J. M. Hurst Cycles Trading & Trading Course is divided into ten lessons. Each lesson, in turn, is divided into several sections. The from-the-top-down teaching method just described for the course as a whole will also be applied at the lesson level and again at the section level.
The teaching method is being described to you because, for it to be fully effective, it is necessary that you know about it in advance and adjust your learning method to match. More orthodox teaching methods present the total material on a step by step basis, and the student is required to understand each step completely before the next step is presented.
The first-pass, broad-brush treatment of a new subject will be presented to you by means of narration on a magnetic tape cassette. At the appropriate point, the narrator will ask you to turn off your cassette playback unit and refer to a certain portion of the text material. This text material will provide the second pass, going back over the same subject introduced in the cassette, but offering new information, greater depth of understanding.
When appropriate, a third pass will be made in the text, possibly including an exercise so that you can have a point emphasized by actual participation. At the end of the section, the text will indicate that you are to turn your cassette playback unit on again. The narrator will introduce a new subject, then refer you once again back to the text.
After the last section, a summary of the entire lesson will be presented. This summary will serve to emphasize important information and also act as a convenient point of reference on those later occasions when you wish to check on some item that was covered in the lesson. Following the summary, there will be a self-administered examination that will allow you to assure yourself that you have mastered all the material presented.
Each new lesson will begin with a review of the previous lesson before launching into introduction of the new material. Although a written transcript of the cassette narration is provided at the end of each lesson text, it is very important to the teaching method used that the narrated material be heard rather than read.
In preparing the material for this course, it has been assumed that the student is already acquainted with the following areas:
- a. Equity auction markets and how they operate
- b. The various brokerage services available and how to use them
- c. Equity price bar-charts, how they are constructed, and how they are read
- LESSON 1. How Price Action Works
- LESSON 2. From Cyclic Concepts to Trading Decisions
- LESSON 3. Setting Up the Cyclic Model
- LESSON 4. Setting up a Transaction
- LESSON 5. How to Deal with Tops and Short Selling
- LESSON 6. Cyclic Analysis During a Transaction
- LESSON 7. Terminating a Transaction
- LESSON 8. How to Shape Strategy and Plan Capabilities
- LESSON 9. Refining Your Capabilities
- LESSON 10. A Reference Summary of Cyclic Analysis