Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Mr. DVD Trading > Session #1 - post lesson information bundle > Flashcards

Session #1 - post lesson information bundle Flashcards

1
Q

What is the major mistake most new traders make?

A

being to anxious to trade

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What should you do with every teaching and or strategy before you risk money on it?

A

make sure it pans out on a demo account

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

A candle that has the body in the upper 50% of the total candle is what?

A

a signal candle

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What are signal candles used for?

A

to “signal” you that a trade opportunity may be shaping up

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What do you do after you find a signal candle?

A

create a horizontal “trigger” line just above

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

The “_____ candle” is the candle in which we actually enter a trade.

A

entry

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Which candle is the one where you enter a trade?

A

entry

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

When we enter a trade it will be in a candle that has not yet ______________.

A

completed (it’s still forming)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

When you enter a trade you will know you are entering a trade that has overwhelming odds in your favor and has been confirmed by __________.

A

indicators

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

There will always be a ______ in the charts of everything that occurs.

A

record

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Check everything out on the Demo that you are learning with play money but treat that play money like it was real _______.

A

money

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

The chart, the candles, the price movement, and everything on the DEMO is exactly the same as in ___________.

A

live trading

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Your fears, your actions, your decisions, and your trading discipline will change when you realize that your _______ is at stake.

A

money

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

_______ requires quick decisions and quick analysis of the charts behavior.

A

Trading

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

If you can’t consistently make money on a demo account, can you with a real account?

A

no

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

How many hours of study and practice will it take to learn how to trade?

A

thousands

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Once you see that there is not going to be a trade setup as it looked like there was going to be, you will continue your ____ of the other charts until you come to another possibility.

A

scan

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

How many trades at a time should you take?

A

one

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

If you scan all six 5-minute timeframe charts, every 5 minutes, you will not miss any trades. True or false?

A

true

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

We know there are lots of good trading opportunities to find. What is it that we don’t know?

A

how big a given trade will be

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

After you learn the first trade, it will be harder to learn additional trades. True or false

A

false

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

True or false: trading larger timeframes is easier

A

false

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

I firmly believe the ___________ time frame is superior and much easier and in the end will equal or exceed the profits you can earn from any other trading plan.

A

five minute

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Every signal does not generate a trade that we will take. We only accept the __________.

A

best tuna

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

If a potential trade set up fails to materialize then you will minimize that chart and start scanning all the other charts that I have set up for you. You will wait until you see a chart that shows the promise of a ______ trade setup forming.

A

great

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

What is the name of the first trade we are learning?

A

blow off bottom

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

True or false - For the BLOW OFF BOTTOM TRADES you need to pay very close attention to what constitutes a “signal candle” and the resulting “trigger line” that every “SIGNAL CANDLE” must have put in place.

A

true

28
Q

Is it true that you have to write in your trigger lines by yourself, that the software won’t do it for you?

A

yes

29
Q

What color are signal candles?

A

green

30
Q

Do signal candles have the body in the upper half or lower half of the candle?

A

upper

31
Q

Do you take Blow off Bottom trades if the Bollinger Bands are not flat?

A

no

32
Q

If the Bollinger Bands are flat, do you take Blow off Bottom trades?

A

yes

33
Q

When the Bollinger Bands are flat, can you take a Blow off Bottom trade?

A

yes

34
Q

What color candle to you never buy on?

A

red

35
Q

What is the minimum spread between the upper and lower Bollinger bands, you should accept when entering a Blow of Bottom trade?

A

$80

36
Q

In general it is much better to take trades that are closer to the ________ Bollinger Band.

A

bottom

37
Q

You may have two or three trigger lines before you enter a ________.

A

trade

38
Q

How many Bollinger Band “must conditions “ are there to meet before entering a trade?

A

3

39
Q

Which way must the bottom Bollinger Band be pointing: up, down or flat in order to be okay to enter a trade?

A

flat

40
Q

What are we talking about here…“The best trades will have both lines of this indicator entering the envelop of the buy zone.”

A

Stochastic indicator

41
Q

If the Lower BB does not meet one of the 3 conditions, you should pass on taking this trade even if the price hits the trigger line above the ___________.

A

signal candle

42
Q

The farther from _____ the bottom Bollinger Band is the greater the risk and the lower percentage of success you will have with those trades.

A

flat

43
Q

Please be very selective. Anyone can buy at any time, but what are the risks? You want to take trades that have a vast overwhelming advantage in our favor approaching __%.

A

90

44
Q

Do you need agreement from the 15 minute timeframe in order to open a trade?

A

no

45
Q

What is the T Line?

A

find the answer

46
Q

true or false - Generally the CCI will be confirming a trade but we rely mostly upon the Stochastic Indicator.

A

true

47
Q

When the __________ are strongly against taking a trade we would be very smart to pay attention and delay our entry.

A

indicators

48
Q

The __________ may not always trigger a trade as quick but they definitely insure a smarter trade entry or exit.

A

indicators

49
Q

We do not want to be taking any trade where the indicators are saying a strong ___

A

no!

50
Q

true or false - Indicators will help us to stay in trades longer and resist the temptation to get out of a trade at a whim.

A

true

51
Q

The candle triggering the trade will always be ______ in a Blow Off Buy signal trade.

A

green

52
Q

When you see an enter buy trade, should you place your order quickly or should you doddle and take your time?

A

order quickly

53
Q

Place a stop loss __________ after you enter the trade

A

immediately

54
Q

Place a stop loss __________ after you enter the trade.

A

immediately

55
Q

Place your stop loss one or two ____ below the lowest candle or wick in the _________ area.

A

pips

immediate

56
Q

How many pips below the lowest candle in the immediate area do you set your stop loss?

A

one or two

57
Q

How long should it take to place a stop loss order?

A

less than 30 seconds

58
Q

What is the first profit goal for the Blow off Bottom trade?

A

the middle Bollinger Band

59
Q

Stay in the trade until it reaches this first goal no matter if you see red candles, pullbacks, retracements, etc. The price will not normally go in a straight line to the ______ Bollinger Band but will go in a zig zag saw tooth motions.

A

middle

60
Q

Pullbacks are very normal. Every 2 or 3 candles almost always will have a ________ also called a correction or a retracement.

A

pullback

61
Q

We do not exit at pullbacks because we have a ____ ____ in place below the lowest candle or wick in the immediate area of our trade.

A

stop loss

62
Q

I know that first goal may be the end of this trade but I wait for ____ _______.

A

exit signals

63
Q

What is the most difficult part of trading?

A

exiting a trade

64
Q

What do we do if the price immediatly reverses and begins to pull away from the middle Bollinger Band?

A

exit the trade

65
Q

Can the 15 minute timeframe help us get a better fix on when to exit a Blow off Bottom trade?

A

yes

Mr. DVD Trading (5 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions