Emotional traits of the best traders

[PeterEastgate]

The best traders do not let anyone or anything bother them. They are never disturbed and, in fact, are generally happy about life and living. No one ever offends their nature or sense of being.

They never discuss or display their passion about trading or the markets. They never talk about what they do or how they do it. Discussion or emotional displays simply clouds their thinking and such talk is best not performed.

If the best traders are happy-go lucky, non-offendable and free of emotions, then I have concluded there are not too many great traders on this board to include the moderators.

 

[punter]

people in general aren't thaat happy, so thats rare itself. i've met a few amazing traders, and the only thing i can say thats positive about the best of them is everything is left at the office. other then that, they're all raving lunatics in the office.

 

[Thunderdog]

Quote from PeterEastgate:

The best traders do not let anyone or anything bother them. They are never disturbed...No one ever offends their nature or sense of being.

...Discussion or emotional displays simply clouds their thinking and such talk is best not performed.

...the best traders are happy-go lucky, non-offendable and free of emotions...

Did you just pull that out of a hat?

 

[academic]

Didn't Jesse Livermore commit suicide?

Then there was Rene Rivkin, who hung himself.

 

[MarkBrown]

dont think just do it - KNOW thats its not money. you can only make money when you dont need it... so get to where you dont need it and it will chase you down and make you spend it. help!

 

[BoyBrutus]

Quote from academic:



Then there was Rene Rivkin, who hung himself.

Check your references academic

 

[academic]

Correction, Rene Rivkin didn't hang himself.

http://www.smh.com.au/news/Business/Sad-end-for-Rene-Rivkin/2005/05/01/1114886255223.html

 

[Redneck]

IMHO & FWIW

Trait 1 –

Never gets too happy or sad over a loss or win… Learns from both, modifies trading behavior accordingly, then moves on… Never dwells on either

Trait 2 –

Enters every trade scared/ cautious (and I don’t mean frightened)…

What I mean by scared/ cautious is; … Knows each trade could be a looser… knows exactly where to exit if/ when a trade fails, and constantly ready to exit if it fails (hits the exit price) without hesitation or reservation

Trait 3 –

Begins every trading day neutral – harbors neither a long or short bias


Trait 4 -

Humility, tempered with self assuredness – Market is the boss, and in charge – always… but we must have the confidence to trade the way we know how


Aside

Knowing these traits “consciously” … and having them completely engrained / assimilated into your “subconscious”… are two completely different things.


I believe a trader always should to be thinking about the trade… not how to “act/ be” while trading

These are just my opinions – each trader’s mileage may very


RN

 

[Podimer]

whilst a calm mind is more likely to see the trading environment with a more clear objectivity and equanimity with what the market is giving you in the NOW is valuable, i don't think happiness is a necessary trait for the best traders.

check out this article...who knows about its validity but i like it as i am a #2, which is better than #3, so

http://traderfeed.blogspot.com/2007/01/personality-of-trader-how-it-affects.html

 

[PeterEastgate]

One trader that I follow and admire, Peter Costa on CNBC, displays great patience and fortitude no matter what the tape may be painting. This morning he made a great call and it was amazing. After that call, he wasn't celebrating, but simply grinning and working his job.

Another great trader that I follow, Todd Harrison (met him on Thursday at Minyanvilles mixer at Red Lyon in NYC) seems to be an exceptionally kind and non-emotional individual. He did not look like he just came from behind the turrets.

Too much stress and burn on ET. I dont know how you guys do it.