Pro Picks Quick Reference

Transcription

1 SUMMARY PAGE Asset Tabs Filter Bar Subscription Status Portfolio Performance Summary Multi-select Filter Drop-down lists Asset Performance Summary Listing Panel Asset Tabs The tabs in the upper left allow you to view the summary page for a specific asset class as well as the Asset Performance Summary on the left hand panels. Portfolio Performance Summary The blue section in upper left entitled All Asset Classes always appears. This section totals the profit and loss of all asset classes combined since the date specified in the panel. Asset Performance Summary This panel contains two tables specific for the current, selected asset tab. Accumulative Results (Per asset class) º Percent Gain (Current account balance minus initial balance) divided by initial balance º Average Win Winning trade profits divided by the number of winning trades º Average Loss Losing trade losses divided by the number of losing trades º Total (Profit/Loss) Current total balance (Green=Profit, Red=Loss) Total Count (Per asset class) º Total Picks Sum of all trades Open, Pending, and Closed º Pending Entered into Pro Picks system but has not met entry price º Open has met entry price and is not yet closed Online Trading Academy Pro Picks 1

2 º Closed for Profit Met entry, met exit, with a gain º Closed for Loss Met entry, met exit, with a loss º Closed no Entry A trade that is closed that never met entry º Closed Break Even Met entry, exited at break even Subscription Status Pro Picks are based on an annual subscription. Each Pro Pick Asset Tab can have a different subscription expiration date. The Subscription Status indicates the expiration date for the corresponding Asset Tab that is being viewed. When a subscription is within 30 days of expiration, the Subscription Status will turn red and display the number of days remaining. Filter Bar The Listing Panel can be filtered by; () Style, Symbol, Pick Date (Range up to 3 months back), and Status. Both Style and Status filters have multi-select capability. Listing Panel Listing of all trades contained in Pro Picks as filtered by the detail filter. Each column can be sorted in ascending or descending order when clicking on the column header. Clicking on the specific row will take you to the detail page for the specific trade. Listing Panel Column Definition Pick Date This is the date that the specific Pro Pick was entered into the system. Style Three styles of trades used; Intraday, Swing and Position Long Term. º Intraday Stock positions not held overnight. Futures and Forex positions may be entered and exited during the Overnight session, but generally last less than 24 hours º Swing A trade typically held more than a day and less than a month º Long Term A trade typically held longer than a month Symbol Market symbol of the trading instrument. Outlook (Options Only) Directional bias of the trade, Bearish, Bullish or Neutral. Status Six statuses that track the life cycle of a specific trade. P/L Amount of dollars gained (or lost) as calculated by the move (Points +/-) in the market from entry value to current price or exit value, multiplied by quantity or size of the trade. Points +/- (Stocks, Forex, and Futures only) Amount of movement the trade has made from when it met entry, during the trade, and through final exit. The amount of movement is measured in specific units of measure based on the specific asset class as follows: º Stock Dollars (currently other currency is not available in Pro Picks) º Futures Points or Ticks º Forex - Pips New Indicates a new pick entered within the previous 24 hours. Online Trading Academy Pro Picks 2

3 DETAIL PAGE Specific Market Information Specific Information Chart Area Parameters Results Strategy Log Accessing the detail page can be done by clicking anywhere on the specific trade-pick row in the Listing Table. Specific Market Information This section includes the essential information about the specific market including the asset class, the trade style, the market symbol and name. Specific Information This section includes the essential information regarding the specific trade-pick including the Type of trade (Long or Short), Average daily volume and Trends both Short and Long Term. Parameters This section contains detailed parameters defining the trade including: Pick Date The date the pick was entered into the Pro Pick system. Entry Range The range the specific market price must reach for the trade to meet entry. This range will determine share quantity. A zone is used for entry in order to provide Pro Picks users the flexibility of responding to the trade pick based on their individual trade plan. The Active r monitoring their trades in real-time within the live-markets, is able to constantly evaluate their initial trade plan, and based off constantly changing market conditions make necessary changes to their trade plan, which may translate into better odds for success. These updates will show in the trading Log when the trade is opened and will provide educational information to our students. Online Trading Academy Pro Picks 3

4 Stop The stop value is a suggested value; this will give students the proximate location. The stop location placed by the instructor will be determined by entry, live market price action and position size. This will show in the trading log when the trade is opened and will provide educational information to our students. Target 1, 2, & 3 Each trade will have at least one target and sometimes more. Results This section contains the current status of the trade from its initial state based on the current market movement and the adjustments made to the trade (i.e., moved stop, etc). The detailed parameters defining the trade results include: Entry Date The date the pick met entry and the specific market price went into the Entry range. Quantity The size of the trade. Entry Range The range in which the specific market price met entry. NOTE: An actual value is used for measuring performance, but only a range is displayed. Exit The closing value of the trade, if multiple exits only the first exit will display. P/L Amount of dollars gained (or lost) in the trade. Points +/- Amount of movement the trade has made from when it met entry, during the trade, and through final exit. The amount of movement is measured in specific units of measure based on the specific asset class as follows: º Stock Dollars (currently other currency is not available in Pro Picks) º Futures Points or Ticks º Forex - Pips Chart Area This section contains a chart with notations of the initial setup of the trade-pick. Strategy This section includes the specific thoughts, rationale and strategies for why this trade-pick has been selected. Log This section contains a step by step commentary of the activity associated with the life cycle of the trade from entry to exit including date stamps for each entry. Online Trading Academy Pro Picks 4

