Lab Session #1 Market/Limit & Stop Market Ordersmyotaenlightstorage.blob.core.windows.net/pub/ProTrader...Market/Limit & Stop Market Orders Before Lab-Time Understand the Purpose for

Professional Trader – Part 2

Lab Guide

© Online Trading Academy 2015 1 v20150711

Lab Session #1

Market/Limit &

Stop Market Orders

Before Lab-Time

Understand the Purpose for this Practical Application

Re-read and study the theory needed to be applied in this Lab

Purpose:

The purpose of this Lab Session is to create a clean Trading Platform and become familiar with the use and placement of basic Order Types. Working with fresh desktops and workspaces will help to minimize computer problems and will allow for more focus during Lab time…

Tasks that will be competed:

You will

Place repeatedly market orders (Long and Short) and experience with the fills

Place repeatedly limit orders (Long and Short) and experience with the fills

Place repeatedly Stop market orders (to protect Long and Short positions) and experience with the fills

Related Slides for preparation:

Professional Trader – Part 2 – Day 1 – Slides 45-63

(Optionally: Professional Trader – Part 1 – Day 2 – Slides 77-105)


Lab Guide


During Lab-Time

Follow the exact written instructions

Be aware of any further instructions

Be open and collaborate with the student or students sitting next to you

Instructions to be followed are found in

Professional Trader – Part 2 – Day 1 – Slides 50 & 53-56 & 59-60 & 62-63


Lab Guide


After Lab-Time

Summarize your key learning points

Write down what you did well and what you need to work on

Note: You may wish to use your break times to complete this ;-)

Key Learning Points

I need to work on

Worked well


Lab Guide



Lab Guide


Lab Session #2

Planning a Trade

Before Lab-Time



Purpose:

The purpose of this Lab Session is for you to apply the Core Strategy in order to S.E.T. a trade. In other words, using Supply and Demand identify a level to place an order to go long or short with a stop loss and targets following your pre-defined plan


You will

Identify the Curve (same as done in Pro Trader Part1)

Identify the Trend (same as done in Pro Trader Part1)

Decide if they want to be buyers or sellers and then find Supply and Demand Zones to time the entries and exits

This process will be repeated as many times as possible during the available Lab-Time


Professional Trader – Part 2 – Day 1 – Slides 67-138 (Optionally:

Professional Trader – Part 1 – Day 1 – Slides 88-110 Professional Trader – Part 1 – Day 1 – Slides 121-127 Professional Trader – Part 1 – Day 2 – Slides 8-15)


Lab Guide


During Lab-Time







Lab Guide


After Lab-Time




Key Learning Points

I need to work on

Worked well


Lab Guide



Lab Guide


Lab Session #3

Bracket Orders for Income

Before Lab-Time



Purpose:

The purpose of this Lab Session is to have you using Bracket Orders (where Stop, Entry and Target are sent all at once) for the first time


You will

Learn different features that are beneficial when using the Matrix

Specify position size before placing an order using the Matrix

Get into Long and Short Positions using the Matrix

Adjust and re-adjust Stops and Targets using the Matrix





Lab Guide


During Lab-Time







Lab Guide


After Lab-Time




Key Learning Points

I need to work on

Worked well


Lab Guide



Lab Guide


Lab Sessions #4, 7, 8, 9, 11, 12, 16, 17 & 18

Trading Time

Before Lab-Time



Purpose:

The purpose of this Lab Session is for you to Trade Live in the markets by using all the tools that have been delivered during lecture time


You will

Trade in Live Market conditions

Use the Matrix or the Order Bar to place Bracket Orders once Trading opportunities are properly S.E.T.

Manage risk at all time by using Stops and calculation the appropriate position size (during Lab #4, You will use 1 share only as a fix position size no matter what)

Get Long or Short depending on using Demand Zones or Supply Zones

Use all the tools covered in this course to make the trades better and better and the week progresses


Professional Trader – Part 2 – Day 2 – Slide 24 (Lab #4 only) Professional Trader – Part 2 – Day 2 – Slide 79 Professional Trader – Part 2 – Day 3 – Slides 13/29/68 Professional Trader – Part 2 – Day 4 – Slides 13/63 Professional Trader – Part 2 – Day 5 – Slides 14/30


Lab Guide


During Lab-Time





Professional Trader – Part 2 – Day 2 – Slide 24 (Lab #4 only)

