The stock market is considered to be one of the most profitable tools in the modern world. Still, 90% of new day traders fail miserably, and only 10% achieve success. What most people lack is a solid trading strategy, as well as a good mentor. So, if you don’t want to join the losing crowd, invest in a good day trading course. It’s important to learn as much as possible before committing your money. A promising course that could teach you a lot is the Textbook Trading course.
It’s an all-inclusive day trading course in the form of a DVD. Let’s see what you can expect from it.
Textbook Trading Overview
There’s more than eight hours of content, the best trading strategies and chart patterns. In addition, you’ll have a chance to go through 11 chapters that cover various topics of the author’s (Nathan Michaud of Investors Underground) trading experience. In short, you’ll find everything you need to get started. Here’s what each chapter is about:
Chapter One: Purpose and History
The first chapter talks about Nathan’s trading history in detail. You will be able to learn from his mistakes and successes. Also, you’ll learn about the strategies he used to become a full-time trader, as well as some useful tips.
Chapter Two: Setup and Terminology
This part of the course, Day Trading 101, covers some basic day trading principles and terminology. You’ll learn what SSR, G/R, HOD, R/G, etc. mean.
Chapter Three: Charting and TA
Chapter three talks about how to properly read and interpret a stock chart; this is vital for anyone who wants to succeed as a day trader. Furthermore, Nate explains the law of demand and supply. Also, there are numerous tricks that will help you get a better understanding of the stock market.
Chapter Four: ABCD and Long Trades
You’ll find the course’s most liked trading setup in this chapter – the ABCD pattern. Traders of various skill levels can make the most of this pattern, as it has been developed to help traders make informed decisions when going long a trade.
Chapter Five: Red/Green and Long Trades
A trader should be able to anticipate when a specific stock is moving after a setup. This chapter will help you start trading the setups by teaching you how to spot red/green trades.
Chapter Six: Shorts and Over Extensions
Chapter six is all about profiting when stocks drop in price. You’ll learn how to play both sides of the market safely (short and long) and how to sell profitably. Also, you’ll learn what setups you should look out for.
Chapter Seven: Morning Emotion and Faders
It seems that most profitable trading setups occur early in the morning. At this time, traders tend to rely on their emotions, and they often end up losing their money. Nate advises you how to deal with “morning emotions.”
Chapter Eight: OTC Trading
Penny stocks are risky, but they provide amazing trading opportunities. This chapter talks about everything there is to know about trading penny stocks.
Chapter Nine: Brokers
In order to achieve success in the trading industry, you’ll need a good broker that will help you make the most of your trading strategies. There’s a list of great brokers in this chapter that could help you make an informed choice.
Chapter Ten: Daily Routine and Goals
Nate’s daily routine and his consistent success are the topics of chapter ten. Other things covered are right trading goals and the best time to enter and exit a trade.
Chapter Eleven: Websites and Homework
Nathan talks about the trading tools he uses on a daily basis. The tools include scanners, news sites, charting sites, etc. He will also teach you how to properly use the tools.
Who is Behind the Course?
Textbook Trading has been created by Investors Underground, founded by Nathan Michaud. Nathan is a full-time trader with over 10 years of experience. His beginnings were marked by numerous failures because he had nobody to guide him. That’s why he talks about the mistakes he made, to help young traders. Today, Nate trades almost everything: penny stocks, small caps, high-priced stocks, long and short.
Main Characteristics / Benefits
Real Trade Examples
Theory is important, but seeing theory being applied to real trades is even more important. Nathan shows real and profitable trades in this course to encourage you to start taking action.
Theoretical and ambiguous strategies aren’t enough for beginners. That’s why this course provides actionable setups and strategies that allow you to apply your knowledge right away.
Multiple Trading Strategies
Every day trader’s goal is to make money. But, different things work for different people. So, this course offers a variety of trading strategies. You’ll run across small cap trades, afternoon trades, short, long selling, morning trades, OTC trades, etc.
Profitable Chart Patterns
When it comes to identifying trading signals, chart patterns are a mighty asset for all traders. Traders use them to make a short-term and long-term forecast. The course talks about high-probability patterns that can help you develop a well-planned trading style and identify profitable setups.
Subscription and Price
The DVD course alone costs $997, and you get instant streaming access from any place in the world. There is also a three-month membership and a yearly membership plan. The former includes two courses: Tandem Trader and Textbook Trading. Also, you’ll get your way into the Elite Investors Underground member area for three months. This three-month plan is around $1497. The latter includes a yearly subscription to the Elite Investors Underground, the Textbook Trading, and Tandem Trader course. It could be yours for $1997.
- Profitable and simple setups
- Numerous invaluable trading information
- Packed with countless trade examples and charts
- Teaches you about the right trading tools
- Great for beginners and intermediate day traders
- Well-structured; easy to follow
- Will improve your trading strategies
- High-quality and professional
- Might be a bit overwhelming for beginners
- Expensive membership plans
The Textbook Trading course is great for those who wish to improve their trading skills, as well as for those who are just getting started. This course is well-put and easy to follow, so you can definitely expect that it will enhance your day trading skills. All in all, we consider this course perfect for open-minded traders who are ready to commit and learn in order to make amazing accomplishments. Once finishing this course, consider watching Tandem Trader, the follow up course.