Advanced overview
Advanced does not restart from Chapter 1. It deepens the same Foundation knowledge nodes.
What Advanced means
Advanced is a professional extension of Foundation's knowledge nodes, not an entirely new course:
| Foundation asks | Advanced asks |
|---|---|
| What is Funding Rate? | How do Funding × OI × Basis × Liquidation × Positioning form a strategy? |
| What is a trend? | How do we research Time-series Momentum? |
| What is risk? | Portfolio VaR, Expected Shortfall, Factor Exposure, Stress Testing |
| What is backtesting? | Walk-forward, Purged Validation, Parameter Stability, Transaction Cost Model |
It eventually reaches Institutional, Systematic, Quant, and Portfolio depth.
Six domains
Each Foundation node continues in one of these domains.
How to enter
- Read the relevant Foundation nodes first. Each domain lists the chapters it extends.
- Experienced traders follow the experienced path; professionals use the professional path.
- After the common Core, choose a professional track.
Progress through inspectable work
- A · Probability and statistics: produce a Research Memo expressing estimation uncertainty.
- B · Strategy research: complete eight strategy practice cards, then select a candidate to test.
- C · Systematic research: run reproducible code and inspect clocks, splits, and costs.
- D · Portfolio and risk: submit Portfolio and Risk Reports.
- E · Execution and microstructure: compare three execution methods on one parent order, including unfilled risk.
- F · Institutional trading: submit capital, attribution, governance, and shutdown records.
The research workbook provides code and copyable templates. The 36-chapter entry map connects two deeper tasks within the shared graph. Finally, follow the Institutional handbook to manage a $1,000,000 virtual multi-strategy portfolio spanning five specified categories and complete a quarterly review.
Every module requires counterexamples and failed results. Successful teaching-code execution proves reproducibility, not real-market evidence or readiness for promotion.