A good trader must have a personality that is always honest with himself?
- Thread starter OddTrader
- Start date
ok I'll bite
The greastest trader in the world.
ElectricSavant
The greastest trader in the world.
ElectricSavant
cause' Wifey tells me so....
A good trader makes money.
It doesn't matter if he lies his ass off and he lies to himself constantly. If he consistency makes money, that is all that matters.
But I did pick yes, just because I am truthfull to myself and others.
It doesn't matter if he lies his ass off and he lies to himself constantly. If he consistency makes money, that is all that matters.
But I did pick yes, just because I am truthfull to myself and others.
Give me an example of someone who is in denial with trading.
If a trader's ego often prevents admitting wrong trades, he'll probably go broke one day!
Or
A trader keeps trading a system with hidden risks that he knows will make him broke due to his own mistakes one day.
Or
A trader knows he should have quitted a losing trade by now, but he still holds on.
Ahhh... OK...
I think what you mention can be said in every aspect of life.
Depends upon the type of trader. A corporate trader who's job it is to maximize his/her arithmetic mean must posess strong denial skills or blessed ignorance; either way the job's goals are a deterant to honesty.
A trader that is trying to maximize his/her terminal wealth relative will do better to have a personality that is conducive to self honesty (realistic expectations).
A trader that is trying to maximize his/her terminal wealth relative will do better to have a personality that is conducive to self honesty (realistic expectations).