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The power allocation, training signal length, and training signal which maximize a lower bound on the capacity of a Rician time-varying channel are found in this paper. We consider the case where the channel consists of two components: a specular component from line-of-sight or strong rays, and a time-varying diffuse component due to a mobile receiver or scatterers. Trained modulation is the most common technique for accommodating such time-varying channels. We optimize a lower bound on the capacity to find the parameters mentioned above. Our results are illustrated with several numerical examples.