How were the Turtles screened in 1984? One part of the process involved answering the following true-false questions. Assume that trend means uptrend, position means a long, and liquidation means selling. How were the Turtles screened in 1984? One part of the process involved answering the following true-false questions. Assume that trend means uptrend, position means a long, and liquidation means selling.
True or False
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The big money in trading is made when one can get long at lows after a big downtrend.
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It’s good to average down when buying.
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After a long trend, the market requires more consolidation before another trend starts.
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It’s important to know what to do if trading in commodities doesn’t succeed.
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It is not helpful to watch every quote in the markets one trades.
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It is a good idea to put on or take off a position all at once.
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Diversification is better than always being in 1 or 2 markets.
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If a day’s profit or loss makes a significant difference to your net worth, you are overtrading.
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A trader learns more from his losses than his profits.
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Except for commission and brokerage fees, execution costs for entering orders are minimal over the course of a year.
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It’s easier to trade well than to trade poorly.
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It’s important to know what success in trading will do for you later in life.
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Uptrends end when everyone gets bearish.
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The more bullish news you hear the less likely a market is to break out on the upside.
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For an off-floor trader, a long-term trade ought to last 3 or 4 weeks or less.
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Other’s opinions of the market are good to follow.
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Volume and open interest are as important as price action.
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Daily strength and weakness is a good guide for liquidating long term positions with big profits.
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Off-floor traders should spread different markets of different market groups.
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The more people are going long the less likely an uptrend is to continue in the beginning of a trend.
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Off-floor traders should not spread different delivery months of the same commodity.
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Buying dips and selling rallies is a good strategy.
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It’s important to take a profit most of the time.
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Of 3 types of orders (market, stop, and resting), market orders cost the least skid.
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The more bullish news you hear and the more people are going long the less likely the uptrend is to continue after a substantial uptrend.
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The majority of traders are always wrong.
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Trading bigger is an overall handicap to one’s trading performance.
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Larger traders can muscle markets to their advantage.
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Vacations are important for traders to keep the proper perspective.
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Undertrading is almost never a problem.
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Ideally, average profits should be about 3 or 4 times average losses.
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A trader should be willing to let profits turn into losses.
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A very high percentage of trades should be profits.
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A trader should like to take losses.
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It is especially relevant when the market is higher than it’s been in 4 and 13 weeks.
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Needing and wanting money are good motivators to good trading.
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One’s natural inclinations are good guides to decision making in trading.
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Luck is an ingredient in successful trading over the long run.
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When you’re long, limit up is a good place to take a profit.
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It takes money to make money.
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It’s good to follow hunches in trading.
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There are players in each market one should not trade against.
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All speculators die broke
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The market can be understood better through social psychology than through economics.
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Taking a loss should be a difficult decision for traders.
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After a big profit, the next trend following trade is more likely to be a loss.
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Trends are not likely to persist.
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Almost all information about a market is at least a little useful in helping make decisions.
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It’s better to be an expert in 1-2 markets rather than try to trade 10 or more markets.
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In a winning streak, total risk should rise dramatically.
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Trading stocks is similar to trading commodities.
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It’s a good idea to know how much you are ahead or behind during a trading session.
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A losing month is an indication of doing something wrong.
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A losing week is an indication of doing something wrong.
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One should favor being long or being short – whichever one is comfortable with.
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On initiation one should know precisely at what price to liquidate if a profit occurs.
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One should trade the same number of contracts in all markets.
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If one has $10000 to risk, one ought to risk $2500 on every trade.
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On initiation one should know precisely where to liquidate if a loss occurs.
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You can never go broke taking profits.
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It helps to have the fundamentals in your favor before you initiate.
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A gap up is a good place to initiate if an uptrend has started.
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If you anticipate buy stops in the market, wait until they are finished and buy a little higher than that.
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