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Later I began to add charts to explain my thoughts. As you will see in the manual, the charts become better and more organized as I learned how to create and combine them with the text. Early in the course development, students were sent this Manual as a computer file and they would print it out themselves. But ultimately the Manual grew so large that it was very unmanageable for the student to print. As the course has gone on, it has been students who have driven the development of the material. As a result of student questions, I added material and charts almost weekly.
When Michael took over the course, he took on the task of restructuring and reorganizing the Course Manual so that the items that had been added over time flowed more naturally. Additionally, he added write-ups on a number of topics which students had been asking for. The manual is now around 300 pages of text and charts. Additionally, there are a number of trading work sheets, just like I've used to track my trades each day, that you can use in your paper or live trading.
Once you have the manual, you can update it with the new material as you receive it through the course. Likewise, you may wish to save copies of the Daily Commentary in a separate binder of their own, and you will find the Commentary combined with the Manual to be an invaluable resource in the future.
| Section 1 |
Forward Introduction General Course Guidelines Further Comments To Our New Members What is Day Trading? Objectives of the Course Trading Style, Methods and Philosophy | Section 2 |
Trading Language How and When to Place the Entry Order Time of Day keys to Trading the S&P Off-The-Floor Traders vs. Floor Traders Paper Trading and Transitioning to Pulling the Trigger General Comments, Suggestions, Beliefs, and Other Important Stuff Futures Market Realities Daily Trade Record (DTR) | Section 3 |
Chart Setup TradeStation 3.5/4.0/2000i | Section 4 |
MARKET CONTEXT Part One Characteristics of a Price Bar Defining a Price Direction Turn Labeling the Turns Defining the Trend More on reading the Trend The Tick Support and Resistance Floor Pivot Points Projected High/Low for Tomorrow Building your Daily Worksheet | Section 5 |
MONEY MANAGEMENT Targets Stop Loss (SL) Placement Stop Loss and Trailing Stop Rules How and when to place the entry order Setting Targets My own “BAIL OUT” Rules and reasons | Section 6 |
MORE MARKET CONTEXT The Price Trend Distance from the 20 period exponential moving average Relationship of the RSI to the trend Linear Regressive Slope Moving Average Convergence/Divergence (MACD) Tutor Top Sell Tutor Bottom Buy More on Reading the Indicators ADX More on RSI The actions of the underlying market You know a move may be ending by…Counting Bars… When a move is in progress… Time of Day General Perceptions Context Before the Open (CBO) | Section 7 |
GENERAL PRICE PATTERNS M-Tops (1-2-3 tops) W-Bottoms (1-2-3 bottoms) Channel Breakouts Bull Flag/Bear Flag Head and Shoulders Triangles Drawing Trend Lines | Section 8 |
CHART PATTERNS & SIGNALS AND HOW TO INTERPRET AND TRADE THEM Introduction to Candlestick Charting Bullish Candlestick Bearish Candlestick Doji Engulfing Bars Outside Bars Inside Bars Dragonflies Tweezers Signal Patterns Dragonfly Tweezers Reversals BEK Trades (BEK) 123 Entries (123) Waterfall Entry/Retracement Trendline Second Signal (SS) 20/20 Reversal Trade (20/20) Gap Trade (GT) Qualified Support and Resistance Points Outside Bar (OB) Bullish Engulfing Bar (BEB) Bearish Engulfing Bar (BrEB) "Classic" High ADX Trade (CHAT or HAT) Spike and Congestion The 4th Bar RSI Divergence RSI & Price Michael's Ideal Trade Setup | Section 9 |
GENERAL COMMENTS and Questions & Answers Trading Ranges The Linear Regression Slope (LRS) Slippage Support & Resistance Trading Rules The Context of the Signal Entry Risk and Stress Fear | Section 10 |
APPENDICES Notations, Codes and Abbreviations used in the Commentary A description of a bar Arrows on my charts… Simplified Glossary of General Futures Terms Index Blank DTR Forms |
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During 2008 we have added about 90 more pages of Supplemental Sections which include but is not limited to:
New Chart Setup Instructions which will get you started where we are today………. 14 pages MACD and Trending Day Lessons……..28 pages including 22 charts. Signals and Setup Formation…….. 58 pages including 78 charts Not watching the ticking bar form…. 3 pages Trade Management……… 41 pages including 31 charts
There are also several Lectures ( Audio files ) including: |
