For the more experienced guys out there, do you have any observations about how a person's personality can lead to him choosing a particular approach to trading? Maybe you have noticed personality traits common to scalpers, systems traders, swing traders etc?
Trader Personality vs Style
- Thread starter countercountertrend
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Trading is like sports, video games, casino games, women, sports cars, pets, hobbies, etc...every guy has their personal preference, that suits them best.
There is no one style/strategy/instrument that's necessarily automatically better than the other.
There is no one style/strategy/instrument that's necessarily automatically better than the other.
This is partly the reason so many who attempt this profession fail.
You are given an empty book; unlimited choice of creation. Most people are overwhelmed by such a beginning, as in life we are normally limited to certain sets and rules.
The trick is in self limitation, defining the size and shape of your canvas.
You are given an empty book; unlimited choice of creation. Most people are overwhelmed by such a beginning, as in life we are normally limited to certain sets and rules.
The trick is in self limitation, defining the size and shape of your canvas.
Imho, as many occupations trading is a self-selecting one, which means that the occupation determine the personality traits necessary for success, and only those who poses them (or able to develop them which is very rare) may survive and succeed.
I do not believe in choosing the approach to trading, instead the "approach" chooses you
Of course everybody may have something in mind at the beginning, but reality very soon will determine what is what and for how much , and you either can live with it (and adjust accordingly) or you die (as a wannabe trader) ...
I do not believe in choosing the approach to trading, instead the "approach" chooses you
Of course everybody may have something in mind at the beginning, but reality very soon will determine what is what and for how much
, and you either can live with it (and adjust accordingly) or you die (as a wannabe trader) ...
You can consider my case. I'm an INTJ personality http://www.humanmetrics.com/personality/intj (you know, to have some references and take it beyond pointless chatting). I've spent an inordinate amount of time and energy to understanding the market and price movement. I play EURUSD 400:1 discretionary; I do recognize a number of elements of price movement including chart patterns, SR levels, wave structure, plays setting up and countering relatively known TA methods as well as a few other elements. The quest for perfection is a powerful force
Many times I see an easy play (the object of desire of many and probably enough to make a living out of by itself) and don't take it because I've a position opposite based on s.thing else, or limited move. Needless to say it's demanding work live. I'm attempting to employ a fluid approach of ins and outs with occasional large positions on. I'm probably over ambitious and should settle for s.thing simple that I can more easily put in practice. ...I'll take that into consideration. Thank Me.I disagree, let's say you have back tested two methods, "A" system makes the greatest amount of money but has up to 90% drawdown, "B" makes less profits but drawdown in minimal and new equity highs each quarter. Someone who has an aggressive personality will choose "A" and someone layed back will choose "B". As you become older and become more risk adverse in your personality you might switch from "A" to "B".