The advanced course

What a market is for, the institutions that make one work, and the six kinds of participant in it.

• What a financial market is for9 min
• The four institutions9 min
• The six kinds of participant9 min

Equity, debt and the hybrids in between — and which of them actually exist in Nepal.

Nepal has equity, debentures, government bonds and treasury bills. REITs and InvITs are not established here, and warrants are rare.

• Equity securities9 min
• Debt and money market securities9 min

Market capitalisation, float, face value, book value and the four different 'values' a share has at once.

• The four values a share has at once9 min
• Market capitalisation, float and liquidity9 min

Market, limit, stop and the conditional orders built on them.

TMS supports market and limit orders. Bracket, cover, GTT and AMO orders are Indian broker features and are taught here for completeness, not because you can place one on NEPSE.

• Market, limit and stop9 min
• Conditional and validity orders8 min

Bid, ask, spread, slippage, and the trading styles defined by how long you hold.

BTST and STBT depend on same-day settlement rules Nepal does not have. Intraday trading is not available on NEPSE — delivery is compulsory.

• Spread, depth and slippage9 min
• Trading styles and what Nepal permits8 min

Opening range, momentum, breakouts and the indicators built for a single session.

NEPSE does not permit intraday trading. Shares must be delivered, so a position opened today cannot be closed today. This module is background for foreign markets.

• Intraday concepts9 min

Contracts, margin, mark-to-market, leverage and roll-over.

There is no futures market in Nepal. Nothing in this module can be traded on NEPSE.

• How a futures contract works10 min

Calls, puts, premium, strike, and how an option's value splits into intrinsic and time value.

There is no options market in Nepal. Nothing in this module can be traded on NEPSE.

• Calls, puts and premium10 min
• Intrinsic value, time value and moneyness9 min

Delta, gamma, theta, vega and rho — what each one measures.

No options market in Nepal, so no Greeks to trade against.

• The Greeks10 min

Covered calls, spreads, straddles and the rest, with payoff shapes.

No options market in Nepal.

• Option strategies and their payoff shapes10 min

NAV, AUM, expense ratio, tracking error, creation units — and the arbitrage that keeps an ETF near its NAV.

ETFs are not established in Nepal. The vocabulary is taught because it appears throughout market writing, and because Nepal's own schemes are best understood by contrast with it.

• ETF terms and the arbitrage behind them10 min

How a scheme is priced, why a Nepali scheme has two prices at once, and what an expense ratio costs over ten years.

Nepal has mutual funds and they are listed and traded on NEPSE as their own sector. The Indian vocabulary around them — SIP, STP, SWP, IDCW, ELSS — is not.

• Mutual funds, NAV, and the two prices a Nepali scheme has11 min
• Judging a Nepali scheme11 min

What a company owns, what it owes, and why the two sides must be equal.

• What a balance sheet balances9 min
• The asset side, line by line10 min
• Liabilities and equity9 min

From revenue down to earnings per share, one line at a time.

• From revenue to net profit10 min
• EPS, diluted EPS and the traps9 min

The statement that is hardest to manipulate, and the one to read first.

• The three sections, and why only one is repeatable10 min
• Quality of earnings9 min

Nineteen ratios, four questions, and the formula for each.

• Nineteen ratios, four questions8 min
• Valuation ratios10 min
• Return, liquidity and leverage ratios11 min

How much debt is too much, and why the answer differs for a bank and a hydropower company.

• How much debt is too much10 min
• Reading debt in Nepali companies9 min

Three trends, three phases, and the confirmation rule that made it a method.

• Dow Theory9 min
• Dow Theory applied to NEPSE11 min

The four numbers inside every candle, the body-to-range ratio, and what a candle cannot tell you.

• What a candle is made of9 min

Nine named forms, all built from where the body sits and how long the wicks are.

• Single candle patterns9 min

Engulfing, harami, piercing and tweezers — with the exact test each one has to pass.

• Double candle patterns10 min

Morning and evening stars, soldiers and crows, and why the middle candle is the one that matters.

• Triple candle patterns10 min

Formations that suggest a trend is ending, and formations that suggest it is pausing.

• Reversal and continuation patterns10 min
• Measuring a pattern, and judging whether it is real12 min

Where levels come from, how to draw one as a zone, role reversal, and the levels Nepal's circuit limits create artificially.

• Support and resistance11 min
• Zones, volume at price, and Nepal's artificial levels12 min

A trend is a sequence of highs and lows, not a slope. How to define the swings, draw the line, and know when it has ended.

• Trend analysis11 min
• Multiple timeframes, and measuring trend strength11 min

SMA, EMA, WMA, VWMA and HMA with their formulas, worked side by side on the same closes.

• Moving averages11 min
• Choosing a length, and using an average as support11 min

RSI, MACD, Stochastic and the rest — the formulas, worked numbers, and why overbought does not mean sell.

• Oscillators12 min
• Divergence, failure swings and the settings that matter12 min

OBV, VWAP, money flow and the A/D line, worked on a five-day table.

• Volume indicators11 min
• Volume in practice, and the NEPSE floorsheet12 min

True range, ATR, Bollinger Bands, Keltner and Donchian — and how ATR turns a stop from a guess into a measurement.

• Volatility indicators12 min
• ATR in practice: stops, sizing and the squeeze12 min

ADX and DMI, Ichimoku, Supertrend, Parabolic SAR, Aroon and pivot points, with every formula written out.

• Advanced indicators12 min
• Combining indicators without repeating yourself11 min

Five waves with the trend, three against, repeating at every scale — and the counting problem.

• Elliott Wave Theory9 min
• Elliott: the three rules and the counting problem11 min

Accumulation, markup, distribution, markdown, and the effort-versus-result test.

• Wyckoff Theory9 min
• The Wyckoff schematics, phase by phase12 min

Volume plotted against price rather than time, the value area, and what the NEPSE floorsheet gives you that most markets do not.

NEPSE publishes a floorsheet of every executed trade, which is unusually good raw data. It does not publish a live depth-of-market feed, so true order-flow reading is limited here.

• Market profile and order flow9 min
• Value area, point of control, and what NEPSE lets you see11 min

Position sizing, the arithmetic of drawdown, and why a 50% loss needs a 100% gain.

• Position sizing and the arithmetic of loss10 min
• R-multiples, expectancy and drawdown12 min

The biases that cost money, named, with the countermeasure for each.

• Trading psychology9 min
• The biases, named, with a countermeasure each12 min

Correlation rather than count, position limits, rebalancing and what diversification actually requires.

• Portfolio construction10 min
• Correlation, rebalancing and NEPSE's concentration problem12 min