Study Guide for Come Into My Trading Room - Forex Factory

MIND—THE DISCIPLINED TRADER 93
The key difference between a businessman’s risk and a loss is the fact
that the risk is limited to a small percentage of the account. Both can
hurt an account and impact a trader’s survival, but a thoughtful businessman
limits his risk to contain the damage and promote long-term
survival and success.
Answer 14
B. 2 and 5. Give yourself five points for choosing this answer, or two
points if you answered C or D (one correct out of two).
The secret of trading is that there is no secret. Success requires hard
work, discipline, flair, and attention to detail. It requires your undivided
attention, especially in the beginning, while you’re still learning the
basics. Trading rules are very attractive—you may bet on a race after it
starts and exit before it ends. Still, the battle for survival and profit is full
of dangers, while its entertainment value distracts most people.
Answer 15
D. 1, 2, 3, and 4. Give yourself five points for answering D, or two
points if you answered C or E.
A professional trader stands apart from the crowd and makes his own
decisions. When the market throws him a curve, he doesn’t blame anyone,
but finds out what he should have done differently. He gets an
edge from having plans for rallies and declines, allowing him to move
ahead and act, while others are just starting to figure out what to do. He
is rarely eager to share his knowledge because most people ask for
methods, while he knows that the key to winning is discipline, which is
hard to teach.
Answer 16
E. All of the above. Give yourself five points for answering correctly.
A disciplined person puts trading first, and works on it daily. He tests
every rule, reviews markets for trading signals, and keeps elaborate writ-