Lessons

📈 Trading

Crypto and stocks, from zero to mastery.

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Money & Markets

What markets are, what you actually buy, and why prices move.

• What even is a market?A market is any place where buyers and sellers meet to trade something: vegetables, sneakers, stocks, or…
• Stocks: owning a sliceBuy one share of Apple and you own a (very tiny) slice of Apple: its stores, its iPhones, its profits. You own…
• Crypto: money on the internetA cryptocurrency is digital money that lives on a blockchain, a public ledger kept by thousands of computers…
• Boss: Money & Markets reviewNo new concepts here, just you versus everything in this unit. Beat it to unlock Unit 2: How Exchanges Work…

How Exchanges Work

Order books, order types, stop-losses, and the silent costs of every trade.

• Where trades happenAn exchange is a marketplace that matches buyers with sellers automatically. The New York Stock Exchange…
• The order bookThe order book is a live list of everyone waiting to buy or sell. Buyers post the highest price they'll pay…
• Market vs limit ordersA MARKET order says: 'Buy now, whatever the price.' Fast, guaranteed to fill, but you accept the current ask…
• Stop orders: your safety netA STOP order triggers automatically when the price hits a level you chose. Its most famous job is the…
• Fees, spreads & slippageEvery trade costs you three ways: the FEE the exchange charges, the SPREAD between bid and ask, and SLIPPAGE…
• Boss: Exchanges reviewEverything from this unit: exchanges, order books, order types, and the silent costs. Beat this and you're…

Charts & Candles

Read candlesticks, timeframes, trends and volume: the language of every chart.

• Why charts existA price chart is just the history of every trade, drawn left to right through time. It can't predict the…
• Anatomy of a candleEvery candle has a BODY (the thick part, from open to close) and WICKS (the thin lines, showing the highest…
• Timeframes: zooming in and outA '1-hour chart' means each candle summarizes one hour of trading. A daily chart: one candle per day. Same…
• Trends: the market's directionZoom out on any chart and price is doing one of three things: trending UP (higher highs and higher lows)…
• Volume: the lie detectorVolume is the amount traded in a period, usually drawn as bars under the chart. Price says WHAT happened…
• Boss: Charts reviewCandles, timeframes, trends, volume. Beat this and the simulator unlocks: live prices and charts, virtual…

Keeping It Safe

Custody, wallets, broker protection, scams, and what actually moves prices.

• Wallets & custodyWhen your crypto sits on an exchange, THEY hold the keys and you hold a promise. That's custodial. With your…
• Broker accounts & protectionUnlike crypto, your shares aren't 'held' by your broker like coins in their pocket. They're registered to you…
• Scams: the greatest hitsThe moment you touch markets, you become a target. The good news is that scams are shockingly repetitive…
• What actually moves pricesThe counterintuitive part: markets move on SURPRISES, not news itself. If everyone expects Apple to report…
• Boss: Safety reviewCustody, protection, scams, and what moves prices. Beat this and League 1 is COMPLETE. You'll know more market…

Support & Resistance

Floors, ceilings, flips, moving averages: where the battles happen.

• Support: the floorTheory's done. Now we learn to READ markets. First concept: support. A support level is a price where buyers…
• Resistance: the ceilingA resistance level is a price where sellers repeatedly cap the rally: a ceiling. Sellers think 'that's…
• Moving averagesA moving average (MA) draws the AVERAGE price of the last N candles as a line. The 50-day MA, for example…
• Ranges, breakouts & fakeoutsMost of the time, price bounces between a support floor and a resistance ceiling. That's a RANGE. Markets…
• Boss: Levels reviewSupport, resistance, flips, moving averages, ranges and fakeouts. Prove you can read the battlefield, then…

Risk Management

Position sizing, the 1% rule, risk:reward, and defeating your own brain. The unit that keeps accounts alive.

