The Trader Survey : Ten Questions to ask Yourself

Here are ten questions to ask yourself to see where you are along your own path in the trader’s journey.

Are you willing to exit your trade if it gets to a predetermined price level that indicates you are wrong about it?
Are you structuring trades through position sizing and stop losses so that if you are wrong you will lose no more than 1% to 2% of your total trading capital on any one trade?
Are your entries and exits quantified?
Are you consistently trading a specific method or methods that all your trades fit inside of?
Do you have a written trading plan that gives you rules to follow while the market is open?
Are your trades based out of specific price action?
When you trade do you always do what you planned on doing before the market opened? (Homework)
Is your #1 priority in trading to make money? Do you review your Trades everyday after Market hours , note down the Mistakes & learn from a loss?
Have you done adequate historical back tests on your method or system in different market environments to ensure it is profitable?
Are you willing to do the work necessary to make you a successful trader.

Give yourself ten points for every yes you have.

Results:

0-40 points: You have lots of work to do before you start actively trading, paper trading and homework is what I would focus on at this point to get up to at least 5-9 "YES" before putting real money at risk.

50-90 points: Trade small to learn from real experiences of losses and wins but finish your homework and get to all “YESES” before trading at your full trading size.

100 points: You are ready, only time and the right market conditions separate you from great success if you can maintain your discipline, perseverance, and keep your ego in check.

Feel free to WhatsApp me at 07719887348 & let me know your Trading Score along with your Experience & comments

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Comments

Pre - Market Analysis (30th Jan 2022)

1. U.S Markets closed higher on Friday. 2. Right now , dow futures are lower. 3. Asian markets are mixed. 4. SGX Nifty is up 30-50 Points. 5. There's no point discussing Global markets today. 6. As we are dealing with our own local issues as of now. 7. The talk of the town is Adani Group. 8. Every stock Market participant during last 2 days have not spent as much time with their wife /gf /husband /bf as they have spent on researching Adani stocks. 9. They shouldn't have wasted so much time in research and should've spent their time with loved ones. 10. As Ultimately my Pre Market report would clear all. 11. Now , the Adani stock price has gone below the FPO price. 12. FPO price is in the range of 3100-3200 and stock price is around 2800 13. Who will subscribe to FPO when they can buy shares much cheaper from the Market? 14. Also over the weekend Adani has come up with a 450 page report addressing one by one the allegations made by Hindenberg. 15. I haven't

Pre - Market Analysis (16th June 2022)

U.S Markets closed higher Yesterday. Right now Dow futures are higher by 140 points. Asian markets are higher. SGX nifty is indicating a gap up opening. Yesterday as anticipated Fed increased the interest rates by 75 basis points. This is the largest increase since 1994. There was a relief rally due to the same in U.S market and U.S VIX crashed 10%. How long will this relief rally go on is a big question. Our Markets were terrible yesterday. Everybody is shorting left , right and center. Yesterday all Put options premiums raised in last 30 mins. Even 15200 PE which is 500 points away from spot rose from 4rs to 13rs. Today we might get some short covering as we open and even head higher. 16000 should be a firm resistance for the day. I won't chase this gap up because when Market reverses it's with great speed. I'll look to short near 15950-15980 with a stoploss of 16020. In Bear markets the rallies sre quite ferocious but again markets make fresh lows. So remembe

Pre - Market Analysis (18th August 2022)

U.S Markets closed Flat Yesterday. Asian markets are mixed. SGX Nifty is close to 17940 right now. Yesterday markets broke out of 17900 and now are closer to 18000. 18000 is important as 18000 CE has the highest open interest. Highest amount of calls have been written for 18000 CE strike price. Plus round figures always act as psychological resistance too. Today is the weekly expiry and as of now the range is 17800 to 18000. 17800 is a strong support level and 18000 might act as resistance. Markets will gain steam once 18000 is taken out. Today could be a side-ways expiry. But nothing can be said as markets can always surprise you. IT Index has crossed 30k. Sensex yesterday hit a landmark of 60k. Sensex and Nifty both are now just 3% away from all time highs. So this isnt just a Bull Market , it's a raging Bull Market. India VIX closed below 18 yesterday. Bank Nifty is close to important levels of 40k. Once these important levels are taken out then we move towards all t

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