The New Trading for a Living Study Guide (Wiley Trading) by Elder Alexander

Author:Elder, Alexander [Elder, Alexander]
Language: eng
Format: mobi, epub
ISBN: 9781118984703
Publisher: Wiley
Published: 2014-09-29T23:00:00+00:00

Answer 1-8: D (I and IV)

To win, you don't have to be more intelligent or knowledgeable than other traders, but you must be better disciplined. Your feelings influence your trades, including entries, exits, and risk management. If your mind is clouded by fear or greed, no system will help. Getting high from trading leads to gambling, accepting bad odds, and losing.

Answer 1-9: C (I and III)

You may increase your trading size as long as you don't risk a greater percentage of your equity—we'll return to this in the chapter on risk management. A vacation from trading may not be a bad idea—spend some of the time analyzing what you did right. On the other hand, becoming sloppy with stops and lazy in research are typical behaviors of a loser on a lucky streak.

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