Professional Trader – Part 2 – Day 2 – Slide 79

Professional Trader – Part 2 – Day 3 – Slides 13/29/68

Professional Trader – Part 2 – Day 4 – Slides 13/63

Professional Trader – Part 2 – Day 5 – Slides 14/30


Lab Guide


After Lab-Time




Key Learning Points

I need to work on

Worked well


Lab Guide



Lab Guide


Lab Session #5

Insert/Delete

Analysis Techniques

Before Lab-Time



Purpose:

The purpose of this Lab Session is to enable you to become familiar with the process of inserting and/or removing Analysis Techniques in a Price Chart


You will

Learn how to insert Analysis Techniques in a Chart

Learn how to delete a previously inserted Analysis Technique

The Analysis Techniques used will be “Volume” and “Average True Range” even though the same process could be applied to any other Analysis Technique




Lab Guide


During Lab-Time







Lab Guide


After Lab-Time




Key Learning Points

I need to work on

Worked well


Lab Guide



Lab Guide


Lab Session #6

Build a WatchList

for Income

Before Lab-Time



Purpose:

This Lab Session will help you develop a simple process on how to filter US Stocks to create a specific short list for high probability Short Term Income trading opportunities


You will

Use the scanner to build an initial list of Stocks that meet a specific criteria that focuses on volatility and liquidity

Identify Stocks where the preference would be buying

Identify Stocks where the preference would be selling

Put those Stocks together in a list where it is easy and fast to chart them to be efficient when planning trades




Lab Guide


During Lab-Time







Lab Guide


After Lab-Time




Key Learning Points

I need to work on

Worked well


Lab Guide



Lab Guide


Lab Session #10

Access Economic Calendar

& Upgrades/Downgrades

Before Lab-Time



Purpose:

This Lab Session has been designed to help you familiarize yourself with where to find announcement dates, times and levels of relevance relating to various Economic Reports as well as Stocks Upgrades and Downgrades


You will

Use a specific website to find the Economic Reports to be made public

Use a specific website to find out which companies have been upgraded and which ones have been downgraded




Lab Guide


During Lab-Time







Lab Guide


After Lab-Time




Key Learning Points

I need to work on

Worked well


Lab Guide



Lab Guide


Lab Session #13

Bracket Orders

for Wealth

Before Lab-Time



Purpose:

The purpose of this Lab Session is to have you using Bracket Orders (where Stop, Entry and Target are sent all at once) for Longer Term Trades


You will

Learn how to use the Order Bar (OCO/OSO Section) to get access to different Bracket Templates

Specify position size before placing an order using the Order Bar (OCO/OSO Section)

Get into Long and Short Positions using the Order Bar (OCO/OSO Section)

Adjust and re-adjust Stops and Targets using the Order Bar (OCO/OSO Section)





Lab Guide


During Lab-Time







Lab Guide


After L ab-Time




Key Learning Points

I need to work on

Worked well


Lab Guide



Lab Guide


Lab Session #14

Access Earnings Calendar

Before Lab-Time



Purpose:

The purpose of this Lab Session is to have you access and get comfortable using an Earnings Calendar


You will

Use a specific website to find the Earnings Reports to be made public

Watch what happened after the Earnings that were reported before Market Hours

Track what will happen with the Earnings reported after the Close




Lab Guide


During Lab-Time







Lab Guide


After Lab-Time




Key Learning Points

I need to work on

Worked well


Lab Guide



Lab Guide


Lab Session #15

Build a WatchList

for Wealth

Before Lab-Time



Purpose:

This Lab Session will help you develop a simple process on how to filter US Stocks to create a specific short list for high probability Long Term Wealth trading opportunities


You will

Use the scanner to build an initial list of Stocks that meet a specific criteria that focuses on volatility and liquidity

Identify Stocks where the preference would be buying

Identify Stocks where the preference would be selling

Put those Stocks together in a list where it is easy and fast to chart them to be efficient when planning trades




Lab Guide


During Lab-Time







Lab Guide


After Lab-Time




Key Learning Points

I need to work on

Worked well

Documents

Lab Session #1 Market/Limit & Stop Market Ordersmyotaenlightstorage.blob.core.windows.net/pub/ProTrader...Market/Limit & Stop Market Orders Before Lab-Time Understand the Purpose for