A "stress" test originally from the Traders Catalog and Resource Guide in a piece titled, "Killer Stress, Psycho-Drama & War-Zone Markets." Recently at Marketwatch, Paul B. Farrell (link).
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Answer each question "Yes" or "No" and keep track of each:
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Answer each question "Yes" or "No" and keep track of each:
- You've tried more than one new investment strategy this year?
- Feel you're buying and selling funds at the wrong time?
- Rarely open up to anybody for feedback about your losses?
- Subscribe to two or more newsletters, feel overwhelmed?
- Can count on one hand all the good laughs this week?
- Have a lingering resentment about someone or something?
- You love cable news, but need more extra time to trade?
- Rarely break a sweat when exercising the past few weeks?
- Wonder whether you bet too much on recent investments?
- Need more than three caffeine and alcohol drinks a day?
- Feel "something" keeps you from making more money?
- Frequently don't trust your instincts or your strategy?
- You've had a major family or personal loss recently?
- Believe losses are caused by the market manipulators?
- Are you overweight and snack often on comfort food?
- Fear future trades may fail due to a losing streak?
- Diet and sleep are disturbed by worries about money?
- Your retirement portfolio's not growing fast enough?
- No vacation in a year, and lack an active social life?
- Nothing (or everything) interferes with making money?
Now grade yourself. Add up the number of yes answers. If the total of your stressors ("yes" answers) is eight or more, then short-term trading, market timing and shorting are probably too stressful and risky for you at this time.
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