TURTLE TRUE/FALSE QUESTIONS

All the statements are to be interpreted in terms of off-floor commodity futures trading.
Furthermore, assume that trend means uptrend, position means a long, and liquidation
means selling. A glossary of some other terms is attached.

1. It is especially relevant when the market is higher than it's been in 4 and 13 weeks.
2. After a big profit, the next trend-following trade is more likely to be a profit.
3. After a long trend, the market requires more consolidation before another trend
starts.
4. The more bullish news you hear, the less likely a market is to break out on the
upside.
5. The more people are going long, the less likely an uptrend is to continue in the
beginning of a trend.
6. The more bullish news you hear and the more people are going long, the less likely
the uptrend will continue after a substantial uptrend.
7. One should favor being long or being short - whichever one is comfortable with.
8. One should trade the same number of contracts in all markets.
9. If one had $100,000 to risk, one ought to risk $25,000 on every trade.
10. On initiation one should know precisely where to liquidate if a loss occurs.
11. Ideally, average profits should be about 3 or 4 times average losses.
12. A trader should be willing to let profits turn into losses.
13. A trader should like to take losses.
14. A very high percentage of trades should be profits.
15. On initiation one should know precisely at what price to liquidate if a profit occurs.
16. You can never go broke taking profits.
17. It helps to have the fundamentals in your favor before you initiate.
18. A gap up is a good place to initiate if an uptrend has started.
19. If you anticipate buy stops in the market, wait until they are finished and buy a little
higher than that.
20. Of 3 types of orders (markets, stop, and resting), market orders cost the least skid.
21. The majority of traders are always wrong.
22. Trading bigger is an overall handicap to one's trading performance.
23. Larger traders can "muscle" markets to their advantage.
24. Buying dips and selling rallies is a bad strategy.
25. Off-floor traders should not spread different delivery months of the same commodity.
26. Off-floor traders should spread different markets of different market groups.
27. Daily strength and weakness is a good guide for liquidating long term positions with
big profits.
28. Volume and open interest are as important as price action.
29. Other's opinions of the market are good to follow.
30. For an off-floor trader, a long-term trade ought to last 3 or 4 weeks or less.
31. Uptrends end when everyone gets bearish.
32. It's important to know what success in trading will do for you later in life.
33. It's easier to trade well than to trade poorly.
34. It's important to know what to do if trading in commodities doesn't succeed.
35. A trader learns more from his losses than his profits.
36. It is not helpful to watch every quote in the markets one trades.
37. It is a bad idea to put on or take off a position all at once.
38. If a day's profit or loss makes a significant difference to your net worth, you're
overtrading.
39. Diversification in commodities is better than always being in 1 or 2 markets.
40. Vacations are important for traders to keep the proper perspective.
41. Undertrading is almost never a problem.
42. The market can be understood better through social psychology than through
economics.
43. All speculators die broke.
44. There are "players" in each market one should not trade against.
45. It's good to follow hunches in trading.
46. It takes money to make money.
47. When you're long, "limit up" is a good place to take a profit.
48. Needing and wanting money are good motivators to good trading.
49. Luck is an ingredient in successful trading over the long run.
50. Ones natural inclinations are good guides to decision making in trading.
51. Taking a big loss should be a difficult decision for traders.
52. The big money in trading is made when one can get long at the lows after a big
downtrend.
53. It's good to average down when buying.
54. Except for commission and brokerage fees, execution "costs" for entering orders are
minimal over the course of a year.
55. It's important to take a profit most of the time.
56. A losing week is an indication of doing something wrong.
57. A losing month is an indication of doing something wrong.
58. It's a good idea to know how much you are ahead or behind during a trading
session.
59. Trading stocks is similar to trading commodities.
60. In a winning streak, total risk should risk dramatically.
61. It's better to be an expert in 1-2 markets rather than try to trade 10 or more markets.
62. Almost all information about a commodity is at least a little useful in helping make
decisions.
63. Trends are not likely to persist.