NFA QUIZ
NFA Trading Quiz
Test your knowledge on trading strategies and risk management with our engaging NFA Quiz! Whether you're a beginner or an experienced trader, this quiz will challenge your understanding of essential trading concepts.
- 10 multiple choice questions
- Immediate feedback on your answers
- Learn key concepts of trading psychology and strategy
Is 6 days a good trading setup?
Yes, the risk is high so that means more profit.
No, a good setup should only be 3-5 days
Yes, the 10 strategies I know of show that I can enter by the 6th day of a setup
Is it good to avoid doing analysis?
Preparation is important to know what you will be trading
I follow what the news says. If it says Buy I Buy and If the say the market will fall I will Sell.
I don't do analysis I just check for levels of support and resistance and enter anywhere
Does risk management matter?
I use big lotsizes even if my account size is to small
What is risk management. I use any lotsize I want to win big.
I know everything the Market will obey me
Risk management is important to help you stay consistent.
Timeframe to use for the NFA strategy
H1 Timeframe
Daily Timeframe
1 Minute Timeframe
Trendlines are not needed
Just know every candlestick and you will make money
Trendlines are needed if you want to know where to enter
Wait for the News event to happen so you can enter
Back-testing is an important factor when you are building your confidence with the market
True
False
It is important to put pressure on yourself as a trader
Pressure is healthy if it pushes you to stick to the trading rules and not be greedy.
I need to rush the process I want tons of cash asap
It's Important to know everything in trading
I know everything the market needs to reward me now
You can know everything and still not succeed because you haven't even mastered one thing
Master what you know and you will be consistent
I just BUY and SELL I don't need knowledge
I need to keep moving to the next best trading technique
You can know every strategy in the world and still not succeed.
Rushing a simple process won't get you anywhere. Results is how I show I'm mastering what I've learnt
Characteristics of a pro trader
Greed, Trades high risk, consistent in blowing accounts.
Hard work, sets time aside to back-test, learns from their silly mistakes and strengthens their mind to not be shaken by a trade that doesn't go their way,
Flashy, opens high risk trades and hopes for the best, thinks the market should obey them.
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