Study Guide for Come Into My Trading Room - Forex Factory

THE ORGANIZED TRADER 137
Answer 93
D. 1, 2, 3, and 4. Give yourself four points for choosing the right
answer.
The trader’s spreadsheet provides a basic record of every trade,
including its performance grade. The equity curve tracks the health of
your account as a whole. The trading diary allows you to learn from
visual records of past trades. The action plan helps you face the next
trading day in a calm and disciplined manner. All of these records are
essential for success; only the ABC rating system is optional. You need it
if you track a large number of stocks and futures, but can do without it if
you watch just a handful.
Answer 94
B. 1 and 2. Give yourself four points for choosing the right answer.
Second-guessing a system, or making trading decisions on the basis
of factors which are not included in the system, dramatically increases
the range of options but reduces the likelihood of success. Secondguessing
raises the level of psychological stress, subverts discipline, and
leads to impulsive trading.
Answer 95
C. 1, 2, and 3. Give yourself four points for choosing the right answer.
Telling people about your open positions is like inviting them to
watch you get intimate with your significant other. It will make you
more popular and invite friendly advice on positions you haven’t considered,
none of which is likely to lead to a successful outcome. You
need to be strong enough to shoulder all the responsibility for a trade;
you may discuss it with others only after closing it.