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Test Your Trading Emotions

Emotional Trading Test - 2010

Instructions: Mark each question you answer “YES” to and keep track.

Part 1

You do NOT have a comprehensive trading plan you work from?
You do NOT have clear set-up criteria for each trade entry?
You do NOT use a hard stop in your trading?
Do you lack the preparation for your trading day?
Do you have a set of rules you don’t stick too?
Do your losers typically out-weigh your winners?
Do you have BIG swings in your profitability, having several great days, followed by BIGGER “crash and burn” days?
Do you beat yourself up on a losing day and carry it into the next day?
Do you have a plan that gets you back on track when you’re off?
Do you NOT keep track of all your trades?

Total the number of: Yes’s ______

Part 2

Do you lose on the first trade of the day and than are off emotionally for the rest of the days trades?
Were you successful in another profession (Eng., Attny., Dr., other) or life and are finding trading is a direct attack on your confidence and ego?
Do you rush into a trade with no preparation just to “be in the game?”
Do you NOT accept losing?
Do you experience any emotions at any point of the trade like hesitation, apprehension, uncertainty, fear?
Do you double-up on size after a losing streak or when you’re down to re-gain profits faster?
Have you ever been in a trade and gone into the “I don’t care” zone watching your money disappear or let the trade get away from you, with no stop losses in place? “Deer in the headlights?”
Do you trade when you shouldn’t and you’re off and have no discipline to stop and re-group when you need to?
Do you get exhausted after the trading day?
Do you have trouble telling the truth to your spouse about your trading day?
Do you lose sleep over your trading?
Do you find after a losing a large amount of money you are emotionally challenged on every trade after that loss?
You find it impossible to shake off a losing streak, easily?

Total the number of: Yes’s ______

Part 3

Do you see your set-up and still hesitate to enter?
Do you get “hooked” into taking a trade knowing you shouldn’t?
Do you have anxiety when trading and enter too soon?
Are you compelled to exit too quickly instead of waiting for the trade to work completely?
A high percentage of your trades are defensive?
A high percentage of your trades are offensive?
You logically know what to do in the trade but you find you are not taking the actions you should?

Total the number of: Yes’s ______

Total of whole page: Yes’s ______

Click here to determine your evaluation.

Disclaimer: Please read and remember YOU are responsible!

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