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Overview
A top-rated stock trading course that’ll teach you everything you need to begin day trading, Textbook Trading by Nathan Michaud (InvestorsLive) is one of the best courses for beginners who are interested in learning how to profit from intraday moves in the market. With over 8 hours of high-level content covering everything from basic setup and terminology to the most profitable chart patterns and strategies, Nathan Michaud condenses the most valuable things he’s learned over his many years of trading and packs them into this streaming DVD trading course.
Unlike some day trading methods that limit your ability to take things to the next level, the Textbook Trading DVD teaches scalable strategies that you can use to build your account slowly and consistently with both long trades and short selling. Also, Nathan goes through a ton of chart examples in this course which is extremely helpful when it comes to learning the patterns.
Course Details
| Creator | Nathan Michaud |
| Publisher | InvestorsLive / Investors Underground |
| Formats | Digital (streaming DVD video) |
| Discs | 11 |
| Runtime | 8+ hours (11 chapters) |
| Price | Click Here |
Community Rating
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About Nathan Michaud & InvestorsLive
One of today’s top day traders and a leading educator in the industry, Nathan Michaud has taught thousands of individuals over the years how to become consistently profitable traders. His focus on short and long intraday momentum setups takes advantage of volume and volatility spikes while risking off levels that are clearly defined and strictly enforced.
Nathan is also the founder of InvestorsLive and Investors Underground, the best online community for day traders (click here then use promo code “tradingreviewers” to save up to $500 on Elite memberships). In addition to video lessons, daily watchlists, courses, and group webinars, Investors Underground also provides members with the following live chat rooms:
- Momentum chat
- Swing trading chat
- Crypto/OTC chat
- Traders’ lounge (questions and general trading discussion)
What You'll Learn in Textbook Trading
In Textbook Trading, Nathan provides some brief background history on how he got started trading and then jumps right into the meat of the course. He covers basic trading and chat room terminology, desk setups, recommended trading tools, and his favorite chart setups from both the long and short side. Overall, Textbook Trading is well-organized and Nathan does a nice job of beginning each DVD with an overview of what will be covered. He also provides a helpful summary after each section which reiterates the most important points that were discussed.
Chapter 1: Purpose & History (29:59)
In this first chapter of the course, Nathan begins by introducing himself, his trading style, and sharing how he became involved in trading. Like most, he made some mistakes early on and experienced some major challenges which were mainly his failure to cut losses and averaging down into losers. Nathan discusses some destructive pitfalls that new traders need to avoid and some basic best practices to understand and incorporate. Nathan’s focus is intraday trading and being flat by the close, taking singles and locking in profits along the way instead of trying to hit home runs. His trading strategy focuses on producing daily income by taking setups with favorable risk/reward (3:1) and he plays longs and shorts.
Chapter 2: Setup & Terminology (37:42)
In the second chapter of Textbook Trading, Nathan talks about why he began blogging and how Investors Underground was started. For those who are interested in trading with Nate, he offers his InvestorsLive Scans service, Investors Underground membership, and Investors Underground Elite. Nathan also goes over his trading setup, which includes a standing desk and three 30″ monitors. Also covered in this chapter is trading and chat room terminology and Nathan starts with the basics, something brand new traders will appreciate.
Chapter 3: Charting & TA (31:23)
In chapter 3, Nathan covers the basics of supply and demand — what really makes a stock move. He also discusses the importance of technical analysis and some of the important factors that he looks for in a setup. Nathan also keeps a close watch on former runners as these names can make huge price advances after times of consolidation. Also covered is the importance of having multiple trading plans going into the day (and what those should be). Lastly, it’s optimal to trade setups that attract the most interest as this is going to create both volume and volatility.
Chapter 4: ABCD & Long Trades (39:28)
In chapter 4, Nathan teaches you his favorite long setups and why multiple timeframes are so important to take into consideration. Discussed in detail are gearing and perking, anticipating r/g, different types of morning washouts, chasing, and more.
