MECH_ENG 513: Professional Essentials

Seminar course covering techniques for teaching and technical presentation skills, organizational issues associated with teaching and presentations. Active teaching duties will be assigned during the course and performance feedback provided.

This is a seminar course taken by ME graduate students to improve their skills of teaching, seminar presentations, technical and proposal writing. The seminar course is required for all ME PhD students.

This course meets once per week, and each session is run by different faculty members in an innovative forum to address the syllabus topics. The purpose is to expose students to a variety of skills necessary to advance as a researcher during and after their PhD studies.

The topics of teaching and technical writing and presentation are incredibly important in a student's future success and yet are seldom taught in a systematic fashion in standard PhD curricula. This course addresses this need by tackling these topics drawing on the expertise of our own faculty.

The course is about 1/2 seminar and 1/2 interactive discussion. Some sessions are run as panel discussions and in several areas students will actively participate and be provided feedback on their performance by the faculty. Areas for student activity include preparation and presentation of a short mini-lecture on a research topic, and writing a proposal for a research or teaching lab need.

No grade is given in this zero credit seminar class. Class attendance and participation is mandatory to meet the requirements for the PhD degree in Mechanical Engineering.

10 Day Trading Tips for Beginners

Day trading is the act of buying and selling a financial instrument within the same day or even multiple times over the course of a day. Taking advantage of small price moves can be a lucrative game if it is played correctly. Yet, it can be dangerous for beginners and anyone else who doesn't adhere to a well-thought-out strategy.

Not all brokers are suited for the high volume of trades day trading generates. On the other hand, some fit perfectly with day traders. Check out our list of the best brokers for day trading for those that accommodate individuals who would like to day trade.

The online brokers on our list, Interactive Brokers and Webull, have professional or advanced versions of their platforms that feature real-time streaming quotes, advanced charting tools, and the ability to enter and modify complex orders in quick succession.

Below, we'll take a look at ten day trading strategies for beginners. Then, we'll consider when to buy and sell, basic charts and patterns, and how to limit losses.

In addition to knowledge of day trading procedures, day traders need to keep up with the latest stock market news and events that affect stocks. This can include the Federal Reserve System's interest rate plans, leading indicator announcements, and other economic, business, and financial news.

So, do your homework. Make a wish list of stocks you'd like to trade. Keep yourself informed about the selected companies, their stocks, and general markets. Scan business news and bookmark reliable online news outlets.

Assess and commit to the amount of capital you're willing to risk on each trade. Many successful day traders risk less than 1% to 2% of their accounts per trade. If you have a $40,000 trading account and are willing to risk 0.5% of your capital on each trade, your maximum loss per trade is $200 (0.5% x $40,000).

Earmark a surplus amount of funds you can trade with and are prepared to lose.

Day trading requires your time and attention. In fact, you'll need to give up most of your day. Don’t consider it if you have limited time to spare.

Day trading requires a trader to track the markets and spot opportunities that can arise at any time during trading hours. Being aware and moving quickly are key.

As a beginner, focus on a maximum of one to two stocks during a session. Tracking and finding opportunities is easier with just a few stocks. Recently, it has become increasingly common to trade fractional shares. That lets you specify smaller dollar amounts that you wish to invest.

This means that if Amazon shares are trading at $3,400, many brokers will now let you purchase a fractional share for an amount that can be as low as $25, or less than 1% of a full Amazon share.

You're probably looking for deals and low prices but stay away from penny stocks. These stocks are often illiquid and the chances of hitting the jackpot with them are often bleak.

Many stocks trading under $5 a share become delisted from major stock exchanges and are only tradable over-the-counter (OTC). Unless you see a real opportunity and have done your research, steer clear of these.

Many orders placed by investors and traders begin to execute as soon as the markets open in the morning, which contributes to price volatility. A seasoned player may be able to recognize patterns at the open and time orders to make profits. For beginners, though, it may be better to read the market without making any moves for the first 15 to 20 minutes.

The middle hours are usually less volatile. Then, the movement begins to pick up again toward the closing bell. Though rush hours offer opportunities, it’s safer for beginners to avoid them at first.

Decide what type of orders you'll use to enter and exit trades. Will you use market orders or limit orders? A market order is executed at the best price available at the time, with no price guarantee. It's useful when you just want in or out of the market and don't care about getting filled at a specific price.

