Pullback Masterclass

Course outline:

Part 1: Building a reliable foundation

• 10 Principles of successful trading

  • Defining your edge with Market Pullbacks

  • How To Survive Highly Competitive Markets even as a part-time trader

  • The Evolving Markets

  • Small Edges For Big Results

  • How to profit when there is no “free lunch”

  • What Matters In Trading

  • Position Sizing Principles

  • How To Train Your Psychology To Win

  • How To Think About Probabilities

  • The Secret To Long-Term Sustained Success

• What we're looking for in good pullbacks

  • The Anatomy of a Pullback

  • How Trends and Pullbacks Relate

  • How To Enter A Different Points In A Trend

  • Examples of bad pullbacks

• 5 Mistakes traders make in pullbacks

  • The sweet spot to enter and avoid being too early or late

  • Proper sizing for controlling risk

  • When to exit and how to avoid holding too long (aka “greed”)

  • Taking pullbacks after climaxes (FOMO)

  • Ignoring failures on entry

• Current market opportunities from the day/night before. All markets and timeframes.

  • Live Q&A

Day 2: Trends and pullback variations

• Trend structure and pullbacks

  • How to navigate the "impulse waves" of the market

  • How momentum impacts your pullback trades

  • Misconceptions about divergences

  • How trends begin and develop

  • How trends end and why this matters

• What happens after a pullback?

  • Examples of both winning and losing pullback trades

  • Current market opportunities/examples

• Homework

• Q&A

Day 3: Sizing and trade selection

• Thoughts and principles for sizing

  • A quick look at “the trading questions”

  • Quick overview of different approaches to sizing

  • How to use fixed fractional sizing

  • The connection between risk and stop location

  • The lies of the trading community on “low risk”

• Using R to manage trades

  • Reviewing the connection between stop location and risk

  • Choices for the initial stop

  • Choices for exit

• Finding the best pullbacks

  • Putting everything we've learned into operation

  • Screening ideas for stocks

  • Intraday triggers

• Homework

• Q&A

Day 4: Entry techniques and using options

• Using options with pullbacks

  • Tradeoffs and opportunities

  • Managing time decay

  • Verticals

  • Holding period

  • Moneyness

• Entry techniques

  • "Go with" entries

  • "Countertrend entries"

  • Scaling in

  • Using indicators to help time entries

• Homework

• Q&A

Day 5: What happens after a pullback trade & management

• Trade management

  • Two broad categories: winning and losing trades

  • Initial stop location (mostly already covered)

  • Initial profit target location (also mostly review)

  • Trailing stops vs “all-out”

  • Scaling in

• Going from paper to real money

• Putting it all together

• Review of trades that set up and happened since the start of the course

• Q&A

Day 6: Putting it all together

• Recap of all the training

• Live Q&A