Homework #1 HOMEWORK ALERT – Complete your Trader Assessment before starting Class 2 New Trader Assessment – Homework #1 Completing your homework is for your own benefit. Answers should be in Paragraph form. If you want to succeed as a trader, you have to show motivation & discipline. *Required Trader Assessment before proceeding Name Email Trading Questions: 1. Why do you want to learn to day trade?2. What are you going to do that is different from the 90% of traders who fail?3. What are your daily, weekly, and annual profit targets?4. What are you going to do when you have a bad day?5. Why is reporting your trades important? What method will you use for reporting trade logs?6. Are you planning to attend our Warrior Pro Mentor sessions?7. Give me an outline of your trading plan if you were going to create one right now. Even if you are a very beginner, this will help you as you develop your strategy.8. What time of day are you going to be trading?9. How many hours/day are you going to be able to dedicate to studying?10. What tools and services are you going to subscribe to while you are training?Financial Questions: 11. How long could you sustain yourself right now if you didn’t have any income? How many months of savings do you have?12. How are you going to support yourself financially during the time while you are trading in a simulator? Are you still working or have savings?13. What size account will you be starting with when you go live?14. Do you currently have a live trading account? If so, what broker are you using and what do you like/dislike about trading there.15. If you’ve been trading with real money what are your profits/losses looking like?16. If you’ve been trading with real money, what strategies are you implementing and what has been working/nor working?17. When you trade in the simulator what will you do to make sure you treat it like real money?Computer Proficiency Questions: 18. Describe your level of computer proficiency. Do you know how to use Excel, Word, Photoshop? Do you know how to use copy/paste key commands? Do you know how to adjust settings for an application? Do you know how to install programs, do you know how to uninstall programs?19. Are you currently using a Mac or a PC? Which are you more comfortable with? Although both can be used for trading, a lot of the software professional traders use is Windows based.20. Please take this Typing Test: http://www.typingtest.com/. I would like to see your results 40 words per minute or higher. This tells me you are pretty quick on the keyboard! What were your results? Welcome to your ACTIVE - DTC #1 Quiz Name Email 1. What are the basic tools you need to start trading? An Internet Connection (preferably 5mb/sec or faster, check www.FAST.com for your speedtest). A computer preferably not more than 4 years old. A brokerage account or SIM trading account All of the Above 2. Before trading with real money, what do you need to do? Complete the entire Warrior Starter and Warrior Pro Course Prove I can make at least $5,000 in the Trading Simulator All of the Above. 3. What is the float? The Market Cap The number of shares available to trade The PE Ratio All of the Above 4. When you take a short position, how do you profit? When the stock goes up. When the stock goes down. 5. When you are shorting stocks, what do "days to cover mean"? The number of days it's recommended that you cover for profit. The number of days most traders are holding the stock short. The max number of days your broker will let you borrow the shares to short. All of the Above 6. What does SSR Stand for? Strong Stock Restriction Short Sale Restriction Standing Stop Reserve Short Sale Reserve 7. What is a trip zero stock? A stock priced over $1,000 A stock priced over $100 A stock priced between .0001 - .0009 A stock that is up more than 100% 8. As an aspiring trader, which statement is the correct approach to trading? Become good at several different strategies Learn a little bit about Options, Swing Trading, Crpyto, Forex and Futures Study macro patterns Become a master of 1 strategy 9. How can I reduce risk as a trader? Trade in a SIM before trading with real money Avoid stocks priced below $1.00 Avoid OTC stocks that are being actively promoted All of the Above. 10. What is the most important component of 30 day trading plan? Keeping tight stops and respecting max losses. Winning 100% of the time. Getting big winners. All of the Above.