Trader's Guide

Benjamin Graham: The Father of Value Investing

Jun 16, 2024 ·

Benjamin Graham’s mother lost the family savings in the Panic of 1907, when he was thirteen, and the household never recovered the sta...

Bollinger Bands: Volatility, Squeezes, and Trading Signals

Sep 2, 2024 · Technical Analysis

Bollinger Bands are a volatility envelope wrapped around a 20-period simple . The upper and lower lines sit at ±2σ of the closi...

Breakout Trading: When and How to Enter

Apr 3, 2025 · Trading Strategies

A breakout happens when price punches through a or breaks down through a support level that has held the stock for weeks. The supply/demand ...

Bull and Bear Flag Patterns

Jun 9, 2024 ·

NVDA, August 2023. The stock had ripped from 420 to 480 in eight sessions on the back of the Q2 print. Then it stopped. For nine trading day...

Candlestick Patterns: Reading Price Action

Sep 29, 2024 · Technical Analysis

A candle is one period’s argument between buyers and sellers, drawn on the chart. Daily, hourly, five-minute — pick the timefram...

Capital Gains Tax: What Traders Need to Know

Sep 27, 2025 · Taxes and Investing

The largest single expense in an active trader’s ledger, after the broker’s commissions, is the federal capital gains tax owed o...

Carl Icahn: The Activist Investor

Apr 7, 2026 · Famous Traders and Investors

Carl Icahn is the man who taught American boards to be afraid of their own shareholders. Princeton philosophy in '57, options arbitrage at D...

Charlie Munger: Buffett's Right Hand at Berkshire

Apr 6, 2026 · Famous Traders and Investors

Charlie Munger is usually described as Warren Buffett’s right hand at Berkshire Hathaway, which is accurate as a job title and incompl...

Covered Calls: Generating Income from Stocks You Own

Feb 12, 2025 · Options and Derivatives

A covered call is a position composed of 100 shares of an underlying long, plus one short call written on those shares. The premium received...

Cup and Handle Pattern

May 25, 2024 ·

NFLX, spring 2021. Fourteen-week cup off the post-earnings flush, handle forming clean in the upper third, volume drying up the way it's sup...

Day Trading: What It Really Takes

Jul 24, 2024 · Trading Strategies

Eighty percent of day traders lose money in their first year. That number has been replicated in academic studies for twenty years and it ha...

Dollar-Cost Averaging: The Power of Consistent Investing

Jun 10, 2025 · Personal Finance

Dollar-cost averaging (DCA) is when you put a fixed amount of money into the market at a fixed schedule — weekly, every two weeks, mon...

Double Bottom Pattern

May 20, 2024 ·

The double bottom is a bullish reversal pattern that prints when a downtrend stops working. Price drops into a , bounces, comes back to the ...

Due Diligence: How to Research a Stock

Mar 23, 2024 ·

Due diligence is the analytical work performed on a company before capital is committed to its stock, and in equity research practice it is ...

Earnings Season: How to Trade Around Reports

Nov 25, 2024 · Trading Strategies

Four times a year, every public company in the United States files a quarterly accounting of its operations, and during the two-to-three wee...

Fibonacci Retracements: The Golden Ratio in Trading

Oct 2, 2024 · Technical Analysis

Fibonacci retracements come wrapped in more mysticism than any other tool on the chart, and most of it is garbage. The math is real. Leonard...

Fundamental Analysis

Mar 7, 2024 ·

Fundamental analysis is the practice of valuing a stock by studying the underlying business rather than the price chart. Where reads price a...

Gap Trading Strategies

Jan 25, 2025 · Trading Strategies

A gap is a discontinuity in the price series: the open of session t prints at a level meaningfully different from the close of session t-1, ...

George Soros: The Man Who Broke the Bank of England

Jul 7, 2024 · Famous Traders and Investors

The interesting thing about George Soros is not the billion dollars made on sterling in September 1992, nor the Quantum Fund’s thirty-...

Head and Shoulders Pattern

Jan 15, 2024 · Chart Patterns

META, fall of 2022. The stock had been bleeding all year and then put in a three-peak rally between September and late October that lined up...

How Bonds Work

Jan 7, 2025 · Economics 101

A bond is a loan extended to a government or a corporation. The buyer is the lender; the issuer is the borrower. In return, the issuer pays ...

How Insurance Works: Protecting Your Wealth

Jan 18, 2026 · Personal Finance

You can spend years building a , saving every month, watching the compounding do its work — and one uninsured event can take it all ba...

How to Build a Watchlist

Feb 27, 2025 · Beginner's Path

A watchlist is the bench between research and execution. It holds the names you've already studied, sized in your head, and decided you'll t...

How to Calculate Your Net Worth

Nov 11, 2025 · Personal Finance

Your net worth is the single number that captures your entire financial position. You calculate it by subtracting everything you owe (liabil...

How to Open a Brokerage Account

Dec 20, 2024 · Beginner's Path

A brokerage account is the account you open with a licensed broker-dealer in order to buy and sell securities. It is the channel between you...

How to Read a Balance Sheet

Dec 8, 2024 · Stock Trading Encyclopedia

The balance sheet is one of the three financial statements that every publicly traded company in the United States must file with the SEC ea...