A limit order guarantees price but not the execution. Limit orders can help you trade with more precision and confidence because you set the price at which your order should be executed. A limit order can cut your loss on reversals. However, if the market doesn't reach your price, your order won't be filled and you'll maintain your position.

More sophisticated and experienced day traders may employ the use of options strategies to hedge their positions as well.

A strategy doesn't need to succeed all the time to be profitable. Many successful traders may only make profits on 50% to 60% of their trades. However, they make more on their winners than they lose on their losers. Make sure the financial risk on each trade is limited to a specific percentage of your account and that entry and exit methods are clearly defined.

There are times when the stock market tests your nerves. As a day trader, you need to learn to keep greed, hope, and fear at bay. Decisions should be governed by logic and not emotion.

Successful traders have to move fast, but they don't have to think fast. Why? Because they've developed a trading strategy in advance, along with the discipline to stick to it. It is important to follow your formula closely rather than try to chase profits. Don't let your emotions get the best of you and make you abandon your strategy. Bear in mind a mantra of day traders: plan your trade and trade your plan.

Investopedia / Madelyn Goodnight

Day trading takes a lot of practice and know-how and there are several factors that can make it challenging.

First, know that you're going up against professionals whose careers revolve around trading. These people have access to the best technology and connections in the industry. That means they're set up to succeed in the end. If you jump on the bandwagon, it usually means more profits for them.

Next, understand that Uncle Sam will want a cut of your profits, no matter how slim. Remember that you'll have to pay taxes on any short-term gains—investments that you hold for one year or less—at the marginal rate. An upside is that your losses will offset any gains.

Also, as a beginning day trader, you may be prone to emotional and psychological biases that affect your trading—for instance, when your own capital is involved and you're losing money on a trade. Experienced, skilled professional traders with deep pockets are usually able to surmount these challenges.

A study by the Securities and Exchange Commission revealed that traders usually lose 100% of their funds within a year.

Day traders try to make money by exploiting minute price movements in individual assets (stocks, currencies, futures, and options). They usually leverage large amounts of capital to do so. In deciding what to buy—a stock, say—a typical day trader looks for three things:

Once you know the stocks (or other assets) you want to trade, you need to identify entry points for your trades. Tools that can help you do this include:

Define and write down the specific conditions in which you'll enter a position. For instance, buy during uptrend isn't specific enough. Instead, try something more specific and testable: buy when the price breaks above the upper trendline of a triangle pattern, where the triangle is preceded by an uptrend (at least one higher swing high and higher swing low before the triangle formed) on the two-minute chart in the first two hours of the trading day.

Once you have a specific set of entry rules, scan more charts to see if your conditions are generated each day. For instance, determine whether a candlestick chart pattern signals price moves in the direction you anticipate. If so, you have a potential entry point for a strategy.

Next, you'll need to determine how to exit your trades.

There are multiple ways to exit a winning position, including trailing stops and profit targets. Profit targets are the most common exit method. They refer to taking a profit at a predetermined price level. Some common profit target strategies are:

In many cases, you will want to sell an asset when there is decreased interest in the stock as indicated by the ECN/Level 2 and volume. The profit target should also allow for more money to be made on winning trades than is lost on losing trades. If your stop-loss is $0.05 away from your entry price, your target should be more than $0.05 away.

Just as with your entry point, define exactly how you will exit your trades before you enter them. The exit criteria must be specific enough to be repeatable and testable.

Three common tools day traders use to help them determine opportune buying points are:

There are many candlestick setups a day trader can look for to find an entry point. If followed properly, the doji reversal pattern (highlighted in yellow in the chart below) is one of the most reliable ones.

Also, look for signs that confirm the pattern:

If you use these three confirmation steps, you may determine whether or not the doji is signaling an actual turnaround and a potential entry point.

Chart patterns also provide profit targets for exits. For example, the height of a triangle at the widest part is added to the breakout point of the triangle (for an upside breakout), providing a price at which to take profits.

It's important to define exactly how you'll limit your trade risk. A stop-loss order is designed to limit losses on a position in a security. For long positions, a stop-loss can be placed below a recent low and for short positions, above a recent high. It can also be based on volatility.

For example, if a stock price is moving about $0.05 a minute, then you might place a stop-loss order $0.15 away from your entry to give the price some space to fluctuate before it moves in your anticipated direction.

In the case of a triangle pattern, a stop-loss order can be placed $0.02 below a recent swing low if buying a breakout, or $0.02 below the pattern.

