CHECK YOURSELF
You entered a trade simply because everyone in the group chat was taking it.
What is a callout
Before entering a trade, every trader should already know how much they're willing to ______.
What is lose/risk?
The amount of money you're willing to lose on one trade is called this.
What is Risk?
You're angry after a loss and immediately enter another trade. Your decision is being controlled by this.
What are emotions?
You enter a trade and immediately realize the setup you thought you saw isn't actually there.
What is exit the trade?
You missed the original entry, watched the stock run, then jumped in late because you were scared of missing more profit.
What is FOMO
This should be determined BEFORE entering the trade, not after you're already deep in the red.
What is a stop loss?
Increasing your position because a losing trade “has to come back” is known as this.
What is averaging down?
The market is moving without you. Your heart starts racing and suddenly every candle looks like an entry.
What is FOMO?
Your friend sends you “SPY CALLS NOW!!! ” but the trade doesn't meet your rules.
What is don't take the trade?
After two losses, you immediately take another trade with a bigger position because you want your money back.
What is revenge trading?
Your personal rules say maximum 3 trades per day. You're 0–3. Your next move should be this.
What is stop trading ?
You're up $400 on the day. You keep trading unnecessarily and finish down $150. What did you fail to protect?
What are my profits?
You have already hit your daily goal, but you think, “Just one more trade.” This is a warning sign of ______.
What is greed/overtrading?
You're down two trades and feel yourself getting frustrated. What's the accountable move?
What is step away/take a break?
Your setup isn't there, but you convince yourself that it's "close enough."
What is forcing a trade?
You made $500 by breaking every trading rule you created. Was it a good trade?
What is NO?
Trader A makes $1,000 but risks $3,000. Trader B makes $300 while risking $100. Which trader demonstrated better risk management?
Who is Trader B?
After a large loss, the best next trade might actually be this.
What is NO TRADE?
Your stop gets hit. Five minutes later the stock reverses and runs exactly where you predicted. Should you regret following your stop?
What is NO?
Your journal says, “The market took my money,” but you entered without confirmation, broke your contract limit, and had no stop loss. Who is responsible?
ME
Finish this statement: A profitable trade that broke my rules is still a ______.
What is a bad trade?
Your account is $1,000. You risk $500 on one trade. What percentage of your account did you risk?
What is 50%?
Name THREE emotional states that should make you consider stepping away from the market.
What are anger, fear, frustration, desperation, anxiety, greed, etc.?
Accept any reasonable three.
You're having your best trading day of the month and suddenly feel invincible. What dangerous behavior could happen next?
What is overconfidence/overtrading/increasing risk?