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Fortune-Forcaster-Book.Pdf CONTENTS Chapter 1 | Synopsis of Course Book Material ​ ​ Chapter 2 | Stock Analysis ​ ​ Technicals vs Fundamentals The Importance of Time Frames Chapter 3 | Stock Charting and Trade Execution Basics ​ ​ Chart Types Candlesticks Chart Indicators/Overlays Technical Overlays Indicators Order Types Chapter 4 | Chart Patterns ​ ​ Support and Resistance Trendlines Cup with Handle Flags/Tightening Patterns Head and Shoulders Flat Top Breakout Flat Bottom Breakdown Chapter 5 | Styles of Trading ​ ​ Position Trading Swing Trading Day Trading Scalp Trading What Style Are You? Chapter 6 | Trading Rules ​ ​ F O R T U N E F O R C A S T E R | S T O C K M A R K E T S I D E H U S T L E | K Y L E D E N N I S ​ ​ ​ ​ Chapter 7 | Evaluating Market Sentiment ​ ​ Russell 2000 Dow Jones Industrial Average NASDAQ 100 S&P 500 VIX, etc Evaluating the Market Environment Chapter 8 | Swing Trading Strategies ​ ​ Breakouts/Breakdown Strategy Fundamental Trend Strategy Rubber Band Strategy Trading Patterns with a Biotech Focus (Kyle Dennis) Simplifying Charting to Perfect Entry Points Identifying Breakout Trades Reliable Chart Patterns (Fibonacci Retracements and Double Bottom Reversals) Chapter 9 | Day Trading Strategies ​ ​ Opening Range Breakout Strategy Double Bottom Strategy Red to Green Strategy VWAP Strategy Options Sweep Strategy Chapter 10 | Managing Risk ​ ​ Planning Your Trades Stop-Loss and Take-Profit Points How to Use Stop-Loss Points 2% Rule Trim and Trail Chapter 11 | Introduction to Options ​ ​ Chapter 12 | Utilizing Level 2 to Improve Your Entries ​ ​ F O R T U N E F O R C A S T E R | S T O C K M A R K E T S I D E H U S T L E | K Y L E D E N N I S ​ ​ ​ ​ Chapter 13 | Growing as a Trader ​ ​ Trading Psychology Tips Chapter 14 | Putting it All Together ​ ​ Typical Trading Day - Open to Close Screen Setup Utilizing the Chat Room/Services Glossary Valuable Resources for Traders Additional Chart Examples F O R T U N E F O R C A S T E R | S T O C K M A R K E T S I D E H U S T L E | K Y L E D E N N I S ​ ​ ​ ​ CHAPTER 1 SYNOPSIS OF COURSE BOOK MATERIAL This course book is designed to give its readers all the tools necessary to become a successful full time trader with the ability to actively manage his or her brokerage account. It begins with an in-depth explanation of the two most common ways to analyze a stock: fundamental analysis and technical analysis. I will carefully review the techniques of charting a stock’s price movement, as well as technical indicators and chart overlays to empower the active trader. I will then outline six specific strategies, geared toward both the active trader and the part time investor. I will teach these strategies and detail how to trade each one with numerous examples, including how to scan for each different approach. After detailing each strategy, I will conclude by examining important concepts such as managing your risk, executing the trade, and evolving as a trader. I will finish with a diary of a day in the life of a trader -- me! It is important to remember that every individual is unique; we each possess different personalities, risk tolerances, and time constraints. You will find that one of these strategies suits your temperament and life situation better than the others. This course will help you determine what type of trader you are and allow you to analyze which strategy works best for you. I have designed these concepts and strategies based on hundreds of thousands of trades and this course is a compilation of my many years of experience as an accomplished trader. Learning to trade can be an expensive and time consuming pursuit, but with my experience and expertise to guide you, you will be able to save both time and money compared to those who learn solely by trial and error. F O R T U N E F O R C A S T E R | S T O C K M A R K E T S I D E H U S T L E | K Y L E D E N N I S ​ ​ ​ ​ CHAPTER 2 STOCK ANALYSIS Technical analysis and fundamental analysis are the two most common methods of analyzing a stock’s worth. Technical analysis looks at the price movement of a company’s stock and attempts to use this data to predict the future price movements of the security. Fundamental analysis examines economic and fiscal factors such as financial statements, management roster, competitiveness and relevancy. I will now explain how these two forms of analysis are different, the strengths and weaknesses of each, and how technical and fundamental