You could also set two stop-loss orders:

However you decide to exit your trades, the exit criteria must be specific enough to be testable and repeatable.

It's smart to set a maximum loss per day that you can afford. Whenever you hit this point, exit your trade and take the rest of the day off. Stick to your plan. After all, tomorrow is another (trading) day.

You've defined how you enter trades and where you'll place a stop-loss order. Now, you can assess whether the potential strategy fits within your risk limit. If the strategy exposes you to too much risk, you need to alter it in some way to reduce the risk.

If the strategy is within your risk limit, then testing begins. Manually go through historical charts to find entry points that match yours. Note whether your stop-loss order or price target would have been hit. Paper trade in this way for at least 50 to 100 trades. Determine whether the strategy would have been profitable and if the results meet your expectations.

If your strategy works, proceed to trading in a demo account in real time. If you take profits over the course of two months or more in a simulated environment, proceed with day trading with real capital. If the strategy isn't profitable, start over.

Finally, keep in mind that if you trade on margin, you can be far more vulnerable to sharp price movements. Trading on margin means borrowing your investment funds from a brokerage firm. It requires you to add funds to your account at the end of the day if your trade goes against you. Therefore, using stop-loss orders is crucial when day trading on margin.

Now that you know some of the ins and outs of day trading, let's review some of the key techniques new day traders can use.

When you've mastered these techniques, developed your own personal trading styles, and determined what your end goals are, you can use a series of strategies to help you in your quest for profits.

Although some of these techniques were mentioned above, they are worth going into again:

Following the trend is probably the easiest trading strategy for a beginner, based on the premise that the trend is your friend. Contrarian investing refers to going against the market herd. You short a stock when the market is rising or buy it when the market is falling. This may be a difficult trading tactic for a beginner. Scalping and trading the news require a presence of mind and rapid decision-making that, again, may pose difficulties for a beginner.

Most day traders will end up losing money, at least according to the data. But, with experience, your chances of succeeding can grow. Beginning traders should trade accounts with "paper money," or fake trades, before they invest their own capital in order to learn the ropes, test out strategies, and employ the tips above.

Technical analysis can be more appropriate for day trading. That's because it can help a trader to identify the short-term trading patterns and trends that are essential for day trading.

Fundamental analysis is better suited for long-term investing, as it focuses on valuation. The difference between an asset's actual price and its intrinsic value as determined by fundamental analysis may last for months, if not years. Market reaction to fundamental data like news or earnings reports is also quite unpredictable in the short term.

That said, market reaction to such fundamental data should be monitored by day traders for trading opportunities that can be exploited using technical analysis.

Making money consistently from day trading requires a combination of many skills and attributes—knowledge, experience, discipline, mental fortitude, and trading acumen.

It's not always easy for beginners to implement basic strategies like cutting losses or letting profits run. What's more, it's difficult to stick to one's trading discipline in the face of challenges such as market volatility or significant losses.

Finally, day trading involves pitting wits with millions of market pros who have access to cutting-edge technology, a wealth of experience and expertise, and very deep pockets. That's no easy task when everyone is trying to exploit inefficiencies in efficient markets.

A day trader may wish to hold a trading position overnight either to reduce losses on a poor trade or to increase profits on a winning trade. Generally, this is not a good idea if the trader simply wants to avoid booking a loss on a bad trade.

Risks involved in holding a day trading position overnight may include having to meet margin requirements, additional borrowing costs, and the potential impact of negative news. The risk involved in holding a position overnight could outweigh the possibility of a favorable outcome.

Day trading is difficult to master. It requires time, skill, and discipline. Many who try it lose money, but the strategies and techniques described above may help you create a potentially profitable strategy.

Day traders, both institutional and individual, play an important role in the marketplace by keeping the markets efficient and liquid. With enough experience, skill-building, and consistent performance evaluation, you may be able to improve your chances of trading profitably.

Applied Mathematics Bachelor of Science Degree

Principles of Computing (General Education)

This course is designed to introduce students to the central ideas of computing. Students will engage in activities that show how computing changes the world and impacts daily lives. Students will develop step-by-step written solutions to basic problems and implement their solutions using a programming language. Assignments will be completed both individually and in small teams. Students will be required to demonstrate oral and written communication skills through such assignments as short papers, homeworks, group discussions and debates, and development of a term paper. Lecture 3 (Fall).

