The Trading Course
Overview
A free, comprehensive trading course covering derivatives, options, futures, crypto, and risk. Start here to see how the course works and which path fits you.
Market Microstructure
How markets really work: the auction, the limit order book, bid-ask spreads, market making, and liquidity. The microstructure every trader should understand.
Derivatives Markets
A full map of derivatives markets: futures pricing and mechanics, the rates complex, swaps, options fundamentals, put-call parity, and crypto perpetuals.
Options & Volatility
Options and volatility in depth: the greeks, realized vs implied volatility, the volatility risk premium, skew, term structure, dealer positioning, and structures.
Futures
Futures markets contract by contract: who trades each and why, the COT report, positioning, seasonality, and term structure. A complete guide to futures positioning.
Cryptocurrencies
Crypto perpetual futures in depth: open interest, funding rates, liquidations, orderbook depth, crypto options, cycles, and exchange risk.
Equities
The equities asset class: indices, ETFs, dispersion, market breadth, credit spreads, and reading the SPX regime with cross-asset internals.
Where Returns Come From
Where returns come from: harvesting risk premia through momentum and trend, the volatility premium, mean reversion, carry, delta-neutral relative value, and the value and defensive styles.
Technical Analysis
Technical analysis grounded in data: what actually holds up, why it works when it works, and how to use charts as an execution layer rather than a belief system.
Strategies
Seven tradeable strategies built on the earlier parts: selling the volatility risk premium, earnings and pre-earnings vol, forward volatility, option convexity, and momentum in futures and crypto, then building the book.
Risk & Statistics
The quantitative backbone: statistics, expectancy, backtesting pitfalls, volatility-based sizing, the Kelly criterion, drawdown math, and portfolio construction.
Using AI
Using AI language models as a working tool for trading: what they can and cannot do, prompting for honest answers, research, coding, and daily workflow.