analysis can be used together to create powerful trading and investing strategies. Technicals vs Fundamentals A technician makes decisions based on chart analysis, while a fundamental analyst relies on financial statements. By looking at its balance sheet, cash flow statement and income ​ ​ ​ ​ ​ statement, a fundamental analyst determines a company's value. In this approach, ​ investment decisions are easy to make. If the price of a stock trades below its value as determined by the analyst, it would be deemed a good investment. Those who trade solely off technicals believe that all of a company’s fundamentals are priced into the share price, thus making fundamental analysis moot. Technicians believe that the information necessary to make decisions about a stock can be found in its technical trading patterns and that by studying the stock’s historical price trends, it is possible to predict price action in the immediate future. F O R T U N E F O R C A S T E R | S T O C K M A R K E T S I D E H U S T L E | K Y L E D E N N I S ​ ​ ​ ​ Example of a financial statement as found in a Google search F O R T U N E F O R C A S T E R | S T O C K M A R K E T S I D E H U S T L E | K Y L E D E N N I S ​ ​ ​ ​ Example of a stock chart F O R T U N E F O R C A S T E R | S T O C K M A R K E T S I D E H U S T L E | K Y L E D E N N I S ​ ​ ​ ​ F O R T U N E F O R C A S T E R | S T O C K M A R K E T S I D E H U S T L E | K Y L E D E N N I S ​ ​ ​ ​ The Importance of Time Frames Fundamental analysis takes a long-term approach to analyzing investments in contrast to technical analysis. A company’s fundamentals can take years to be reflected in a stock’s price, while charting technical patterns traders use time frames ranging from 1 minute to a year. When a fundamental analyst estimates value, it is not realized until the stock's price rises to its "correct" value. This type of investing is referred to as value investing ​ and assumes that the short-term market is inefficient, and that the price of a particular stock will eventually trade at its “true” value as determined by its fundamentals. Financial statements are filed quarterly and changes in earnings per share don't emerge on a daily ​ ​ basis like price and volume do. Fundamentals are the characteristics of a business. A company’s management can't implement sweeping changes overnight as it takes time to create new products, marketing campaigns, and supply chains. Therefore, one reason fundamental analysts use a long-term timeframe is because the data they use to analyze a stock is generated more slowly than daily price and volume data used by technical analysts. Technical analysis allows a trader to more easily utilize multiple time frames. Although having a long term time horizon works as well, technical analysis allows a trader to take advantage of short term price movements in stocks. Trading Versus Investing Not only is technical analysis more short term in nature than fundamental analysis, but also the goal for the purchase of a stock is usually different for each approach. Most often technical analysis is used to trade, while fundamental analysis is used to make an ​ ​ investment. Investors buy assets they believe can increase in value, while traders buy ​ assets they believe they can sell to somebody else at a higher price. Critics see technical analysis as illegitimate and question its validity to be predictive. Only recently has technical analysis begun to garner mainstream credibility. While most analysts on Wall Street focus on fundamentals, most major brokerage firms employ technical analysts as well. My view of technical analysis is that it accurately reflects buyers vs sellers. The charts reflect the historical price movements that create patterns and trends that can be studied and used to predict future price movements with certain probabilities. In my own trading experience, I have found technical analysis to be a powerful tool. If used properly, technical analysis can markedly increase the probability of profitable results. The debate over fundamental analysis vs technical analysis is inconclusive. Both methods have their strengths and weaknesses. In Chapter 8, I will discuss a specific F O R T U N E F O R C A S T E R | S T O C K M A R K E T S I D E H U S T L E | K Y L E D E N N I S ​ ​ ​ ​ strategy employing both technical and fundamental analysis that has provided excellent results over time, especially for a trader with a longer term horizon.
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