Back in the day, coveted Red Jackets were worn only by Locals. The Norden Method has been designed to reintroduce the development roadmap followed by former Locals on the London International Financial Futures Exchange, but adapted for modern electronic futures markets.
The Red Jacket Course (USD$2,795) is a comprehensive explanation of the unique Norden Method of day trading futures complete with video examples. You are given the opportunity to pass the rigorous Red Jacket exam and we award those who pass on their first attempt with an authentic PECO (est 1919), red trading jacket with embroidered Norden Method insignia.
01 Introduction
Disclaimer
Welcome from Gary
Why Market Making
02 Our Approach
Our First Principles
Professional Standards
Win Rates
OODA Loop
Continuous Improvement
03 Our Tools
No Charts or Technical Analysis
Only DOM & Tape
Watchlists and Newsfeed
Every Trade Counts
04 Our Edge
Due Diligence First
The Edge of the Spread
Precision Order Entry
Precision Entry
The Trades You Wouldn’t Have Seen Previously
How Frequency Compounds
Importance of Queue Position
Effective Queue Position
Avoiding Larger Traders
Importance of a Quick Fill
Liquidity and Order Flow
05 Value
How We Determine Value
Value in Slow Market
Value in Faster Markets
Waiting Until Everything Lines Up
Value Change When Price Doesn’t In Slow Market
Anticipating Value Change in a Slower Market
Debunking Highs, Lows, and Levels
Buying the High, Selling the High
Buying the Low, Selling the Low
Supplemental Correlations Video
06 Application
Trade Setups & Scratching
Faster & Thinner Markets
Getting Filled First Time
Pulling Orders
Pulling and Fill
Trading the Chop vs. Moves
Chop vs. Move
Transition
Two-way Order Flow
Two-Way Business, Two-Way RTH
One Way Business
DOM Tips & Unusual Activity
DOM Tips
Trading During Extreme Volatility
Post Fill Checklist
Norden Method Exit Rules
Scratch
Missing The Scratch
How Many Ticks
Faster Market Unwanted Trade
Increasing Size & Automating Exits
Bringing It All Together: Three Trades
Bringing It All Together: NQ
07 Improvement
Premarket Preparation
Purposeful Practice
Performance Assessment
Trader Review Video
08 Transitioning to Professional Trading
Frequency
Commissions vs Pathway to Seat Lease
Staying Out
Professional Standard Tools
Variability of Income
Taking Profits out of your Trading Account
Dealing with Bad Days
Continual Learning and Improvement
When to move from SIM to Live
Don’t ignore the warning signs
Red Flags
09 Free Preview of The Exchange
The Exchange – A Message from Gary
Monthly Meet-Up – Feb ’22
(NQ) New Trader Struggles with Manually Exiting
(NQ) Trader CAR#1: Some Room for Improvement
Atomic Habits – Book Reviews
The Real Story – Transition of Floor Traders
Why We Should Avoid Online Forums
10 Summary
Closing Thoughts
11 Red Jacket Certification
Exam Procedures
Norden Method Certification Exam
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