Trading Spelled Out
A free, plain-English trading library with calculators and interactive tools.
This is not a course. This is not professional advice. It is a set of notes explaining how markets and trading work, in an order that makes sense.
Philosophy
Trading can be complicated and overwhelming. There's endless information out there, and trying to learn everything will confuse more than it helps.
The focus is on being good enough, not knowing everything.
Sometimes less is more. Enough is better than everything.
These notes document what is worth understanding, for anyone who finds them useful. They are educational material, not a substitute for professional advice.
The library is updated as it grows.
The Curriculum
Phase 1: The Game (The "Why")
Before touching a chart, you must understand the nature of the environment.
| # | File | Core Lesson |
|---|---|---|
| 1 | What is Trading? | Trading is a game of probability and positive expectancy, not prediction. |
| 2 | Market Fundamentals | Price moves because of the matching engine, order book priority, and the interaction between Market and Limit orders. |
| 3 | Market Nature | Markets are fractal and cyclical; they move between expansion and contraction while hunting for liquidity. |
Goal: Stop treating the market like a "Wizard" and start treating it like a system.
Phase 2: The Map (The "Where")
This is the "Reading the Game" phase where you learn to identify context.
| # | File | Core Lesson |
|---|---|---|
| 4 | Market Structure | Identifying the trend through Higher Highs/Lows and recognizing the difference between a Break of Structure (BOS) and a Change of Character (ChoCh). |
| 5 | Timeframes | The "Ocean Analogy" - understanding that higher timeframes provide clarity while lower timeframes provide noise. |
| 6 | Support and Resistance | Identifying "floors" and "ceilings" where previous imbalances occurred, prioritizing higher timeframe levels. |
Goal: Stop looking for "signals" and start looking for "locations."
Phase 3: The Execution (The "How")
The final technical layer and the rules for survival.
| # | File | Core Lesson |
|---|---|---|
| 7 | Candlesticks | Anatomy of agreement vs. rejection. Using Pinbars, Dojis, and Engulfing patterns to confirm a story already told by structure and levels. |
| 8 | Risk Management | The 1-2% risk rule, position sizing, and the non-negotiable nature of stop losses. |
| 9 | Trading Psychology | Managing the "Big Four" emotions (Fear, Greed, Hope, Frustration) and prioritizing process over outcome. |
Goal: Execute with precision, protect the capital, and master the mind.
Strategy
The plan, the rules and the strategies.
- What is a Trading Plan? - Why you need one and what it should include
- Trading Rules - Non-negotiable rules
- Supply and Demand Strategy - A trading strategy in detail
Reference
- Glossary - Trading terms and definitions
How to Use This
Follow the phases in order. Don't skip ahead.
Each file builds on the previous one. The "Bridge Logic" at the end of each file will guide you to the next.
Don't try to memorise everything. Understand the concepts, then come back and reference as needed.
Disclaimer
This is educational material, not financial advice. Trading carries a risk of loss. Read the full disclaimer.