• Why traders die: sizingHear this clearly: most traders don't fail because they pick wrong. They fail because they bet too BIG on any…
• The 1% ruleThe 1% rule: never risk more than 1% of your account on a single trade. Not '1% position size' but 1% RISK…
• Risk : rewardRisk:reward (R:R) compares what you might lose to what you might win. Risk $100 to make $300? That's 1:3. At…
• Your brain is the enemyMarkets don't beat traders. Traders beat themselves, with help from four ancient instincts: FOMO (chasing what…
• Boss: Risk gauntletSizing, the 1% rule, risk:reward, and your own brain. This boss guards the most valuable knowledge in the app…

The Long Game

DCA, market cap, tokenomics and earnings: telling investments from trades.

• DCA: the boring superpowerDCA means investing a fixed amount on a fixed schedule (say €100 every month) regardless of price. High…
• Market cap: the real sizeA coin at $0.001 is not 'cheaper' than one at $50,000. What matters is MARKET CAP: price × total supply. A…
• Tokenomics: reading crypto supplyTokenomics = the economic design of a token: how many exist, how many will ever exist, who holds them, and…
• Stock value: earnings & P/ESince a share is a slice of a business, its long-term value tracks the business's PROFITS (earnings). The most…
• Boss: The Long GameDCA, market cap, tokenomics, earnings. This boss tests whether you can tell the LONG game from the short one…

The Trader's Journal

Journaling, expectancy, the pre-trade checklist, and the weekly review: how skill compounds.

• The journal: your edgeA trading journal records every trade: why you entered, where your stop and target were, what happened, and…
• Expectancy: your real scoreExpectancy = (win rate × average win) − (loss rate × average loss). It's what an average trade of yours EARNS…
• The pre-trade checklistA pre-trade checklist is 5 questions answered BEFORE the buy button: What's the setup? Where's my stop? What's…
• The weekly reviewTrades are reps; the REVIEW is the training. Once a week, 20 minutes: reread the journal, sort trades into…
• Boss: League 2 finalLevels, risk, the long game, and the journal. This boss is cumulative: everything from 20 lessons, one…

Indicators

RSI, MACD, Bollinger Bands, and confluence: interrogating witnesses without obeying them.

• What indicators really areYou trade with a plan now, so it's time for sharper tools. First truth about indicators: every single one is…
• RSI: the speedometerRSI measures how fast and hard price has been moving, on a 0–100 scale. Above 70 it reads 'overbought'…
• MACD: trend + momentumMACD tracks the GAP between a fast and a slow moving average. Gap widening: the trend is accelerating. Gap…
• Bollinger Bands: volatility's mapBollinger Bands draw a moving average with two bands around it, set at ±2 standard deviations of recent…
• Confluence: building a caseConfluence means independent pieces of evidence agreeing: a support level + an uptrend + bullish divergence +…
• Boss: Indicators gauntletRSI, MACD, Bollinger, confluence. This boss checks the thing that matters: not whether you memorized formulas…

Chart Patterns

Flags, triangles, double tops, traps: crowd psychology drawn on a chart.

• Why patterns exist at allThere's no magic in chart patterns: they're what repeatable human behavior looks like when plotted. A 'double…
• Continuation: flags & trianglesAfter a sharp move (the 'pole'), price often drifts sideways or slightly against the trend in a tight channel…
• Reversals: tops & bottomsTrends rarely die in one candle. They die in failures. The DOUBLE TOP: price hits a high, pulls back, tries…
• Failed patterns: the trap tradeAdvanced secret: FAILED patterns often move harder than successful ones. A breakout that traps buyers and…
• Boss: Patterns finalPsychology, continuations, reversals, traps. This boss tests whether you see PEOPLE in the shapes, because…

Building Your System

Playbooks, backtesting, the paper-to-live bridge, and the art of not trading.

• The playbookA PLAYBOOK is a small set of setups you trade over and over, each with written entry criteria, invalidation…
• Backtesting: interrogate the pastBacktesting means replaying history and checking: 'if I had traded my rules exactly, what would have…
• Paper to live: the bridgePaper trading teaches mechanics, but live trading adds an ingredient paper can't simulate: REAL fear and…
• The art of not tradingThe least-taught skill in trading: NOT trading. No setup from your playbook? Flat. Choppy dead market? Flat…
• Boss: The System finalPlaybook, backtesting, the live bridge, and the art of staying flat. This boss closes League 3's core: you're…

Crypto Deep-Dive

CEX vs DEX, stablecoins, yield forensics, and narrative cycles: fluent crypto, kept skeptical.

