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19 lessons published · 3 schools · free, no sign-up
Every lesson is written from scratch, explains one idea with an original diagram, and ends with an exercise and a short quiz. No sign-up, no paywall. New schools are added only when their lessons are complete.
Start the courseICT (Inner Circle Trader)Risk ManagementOrder Flow and Market Microstructure
Start with a learning path
ICT (Inner Circle Trader) · ICT Foundations
Ten lessons, from what ICT is to a complete entry framework: market structure, liquidity, sweeps, displacement, fair value gaps, order blocks, premium and discount, optimal trade entry and kill zones.
- What Is ICT Trading? Michael J. Huddleston and the ICT Framework
- Market Structure in ICT: Swing Highs, Swing Lows and Breaks of Structure
- Buy-Side and Sell-Side Liquidity in ICT: Where Stops Rest
- Liquidity Sweeps and Stop Runs: Reading a Failed Breakout
- Displacement and Market Structure Shift (MSS) in ICT
- Fair Value Gap (FVG): Definition, Consequent Encroachment and Rules
- Order Blocks in ICT: Definition, Mean Threshold and Validation
- Premium, Discount and Equilibrium: The ICT Dealing Range
- Optimal Trade Entry (OTE): The 62–79% Retracement Zone
- ICT Kill Zones and Trading Sessions in New York Time
Risk Management · Risk Foundations
Six lessons with formulas and worked examples: risk per trade, risk-reward and break-even win rate, stop placement, leverage and margin, daily loss limits, drawdown and recovery.
Order Flow and Market Microstructure · Order Flow Foundations
Six lessons: order types, bid, ask and spread, slippage, VWAP, anchored VWAP, and what order flow data can and cannot show.
All published lessons
ICT (Inner Circle Trader) · Lesson 1 of 10 · Beginner · 9 min readWhat Is ICT Trading? Michael J. Huddleston and the ICT FrameworkExplain what ICT means, where its vocabulary comes from and how its core concepts connect, before studying each one.Read →ICT (Inner Circle Trader) · Lesson 2 of 10 · Beginner · 10 min readMarket Structure in ICT: Swing Highs, Swing Lows and Breaks of StructureIdentify swing highs and swing lows objectively, read a trend from them and recognise a break of structure.Read →ICT (Inner Circle Trader) · Lesson 3 of 10 · Beginner · 10 min readBuy-Side and Sell-Side Liquidity in ICT: Where Stops RestLocate the pools of buy-side and sell-side liquidity on a chart and explain why price is drawn towards them.Read →ICT (Inner Circle Trader) · Lesson 4 of 10 · Intermediate · 10 min readLiquidity Sweeps and Stop Runs: Reading a Failed BreakoutTell a liquidity sweep apart from a breakout using closes, follow-through and timing.Read →ICT (Inner Circle Trader) · Lesson 5 of 10 · Intermediate · 10 min readDisplacement and Market Structure Shift (MSS) in ICTRecognise displacement and use it to confirm a market structure shift after a liquidity sweep.Read →ICT (Inner Circle Trader) · Lesson 6 of 10 · Intermediate · 11 min readFair Value Gap (FVG): Definition, Consequent Encroachment and RulesDraw a fair value gap exactly, measure its consequent encroachment and decide whether it is worth trading.Read →ICT (Inner Circle Trader) · Lesson 7 of 10 · Intermediate · 10 min readOrder Blocks in ICT: Definition, Mean Threshold and ValidationMark a valid order block from its displacement and decide where to enter and where it is invalidated.Read →ICT (Inner Circle Trader) · Lesson 8 of 10 · Intermediate · 9 min readPremium, Discount and Equilibrium: The ICT Dealing RangeDraw a dealing range, find its equilibrium and decide whether a setup sits in premium or discount.Read →ICT (Inner Circle Trader) · Lesson 9 of 10 · Advanced · 11 min readOptimal Trade Entry (OTE): The 62–79% Retracement ZoneDraw the OTE zone on a displacement leg, combine it with an entry pattern and size the position from the stop.Read →ICT (Inner Circle Trader) · Lesson 10 of 10 · Intermediate · 10 min readICT Kill Zones and Trading Sessions in New York TimePlace the ICT kill zones on your chart in New York time and explain why time matters in the framework.Read →Risk Management · Lesson 1 of 4 · Beginner · 9 min readRisk per Trade: How Much Should You Risk on One Trade?Choose a risk per trade, measure its effect on a losing streak and convert it into a position size.Read →Risk Management · Lesson 2 of 4 · Beginner · 9 min readRisk-Reward Ratio and Break-Even