Live Market Seminar Curriculum
Live Market Seminar Curriculum
Live Market Seminar Curriculum
SECTION I:
A NEED TO DEFINE TRADING IN YOUR OWN TERMS
MY THOUGHTS REGARDING TRADING
TRADING IS AN ART, SO IS LEARNING
SECTION II:
WHAT IS YOUR TIMEFRAME
SECTION III:
YOUR TRADING TIMEFRAME VERSUS AWARENESS OF OTHER
TIMEFRAMES
SECTION IV:
REFERENCES
SECTION V:
INTUITION VERSUS MARKET-GENERATED INFORMATION
SECTION VI:
IMAGINATION
SECTION VII:
PREPARING FOR THE PIT SESSION OPENING
A. Many traders think they have to be in every trade rather than wait and pick their
spots and leverage the best risk tool they have available—something they can
control—trade location.
B. If you’re trying to be in every trade you might want to consider how you view
trading and the likely success of this mindset.
D. Trading is a game, in game playing part of the strategy is about getting inside the
mind of your competitors.
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E. Trading is more art than science; many are enamored by the thought of a systems
approach to trading. The idea of algorithms has invaded our brains.
H. What didn’t happen is often far more important than what did occur.
J. Bad advice—Identify your style. Successful traders can trade in any environment.
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Learn fundamentals, principles, parts of game. Over time intuition learns to integrate
more and more principles into a sense of flow. Eventually the foundation is so deeply
internalized that it is no longer consciously considered, but is lived. This process
continually cycles along as deeper layers of the art are soaked in.
—Josh Waitkzin, The Art of Learning
B. DAY TRADERS
SCALPERS
REVERSION TO THE MEAN
MOMENTUM
PERSONAL CHARACTERISTICS
C. SHORT-TERM TRADERS
OVERNIGHT POSITIONS
SHORT-TERM TRENDS
3-5 DAYS-MAYBE SLIGHTLY LONGER DEPENDING UPON CONDITIONS
PERSONAL CHARACTERISTICS
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D. INTERMEDIATE-TERM TRADERS
E. LONG-TERM TRADERS/INVESTORS
MONTHS OR YEARS
ATTACHED TO POSITIONS
FUNDAMENTALS
PRIVATE INDEPENDENT INDIVIDUALS
MUTUAL FUNDS
ENDOWMENTS
FOUNDATIONS
CHARACTERISTICS OF INDIVIDUALS AND FIRMS MAKING DECISION
SIZE
FREQUENCY
Depending on your experience, you can initially start with day timeframe and a single
category labeled “other timeframe”. As you evolve in this process you can
incorporate finer distinctions amongst the other timeframes.
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MONTHLY BAR
5. Destination trade
6. Intermediate-term resurfaces
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WEEKLY BAR
2. Trade location-intermediate-term
5. One-timeframing
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DAILY BAR
1. Two-day balance
3. Inside bar
4. Upside breakout
5. Inside bar
6. Gap
7. Inside bar
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1. Anomaly-settle
2. Anomaly
3. Poor high
4. Very Prominent POC or fairest price
5. Prominent POC
6. Anomalous POC
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1. Elongation
2. Not elongated
3. Value and value area placement
4. Poor high and lows
5. Trade location within larger timeframes
6. Balance
7. Serial Profiles-like Christmas tree lights
8. Excess
Imagination
Getting inside the head of your competitors
Understanding inventory conditions
Carrying information forward from earlier session(s)
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I only used the daily bar since we are at the monthly highs—I try to keep everything as
simple as I can.
RULING REASON—Why we weren’t mechanical on the break; see long downward bar in
center of Profile—some accumulated experience here.
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Without keeping the references in front of you it is hard to maintain a perspective when
the market heats up. See next graph.
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When you have the references in front of you the destination trades become
very clear.
Without the references you are likely to remain glued to the price indicator.
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1. Daily settle
2. Daily low-previous settle as we enter the following day.
3. Morning rally high following a gap lower selloff
4. Daily high or previous high
5. Gap
6. Daily excess high
7. Afternoon pullback low
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1. The opening
2. ½ back
3. Anomalies
4. POC or
a. Prominent POC
b. Very Prominent POC
5. One timeframing
6. Balance
7. Breaking out of balance
2. The bad
IS THERE EXCESS
Settle
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2. Overnight selling was on lower volume and likely weaker hands short-term
short
traders. Longer-term
term sellers can’t get the liquidity they need in the overnight
ove
markets.
Trading
rading Education Article #5 Knowing What to Look for
Trading
rading Education Article #9 Understanding the Importance of Two-s
sided Versus One-
sided Trade
Trading
rading Education Article #24 Day Timeframe Inventory Imbalances
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A. Am I placing the trade early in the trading session or later in the trading session
C. Day timeframe: Is my trade with or against the tone, trend, for day.
a. Long-term
b. Intermediate-term
F. Win loss percentage and win loss amount first half of day; second half.
Trading Education Article #14 The Horses are at the Gate and There They Go!
Trading Education Article #10 Traders and Costco Shoppers
Trading Education Article #26 Stops
Trading Education Article #30 Resting Orders
Trading Education Article #33 Defense
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