• CEX vs DEXA CEX (centralized exchange: Binance, Coinbase, Kraken) is a company holding an order book and your funds…
• Stablecoins: crypto's cashStablecoins (USDT, USDC and others) are tokens designed to hold $1 of value: crypto's cash. Traders park…
• Staking & yield: where returns come fromCrypto offers yield everywhere: staking, lending, liquidity providing. Before chasing ANY percentage, ask the…
• Narratives & cyclesMore than any market on earth, crypto moves in NARRATIVES: DeFi summer, NFTs, AI tokens, memecoins, RWAs. A…
• Boss: Crypto nativeCEX/DEX mechanics, stablecoin plumbing, yield forensics, narrative cycles. Pass this and you speak fluent…

Stocks Deep-Dive

ETFs, sectors, dividends and earnings season, plus the League 3 graduation.

• ETFs: the market in one tickerAn ETF (exchange-traded fund) is a basket of assets trading as a single ticker. SPY holds the S&P 500: buy one…
• Sectors & rotationStocks cluster into SECTORS: technology, financials, energy, healthcare, utilities, and more. Money flows…
• Dividends: getting paid to holdDividends are profit paid out to shareholders, usually quarterly. A €100 stock paying €3/year yields 3%…
• Earnings seasonEvery quarter, public companies report results: revenue, profit, and guidance (their forecast). Stocks…
• Boss: League 3 GRADUATIONIndicators, patterns, systems, crypto fluency, stocks fluency. This is the graduation exam. After this, League…

Leverage & Margin

Amplification, liquidation, short selling, and why the 1% rule survives it all.

• Leverage: borrowed convictionThe advanced weapons. First up: LEVERAGE, trading with borrowed money. 10x leverage means a $1,000 deposit…
• Liquidation: the forced exitA leveraged position uses borrowed funds, and the lender (the exchange) will NOT take losses for you. When…
• Short selling: profit from fallsShorting inverts the trade: borrow the asset, sell it now, buy it back cheaper later, keep the difference. It…
• Sizing WITH leverageThe good news: leverage changes NOTHING about correct sizing. Risk = position size × stop distance. Choose…
• Boss: Leverage gauntletAmplification, liquidation, shorting, and pro sizing. This boss decides whether the advanced weapons make you…

Options I

Calls, puts, premium anatomy, delta & theta: risk as a design input.

• Options: the right, not the dutyAn option is a contract giving the RIGHT (never the obligation) to buy (CALL) or sell (PUT) an asset at a…
• Premium anatomyPremium = INTRINSIC value + EXTRINSIC value. Intrinsic: the profit if exercised right now (market vs strike)…
• Delta & theta: the first greeksThe 'greeks' measure how a premium responds to forces. DELTA: how much the option moves per $1 of the…
• Buying vs selling optionsOption BUYERS pay premium for defined risk and open-ended upside; they win rarely but big. Option SELLERS…
• Boss: Options I finalRights vs obligations, premium anatomy, delta and theta, the two businesses. Pass this and you can read an…

Perpetuals & Funding

Futures without expiry, the funding rubber band, cascades and hedging. Crypto's sharpest machinery.

• Perpetuals: futures foreverA perpetual future ('perp') lets you go long or short with leverage, without owning the asset. Unlike a normal…
• Funding rates: the market's mood meterFunding usually settles every 8 hours. Positive funding: perp trades above spot, longs pay shorts. The crowd…
• Liquidation cascades & OIOpen interest (OI) = total open perp contracts. Rising OI with rising price: new money chasing. Rising OI +…
• Basis, hedging & the pro playbookThe underrated use of perps: HEDGING. Hold 1 BTC you don't want to sell (taxes, long-term thesis) but fear a…
• Boss: Perps gauntletNo expiry, funding rubber bands, cascades, hedges. Prove you see the machinery and you've earned crypto's…

On-Chain Analysis

Exchange flows, whale cohorts, protocol books: reading the glass ledger.