5 DETAIL PAGE OPTIONS Specific Information Chart Area Parameters Results Risk Management Options Strategy Strategy Details and Log Tabs The Options Detail Page is similar to Stocks, Forex, and Futures except where explained below: Specific Information This section includes the essential information regarding the specific trade-pick including the Option Strategy, Market Outlook, Volatility Level, example Strategy Risk Profile, Strategy Overview (click to view), and Trends. Underlying Parameters This section contains detailed parameters regarding the underlying: Pick Date The date the pick was entered into the Pro Pick system. Entry The range the specific underlying price must reach, for the trade to meet entry. An entry range (as opposed to a single value) is used for entry in order to provide Pro Pick users the flexibility of responding to the trade pick based on their individual trade plan. Stop The initial protective stop value(s) based on the underlying. Target 1, 2 Each trade will have at least one target based on the price of the underlying. Online Trading Academy Pro Picks 5

6 Results This section contains the current status of the trade from its initial state based on the current market movement and the adjustments made to the trade. The detailed parameters defining the trade results include: Entry Date The date the pick met entry. Status The current status of the trade as based on previous Status definitions (above). Quantity The number of contracts/spreads based on $500/Risk per Contract. Credit/Debit Entry The premium received/paid per contract/spread to open the trade based on whether the trade is a credit or a debit. Credit/Debit Exit The premium received/paid per contract/spread to close the trade based on whether the trade is a credit or a debit. P/L Amount of dollars gained (or lost) as calculated by the Quantity times the difference between the entry and exit premiums. Options Strategy This section contains the details for each leg of the option trade including: Bias Short or long the option. Unit Number of contracts for that particular leg depending on the strategy. Expire Option Expiration Date. Cycle Weekly, Monthly, or Quarterly Expiration Cycle. Strike Option strike price. Type Put or Call. Risk Management This section has various factors affecting risk management and position size: Net Delta The Net Delta of the combined legs of the option strategy based on one contract/spread estimated at the entry based on the underlying price. Risk Per Contract Theoretical dollar risk per contract/spread based on the underlying stop. Maximum Reward The maximum profit that could be received per contract/spread. Maximum Risk The maximum loss per contract/spread. Strategy Details and Log Tabs This section has two clickable tabs. Click to view each: Details The specific thoughts, rationale and strategies for why this trade-pick has been selected. Log This section contains a step by step commentary of the activity associated with the life cycle of the trade from entry to exit including date stamps for each entry. Online Trading Academy Pro Picks 6

