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%?

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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?

Your employer The government Your bank Your parents

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?

Groceries Restaurants Clothing

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?

Buying bitcoin Buying stocks Buying a book about investing, trading or entrepeneurship

Reward: +10 XP 0 0 0

Quest: Luck

Campaign: 0 / 42

What would best describe luck?

Luck is a random event Luck is created Luck cant be influenced

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?

Market fluctuations (bad news, financial crisis, pandemic, etc) People trying to convince you of investing in X or Y Your emotions

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?

Plotting the orderbook on a chart Showing which trades have been made in a certain period of time Showing the price movement of the selected asset in a certain timeframe

Reward: +10 XP 0 0 0

Quest: Timeframes

What happens when you select a time frame?

The price from the selected timeframe will be shown. For example, the price from the last 15 minutes It will show all trades made in the selected timeframe All shown candlesticks will represent the selected timeframe

Reward: +10 XP 0 0 0

Quest: Market structure

Market structure is broken when?

No higher highs and higher lows are formed in a bullish trend No higher lows and higher highs are formed in a bearish trend No lower lows and lower highs are formed in a bearish trend No lower higher and lower lows are formed in a bullish trend When price breaks out the rectangle or lines in consolidation phase

Reward: +10 XP 0 0 0

Quest: Going short

What is “going short”?

Placing sell orders Placing buy orders Anticipating a bearish trend and profit from it Anticipating a bullish trend and profit from it Selling your position because the price is going down

Reward: +10 XP 0 0 0

3. Reading candlesticks

Quest: Candlesticks

What do you think candlesticks represent?

The opening and closing of the price The lowest and highest price The opening, closing, lowest and highest price The opening, closing, lowest and highest price per day

Reward: +10 XP 0 0 0

Quest: Bullish momentum

What is a bullish momentum?

Price going down Price going up Price not moving

Reward: +10 XP 0 0 0

Quest: Candlestick price type

What price type is number 1 in this picture?

The closing price The lowest price The opening price The highest price

Reward: +10 XP 0 0 0

Quest: Candlestick example 1

What is true about the following candlestick?

There is no lowest price The price never dropped below the opening price The opening price = lowest price

Reward: +10 XP 0 0 0

Quest: Candlestick example 5

What is true about the candlestick below?

The opening and closing price are the same The opening and highest price are the same The opening and lowest price are the same The closing and lowest price are the same The closing and highest price are the same

Reward: +10 XP 0 0 0

Quest: Candlestick example 6

What is true about this candlestick?

The closing and opening price are the same The opening and highest price are the same The closing and highest price are the same The closing and lowest price are the same

Reward: +10 XP 0 0 0

4. The orderbook

Quest: The orderbook

What do you think the orderbook represents?

Consists of all buyers and sellers who do not agree about the price Consists of all buyers and sellers who agree about the price History of all trades Only orders that took place

Reward: +10 XP 0 0 0

Quest: Buy orders

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

There is only 1 buyer There are multiple buyers You never know how many buyers there are

Reward: +10 XP 0 0 0

Quest: Whales

Campaign: 0 / 42

What are whales in the context of trading or investing?

Traders or investors that placed big buy or sell orders Traders or investors that just made a lot of money Traders or investors that own a significant amount of shares or cryptocurrencies Traders or investors that own a significant amount of money

Reward: +10 XP 0 0 0

Quest: Stop loss

What is a stop loss?

A trigger that will fill the first buy order(s) in the orderbook once the price hits X A manual sell order that is placed before price hits X A way to minimise risk Provides 100% protection against losses beyond the price set at the stop loss A trigger that will set off a market sell order when price hits X

Reward: +10 XP 0 0 0

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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?

Borrowing money to get more buying power Increasing your capital to be able to buy more Taking a position in highly risky financial products

Reward: +10 XP 0 0 0

Quest: Spread

Campaign: 0 / 42

What is spread?

Trading without commissions Spreading your buy and sell order over multiple positions The difference between the ask and sell price

Reward: +10 XP 0 0 0

Quest: Liquidity

What is liquidity?

How much the prices move up and down How much trades there are made within the selected time frame How easy it is to buy or sell an asset for a reasonable price How many buyers and sellers there are in the market

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?

$48000 + max price drop of ~ $500 $48004 + max price drop of ~ $300 $34000 + max price drop of ~ $300

Reward: +10 XP 0 0 0

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6. Indicators

Quest: Trading indicators

What are trading indicators?

Indication of where the price will go Mathematical calculations which are plotted on the chart as lines or other signals Indications to tell you to buy or sell

Reward: +10 XP 0 0 0

Quest: Overbought and oversold

What does overbought and oversold mean?

Overbought means that to many traders bought the asset causing the price to rise Oversold means that to many traders sold the asset causing the price to fall Overbought means that the asset is trading above its intrinsic value Overbought and oversold are an indication of how many buyers and sellers there are in the market Oversold means that the asset is trading below its intrinsic value

Reward: +10 XP 0 0 0

Quest: Divergence

What is a divergence in trading?

The difference in price between buyers and sellers When both price and indicator(s) are going in the same direction When price moves in the opposite direction of the indicator(s)

Reward: +10 XP 0 0 0

Quest: Volume

What is volume in trading?

How much of the current asset is available for buying and selling The number of assets that changed hands in a certain period of time The number of assets that are sold in a certain period of time The number of assets that are bought in a certain period of time

Reward: +10 XP 0 0 0

Quest: Four types of indicators

What are the four types of indicators?

Trend, momentum, liquidity and volume indicators Trend, momentum, volatility and volume indicators Trend, overbought, oversold and volume indicators Momentum, volume, volatility and divergence indicators

Reward: +10 XP 0 0 0

Quest: Volatility

Campaign: 0 / 42

What is volatility?

Lots of activity in the market How fast something can be bought or sold Measurement of fluctuation in price over an x period of time

Reward: +10 XP 0 0 0

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7. Backtesting and trading journal

Quest: Backtesting

Why should you never skip backtesting any day trading strategy?

Because you need to verify if the strategy works Because you need to test what the win % is Because you need to test what the losing % is Because you need to know how much risk you can take each trade

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.