 Computer Science I (General Education)

This course serves as an introduction to computational thinking using a problem-centered approach. Specific topics covered include: expression of algorithms in pseudo code and a programming language; functional and imperative programming techniques; control structures; problem solving using recursion; basic searching and sorting; elementary data structures such as lists, trees, and graphs; and correctness, testing and debugging. Assignments (both in class and for homework) requiring a pseudo code solution and an implementation are an integral part of the course. An end-of-term project is also required. Lec/Lab 6 (Fall, Spring).

Calculus I (General Education – Mathematical Perspective A)

This is the first in a two-course sequence intended for students majoring in mathematics, science, or engineering. It emphasizes the understanding of concepts, and using them to solve physical problems. The course covers functions, limits, continuity, the derivative, rules of differentiation, applications of the derivative, Riemann sums, definite integrals, and indefinite integrals. (Prerequisites: MATH-111 or (NMTH-220 and NMTH-260 or NMTH-272 or NMTH-275) or equivalent courses with a minimum grade of B-, or a score of at least 60% on the RIT Mathematics Placement Exam. Co-requisites: MATH-181R or equivalent course.) Lecture 6 (Fall, Spring).

Calculus II (General Education – Mathematical Perspective B)

This is the second in a two-course sequence. It emphasizes the understanding of concepts, and using them to solve physical problems. The course covers techniques of integration including integration by parts, partial fractions, improper integrals, applications of integration, representing functions by infinite series, convergence and divergence of series, parametric curves, and polar coordinates. (Prerequisites: C- or better in MATH-181 or MATH-181A or equivalent course.) Lecture 6 (Fall, Spring).

Mathematics and Statistics Seminar

This course introduces the programs within the School of Mathematical Sciences, and provides an introduction to math and statistics software. The course provides practice in technical writing. Seminar 1 (Fall).

RIT 365: RIT Connections

RIT 365 students participate in experiential learning opportunities designed to launch them into their career at RIT, support them in making multiple and varied connections across the university, and immerse them in processes of competency development. Students will plan for and reflect on their first-year experiences, receive feedback, and develop a personal plan for future action in order to develop foundational self-awareness and recognize broad-based professional competencies. (This class is restricted to incoming 1st year or global campus students.) Lecture 1 (Fall, Spring).

General Education – Elective

General Education – First-Year Writing (WI)

General Education – Artistic Perspective

General Education – Natural Science Inquiry Perspective‡

Discrete Mathematics and Introduction to Proofs

This course prepares students for professions that use mathematics in daily practice, and for mathematics courses beyond the introductory level where it is essential to communicate effectively in the language of mathematics. It covers various methods of mathematical proof, starting with basic techniques in propositional and predicate calculus and set theory, and then moving to applications in advanced mathematics. (Prerequisite: MATH-173 or MATH-182 or MATH-182A or equivalent course.) Lecture 3, Recitation 4 (Fall).

Differential Equations

This course is an introduction to the study of ordinary differential equations and their applications. Topics include solutions to first order equations and linear second order equations, method of undetermined coefficients, variation of parameters, linear independence and the Wronskian, vibrating systems, and Laplace transforms. (Prerequisite: MATH-173 or MATH-182 or MATH-182A or equivalent course.) Lecture 3, Recitation 1 (Fall, Spring, Summer).

Probability and Statistics 

This course introduces sample spaces and events, axioms of probability, counting techniques, conditional probability and independence, distributions of discrete and continuous random variables, joint distributions (discrete and continuous), the central limit theorem, descriptive statistics, interval estimation, and applications of probability and statistics to real-world problems. A statistical package such as Minitab or R is used for data analysis and statistical applications. (Prerequisites: MATH-173 or MATH-182 or MATH 182A or equivalent course.) Lecture 3, Recitation 1 (Fall, Spring, Summer).

Mathematical Sciences Job Search Seminar

This course helps students prepare to search for co-op or full-time employment. Students will learn strategies for conducting a successful job search and transitioning into the work world. The course meets one hour each week for five weeks. Lecture 1 (Fall, Spring).

Statistical Inference

Learn how data furthers understanding of science and engineering. This course covers basic statistical concepts, sampling theory, hypothesis testing, confidence intervals, point estimation, and simple linear regression. A statistical software package such as MINITAB will be used for data analysis and statistical applications. (Prerequisites: MATH-251. NOTE: Students cannot receive credit for both MATH-252 and STAT-257 nor for both STAT-205 and STAT-257.) Lecture 3 (Fall, Spring).

