterns
• Basic Candlestick Forms
• Candle East/West Translation
• Harami
• Basic Reversal Patterns
• Engulfing Pattern
• Evening Star
• Morning Star
• Dark Cloud Cover
• Hammer
• Shooting Star
• 3 White Soldiers
• 3 Black Crows
• Hanging Man

Live Trading & Trade Analysis

Leonardo Pisano Bonaccio - Fibonacci

• Fibonacci Retracement Levels
• More Ratios
• 3 Major Ways of Looking at Fib
• Retracements
• Fibonacci Extensions
• Clusters or Confluence
• Fibonacci Time Zones
• Fibonacci Fans
• Projections
• Fib Profit Objectives

Elliott Wave Theory

• 5 Up and 3 Down
• 10 Survival Skills

Day 7

Live Trading & Trade Analysis

Breakouts

• Breakouts – Breakdowns Criteria

Hunting Swings

Stress Management

Treat Your Trading as a Business

• Business Plan – Tax Law/ Legal entities
• Who Should Do Your Taxes?
• Trading as an investor
• Disadvantages of being treated as an investor
• Trader in Securities definition
• Traders in Securities Advantage
• Publication 550
• Sole Proprietorship Limitations
• What is a Legal Entity
• Entity Combinations
• The Basic Combo Model
• Mark-to-Market Accounting
• Tax Treatment of 1256 Contracts
• 401(K)’s
• 12 Reasons to Trade as a Business

Psychological Warfare

• Trader Psychology

Putting It All Together