The New Trading for a Living Study Guide: Wiley Trading (2nd Edition)

The New Trading for a Living Study Guide: Wiley Trading (2nd Edition)

Alexander Elder

Language: English

Pages: 162

ISBN: 2:00258162

Format: PDF / Kindle (mobi) / ePub


Test your trading knowledge and skills—without risking any money
You may read the best trading book, but how much of that knowledge will you retain a week later? This is why you need this Study Guide for The New Trading for a Living. It'll give you a firmer grasp of the essential trading rules and skills. This Study Guide, based on the bestselling trading book of all time, was created by its author to help you master the key points of his classic book.

The Study Guide's 170 multiple-choice questions are divided into 11 chapters, each with its own rating scale. They cover the entire range of trading topics, from psychology to system design, from risk management to becoming an organized trader. Each question is linked to a specific chapter in the main book, while the Answers section functions like a mini-textbook. It doesn't just tell you that A is right or B is wrong—it provides extensive comments on both the correct and incorrect answers.

This Study Guide also contains 17 charts that challenge you to recognize various trading signals and patterns. Everything is designed to help you become a better trader.

Consider getting two books as a package—the Study Guide and The New Trading for a Living. They're designed to work together as a unique educational tool. The Study Guide for The New Trading for a Living is a valuable resource for any trader who wants to achieve sustainable market success.

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chance of trader A being a winner at the end of that coffee break is A. near 100 percent. B. near 50 percent. C. near 0 percent. D. Not enought information to answer. 74 QUESTIONS Question 9-5 Choose the order of importance of the following three money management goals. I. Earn high profits II. Ensure survival III. Earn a steady rate of return A. I, II, III B. II, III, I C. III, II, I Question 9-6 The usefulness of which of the following rules has been proven by experience? I.

C. The amount of money you’ll risk D. The amount of money you plan to make GOOD RECORD-KEEPING 87 Question 11-5 Which statements about using a Trade Apgar are correct? I. The more questions you ask about your plan, the better you’ll be prepared to trade. II. Keep the number of questions about a trade plan down to five. III. Write down detailed responses to questions and weigh them carefully. IV. Use only one of three responses: yes, no, and in-between. A. I and III B. II and IV

C. The amount of money you’ll risk D. The amount of money you plan to make GOOD RECORD-KEEPING 87 Question 11-5 Which statements about using a Trade Apgar are correct? I. The more questions you ask about your plan, the better you’ll be prepared to trade. II. Keep the number of questions about a trade plan down to five. III. Write down detailed responses to questions and weigh them carefully. IV. Use only one of three responses: yes, no, and in-between. A. I and III B. II and IV

any given day. It equals the total long or the total short position. Answer 5-8: 1 = B; 2 = C; 3 = C; 4 = A Open interest rises only when a new buyer and a new seller enter the market because their trade creates a new contract. Open interest falls when a bull who is long sells his contract to a bear who buys it to cover his short trade, and both close out their positions. If a new bull buys from an old bull who’s getting out, open interest remains unchanged. Nor does it change when a new bear

possible. The range of the day was $3 ($29 minus $26). You sold $1 away from the low. Dividing $1 by $3 shows that your grade was 33%—so-so. A good sell grade would be above 50%, meaning you sold in the top half of the bar. Answer 10-10: B Of the three grades for every trade—buy, sell, and overall trade grade—the trade grade is the most important. Since channels are drawn to contain 90 to 95% of recent prices, the height of the channel on the day you enter reflects a realistic maximum available

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