4

   Multivariable and Vector Calculus

This course is principally a study of the calculus of functions of two or more variables, but also includes a study of vectors, vector-valued functions and their derivatives. The course covers limits, partial derivatives, multiple integrals, Stokes' Theorem, Green's Theorem, the Divergence Theorem, and applications in physics. Credit cannot be granted for both this course and MATH-219. (Prerequisite: C- or better MATH-173 or MATH-182 or MATH-182A or equivalent course.) Lecture 4 (Fall, Spring, Summer).

   Honors Multivariable and Vector Calculus

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   Linear Algebra

This course is an introduction to the basic concepts of linear algebra, and techniques of matrix manipulation. Topics include linear transformations, Gaussian elimination, matrix arithmetic, determinants, vector spaces, linear independence, basis, null space, row space, and column space of a matrix, eigenvalues, eigenvectors, change of basis, similarity and diagonalization. Various applications are studied throughout the course. (Prerequisites: MATH-190 or MATH-200 or MATH-219 or MATH-220 or MATH-221 or MATH-221H or equivalent course.) Lecture 3 (Fall, Spring).

   Honors Linear Algebra

General Education – Ethical Perspective

General Education – Global Perspective

General Education – Social Perspective

General Education – Scientific Principles Perspective‡

Real Variables I

This course is an investigation and extension of the theoretical aspects of elementary calculus. Topics include mathematical induction, real numbers, sequences, functions, limits, and continuity. The workshop will focus on helping students develop skill in writing proofs. (Prerequisites: (MATH-190 or MATH-200 or 1055-265) and (MATH-220 or MATH-221 or MATH-221H or 1016-410 or 1016-328) or equivalent courses.) Lec/Lab 4 (Fall, Spring).

Program Electives

General Education – Immersion 1, 2

Open Electives

General Education – Elective

Numerical Analysis

This course covers numerical techniques for the solution of nonlinear equations, interpolation, differentiation, integration, and the solution of initial value problems. (Prerequisites: (MATH-231 and (MATH-241 or MATH-241H)) or MATH-233 or equivalent courses.) Lecture 3 (Fall).

Mathematical Modeling (WI-PR)

This course explores problem solving, formulation of the mathematical model from physical considerations, solution of the mathematical problem, testing the model and interpretation of results. Problems are selected from the physical sciences, engineering, and economics. (Prerequisites: (MATH-220 or MATH-221 or 1016-410 or 1016-328) and MATH-231 and (MATH-241 or MATH-241H) and MATH-251 or equivalent courses.) Lecture 3 (Fall).

Abstract Algebra I

This course covers basic set theory, number theory, groups, subgroups, cyclic and permutation groups, Lagrange and Sylow theorems, quotient groups, and isomorphism theorems. Group Theory finds applications in other scientific disciplines like physics and chemistry. (Prerequisites: (MATH-190 or MATH-200 or 1055-265) and (MATH-241 or MATH-241H) or equivalent courses.) Lec/Lab 4 (Fall, Spring).

Experiential Learning Requirement in Mathematics

The experiential learning requirement in the Applied Mathematics and Computational Mathematics programs can be accomplished in various ways. This course exists to record the completion of experiential learning activities that have been pre-approved by the School of Mathematical Sciences. Such pre-approval is considered on a case-by-case basis. Lecture (Fall, Spring, Summer).

Graduate Seminar I

The course prepares students to engage in activities necessary for independent mathematical research and introduces students to a broad range of active interdisciplinary programs related to applied mathematics. (This course is restricted to students in the ACMTH-MS or MATHML-PHD programs.) Lecture 2 (Fall).

Graduate Seminar II

This course is a continuation of Graduate Seminar I. It prepares students to engage in activities necessary for independent mathematical research and introduces them to a broad range of active interdisciplinary programs related to applied mathematics. (Prerequisite: MATH-606 or equivalent course or students in the ACMTH-MS or MATHML-PHD programs.) Lecture 2 (Spring).

Math Graduate Core Electives

General Education – Immersion 3

General Education – Elective

Open Electives

Research and Thesis

Masters-level research by the candidate on an appropriate topic as arranged between the candidate and the research advisor. (This course is restricted to students in the ACMTH-MS or MATHML-PHD programs.) Thesis (Fall, Spring, Summer).

MATH Graduate Electives

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