Are You Making the Common Mistakes of New Fund Managers?

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Throughout Richard Perona's time dealing with small and new Fund Managers, he has found lots of common mistakes when it comes to trading. This quiz should help you to discover if you are a fund management expert already.

Each question is worth 10 points and your score will be provided once the quiz is completed and you clicked the "Submit" button.

Look through your past trading history and answer the questions truthfully to get a precise answer.

Start now!

Name *

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1. What would be considered a winning strategy? *

10 points

Use Take Profits and Stop Loss in accordance with good risk parameters.

Take 1-2 pip profits, but lose on a 300 pip lose.

Sit on Open Losses till margin call.

2. If a top tier bank prime broker provides 30:1 on the major currency pairs, what should a prime of prime provide to their clients? *

10 points

50: or 100:1

500:1

200:1

If you have back tested your strategy, is it a good idea to go full on your live account? *

10 points

Yes, back testing a DEMO will produce the same results as a LIVE account.

No, test with LIVE on smaller trades, to ensure all is working properly.

4. You have created a good MT4 EA, and you want faster execution and try FIX API. Should you: *

10 points

Get a FIX API For Dummies and try on your own?

Hire a person with no creditials or background in this?

Hire a professional with a NDA, timelines and contract?

5. When in an open trade for a long time and you realize the swap is against you and growing. Who’s fault is this? *

10 points

The Brokers fault for not telling you? (Please keep in mind that this information is on your back office and MT4 platform)

The markets fault for charging swaps?

Your own fault for not knowing the full parameters of the trade?

6. While in a trade, the market spikes. Do you: *

10 points

Call your broker?

Look at the news and events surrounding the currency pairs involved?

Complain on in a Forex chat room?

7. How do you find out if your UK FCA Prime of Prime is a B Book or not? *

10 points

Look at the PoP’s RT27 & RT28 report to see where they send their trades?

Ask the PoP’s sales representative if they are B Book?

Look at the PoP’s marketing on their website?

8. Whats the average fill time for a trade via FIX API? *

10 points

1 second

1 millisecond

Anywhere between 5-200 milliseconds

Consent to communicate - Please let us know if we are allowed to send you emails, including your test results: *

0 points

Yes

Here is what your score means:

80 points:
You are a real expert in your field - Congratulations! Keep up the good work and best of luck in the market!

60-70 points:
Thank you for taking this test! Congratulations, your score looks very good. But in order to be more successful, you could review some finer points. Please feel free to reach out to me to speak about hedge funds and latest market developments (rperona@advancedmarkets.com). I look forward to hearing from you!

50 points or below:
Thank you for taking this test! Unfortunately, your score shows that you have a few gaps in your fund management knowledge. But please don't worry: I will assist you on how the market works and speak with you about the basics of fund managements. Please feel free to reach out to me (rpersona@advancedmarkets.com)! I look forward to hearing from you!

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