The Master in Trading Core course is a comprehensive trader training program providing you with the skills and knowledge to trade with confidence in an any market, in any time frame: day trading, swing trading and positional trading. Students of any level of experience will profit from this course as they learn how to analyse financial markets from the perspective of a market maker with over 30 years trading pit and electronic markets. The focus of this course will be on futures markets, and more specifically, bond futures, stock index futures and currency futures. The methods you learn can be applied to any trading product.
You will acquire a deep understanding of the factors that move markets on a technical and macro fundamental basis, and learn what professional traders really look for; it is beyond technical indicators and standard ‘book’ knowledge. You will learn how and when institutional traders move markets, how they shakeout amateurs, and how they “read the tape”. In brief, you will learn the tricks of the trade and establish a simple and very tangible method of managing your capital. You will watch markets in real time and see how, where, and when to place trades and set profit targets and stops. The strategies you will learn are not strictly technical, they are reasoned out using a variety of factors. Ultimately, as you progress from a novice to a master, this is what you must do: look at the market holistically.
More specifically, you will learn how to use Market Profile, volume profile, and order flow. You will learn how to distinguish between legitimate high probability chart patterns and dubious ones. You will learn to assess when markets are likely to trend or range; retrace, or breakout. You will learn which levels are most likely to hold and intuit where market phenomena such as short squeezes, short covering and long capitulation are likely to occur. You will also gain a deeper understanding of your own trading personality and develop and execute a trading method that is grounded in tried and true risk management principles.
This course is taught by Jon Harman, a futures trader based in London who has been trading professionally for over 30 years. He has held positions as an institutional trader with BNP and JP Morgan, as well as operated as a local on the LIFFE pit. Before joining OFA, Jon had been cofounder and lead instructor of Futexlive, a London based trading school. Jon brings a tremendous amount of expertise, raw teaching ability and engagement to each of his students.
Key ‘takeaways’ and topics to be covered in this course
- Understand financial market movements from the perspective of classical physics and human psychology and develop a keen intuition for developing chart patterns;
- Learn high probability technical (chart) trade setups in futures and forex and understand ideal entry and exit points for a variety of market products;
- Gain proficiency in Market Profile and tick order-flow analysis. Once you understand how to use these tools you will never again consider basic technical indicators;
- Understand the mechanics of trading futures and forex and learn how professional traders move the markets to their advantage (and at the typical retail trader’s expense);
- Develop an understanding of the macro fundamentals which influence market behaviour and distinguish valid market moving news from the market noise.
Module 1. Requirements to Become a Trader
- Learn what is needed to be successful, discard the chaff.
- Discover where to focus your energies to accelerate your path to consistent profits.
- Recognise which markets suit your skillset and the characteristics of key futures markets.
- Learn the best and most reliable news sources for key trading products how professional traders set up their desk
- Options for software and hardware depending on your trading style.
Module 2. Introduction to Technical Trading
- Understand market movement from the perspective of basic physics and psychology, including concepts such as: vacuum zones, magnetism, inertia, equilibrium and pressure.
- Learn why most technical indicators and systems do not work.
- How to use trading ladders (DOM) to execute trades and place stops
Module 3. Chart Types, Trading Ladders, and High Probability Set-ups
- Recognize high probability trade set-ups and key chart patterns in any time frame.
- Learn to integrate Fibonacci and key levels in your analysis.
- Learn how, when and why certain Candlestick patterns are most likely to materialize.
- Learn how to use a variety of chart types in a cohesive trading strategy, including: Heiken Ashi, Tick, Order Flow, Renko, and Japanese Candlesticks.
Module 4. Introduction to Macro-fundamental Trading
- Introduction to major Central Banks: ECB, BOE, SNB, BOC, RBA, RBNZ, BOJ, and PBOC
- Understanding Central bank speak and communication policies.
- Understand correlations between bond futures, equities, commodities, and currencies.
- Understand how monetary policy affects financial markets and key trading products.
- Learn how to evaluate the significance of key economic releases in a real-time market.
Module 5. Market Profile: understanding the mind of the market
- Learn how to recognize the actions of big institutional traders and how ‘local’ traders respond using this analysis tool.
- Learn how to apply probability and Fibonacci analysis to Open Types and Day Types
- Learn how to use Market Profile using Japanese Candlesticks and Volume Profile for simplicity and better trade signals.
Module 6. Advanced Market Profile
- Learn key trade set-ups and find trades with superior risk/reward ratios.
- Assess probability of range versus trend using point of control and other levels.
- Longer term analysis using congestion zones, vacuum zones and key levels and pivots
- Developing your trade plan using Market Profile
Module 7. Market Micro Structure: tick order flow and volume analysis
- Review of key intra-day trading concepts: short squeezes, ‘spoofing’, order flow, etc.
- Understand the market as an insider using tick order flow, and volume profile analysis to gauge likely pivot levels and as a momentum indicator.
- Implementing trade executions, stops and targets using all parameters covered
- Learn how to predict and profit from short squeezes, covering and long consolidation.
Module 8. Probability, System Development, Trading plans
- Probabilities of key technical indicators and patterns.
- Trading system rudiments: avoiding curve fitting, primary and secondary filters.
- Integrating stops, profit targets and set-ups into a cohesive trading plan.
- Your trade journal and trade tracker (excel).
Module 9. Introduction to Risk management and Psychology
- Understand the perfect profit target and stop loss ratios for major product types per time frame, volume and liquidity.
- Understand your trading personality type and the products you should be trading.
- Ratios for success: commission, capital at risk, profit target / stop loss.
- The best places for stops and profit targets (are not where you think they are.)
Module 10. Putting it all together
- Applying fundamental, technical and psychological factors into a trade plan.
- Understanding the influence of trading algorithms.
- How to interpret COT reports: predicting future trends, understand backwardation and how producers use this information.
- Comprehensive review of trade set-ups, the placing of stops and profit targets.
Course length: 5-10 weeks. Total class time: 20 hours (2 x 10 classes) + unlimited access to News vs. Noise trader chat room.
- Study modules accessible to students via a web-based learning management system and taught online via Skype.
- Teaching modules vary from home-study modules to ensure an engaging, interactive class atmosphere.
- Classes held in a live trading environment whenever possible.
- Student participation such as Q&A, trade review and critique is encouraged since active participation helps ensure effective reinforcement of course material.
What comes next?
As a graduate of the Master in Trading Core course you now have a solid foundation in the 3 pillars of trading: technical analysis, macro-fundamental analysis and risk management and have enough knowledge to confidently execute your trading plan live. At this point, you will also have some idea of your weaknesses, strengths and the trading style that suits you best. Now what?
It is difficult to predict how a trader will evolve from this point on. Some start off like grass fires, become over confident and then blow-up. Others develop far slower and lose their capital through attrition of many small losses. The most successful traders look at trading like a business. They trade according to a plan and look upon trading as a business of managing probabilities. They know markets evolve and that what may have worked before, won’t necessarily work in the future. They know they need to continue learning and always be a step ahead.
To help new traders make the transition from student to professional trader we maintain an online chat room free to all alumni. Our teachers are also all experienced mentors with an average of over 25 years trading experience. We are here for you after graduation. Our suggestion to all graduates of the Master in Trading Core course is to maintain an active presence on our chat room and to continue learning through any of our courses, including: Financial Market Macro-fundamentals, Risk Management and Psychology, and Quant Trading and System Development. You may also decide to specialize in a particular style or product, in which case our courses in scalping or spreading will help you achieve even greater success in your career.