These questions are from Trading in the Zone by Mark Douglas. This is one of my favorite books on trading. These questions will help you to become a more successful trader / investor by assisting you in examining your current mental framework. Please complete this quiz prior to reading Trading in the Zone and keep in mind that there are no wrong answers. After you have finished the last chapter of Trading in the Zone, take the attitude survey again (Attitude Survey #2). You may be very surprised at how much your answers change.
Question 1 of 29
To make money as a trader/investor, you have to know what the market is going to do next.
Agree
Disagree
Question 2 of 29
Sometimes I find myself thinking that there must be a way to trade without taking a loss.
Question 3 of 29
Making money as a trader is primarily a function of analysis.
Question 4 of 29
Losses are an unavoidable component of trading.
Question 5 of 29
My risk is always defined before I enter a trade.
Question 6 of 29
In my mind, there is always a cost to finding out what the market will do next.
Question 7 of 29
I wouldn't even bother putting on the next trade if I wasn't sure that it was going to be a winner.
Question 8 of 29
The more the trader learns about the markets and how they behave, the easier it will be for him or her to execute trades.
Question 9 of 29
My methodology tells me exactly under what market conditions to either enter or exit a trade.
Question 10 of 29
Even when I have a clear signal to reverse my position, I find it extremely difficult to do.
Question 11 of 29
I have sustained periods of consistent success usually followed by fairly drastic draw-downs in my equity.
Question 12 of 29
When I first started trading I would describe my trading methodology as haphazard, meaning some success in between a lot of pain.
Question 13 of 29
I often find myself feeling that the markets are against me personally.
Question 14 of 29
As much as I try to "let go," I find it very difficult to put past emotional wounds behind me.
Question 15 of 29
I have a money management philosophy that is founded in the principle of always taking some money out of the market when the market makes it available.
Question 16 of 29
A trader's/investor's job is to identify patterns in the market's behavior that represent an opportunity and then determine the risk of finding out if these patterns will play themselves out as they have in the past.
Question 17 of 29
Sometimes I just can't help feeling that I am a victim of the market.
Question 18 of 29
When I trade, I usually try to stay focused in one time frame.
Question 19 of 29
Trading/Investing successfully requires a degree of mental flexibility for beyond the scope of most people.
Question 20 of 29
There are times I can definitely feel the flow of the market; however, I often have difficulty acting on those feelings.
Question 21 of 29
There are many times when I am in a profitable trade and I know the move is basically over, but I still won't take my profits.
Question 22 of 29
No matter how much money I make on a trade, I am rarely ever satisfied and I feel I could have made more.
Question 23 of 29
The most important component in a trader's/investor's ability to accumulate money over time is having a belief in his or her own consistency.
Question 24 of 29
If you were granted a wish to be able to instantaneously acquire one trading skill, what skill would you choose?
Question 25 of 29
Question 26 of 29
I often spend sleepless nights about the market.
Question 27 of 29
Do you ever feel compelled to make a trade because you are afraid you might miss out?
Yes
Never
Question 28 of 29
Do you ever find yourself planning trades you never execute, and executing trades you never planned?
No
Question 29 of 29
In a few sentences, please explain why most traders/investors either don't make money or aren't able to keep what they make.