Please answer the below mentioned questionnaire and be true to yourself
Are you prepared for trading?
Ask yourself the following questions:
1. Do I treat my trading/investing like a business? Have I prepared for it the way I would for a business?
2. Do I have a business plan—a working document to guide my trading business?
3. Do I make mistakes regularly (a mistake means not following my rules)?
4. Am I following a regular procedure to prevent mistakes?
5. Do I have a tested system? (Are you having a trading system)
6. Do I know how that system will perform in different kinds of markets?
7. Do I know what kind of market we are in now and know what to expect from my system in such a market?
8. If I don’t, have I gotten out?
9. Do I have exit points preplanned for every position I currently have in the market?(As a part of Trading System)
10. Have I developed specific objectives for my trading?
11. Do I understand that I achieve my objectives through a position sizing ? Have I developed a specific position sizing algorithm to meet my objectives?
12. Do I understand the importance of the points above?
13. Do I regularly work on myself to make sure that I follow the points above?
Check all the responses that are true for you. If you haven’t circled at least 10 of the 13, you are not taking your trading seriously.
Your financial health is in danger.
You create your own results, and increase /decrease your trading capital.