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Traders -17-POINT QUESTIONNAIRE TO EVALUATE YOURSELF

  
  Education
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To help you with your self-assessment, Dr. Tharp developed a quick 17-point questionnaire you can use to evaluate yourself. Take it and pass it on to your friends; I’m sure you’ll all get some insights into your performance. Answer each question with true or false.

  1. I have a written business plan to guide my trading/investing. ____
  2. I understand the big picture about what the market isdoing and what is affecting it. ____
  3. I am totally responsible for my trading results, and as as result I can correct my mistakes continually. (If either part is false, all of this statement is false.) ____
  4. I honestly can say that I do a good job of letting my profits run and cutting my losses short. ____
  5. I have three trading strategies that I can use that fit the big picture. ____
  6. For trading strategy 1 I have collected an R-multiple distribution of at least 50 trades (i.e., from historical data or live trading). If you don’t know what an R-multiple distribution is, which you’ll learn later in this book, you haven’t collected one, so answer “False.” ____
  7. For trading strategy 2 I have collected an R-multiple distribution of at least 50 trades (i.e., from historical data or live trading). ____
  8. For trading strategy 3 I have collected an R-multiple distribution of at least 50 trades (i.e., from historical data or live trading). ____
  9. For each of my trading strategies, I know the expectancy and the standard deviation of the distribution. ____
  10. For each of my strategies, I know the types of markets in which they work and in which they don’t work. ____
  11. I trade my strategies only when the current market type is one in which the strategies will work. ____
  12. I have clear objectives for my trading. I know what I can tolerate in terms of drawdowns, and I know what I want to achieve this year. ____
  13. Based on my objectives, I have a clear position sizing strategy to meet those objectives. ____
  14. I totally understand that I am the most important factor in my trading, and I do more work on myself than on any other aspect of my trading/investing. ____
  15. I totally understand my psychological issues and work on them regularly. ____
  16. I do the top tasks of trading on a regular basis. ____
  17. I consider myself very disciplined as a trader/investor. ____

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