Win Rate ExplainedCalculate the win rate a risk-reward ratio requires and the expectancy of a method, costs included.Read →Risk Management · Lesson 3 of 4 · Intermediate · 10 min readWhere to Place a Stop-Loss: Structure, Volatility and TimePlace a stop where the trade idea is invalidated, check it against volatility and size the position from it.Read →Risk Management · Lesson 4 of 4 · Beginner · 9 min readLeverage and Margin in Futures: What They Really MeanCalculate the notional value of a futures position and the real leverage of an account.Read →Order Flow and Market Microstructure · Lesson 1 of 5 · Beginner · 9 min readOrder Types Explained: Market, Limit, Stop and Stop-Limit OrdersChoose the right order type for each situation and know what happens to it in the order book.Read →Order Flow and Market Microstructure · Lesson 2 of 5 · Beginner · 8 min readBid, Ask and Spread: How Prices Are Quoted and What They CostRead the best bid and ask, calculate the cost of crossing the spread and recognise when it widens.Read →Order Flow and Market Microstructure · Lesson 3 of 5 · Intermediate · 9 min readSlippage in Trading: What It Is and How to Measure ItCalculate the slippage of an order from its fills and include realistic slippage in your results.Read →Order Flow and Market Microstructure · Lesson 4 of 5 · Intermediate · 9 min readVWAP Explained: Formula, Calculation and How Traders Use ItCalculate VWAP by hand, explain why institutions use it and read it without overinterpreting it.Read →Order Flow and Market Microstructure · Lesson 5 of 5 · Intermediate · 8 min readAnchored VWAP: How to Choose the Anchor and Read ItAnchor a VWAP to a meaningful event and use it to measure the average position of traders since then.Read →
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Trading schools
ICT (Inner Circle Trader)Ten lessons, from what ICT is to a complete entry framework: market structure, liquidity, sweeps, displacement, fair value gaps, order blocks, premium and discount, optimal trade entry and kill zones.Start the course →Risk ManagementSix lessons with formulas and worked examples: risk per trade, risk-reward and break-even win rate, stop placement, leverage and margin, daily loss limits, drawdown and recovery.Start the course →Order Flow and Market MicrostructureSix lessons: order types, bid, ask and spread, slippage, VWAP, anchored VWAP, and what order flow data can and cannot show.Start the course →
In preparation
These schools are being written. They will appear here, with links, only when complete lessons are published.
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- Quantitative Trading30 lessons planned
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- Gann Trading9 lessons planned
- Fibonacci Trading13 lessons planned
- Price Action11 lessons planned
- Technical Indicators18 lessons planned
- Fundamental and Macro Analysis17 lessons planned
- Wyckoff Method8 lessons planned
- Elliott Wave Theory7 lessons planned
- Dow Theory4 lessons planned
- Volume Spread Analysis5 lessons planned
- Supply and Demand Trading5 lessons planned
- Harmonic Trading5 lessons planned
- Algorithmic Trading7 lessons planned
- High-Frequency Trading Fundamentals5 lessons planned
- Statistical Trading5 lessons planned
- Volatility Trading5 lessons planned
- Portfolio Management6 lessons planned
- Behavioral Finance6 lessons planned
- Trading Psychology6 lessons planned
- Position Sizing5 lessons planned
- Market Making5 lessons planned
- Arbitrage6 lessons planned
- Intermarket Analysis4 lessons planned
- Seasonal Trading5 lessons planned
- Futures Trading6 lessons planned
- Cryptocurrency Market Structure6 lessons planned
- Fixed Income Trading6 lessons planned
- Commodities Trading6 lessons planned
- Institutional Execution5 lessons planned
- Trading Systems Development7 lessons planned
- Financial Markets18 lessons planned
How these courses are made
- Each lesson has a single learning objective, a direct definition, an original diagram, a worked hypothetical example, common mistakes, an exercise and a quiz.
- Concepts are attributed to their authors when that can be verified, and community interpretations are labelled as such.
- No lesson claims that a method is profitable. Hypothetical examples are labelled; no fabricated results or live prices are shown.
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