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THE REAL-TIME TREND TRADING EXPERIMENT
™
Trading Apprentice Program
True or False Entrance Exam
Pour yourself a cup of coffee and give yourself a good 5-10 minutes to take the original True or False Entrance Exam that Dennis and Eckhardt used to help vet from the thousands of applicants to their original
Trading Apprentice Program
.
CAN YOU BEAT THE CURRENT AVERAGE SCORE???
68.17 %
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Q01:
One should favor being long or being short, whichever one is comfortable with.
True
False
Q02:
On initiation, one should know precisely at what price to liquidate if a profit occurs.
True
False
Q03:
One should trade the same number of contracts in all markets.
True
False
Q04:
If one has $100,000 to risk, one ought to risk $25,000 on every trade.
True
False
Q05:
On initiation, one should know precisely where to liquidate if a loss occurs.
True
False
Q06:
You can never go broke taking profits.
True
False
Q07:
It helps to have the fundamentals in your favor before you initiate.
True
False
Q08:
A gap up is a good place to initiate if an uptrend has started.
True
False
Q09:
If you anticipate buy stops in the market, wait until they are finished and buy a little higher than that.
True
False
Q10:
Of three types of orders (market, stop, and resting), market orders cost the least skid.
True
False
Q11:
The more bullish news you hear and the more people are going long, the less likely the uptrend is to continue after a substantial uptrend.
True
False
Q12:
The majority of traders are always wrong.
True
False
Q13:
Trading bigger is an overall handicap to one's trading performance.
True
False
Q14:
Larger traders can 'muscle' markets to their advantage.
True
False
Q15:
Vacations are important for traders to keep the proper perspective.
True
False
Q16:
Under trading is almost never a problem.
True
False
Q17:
Ideally, average profits should be about three or four times average losses.
True
False
Q18:
A trader should be willing to let profits turn into losses.
True
False
Q19:
A very high percentage of trades should be profits.
True
False
Q20:
A trader should like to take losses.
True
False
Q21:
It is especially relevant when the market is higher than it's been in 4 and 13 weeks.
True
False
Q22:
Needing and wanting money are good motivators to good trading.
True
False
Q23:
One's natural inclinations are good guides to decision making in trading.
True
False
Q24:
Luck is an ingredient in successful trading over the long run.
True
False
Q25:
When you're long, 'limit up' is a good place to take a profit.
True
False
Q26:
It takes money to make money.
True
False
Q27:
It's good to follow hunches in trading.
True
False
Q28:
There are players in each market one should not trade against.
True
False
Q29:
All speculators die broke.
True
False
Q30:
The market can be understood better through social psychology than through economics.
True
False
Q31:
Taking a loss should be a difficult decision for traders.
True
False
Q32:
After a big profit, the next trend-following trade is more likely to be a loss.
True
False
Q33:
Trends are not likely to persist.
True
False
Q34:
Almost all information about a commodity is at least a little useful in helping make decisions.
True
False
Q35:
It's better to be an expert in one to two markets rather than try to trade ten or more markets.
True
False
Q36:
In a winning streak, total risk should rise dramatically.
True
False
Q37:
Trading stocks is similar to trading commodities.
True
False
Q38:
It's a good idea to know how much you are ahead or behind during a trading session.
True
False
Q39:
A losing month is an indication of doing something wrong.
True
False
Q40:
A losing week is an indication of doing something wrong.
True
False
Q41:
The big money in trading is made when one can get long at lows after a big downtrend.
True
False
Q42:
It's good to average down when buying.
True
False
Q43:
After a long trend, the market requires more consolidation before another trend starts.
True
False
Q44:
It's important to know what to do if trading in commodities doesn't succeed.
True
False
Q45:
It is not helpful to watch every quote in the markets one trades.
True
False
Q46:
It is a good idea to put on or take off a position all at once.
True
False
Q47:
Diversification in commodities is better than always being in one or two markets.
True
False
Q48:
If a day's profit or loss makes a significant difference to your net worth, you're overtrading.
True
False
Q49:
A trader learns more from his losses than his profits.
True
False
Q50:
Except for commission and brokerage fees, execution 'costs' for entering orders are minimal over the course of a year.
True
False
Q51:
It's easier to trade well than to trade poorly.
True
False
Q52:
It's important to know what success in trading will do for you later in life.
True
False
Q53:
Uptrends end when everyone gets bearish.
True
False
Q54:
The more bullish news you hear, the less likely a market is to break out on the upside.
True
False
Q55:
For an off-floor trader, a long-term trade ought to last three or four weeks or less.
True
False
Q56:
Others' opinions of the market are good to follow.
True
False
Q57:
Volume and open interest are as important as price action.
True
False
Q58:
Daily strength and weakness is a good guide for liquidating long-term positions with big profits.
True
False
Q59:
Off-floor traders should spread different markets of different market groups.
True
False
Q60:
The more people are going long, the less likely an uptrend is to continue in the beginning of a trend.
True
False
Q61:
Off-floor traders should not spread different delivery months of the same commodity.
True
False
Q62:
Buying dips and selling rallies is a good strategy.
True
False
Q63:
It's important to take a profit most of the time.
True
False
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