How to Read a Cash Flow Statement

Jan 3, 2026 · Stock Trading Encyclopedia

The cash flow statement is the third of the three core financial statements, alongside the and the , and in the analyst’s practice it ...

How to Read an Income Statement

Mar 20, 2025 · Stock Trading Encyclopedia

The income statement, also called the profit and loss statement or P&L, reports how much a company earned and what it spent over a defin...

Ichimoku Cloud: A Complete Trading System

Jul 20, 2025 · Technical Analysis

The Ichimoku Kinko Hyo — "one glance equilibrium chart" — is a system built by Japanese journalist Goichi Hosoda in the late 193...

Jesse Livermore: The Boy Plunger of Wall Street

Jan 21, 2024 · Famous Traders and Investors

November 28, 1940. Sherry-Netherland Hotel, East 59th. Livermore finishes two old-fashioneds in the cloakroom, walks to the men’s loun...

Jim Simons and the Renaissance Medallion Fund

Feb 16, 2026 · Famous Traders and Investors

From 1988 to 2018, the Medallion Fund at Renaissance Technologies produced gross returns of roughly 66% per year before fees and roughly 39%...

John Bogle and the Index Fund Revolution

Apr 30, 2025 · Famous Traders and Investors

I read The Little Book of Common Sense Investing in a café in Lisbon in 2022, about six months after I'd lost €3,000 on a meme c...

MACD: Moving Average Convergence Divergence

May 7, 2024 ·

The MACD — Moving Average Convergence Divergence — is a momentum indicator Gerald Appel built in the late 1970s that maps the re...

Mean Reversion Trading

Mar 3, 2025 · Trading Strategies

Mean reversion is a property of certain stochastic processes: values that drift away from a long-run central tendency exhibit a measurable p...

Michael Burry and the Big Short

Mar 7, 2026 · Famous Traders and Investors

Michael James Burry’s 2005–2008 short of the United States subprime mortgage market is one of the most thoroughly documented pro...

Momentum Trading: Riding the Trend

Aug 1, 2024 · Trading Strategies

Momentum trading is the simplest sentence on a trading desk and one of the hardest jobs on a screen: buy what is going up, sell what is goin...

Moving Averages Explained

Apr 20, 2024 ·

AAPL, late May 2023. The stock had been riding above its 20-day EMA for six straight weeks, pulling back to tag the line twice and bouncing ...

NASDAQ Explained

Feb 24, 2024 ·

The NASDAQ is the second-largest stock exchange in the world and the first one built to run entirely on computers instead of a physical floo...

Order Types Explained: Market, Limit, and Stop Orders

Nov 5, 2024 · Stock Trading Encyclopedia

An order is the instruction you send to a broker to buy or sell shares under specified conditions. The choice of order type controls three t...

Pairs Trading: Market-Neutral Strategy

May 19, 2025 · Trading Strategies

Pairs trading is a strategy that takes a position in the spread between two correlated stocks rather than in either stock individually. The ...

Paul Tudor Jones: The Art of Macro Trading

May 30, 2025 · Famous Traders and Investors

Paul Tudor Jones II, born in 1954, compounded roughly 19.5% a year for three decades at Tudor Investment Corporation with one losing year, a...

Peter Lynch: Invest in What You Know

Aug 14, 2024 · Famous Traders and Investors

Peter Lynch ran the Fidelity Magellan Fund from 1977 to 1990 and compounded capital at 29.2% a year over those thirteen years, turning a tho...

Position Sizing and Risk Management

Apr 2, 2024 ·

Position sizing is the least exciting topic in this guide, and the most important. Nobody tells the story of a loss they cut at six percent....

Pre-Market and After-Hours Trading

Nov 27, 2025 · Stock Trading Encyclopedia

The US stock market's regular session runs from 9:30 AM to 4:00 PM Eastern Time, Monday through Friday. Trading does not stop when the closi...

Ray Dalio and the All Weather Portfolio

Feb 28, 2026 · Famous Traders and Investors

Ray Dalio (born 1949) testified to a congressional committee in 1982 that the developing-world debt build-up would trigger a global contract...

Risk/Reward Ratio: The Math Behind Every Trade

Dec 3, 2025 · Risk Management and Psychology

The risk/reward ratio (R:R) of a trade is the ratio of expected gain to risked loss, defined per trade as (target − entry) / (entry &m...

Rounding Bottom Pattern: The Slow Reversal

Aug 30, 2025 · Chart Patterns

The rounding bottom — sometimes called a saucer or U-bottom — is the slowest reversal pattern on the chart, and that’s the...

RSI Divergence: Hidden Trend Signals

Nov 8, 2025 · Technical Analysis

RSI divergence shows up when the and price stop agreeing with each other. Stock prints a new high, RSI prints a lower one. Stock prints a ne...

RSI: The Relative Strength Index

May 5, 2024 ·

The Relative Strength Index (RSI) is a momentum oscillator J. Welles Wilder Jr. built in 1978 to measure the speed and magnitude of recent p...

Scalping: Ultra-Short-Term Trading

Jun 24, 2025 · Trading Strategies

Scalping is the trade where you fight for nickels and dimes per share, hold for seconds to a few minutes, and put on twenty to fifty positio...