7 DEFINITIONS AND PARAMETERS DEFINITIONS AND PARAMETERS DEFINITIONS AND PARAMETERS Initial Balance Each asset class account begins with an initial balance of Initial Balance Each asset class account begins with an initial balance of: Initial Balance Stocks - $100,000 Each asset class account begins with an initial balance of Stocks Futures - $100,000 Stocks - - $100,000 $50,000 Futures Forex Futures - $50, $50,000 Forex Forex - $50,000 - $50,000 Initial Position Size The position size (shares, contracts, etc) of each trade-pick is variable, based Options - $50,000 on the distance of the initial stop loss from entry price (risk) and a fixed amount of capital at risk. No Initial Position Size The position size (shares, contracts, etc) of each trade-pick is variable, based trade-pick will risk more than $500. The smaller the stop, the larger the position size. Reference the on Initial the distance Position Size of the The initial position stop size loss (shares, from entry contracts, price etc.) (risk) of each and a trade-pick fixed amount is variable, of capital based on at the risk. No following table for examples of stop-size-position-size relationships (see Figure 1a & width of the Original Entry Zone and a fixed amount of capital at risk. No trade-pick will risk 1b). trade-pick will risk more than $500. The smaller the stop, the larger the position size. more Reference than $500. the following The smaller table the zone, for examples the larger the of stop-size-position-size position size. Reference the relationships following table (see for Figure examples 1a & 1b). of zone-sizeposition-size relationships STOCKS (see Figure 1a & 1b). Max Risk = $500 STOCKS FUTURES Max Risk = $500 FUTURES Stop Size Max Risk = Position $500 Size Stop Size Max Risk = Position $500 Size Stop Zone $.10 Size Position 5,000 shares Size Stop Zone 1 point Size Position 10 contracts Size $.20 $.10 5,000 2,500 shares 21 points 10 5 contracts $.50 $.20 1,000 2,500 shares 52 points 25 contracts $1.00 $.50 1, shares 10 5 points 21 contracts Figure 1a Point = $50 Figure 1b $ shares 10 points 1 contract Figure 1a Point = $50 Figure 1b Target Amount Allocation In real-world trading the amount of size given to each target position may Target vary Amount based Allocation on each individual In real-world trader s trading, trade the amount plan. For of size consistent given to each tracking, target Pro position Picks may uses vary a Target Amount Allocation In real-world trading the amount of size given to each target position percentage based on each allocation individual based trader s on trade the plan. following Unless table otherwise (see Figure stated 2). in the Strategy or the Log, Pro Picks may vary based on each individual trader s trade plan. For consistent tracking, Pro Picks uses a uses a percentage allocation based on the following table (see Figure 2). percentage allocation based on the following table (see Figure 2). Target Allocation Amount No. of Target First Allocation Second Amount Third Targets No. of Target First Target Second Target Third Targets One Target 100% Target Target Two One 100% 60% 40% Three Two 60% 40% 40% 30% 30% Three 40% 30% Figure 2 30% Stop Management In real-world trading there are many strategies for managing Figure 2 (adjusting) the movement of a Stop protective Management stop. Stop Management In real-world will show trading the there trading are log many for educational strategies purposes for managing when the (adjusting) trade is opened. the movement As price moves of a toward protective the first, stop. second, For or consistent third target, tracking, check the Pro log Picks on the uses detail a page single for potential rule-based stop strategy Stop Management In real-world trading there are many strategies for managing (adjusting) and the as target stated: movement adjustment. of a protective Once positive, stop. Pro For Picks consistent may choose tracking, to: Pro Picks uses a single rule-based strategy as stated: Utilize If and an when intraday the timeframe first target technial is met, stop, the and/or initial stop is moved to breakeven. If Use If and and when the initial when the stop the second and/or third target is met, check the log on the detail page for updated loss first amount target as is a met, type the of trailing-stop, initial and/or is moved to breakeven. protective stop price. If and when the second and/or third target is met, check the log on the detail page for updated Once If and the when initial target price has is closing been reached, in on third they may target, move check hard stop the to log breakeven on the detail page for potential protective stop price. target adjustment. If and when price is closing in on third target, check the log on the detail page for potential Online Trading target Academy Academy adjustment. Pro Pro Picks Picks 7 Page 3 Version Online Trading Academy Pro Picks Page 3

8 USING PRO PICKS Pro Picks is simple yet powerful. The filtering and sorting capability on the Summary page for the Listing Panel will provide you with the tools you need for your analysis. View Pro Picks that have not met entry Filter the Listing Panel by selecting Pending from the Status drop down filter. View Pro Picks that have met entry but have not met first target Filter the Listing Panel by selecting Open from the Status drop down filter. View new picks Sort the last column ( New s ) in descending order by clicking on the column heading. All of the picks marked as New will sort on the top. View only Swing Picks Filter the Listing Panel by selecting Swing from the Style drop down filter. (NOTE: Can also filter by Intraday and Long Term for other Trading styles) PRO PICKS DISCLOSURE The Pro Picks service is for educational purposes only and is intended to demonstrate how the lessons taught in the Online Trading Academy courses may be applied to the financial markets. Online Trading Academy Professional Staff and employees do not recommend, advocate or solicit the buying, selling or holding of any investment, the use of any investment choosing methodology, the use of any particular financial tools or particular trading platform, or the use of any particular financial planner, advisor or broker dealer. Trading and investing always involves high levels of risk. Any money allocated to trading and investing may be lost in its entirety, at any time. Moreover, the Online Trading Academy Pro Picks service should not be construed as a recommendation or an offer to buy or sell any security or the suitability of any investment strategy for you. The purchase, sale or advice regarding any security, other financial instrument or system can only be performed by a licensed Industry representative such as, but not limited to a Broker/Dealer, Introducing Broker, FCM and/or Registered Investment Advisor. Neither Online Trading Academy nor its representatives are licensed to make such advisements. All students of the Online Trading Academy training programs or products are encouraged to speak with a licensed representative of their choice regarding the appropriateness of investing/trading or of any particular investment/ trading strategy. Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options aspx (ODD). Copies of the ODD are available from your broker, by calling OPTIONS, or from The Options Clearing Corporation, One North Wacker Drive, Suite 500, Chicago, Illinois The information from this service is provided solely for general education and information purposes and therefore should not be considered complete, precise, or current. Many of the matters discussed are subject to detailed rules, regulations, and statutory provisions that should be referred to for additional detail and are subject to changes that may not be reflected in the information provided. No statement provided in this service should be construed as a recommendation to buy or sell a security or to provide investment advice. Online Trading Academy Pro Picks 8