5 XP   0   0   5

Are you ready for live day trading?

Do you think you have what it takes to become a day trader making consistent profits? Find out by answering the next 40 quests!

The next 40 quests will test your knowledge about day trading and general trading concepts extensively. At the end you will know if you have the knowledge to start live day trading with real money. 95% of the people fail this test. Are you one of the 5%? 

1. Money management

Money management is the most crucial part for any trader or investor. If you can’t handle your personal finances, getting started with trading or investing is doomed to fail or worse. 

Quest: Pay yourself first
Campaign: 0 / 42

What other entity in the following list is paying itself first?

Reward:  +10 XP  0   0   0

Quest: Spending money
Campaign: 0 / 42

On what subject do you think average people spend more money on than an average millionaire?

Reward:  +10 XP  0   0   0

Quest: Investing with little money
Campaign: 0 / 42

What would be the cheapest way to invest but has potentially the most value?

Reward:  +10 XP  0   0   0

Quest: Luck
Campaign: 0 / 42

What would best describe luck?

Reward:  +10 XP  0   0   0

 

Quest: Your biggest enemy
Campaign: 0 / 42

What is the biggest enemy you will ever face when trading or investing?

Reward:  +10 XP  0   0   0

2. Basic Charting

When you are day trading, you are looking at charts most of the time. Knowing how to mark up charts to find support & resistance and trends is crucial for any daytrader. 

Quest: Charts

What are charts?

Reward:  +10 XP  0   0   0

Quest: Timeframes

What happens when you select a time frame?

Reward:  +10 XP  0   0   0

Quest: Market structure

Market structure is broken when?

Reward:  +10 XP  0   0   0

Quest: Going short

What is “going short”?

Reward:  +10 XP  0   0   0

3. Reading candlesticks

Quest: Candlesticks

What do you think candlesticks represent?

Reward:  +10 XP  0   0   0

Quest: Bullish momentum

What is a bullish momentum?

Reward:  +10 XP  0   0   0

Quest: Candlestick price type

What price type is number 1 in this picture?

Reward:  +10 XP  0   0   0

Quest: Candlestick example 1

What is true about the following candlestick?

Reward:  +10 XP  0   0   0

Quest: Candlestick example 5

What is true about the candlestick below?

Reward:  +10 XP  0   0   0

Quest: Candlestick example 6

What is true about this candlestick?

Reward:  +10 XP  0   0   0

4. The orderbook

Quest: The orderbook

What do you think the orderbook represents?

Reward:  +10 XP  0   0   0

Quest: Buy orders

Can you know how many buyers are in the top position in the order book?

Reward:  +10 XP  0   0   0

Quest: Whales
Campaign: 0 / 42

What are whales in the context of trading or investing?

Reward:  +10 XP  0   0   0

Quest: Stop loss

What is a stop loss?

Reward:  +10 XP  0   0   0

5. Managing risk

Quest: Break even

If you started with $1000 and lost 50% in a trade gone bad, how much % do you need to win back to get break even (back to $1000)?

Reward:  +10 XP  0   0   0

Quest: Leverage
Campaign: 0 / 42

What is leverage?

Reward:  +10 XP  0   0   0

Quest: Spread
Campaign: 0 / 42

What is spread?

Reward:  +10 XP  0   0   0

Quest: Liquidity

What is liquidity?

Reward:  +10 XP  0   0   0

Quest: Liquidation price

What is the liquidation price in the above example and how much can the price drop before you get liquidated?

Reward:  +10 XP  0   0   0

6. Indicators

Quest: Trading indicators

What are trading indicators?

Reward:  +10 XP  0   0   0

Quest: Overbought and oversold

What does overbought and oversold mean?

Reward:  +10 XP  0   0   0

Quest: Divergence

What is a divergence in trading?

Reward:  +10 XP  0   0   0

Quest: Volume

What is volume in trading?

Reward:  +10 XP  0   0   0

Quest: Four types of indicators

What are the four types of indicators?

Reward:  +10 XP  0   0   0

Quest: Volatility
Campaign: 0 / 42

What is volatility?

Reward:  +10 XP  0   0   0

7. Backtesting and trading journal

Quest: Backtesting

Why should you never skip backtesting any day trading strategy?

Reward:  +10 XP  0   0   0

Did you awnser all questions correctly? Let me know in the comment section below!

P.s. all of the above quests and much more information can be found in our free ultimate day trading guide.

Penke

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