Quote from Wallace:
Van K Tharp's new free test:
http://www.tharptradertest.com/default.aspx?question=1
think 'Novice'/'Pro' is just Tharp's differention, I tried both and the
result was the same
once you've done the test and read about your Type and your
'Trading Strengths/Challenges', you can also read the about the
other 12 Types
Tharp's Type categories are different and in context objective and
I found thought provoking, useful and new information providing
me perspectives I hadn't previously appreciated
Interesting stuff - here's my results.
--------------------------------------------------
Strategic Trader
You probably live in a world of ideas and strategic planning. This is because you value intelligence, knowledge, and being competent. These are great qualities for a trader/investor. In fact, you have the three core qualities that are essential to being a great trader (i.e. you have the ability to see the big picture, new possibilities and connections between things. You make decisions based on logic and analysis and you are decisive, orderly and do things sequentially). You have an original mind and a great drive to implement your ideas and achieve your goals. Thus, if trading success is important to you, you'll probably find a way to achieve it.
You are quick to see patterns in the market and develop a perspective that allows you to take advantage of it. Consequently, we recommend that you study what great traders typically do because, if you do, you'll probably become one of them.
You are an avid learner and thinker therefore understanding trading and trading systems will probably be something that is quite easy for you to grasp. You easily understand abstract and complex theories and can be a master of conceptual and analytical thinking.
If you become committed to trading success, you'll probably have no problem developing a business plan to help you succeed as a trader. In addition, you tend to be independent, which is an essential quality of traders, and have high standards for your performance as a trader.
As a trader, you'll probably focus on observing the markets and generating ideas and possibilities for generating profits. This is one of the primary reasons that, if you commit to it, you have the potential to be an excellent trader/investor. In addition, since you have all of the primary qualities that most of the top traders have, if you apply yourself, then your chances of success are very high.
Trading Strengths
1. Originality and drive; willingness to follow your ideas through to completion.
2. Quickly see patterns and possibilities, with the ability to rapidly hypothesize and generate low risk trading ideas.
3. You could probably generate a trading business plan and trading systems quite easily and naturally.
4. Able to understand and trade in both short and long term positions.
5. You strive to be the best and only want to associate with the best.
Trading Challenges
1. Probably so logical that you don't recognize when emotions are causing you to self-destruct.
2. You have a strong desire to be right, even to the extent of perfectionism. This might cause you to never actually trade because you're continually trying to develop or buy better systems.
3. You may be susceptible to the loss trap. Therefore you may not honor your stops because you want to be right about your trades.
-------------------------------------------------
Our best example of a strategic trader is Paul Tudor Jones. Jones has been one of the world's best hedge fund managers. And when the funds he had under management surpassed a billion dollars, he hired a coach to really teach him what we now call "top-down discipline." Today he lives by an unbelievable routine and schedule because he simply must be the best. He's never had a down year. His worst performance was in 2000, when offshore Tudor BVI Global Portfolio fund delivered 11.6%. According to Forbes, Paul Tudor Jones ranks 113 among the world's richest men.
Paul Tudor Jones is known for saying, "I'm always thinking about losing money as opposed to making money. Don't focus on making money, focus on protecting what you have"
