Southern Utah University

Course Syllabus

Southern Utah University
Southern Utah University
Spring Semester 2026

Trading Futures (Face-to-Face)

FIN 4450-01

Course: FIN 4450-01
Credits: 3
Term: Spring Semester 2026
Department: ACFN
CRN: 10383

Course Description

Students will learn to trade commodity futures contracts. First, they will develop a multi regression model for the market of their choice which they will use to forecast the price of their market (e.g., wheat, hogs, cotton, crude, palladium). To prepare, in class we will review basic statistics, time series analysis, and linear regression methods. Next, students will create a simple technical system in Excel. Finally, they will combine the two projects to arrive at a trading plan. Concurrent readings will get the student up to speed on the mechanics of futures markets and familiar with the ideas and methods of the great speculators. Students will track and trade commodity markets, keep a trading diary, and regularly present to the class their thoughts on their focus market. As a class, we will back-test a trading algorithm using a custom-built simulator. (Spring) [Graded (Standard Letter)] Prerequisite(s): FIN 3750 - Prerequisite Min. Grade: D-

Required Texts

All books and articles will be provided to you in the form of PDF files.

Learning Outcomes


This course is designed to develop an understanding of a specific investment vehicle - the futures contract. Specific topics will include: the future contract and it's value, it's characteristics, and it uses, how to trade futures markets, building a fundamental model to predict price, building a technical model to predict price, and finally, combining the two to come up with a forecast. In the end, the student will have a solid understanding of their market and have both fundamental and technical models to forecast - and trade - futures markets.

The student will choose a physical commodity market, like coffee or hogs, (called the "Focus Market") and study and trade that market over the course of the semester. The student will present their focus market facts, dynamics, forecast, corresponding trading plan, and profit/loss to the class on a regular basis.  Students are strongly encouraged to trade many other futures markets, too. The main theme of the class is that student traders will make an entry in their Trader Log for every reading assignment, every trade, and - most important - every mistake made or insight gained throughout the course. This is a large portion of your final grade.

There is a good deal of reading, especially up front.  I have to get you up to speed so that you can begin to trade!  We'll go fairly deep into statistics when we build a fundamental model to predict price. We'll use Excel to construct a trading model based on technical indicators.

Sharing trading ideas and taking a swing at a market is fun, and educational.  You'll learn a lot about futures markets and about yourself!

Course Requirements


Attendance:
I will track attendance throughout the semester.
Readings:
To start, there will be several regular but very manageable readings. It is essential to your success in this class that you do them. (See Trading Log below).
Quizzes:
There will be several graded quizzes over the course of the semester.
Trading Log:
Each student will maintain a diary of sorts. See the course schedule for due dates (roughly every other Monday). In this document, students are required to record thoughts on readings, ask questions (yep, I'll answer in your log), relate insights, record trades, etc. Highlight your questions in yellow and I will respond in your Trading Log.
For every assigned reading, for every new trade, there should be a corresponding entry in your Trading Log. If there is no entry for an assigned reading, I will assume that you did not do the reading and deduct points. Since there are no sit-down, written exams, you should think of this as an exam. If you plagiarize, you face Academic Integrity consequences as outline in Policy 6.33. You could fail the class.
Focus Market Presentations:
Every few weeks, students will be asked to "pitch" their position and give the class a detailed update on their focus market.  You will be graded on your ability to research your market and the broad economy, speak articulately about the dynamics of your market, and to cogently and articulately pitch your position. You will receive a detailed rubric in advance.  If you use images, charts, or text that are not your own, you must site the source on the slide. Plagiarism is not tolerated.
Trade Tracker:
Students will trade markets and track their trading performance.  I grade on soundness of plan, risk management, and the variety of markets traded - not on trading performance.  You are trading fictitious money; have fun, trade often, and learn about markets other than your focus market. Keep accurate records. I do check them for accuracy, so if I find that you have fabricated your trading records I will have to give you a zero on the your Trade Tracker. Since there are no sit-down, written exams, you should think of this as an exam.
Models:
Each trader will build both a fundamental, multi-factor model and a technical model.  Both will be used to forecast prices in your focus market.  You'll be graded on your ability to rationalize or justify each step in the process. You will not necessarily be evaluated on the models predictive accuracy.