Chapter 5: Red/Green & Long Trades (40:26)
Nathan picks up where he left off in chapter 4 and covers how to anticipate a red/green move and where you should consider taking some off once things begin to move in your favor. Also discussed is stocks that open weak, stabilize, and perk. Next, Nathan begins to go over his favorite NASDAQ textbook long setups including morning washouts and also explains when it’s okay to chase.
Chapter 6: Shorts and Over Extensions (54:06)
In chapter 6 of the DVD, Nathan transitions over to his most profitable types of trades — playing the short side. He first explains his favorite setups for profiting from declines. He breaks down what to expect from these setups, how to profit from them, pitfalls to avoid, and more. Nathan goes over his favorite NASDAQ short setups, including parabolic shorts, follow through morning momentum, failed follow through momentum, late day faders, and slow grinders. Nathan also discusses the importance of defining risk before putting on a trade and he shares his favorite spots to risk off of.
Chapter 7: Morning Emotion & Faders (46:02)
Next, Nathan discusses how to take advantage of emotion-fueled moves. He explains how to spot failed follow through momentum, when to get short, where to risk off of, and the warning signs that tell you it’s time to cover. Nathan also shares how to profit on the backside of moves by shorting pops.
Chapter 8: OTC Trading (1:00:15)
In chapter 8, Nathan shares his most profitable strategies for trading OTC names. Even though he has largely moved away from trading penny stocks, it’s still something that he does from time to time and the knowledge shared in this video is pure gold. Discussed on this DVD are multiple timeframe breakouts, gap plays, gearing/perking, short selling OTC stocks, and panic bounce plays. Nathan also gives you an education on stock promoters and how to successfully make money from pump and dumps.
Chapter 9: Brokers (24:52)
When it comes to day trading, your broker can make or break you. In this part of the DVD, Nathan shares his best online broker recommendations, how to have success if you’re under the Pattern Day Trader rule (PDT), and more.
Chapter 10: Daily Routine (57:30)
Goals and a consistent daily routine should be a part of every trading plan, and in chapter 10 Nathan provides some helpful recommendations that every serious trader should take note of. Also discussed is trading psychology and the importance of maintaining discipline and sticking to your plan.
Chapter 11: Websites & Homework (1:02:41)
In this final section of the Textbook Trading DVD, Nathan shares several of his favorite scanners, news resources, charting sites, Twitter follows, and more. He also spends some time discussing short traps and does a live walk-through of his scan process.
Reader Reviews
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Textbook Trading DVD Overview [Video]
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This is one of the best DVD courses for stock market newcomers who are interested in learning how to trade intraday setups from one of today's top traders. Nathan Michaud is the real deal and he lays out everything you need to get started in this course. While you can purchase this course separately, we'd highly recommend becoming an Investors Underground member and getting access to Textbook Trading and Tandem Trader (his second DVD course) as part of the subscription package. This will give you the a lot of additional support that the DVDs alone don't provide and it'll give you the best chance of becoming a successful trader.
If you buy the course as a standalone purchase, the current MSRP is $997. Payment methods accepted are Visa, Mastercard, American Express, and Discover.
The Textbook Trading DVD is Nate's first day trader course and is a great introduction to his trading strategies, especially for those who are new and want to get start trading. Tandem Trader is Nate's second day trading course and it builds on the information covered in Textbook Trading, adding live tick-by-tick trading action which is a big help as it allows you to see his trading setups happening in real-time. It's the better choice for experienced traders who are interested in learning Nate's trading style. We highly recommend both DVDs and you can get bundled access to them by joining Investors Underground.
Final Thoughts
Pros
Well-organized, teaches proven patterns for profiting from both the short and long side, lots of chart examples
Cons
Pricey (although you can get access to it with an Investors Underground membership), no live trading footage
Best For?
New traders and those who want to learn a legit and fully scalable approach to intraday trading
