This post is for individuals whom have just started trading whom have no utter experience beforehand in the US financial markets, finance, let alone the stock market. Case-in-point myself 13 months ago. This year has been a big learning curve and the curve still continuous. In addition am not based in the US so this syllabus is drafted from the perspective of a foreign trader. Lastly this post is also for experienced traders whom just want to recap their trading education.
There are two columns below, the first for the syllabus and the second illustrates where the syllabus content fits into, either knowledge contribution or discipline contribution. I've commented before in an @ikehardy2 post and it has been mentioned by a @proptrader101 post that the eduction of trading fits under one of the 2 categories.
Each person learns in a different order, and so below should just be taken as a guideline. In addition each person learns at a different pace so my suggested timeline of the below may vary from person to person. The suggested timeline is for a full-time basis. So if one did it part-time consider adding an extra month or 2 for each suggestion.
Beginners Syllabus - 4 months for points 1 to 19 and 2 to 3 months for points 20 and 21 simultaneously.
Advanced Syllabus - 6 to 12 months [To achieve consistency]
Professional Syllabus - Lifetime
The syllabus is integrated with Tim Sykes trading strategy and so I think under the beginners syllabus points 3, 5 to 10 would vary from guru to guru.
Regarding Tim's educational content from his DVDs, video lessons, watchlists and chatroom commentary I think under the beginners syllabus a minimum of 100-150 hours of video content should be watched before moving onto the advanced syllabus. Again for you it may take a shorter time to grasp his concepts or it may take longer. Even after you move on to the advanced section you would consistently conditional to you having a subscription, still be watching his educational content. Also don't forget google is your friend and there is a lot of free explanations out there.
I hope this post helps and for any experienced trader feel free to comment your opinions below if you feel you would add or remove something from the syllabus.
PS I wrote this syllabus 9 months ago. I just reviewed it this month and I felt a few tweaks where needed. Here's to always learning!
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Beginners Syllabus Best described like a degree |
Knowledge
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| 1. History of Wall Street, US Stock Exchanges & their unique characteristics - Irrelevant exchanges - OTCBB & Pinksheets - AMEX - NASDAQ CM, GM & GS - NYSE 2. General overview of securities in US (Options, Futures, Commodities, Forex, Stocks) market segments and the players 3. General overview of stocks (small, mid and large cap). Focus on small cap penny stocks 4. SEC Regulations [PDT, $2.50, SSR, Former Uptick Rule, Reg T Margin Call rules] 5. TIM’s Trading Rule - Strategies (Buy Positive Reaction to Contract & Earnings Announcements on dips or breakouts. Buy speculative breakouts on upcoming company or product announcements. Short Pump and Dumps) - Miscellaneous rules (e.g. Cut losses quickly) 6. Technical Analysis - Japanese candle stick charting - Western charting techniques (Support, Resistance, Channels, Double Top/Bottoms, Pennants [Infamous IU ABCD pattern] and Flags, Float Rotation, Volume Volatility, Price Action etc) - TIM`s Long and Short chart patterns - Level 2 for signs of bottom, tops and momentum 7. Fundamental Analysis (Catalysts that give reason to Technical Chart Patterns) - Researching SEC Filings & Corporate events for pump and dump red flags or sound companies for earnings and contract winners. Note no financial analysis (Ratio Analysis, P&L, and Balance Sheet Analysis) and Modelling is required as per Tim’s strategy 8. Trading Analysis (Catalysts that give reason to Technical Chart Patterns) - Investigating & Identifying Influential Promoters, Traders, and Financiers for Pinksheets, OTC, NASDAQ, AMEX and NYSE stocks - Paid chatroom support; unpaid chatroom pumps 9. Watchlists – Putting Together Tech, Fundamental and Trading Analysis - Nightly, Morning Premarket and Intraday Scan - Filtering - Using Chart Patterns to filter the watchlist for quality setups - Using Fundamental then Trading Analysis to filter setups further for either good longs or shorts 10. Capital/Money/Risk Management (Buy, Stop loss[mental or hard], and Sell targets. Position Sizing, and Risk:Reward Ratio), Risk Time Management and Account growth forecasting i.e. consistency vs. looking for home runs 11. Daily & Intraday hourly patterns when to buy or short 12. Performance management - Trading Logbook - Trade Journal - Excel Log [Watchlists performance comparator & Trade Setup Log] - Scheduling performance analysis and improvement 13. Summing up the workday 14. Choosing the right trading hardware setup 15. Choosing the right Market Data/charting software and their user guide 16. Bookmarking the right websites and trading software for your trading system 17. Choosing Brokers and the right broker account registration method (Suretrader, IB, ETrade, TOS, Centerpoint) 18. Your trading community. Profit.ly User Guide 19. Summing up your trading system 20. Paper Trading 21. Setting yourself up to have the RIGHT trading mindset. Be ready for the longhaul. Prepare yourself and plan for the worst and best case scenarios. Best case in the sense that big wins can lead to overconfidence, inconsistency and inadvertently a potential big loss. 22. Glossary of Terminology |
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Advanced Syllabus Best described like your 1st job; its where the real learning begins |
Discipline |
| 1. Emotional component of trading (Discipline and Appropriate Confidence) 2. Testing and potentially expanding to Simultaneous Multiple Account Usage 3. Testing other strategies & chatrooms (i.e. Nate Michaud, Superman etc) 4. Through trial and error honing in on your best fit system of strategy, rules, and tools |
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Professional Syllabus |
Knowledge and Discipline |
| 1. Continuous practise, practise, practise and practise of your trading system 2. Continuous tweaking and optimization of your trading system 3. Never stop learning and reviewing |
cool
can you post a download link for this file or email it to me?
Hi @marketboss76 and for anyone else who wants it, here's a google doc link: https://drive.google.com/file/d/0BzapnXXNhgW4MEJtQm0yOHNIX00/view?usp=sharing
Thanks!
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