Personality
Test
**Please
read the risk disclaimer below. The following personality
questionaire is a simplified illustration of different personality
traits and has no direct or implied relationship to the forex
market.
Ever
wonder if you have what it takes to be an effective trader?
Ever wonder what type of personality traits may correspond
to a type of trader? Below is a set of 15 questions. For every
quesiton, each answer corresponds to a specific number of
points. Total up the points after answering all 15 questions
and refer to the Response
Section and the Score
Section to determine the type of trading may correspond
to your answers.
Questions
1.
Are you a morning person?
a)
Yes
b) No
c) Sometimes
d) If I have to be
2.
Are you a night person?
a)
Yes
b) No
c) Sometimes
d) If I have to be
3.
You are an Internet, Microsoft X-Box, Sony Play Station, Nintendo,
Atari, RPG Games Gamer?
a)
Yes [3 points]
b) No [4 points]
c) Sometimes [3 points]
d) Not Applicable [2 points]
4.
You have had other currencies in your wallet before (i.e CAD,
EURO).
a)
Yes [3 points]
b) No [2 points]
c) I know one currency besides USD [3 points]
d) I only know the US dollar [1 point]
5.
Are you familiar with stocks and have a broker or representative
that takes care of equities trading for you?
a)
Yes [3 points]
b) No [2 points]
c) I do not trade stocks but something else [2 points]
d) I do not know what stocks are [1 point]
6.
Have you traded stocks online yourself?
a)
Yes [4 points]
b) No [2 points]
c) I do not trade stocks [1 point]
d) I know you can do that, but never tried [2 points]
7.
Do you have mutual funds or any type of managed funds?
a)
Yes [4 points]
b) No [2 points]
c) Had some for 15+ years [3 points]
d) Not aggressive enough for me [1 point]
8.
Imagine yourself in a Math class reading line charts and bar
charts with simple numbers.
a)
Feels comfortable [4 points]
b) You feel discomfort and anxiety [3 points]
c) Neutral feeling [2 points]
d) You ask, "Can I look at numbers and forget about charts"
[1 point]
9.
You are sitting by the pond with a fishing rod in your hand,
waiting for a bite.
a)
Waiting patiently for the big one to come by [5 points]
b) Packing and going to the store to buy a fish [1 point]
c) I don't fish [2 points]
d) You ask, "What's a fishing rod? I use a net"
[2 points]
10.
You have not won anything in your life. At a company dinner,
your name is called out to receive a 64" plasma TV.
a)
You are happy [2 points]
b) You think it's the wrong name called out [3 points]
c) Jump up and down kissing your supervisor [1 point]
d) You ask, "What does the TV come with?" [5 points]
11.
Your Bank of America personal banker calls you and explains
that he has a great investment portfolio tailored for you.
a)
Haven't given much thought [1 point]
b) Thinking how much to save and how much to spend [2 points]
c) Should be a simple 1-2-3 thing so want it to be automated
[4 points]
d) Done some variations of something similar for 5+ years
[4 points]
12.
You are at the grocery store and have stood in line for 15
minutes behind a nagging shopper.
a)
Don't care because you are in a happy state of being [5 points]
b) Ready to drop everything and run out the door [1 point]
c) It depends [3 points]
d) Would never stand in line for that long [2 points]
13.
Disneyland is having their 50th Anniversary. Your friend dares
you to ride on the award-winning roller-coaster.
a)
Yes, without trepidation [1 point]
b) No, and sweating [4 points]
c) I'm too old for rides [4 points]
d) Ask what's a roller coaster and plays dumb [2 points]
14.
You are arguing for a passing mark on your paper and your
teacher is subjective. Your chances of winning are 50/50.
a)
Present your case with confidence [2 points]
b) Not argue and take it up to a panel of teachers [3 points]
c) Present your case with cold sweat [1 point]
d) You ask your teacher, "How do I increase the odds?"
[4 points]
15.
You have surf the internet for 2 straight hours and your back
is stiff.
a)
Stretch and go again because it is important [2 points]
b) That's enough for you [3 points]
c) Would have gotten up an hour ago [2 points]
d) Can never stand technology for more than 30 minutes each
time [4 points]
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What
do your Responses mean?
1.
Are you a morning person?
Answer
a): Congratulations! You are a full fledged
US market trader! You will be active when the market
is active from 8:00am EST to 5:00pm EST. Remember, the market
is very volatile in the morning from 8:00am EST (5:00am PST)
to ~2:00pm EST (11:00am PST).
High
potential trading exists with the following tradable pairs:
EUR/USD, GBP/USD, USD/CAD, USD/JPY.
Answer
b): Congratulations! You are a full fledged
London market trader! You will be active when the market
is active from 2:00am EST to 11:00 am EST. The market is very
volatile from 2:00am EST (11:00 pm PST) to 6:00am EST (3:00am
PST). We suggest you take retracement trades that may occur
in the afternoons or start fresh during the London session.
High
potential trading exists with the following tradable pairs:
EUR/USD, GBP/USD, USD/CAD, USD/JPY.