• On-chain: the glass ledgerEvery blockchain transaction is public forever. That means crypto has something no stock market offers: you…
• Whales, wallets & cohortsAnalysts slice holders into cohorts: whales (huge wallets), long-term holders (coins >155 days old)…
• DeFi literacy: TVL & protocol healthDeFi protocols are on-chain businesses, and their books are open. TVL (total value locked) shows deposits…
• Boss: On-chain gauntletFlows, cohorts, whales, protocol books. Show that you read the glass ledger like the natives do.

Macro & Correlations

Rates, inflation, risk-on/off and the tide under every asset you trade.

• Macro: the tide under everythingMacro is the economy-wide weather: interest rates, inflation, employment, growth. It doesn't pick your stocks…
• Correlations & risk-on/risk-offCorrelation measures how assets move together (+1 lockstep, −1 mirror, 0 unrelated). In RISK-ON moods, stocks…
• Boss: Macro gauntletRates, inflation, surprises, correlations, regimes. Quick and brutal, like a CPI morning.

Portfolio & Hedging

Core-satellite construction, rebalancing, insurance, and the League 4 graduation.

• Portfolio constructionA portfolio is a DESIGNED machine, not a pile of trades. Core-and-satellite gave you the skeleton: boring…
• Hedging the bookYou've met the hedging instruments: protective puts (League 4 options), perp shorts vs spot (perps unit), and…
• Boss: LEAGUE 4 GRADUATIONLeverage, liquidation, shorts, options, perps, funding, on-chain, macro, portfolio, hedging. The advanced…

Volatility Mastery

Implied volatility, spreads, gamma and vega: the second dimension of every trade.

• Volatility: the fifth assetMastery begins with a mind-shift: volatility is a THING you can measure, buy and sell, not only a risk to…
• Spreads: sculpted riskA SPREAD combines options to sculpt exact payoffs. Vertical spread: buy a call, sell a further-out call…
• Gamma & vega: the fast greeksDelta and theta you know. GAMMA: how fast delta itself changes. It runs highest near the strike close to…
• Boss: Volatility finalIV, spreads, gamma, vega. The second dimension, examined.

The Engine Room

Order flow, market makers, sweeps and execution: the market below the candles.

• Microstructure: the engine roomCandles summarize; the ORDER FLOW is the raw truth, every bid, ask, and print. Microstructure studies how…
• Execution: the hidden edgeA strategy earning +0.4R per trade can be destroyed by 0.2R of sloppy execution. Masters treat entering and…
• Boss: Engine room finalOrder flow, market makers, sweeps, and the execution ledger. Quick test of the invisible skills.

Quant Foundations

Kelly, volatility drag, drawdown math: the numbers behind every rule you follow.

• Kelly & the size of edgesThe Kelly criterion computes the bet size that maximizes long-run growth for a KNOWN edge. Its lessons: bet…
• Drawdown math & recoveryYour equity curve's worst peak-to-trough fall is your MAX DRAWDOWN. It predicts two things returns can't…
• Boss: Quant finalKelly, drag, drawdowns, pain-adjusted judgment. The numbers behind every rule you've followed since League 2…

The Inner Game

Process over outcome, pre-commitment, variance peace: the last opponent is you.

• The inner gameLeague 2 named the four demons. Mastery goes deeper: the demons never die; veterans just build SYSTEMS around…
• Variance & the long gameA 55%-edge coin still throws 8 tails in a row sometimes. Feeling that as FAILURE is the mind's deepest trading…
• Boss: Inner game finalProcess vs outcome, pre-commitment, variance peace, sustainability. The exam the market gives daily, in…

The Capstone

Assemble your written system, go live like an operator, and graduate.

• Assembling YOUR systemEverything converges here. A complete personal trading system is a WRITTEN document: your markets and…
• Going live: the operator's manualThe final practicalities: real accounts at REGULATED venues only; taxes exist in every jurisdiction, and…
• FINAL BOSS: Formiga graduationOne hundred and eight lessons. Five leagues. Markets, machines, math, and mind. This final gauntlet draws from…