01 /Start Here
02 /Learning Paths
TRACK 01

Foundations

For people who've never bought a stock. We start with what a stock actually is, then walk you through the language, the orders, the costs, and the psychology.

  • What a stock actually is
  • Order types & how trades execute
  • Reading a chart from scratch
  • Volume, volatility, and liquidity
  • The math of compounding
  • Your first paper trade
~6h
LEVEL · BEGINNER
TRACK 02

Intermediate

You can place a trade. Now we teach you to think like an analyst — how to read a 10-K, decompose a sector, build a thesis, and size a position properly.

  • Reading financial statements
  • Valuation: DCF, multiples, and reality
  • Sector analysis & rotation
  • Position sizing & risk-of-ruin
  • Building your first thesis
  • Macro 101: rates, growth, inflation
~14h
LEVEL · INTERMEDIATE
TRACK 03

Advanced

Options, dark pools, gamma, vol surfaces, and quantitative tools. The mechanics most retail traders never see — used responsibly, they're powerful.

  • Options pricing & the greeks
  • Volatility surfaces & skew
  • Reading options flow
  • Dark pools & market microstructure
  • Backtesting without fooling yourself
  • Building a personal edge
~28h
LEVEL · ADVANCED
03 /The Library
PSYCHOLOGY

Why your best trades feel boring (and your worst feel exciting)

The neuroscience of trading regret. Why dopamine pushes you toward the wrong setups, and the three-step pre-commit framework that fixes it.

TECHNICAL

The only three chart patterns that actually work

We backtested all 47 commonly-cited patterns across 14 years. Most are noise. Three of them have real, persistent edge. Here they are.

FUNDAMENTALS

What a 10-K is hiding (and where to look)

The footnotes are where the truth lives. A walkthrough of seven 10-K red flags, with real examples from companies that later collapsed.

MACRO

How to read a Fed statement in 90 seconds

FOMC statements change five or six words at a time. Here's the diff-reading method analysts use to extract the signal in under two minutes.

OPTIONS

The greeks, explained without calculus

Delta, gamma, theta, vega — with no equations. Just clear analogies for what each one actually does to your P&L when the market moves.

RISK

Position sizing: the only rule that matters

Most traders blow up not from bad ideas, but from bad sizing. The Kelly criterion, the half-Kelly, and the rule professionals actually use.

STRATEGY

Backtesting without lying to yourself

Survivorship bias, look-ahead bias, overfitting, and the four other ways your backtest is lying. Plus the walk-forward method that fixes it.

PSYCHOLOGY

The cost of being right at the wrong time

Timing is a real cost, not a vibe. We model it: how much your average win shrinks for every week you wait, by strategy type.

SECTORS

Reading the semiconductor cycle

Semis run on a roughly four-year cycle. Where we are now, what each phase looks like, and the leading indicators that mark the turns.

04 /Glossary
GAMMA EXPOSURE (GEX)
The total amount of gamma that options dealers are exposed to. Positive GEX means dealers buy on dips and sell on rallies (stabilizing). Negative GEX means the opposite (amplifying).
DARK POOL
A private trading venue where large institutions can execute big orders without revealing them to the public market. Roughly 40% of US equity volume happens here.
SHARPE RATIO
Your return divided by how much that return bounced around. A Sharpe of 1.0 is decent, 2.0 is excellent, 3.0+ is rare. Tells you if your gains came from skill or from taking wild risk.
VAR (VALUE AT RISK)
The most you can statistically expect to lose in a given period, at a given confidence level. "1-day 99% VaR of -$2,000" means: on 99 out of 100 days, you won't lose more than $2,000.
SWEEP ORDER
An aggressive order that "sweeps" multiple exchanges at once to get filled fast. Strong signal of conviction — the trader cares more about getting in than getting a good price.
DELTA
How much an option's price moves when the stock moves $1. A 0.50 delta call moves $0.50 when the stock moves $1. Also: roughly the probability the option ends in the money.
Open Full Glossary · 1,400 Terms
05 /Meet The Teachers
EK

Elena Kowalski

EX-GOLDMAN · 9Y

Equities Research lead. Wrote our Foundations and Intermediate tracks. Specializes in turning ten pages of financial jargon into one paragraph that makes sense.

MR

Marcus Reyes

EX-CITADEL · 6Y

Quant strategist. Built the backtesting and options curriculum. Will not let you publish a strategy that fails his walk-forward sanity check.

SP

Sana Patel

EX-TWO SIGMA · 7Y

Macro analyst. Owns the rates, FX, and central bank content. Reads four central bank statements before her morning coffee.

DA

Daniel Aoki

EX-MORGAN STANLEY · 11Y

Sector specialist. Writes the deep-dive briefs on tech, semis, and energy. Has covered NVDA since it was a $40 stock.

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