Answer
c) & d): Congratulations! You are a flexible
Trend and Retracement trader. The market is open
24 hours and you can trade trends which occur early in the
session (London or US) or retracements which may occur as
the markets adjusts after the morning. After some practice
the Japanese session might be of your interest. This session
starts at 7:00pm EST (4:00pm PST).
High
potential trading exists with the following tradable pairs:
EUR/USD, GBP/USD, USD/CAD, USD/JPY.
2. Are you a night person?
Answer
a): Congratulations! You are a full fledged
London market trader! You will be active when the
market is active from 2:00am EST to 11:00 am EST. The market
is very volatile from 2:00am EST (11:00 pm PST) to 6:00am
EST (3:00am PST). We suggest you to take retracement trading
that will occur at afternoons or start fresh during the London
session.
High
potential trading exists with the following tradable pairs:
EUR/USD, GBP/USD, USD/CAD, USD/JPY.
Answer
b): Congratulations! You are a full fledged
US market trader! You will be active when the market
is active from 8:00am EST to 17:00pm EST. Remember, the market
can be very volatile in the morning from 8:00am EST (5:00am
PST) to 1:00pm EST (10:00am PST).
High
potential trading exists with the following tradable pairs:
EUR/USD, GBP/USD, USD/CAD, USD/JPY.
Answer
c) & d): Congratulations! You are a flexible
Trend and Retracement trader. The market is 24 hours
active and you can trade trends which occur early in the session
(London or US) or retracements which may occur as the markets
adjusts after the morning. After some practice the Japanese
session might be of your interest. This session starts at
7:00pm EST (4:00pm PST).
High
potential trading exists with the following tradable pairs:
EUR/USD, GBP/USD, USD/CAD, USD/JPY.
Go
to Top
What does your score mean?
Your
Total Score is under 20
Your
Total Score is 21-31
Your
Total Score is 32-38
Your
Total Score is over 39
Your
Total Score is under 20
You may be new to trading and have very little
to no experience. At this point in time, you may be interested
in day-trading and devoting approximately 1-2 hours each time.
Suggestion:
Practice on the demo account for the next 30 days. Please
contact us and we'll be happy to provide you with an account.
5min/1
day charts: Trade with a demo account and experience what
trading is all about.
After
two weeks (30-100 trades), revisit your trading report and
examine all the successes and negative trades. Do not repeat
the mistakes which translated into negative trades.
Go
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Your
Total Score is 21-31
You've
looked into trading (equities, options, futures, commodities...)
before and may have previous trading experience. Although
foreign currency trading is a new topic, foreign currency
alone is not; EURO, British Pound, Canadian Dollars, etc...
Your
preference may be to take trades on a daily basis and to close
them out within 4 hours or less. This will eventually grow
to longer trades with more profit potential while spending
less and less time on the computer.
Suggestion:
Try trading with 5min/1 day charts for 30 days. Then focus
primarily on 1hr/ 10 day charts.
5min/1
day charts: Trade with a demo account and experience what
trading is all about.
After
two weeks (30-100 trades), revisit your trading report and
examine all the positive and negative trades. Do not repeat
the mistakes which translated into negative trades. Find a
partner to trade with you!
Go
to Top
Your
Total Score is 32-38
You
understand the mental requirements needed to be a successful
trader and possess good trading qualities. Continue to familarize
yourself with the various technical tools available on the
trading platform. Mistakes will be made, and lessons will
be learned on the demo account. Your comfort level lies with
the 1hr/10 day charts or 4hr/30 day charts. Your trading pattern
will be weekly, with anywhere between 3-10 trades per week
depending on the number of lots.
Suggestion:
Trade with 5min/1 day charts for 15 days. Then focus primarily
on 1hr/ 10 day harts.
5min/1 day charts: Trade with a demo account and experience
what trading is all about.After
two weeks (30-100 trades), revisit your trading report and
examine all the successes and negative trades. Do not repeat
the mistakes which translated intonegative trades. Find a
partner to trade with you!
Go
to Top
Your
Total Score is over 39
You
may be a golfer, fisher, or a lawn bowler. A more patient
style of trading while recognizing entry and exit trade criteria
is what you lean towards. The currency world is moving 24
hours a day, and you are not the type to get worked up for
a few pips.
You
are suitable to be a mid-term to long-term trader who spends
very little time looking at charts. Your prime interest in
trading would be low traffic, high returns. This would involve
longer term charts and different preset parameters on technical
studies.
Suggestion:
Try trading with 5min/1 day charts for 5 days. Then focus
primarily on 1hr/ 10 day charts and daily charts for the next
30 days.
Revisit
your trading report and examine all the positive and negative
trades. Utilize the technical tools that are most effective
for your trading. Find a partner to trade with you!
Go
to Top
Trading
foreign currencies is a challenging and potentially profitable
opportunity for investors. However, before deciding to participate
in the Forex market, you should carefully consider your investment
objectives, level of experience and risk appetite. Most importantly,
invest only excess capital and what you are able to risk.
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