Basic Training Quiz 3

TG Day Trading Stock And Options Course

Choose the best answer from the available choices. One response must be selected for each question.

1) What are the benefits of studying your trade log to identify your own behavior patterns?

Consistency in following my rules, a disciplined mindset, and growth as a trader.

I feel really good when I see all the money I'm making, and it motivates me to chase the "high" of winning.

If I look hard enough and bend the truth just a little, I'll find ways to rationalize my impulsive decisions.

My behavior patterns are just fine. Any bad trades I experience are because the market is rigged, so studying my trade log is of no value to me.

2) What role do your expectations play in the development of your day trading strategy?

I heard a friend talk about the power of positive thinking and some secret that only super successful people know about. It totally sounds logical to me, so I will just originate so many positive thoughts that I can expect every trade to turn out profitably for me.

My expectations are crucial for mapping my path to becoming a successful day trader, but in order for them to be hepful they must be realistic, grounded in replicable data, and always viewed as the byproducts of my process. If I direct my time and attention towards executing and adjusting my process to its optimal effectiveness, my expectations can be fulfilled.

My expectations are that I will be a successful day trader if apply the tips my Aunt Susankeeps feeding me about how she traded wheat, coffee and orange juice futures back in the eighties. She traded tons upon tons of those commodities and made enough to pay off her entire mortgage, so that's my reference point for setting my expectations.

All of the above are correct.

3) Should you handle good trades and bad trades the same way, with respect to your behavior?

Yes, because my coach said so, but I'm not sure why it's important because I was daydreaming during those particular lessons.

No, a more effective approach is to get really upset and never forgive myself for bad trades, but to assume I just got lucky on my good trades.

No, it doesn't help to pay attention to good or bad trades because the stock market is rigged. I have no chance against the billionaire manipulators so I'll never get good at day trading.

Yes, nobody should be able to tell whether or not I just made a good or bad trade because I stay calm, review and log every trade with the same systemic process, and only change my rules if a pattern emerges - not just change my approach every time I have a losing trade.

4) Which of the following choices are benefits of using automated filter rules to test your day trading strategy?

Filters allow me to leverage modern computing power to remember, track, and manage fast-moving numbers, which is simply impractical to attempt with just my brain.

All of my filters measure some different aspect of risk in my day trading, so they allow me to manage a wide variety of risk factors simultaneously.

Testing my strategy with filters in the simulator is just as effective as testing manually, but it is far more efficient so it benefits me by conserving my precious time.

All of the above are benefits of using filters to test my day trading strategy.

Basic Training Quiz 3

TG Day Trading Stock And Options Course

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