Today's Guest blogger is Norman Hallett from The Disciplined Trader, and today he's challenged us to answer two very tough questions that ALL traders should sit down and think about. They have to do with our mental approach and Norman's one of the best at helping traders.
These are the first two questions of a 10 question quiz. If you want to see where you stand as a disciplined trader (or lack of it!) then take the whole 10-question quiz. It won't take much time and it's free. He's looking forward to your answers and comments!
The following 2 questions will conjure up different visions for each person. The idea is to relate to certain trading experiences and what actually happened in such situations-not what sounds like the best answer. Moreover, if a described situation has not yet been experienced, try to make an honest appraisal of how you would act. Again, not what sounds correct but how you think you would actually correct. Remember, being a successful trader requires continuous and almost brutal self-appraisal.
There are no “perfectly disciplined” traders. But there are many traders who come close. This quiz is meant to help you assess where you are in your quest to be The Disciplined Trader and help you to identify areas that you may want to improve upon… because the way to maximize your potential as a trader is BE The Disciplined Trader, and adhere to your tested trading plan without hesitation.
The following are the first 2 questions (and answers).