Grading Policy
Attendance | 10%
Trading Log | 25%
Models | 25%
Presentations | 20%
Trade Tracker | 10%
Quizzes | 10%

The following grading standards will be used in this class:
A | 100% to 90%
B | < 89% to 80%
C | < 79% to 70%
D | < 69% to 60%
F | < 60% to 0%
I might add a + or - to your final grade based on my assessment of your diligence, conscientiousness, and professionalism.

Course Outline

 | 1/7/2026  | 1  | We  | Choose Focus Market  |   |  
 | 1/9/2026  | 1  | Fr  | About Tracker and Log  |   | Einstein, Bohr
 | 1/12/2026  | 2  | Mo  | Review Futures  |   | CGFM Ch 36 Quiz, WTA 1, CGFM 2 Quiz
 | 1/14/2026  | 2  | We  | Trading  |   | MTF 1 Quiz, WTA 3 Quiz
 | 1/16/2026  | 2  | Fr  | Trading  | Trading Log 1  | MFT 2 Quiz, HOS Quiz
 | 1/19/2026  | 3  | Mo  | MLK - NO CLASS  |   |  
 | 1/21/2026  | 3  | We  | Trading  |   | MFT 3 Quiz, WTA 10
 | 1/23/2026  | 3  | Fr  | Trading  | Trade Tracker 1  | Func, Specs, WIZ 1
 | 1/26/2026  | 4  | Mo  | Trading  | Trading Log 2  | BIF 1, WIZ 2
 | 1/28/2026  | 4  | We  | Trading  |   | BIF 2 Quiz, WIZ 3
 | 1/30/2026  | 4  | Fr  | Trading  |   | WTA 8, WIZ 4
 | 2/2/2026  | 5  | Mo  | Presentations 1  | Trading Log 3  |  
 | 2/4/2026  | 5  | We  | Presentations (Cont'd)  |   | WTA 6
 | 2/6/2026  | 5  | Fr  | R-Sq and t-Test  |   | CGFM 21
 | 2/9/2026  | 6  | Mo  | Statistics  | Trading Log 4  | CGFM A, B, D
 | 2/11/2026  | 6  | We  | Statistics  |   | Computer Repair Problem Quiz
 | 2/13/2026  | 6  | Fr  | Statistics  | Trade Tracker 2  | CGFM 22, 23, 29
 | 2/16/2026  | 7  | Mo  | PRES - NO CLASS  |   |  
 | 2/18/2026  | 7  | We  | Statistics  | Trading Log 5  | Supervisor Problem Quiz
 | 2/20/2026  | 7  | Fr  | Start Fund Model  |   | CGFM F, CGFM Ch 2
 | 2/23/2026  | 8  | Mo  | About Basis  |   | Read Basis White Paper
 | 2/25/2026  | 8  | We  | Presentations 2  |   |  
 | 2/27/2026  | 8  | Fr  | Presentations (Cont'd)  |   |  
 | 3/2/2026  | 9  | Mo  | Fundamental Model  |   | CGFM 28
 | 3/4/2026  | 9  | We  | Fundamental Model  |   | CGFM 5
 | 3/6/2026  | 9  | Fr  | Fundamental Model  | Trade Tracker 3  | WTA 4, 5 QUIZ
 | 3/9/2026  | 10  | Mo  | SPR BK - NO CLASS  |   |  
 | 3/11/2026  | 10  | We  | SPR BK - NO CLASS  |   |  
 | 3/13/2026  | 10  | Fr  | SPR BK - NO CLASS  |   |  
 | 3/16/2026  | 11  | Mo  | Fundamental Model  | Trading Log 6  | CGFM 3
 | 3/18/2026  | 11  | We  | Fundamental Model  |   | CGFM 6,7, 8
 | 3/20/2026  | 11  | Fr  | Fundamental Model  |   | CGFM 11
 | 3/23/2026  | 12  | Mo  | Fundamental Model  | Fund Model Due  |  
 | 3/25/2026  | 12  | We  | Presentations 3  |   |  
 | 3/27/2026  | 12  | Fr  | Presentations (Cont'd)  | Trade Tracker 4  |  
 | 3/30/2026  | 13  | Mo  | Intro to Systems  | Trading Log 7  |  
 | 4/1/2026  | 13  | We  | Technical Model  |   |  
 | 4/3/2026  | 13  | Fr  | Technical Model  |   |  
 | 4/6/2026  | 14  | Mo  | Technical Model  |   |  
 | 4/8/2026  | 14  | We  | Technical Model  | Tech Model Due  |  
 | 4/10/2026  | 14  | Fr  | Technical Model  | Fund + Tech Model  |  
 | 4/13/2026  | 15  | Mo  | About Simulators  | Trading Log 8  |  
 | 4/15/2026  | 15  | We  | Presentations 4  |   |  
 | 4/17/2026  | 15  | Fr  | Presentations (Cont'd)  | Trade Tracker 5  |  

Instructor's policies on late assignments and/or makeup work


If you plan to miss or have missed an exam or an assignment, or submitted an assignment after the due date, SUU Policy requires that you petition The Office of Student Affairs for an excused absence. Student Affairs can issue an excused absence if your circumstances are extenuating. The obvious ones are death or serious illness in your family, birth of a child, serious personal illness (this includes a documented positive COVID test and mental illness). If you have a disability, contact the Office of Disabilities.

I respect your privacy. Extenuating circumstances are often highly personal and you should share these personal details with a professional. Visit Student Affairs
Links to an external site. to learn about available resources. Talk with Student Affairs and if your situation is serious, they will ask me to work with you.
I respect your right to self-advocacy. If you feel that your circumstances are serious, talk with Student Affairs
Links to an external site.. They are reliable, fair, and professional.
I respect your ability to prioritize and weigh consequences. It is your decision whether to chose skiing over a quiz.

Assignments: If you submit an assignment after the due date, for every day your work is late, Canvas will deduct 25% of the points earned. For example, if a student scored 80 points out of a possible 100 points and submitted the work 2 days late, she would earn 80/100 * (1 - (0.25 * 2)) = 40% with a minimum score of 0%. Unexcused missing assignments earn a zero.

Before you ask me to waive a missed exam or missed or late assignment, refer back to this policy.

Attendance Policy

Attendance will account for 10% of your final grade and will be taken at the beginning of every class session.

Course Fees

No course fees.

ADA Statement

Students with medical, psychological, learning, or other disabilities desiring academic adjustments, accommodations, or auxiliary aids will need to contact the Disability Resource Center, located in Room 206F of the Sharwan Smith Center or by phone at (435) 865-8042. The Disability Resource Center determines eligibility for and authorizes the provision of services.

If your instructor requires attendance, you may need to seek an ADA accommodation to request an exception to this attendance policy. Please contact the Disability Resource Center to determine what, if any, ADA accommodations are reasonable and appropriate.

Academic Credit

According to the federal definition of a Carnegie credit hour: A credit hour of work is the equivalent of approximately 60 minutes of class time or independent study work. A minimum of 45 hours of work by each student is required for each unit of credit. Credit is earned only when course requirements are met. One (1) credit hour is equivalent to 15 contact hours of lecture, discussion, testing, evaluation, or seminar, as well as 30 hours of student homework. An equivalent amount of work is expected for laboratory work, internships, practica, studio, and other academic work leading to the awarding of credit hours. Credit granted for individual courses, labs, or studio classes ranges from 0.5 to 15 credit hours per semester.

Academic Freedom

SUU is operated for the common good of the greater community it serves. The common good depends upon the free search for truth and its free exposition. Academic Freedom is the right of faculty to study, discuss, investigate, teach, and publish. Academic Freedom is essential to these purposes and applies to both teaching and research.

Academic Freedom in the realm of teaching is fundamental for the protection of the rights of the faculty member and of you, the student, with respect to the free pursuit of learning and discovery. Faculty members possess the right to full freedom in the classroom in discussing their subjects. They may present any controversial material relevant to their courses and their intended learning outcomes, but they shall take care not to introduce into their teaching controversial materials which have no relation to the subject being taught or the intended learning outcomes for the course.

As such, students enrolled in any course at SUU may encounter topics, perspectives, and ideas that are unfamiliar or controversial, with the educational intent of providing a meaningful learning environment that fosters your growth and development. These parameters related to Academic Freedom are included in SUU Policy 6.6.

Academic Misconduct

Scholastic honesty is expected of all students. Dishonesty will not be tolerated and will be prosecuted to the fullest extent (see SUU Policy 6.33). You are expected to have read and understood the current SUU student conduct code (SUU Policy 11.2) regarding student responsibilities and rights, the intellectual property policy (SUU Policy 5.52), information about procedures, and what constitutes acceptable behavior.

Please Note: The use of websites or services that sell essays is a violation of these policies; likewise, the use of websites or services that provide answers to assignments, quizzes, or tests is also a violation of these policies. Regarding the use of Generative Artificial Intelligence (AI), you should check with your individual course instructor.

Emergency Management Statement

In case of an emergency, the University's Emergency Notification System (ENS) will be activated. Students are encouraged to maintain updated contact information using the link on the homepage of the mySUU portal. In addition, students are encouraged to familiarize themselves with the Emergency Response Protocols posted in each classroom. Detailed information about the University's emergency management plan can be found at https://www.suu.edu/emergency.

HEOA Compliance Statement

For a full set of Higher Education Opportunity Act (HEOA) compliance statements, please visit https://www.suu.edu/heoa. The sharing of copyrighted material through peer-to-peer (P2P) file sharing, except as provided under U.S. copyright law, is prohibited by law; additional information can be found at https://my.suu.edu/help/article/1096/heoa-compliance-plan.

You are also expected to comply with policies regarding intellectual property (SUU Policy 5.52) and copyright (SUU Policy 5.54).

Mandatory Reporting

University policy (SUU Policy 5.60) requires instructors to report disclosures received from students that indicate they have been subjected to sexual misconduct/harassment. The University defines sexual harassment consistent with Federal Regulations (34 C.F.R. Part 106, Subpart D) to include quid pro quo, hostile environment harassment, sexual assault, dating violence, domestic violence, and stalking. When students communicate this information to an instructor in-person, by email, or within writing assignments, the instructor will report that to the Title IX Coordinator to ensure students receive support from the Title IX Office. A reporting form is available at https://cm.maxient.com/reportingform.php?SouthernUtahUniv

Non-Discrimination Statement

SUU is committed to fostering an inclusive community of lifelong learners and believes our university's encompassing of different views, beliefs, and identities makes us stronger, more innovative, and better prepared for the global society.

SUU does not discriminate on the basis of race, religion, color, national origin, citizenship, sex (including sex discrimination and sexual harassment), sexual orientation, gender identity, age, ancestry, disability status, pregnancy, pregnancy-related conditions, genetic information, military status, veteran status, or other bases protected by applicable law in employment, treatment, admission, access to educational programs and activities, or other University benefits or services.

SUU strives to cultivate a campus environment that encourages freedom of expression from diverse viewpoints. We encourage all to dialogue within a spirit of respect, civility, and decency.

For additional information on non-discrimination, please see SUU Policy 5.27 and/or visit https://www.suu.edu/nondiscrimination.

Pregnancy

Students who are or become pregnant during this course may receive reasonable modifications to facilitate continued access and participation in the course. Pregnancy and related conditions are broadly defined to include pregnancy, childbirth, termination of pregnancy, lactation, related medical conditions, and recovery. To obtain reasonable modifications, please make a request to title9@suu.edu. To learn more visit: https://www.suu.edu/titleix/pregnancy.html.

Disclaimer Statement

Information contained in this syllabus, other than the grading, late assignments, makeup work, and attendance policies, may be subject to change with advance notice, as deemed appropriate by the instructor.