Who makes the best traders?
- Thread starter jasrlew
- Start date
Quote from bobcathy1:
I think women in general make the best traders.
Much more realistic, methodical and have better discipline than men. Much more flexible in their thinking...... Higher IQs in general too.
In Alexander Elder's book...he says the same thing.
(I don't know about the higher IQ thing though.
)To be successful trader you need a very strong ego drive. The market becomes a personal challenge to be mastered.
If you have that you will survive the initial phase of trial and error and disappointment. It becomes a ego challenge to figure out a profitable method.
Ego drive also ensures that you become an independent trader and develop your own trading method and not depend on advisory services, gurus, chat rooms, message boards and others stock recommendations etc.
Strong ego traders are willing to take responsibility for their actions and not blame market or tools for their failure.
Only if you have strong ego you will survive drawdowns and persist.
Ego drive also ensures that once you are successful you will continue to build on it and improve your method. The ego-driven individual will not be happy until he has mastered profitable trading.
So if there is one single attribute to look for in a trader it is his ego drive and ego strength.
The Ivy League selection procedure tend to pick individuals with strong ego.
ability to tolerate large amount of pain...
most of the emotions in trading is just pain and frustration..
I also think a TYPE T personality is a must..b
you have to comfortable with the risk..
I think most people experience problems in trading because their
risk-preference yo-yo's around after series of win's and loss
most of the emotions in trading is just pain and frustration..
I also think a TYPE T personality is a must..b
you have to comfortable with the risk..
I think most people experience problems in trading because their
risk-preference yo-yo's around after series of win's and loss
You won't trade the same way at a major investment bank or as an individual trader. You can't compare both at all.
- most of individual traders focus on sstocks/indexes an technical analysis. If what you want to do is just hit the bid and take the offer in ES, then an I bank is not the right place.
- in major I banks, technical analysis is generally not well considered. They will take Ivy grads because they will be asked to do things much more complicated than technical analysis: for example, price complex stuctures involving different derivatives products, develop complex pricing models for corporate bonds....
You need knowledge in many fields if you want to make it at as a trader in a major I bank.
http://www.isma.rdg.ac.uk/
- most of individual traders focus on sstocks/indexes an technical analysis. If what you want to do is just hit the bid and take the offer in ES, then an I bank is not the right place.
- in major I banks, technical analysis is generally not well considered. They will take Ivy grads because they will be asked to do things much more complicated than technical analysis: for example, price complex stuctures involving different derivatives products, develop complex pricing models for corporate bonds....
You need knowledge in many fields if you want to make it at as a trader in a major I bank.
http://www.isma.rdg.ac.uk/
I'm not a quant, and I know this is of no help, but assuming one could make a fear/greed graph, the best traders are at the intersection.
Leaving one's ego at the office door each morning is paramount.
Of course, having NO ego will result in never making a dime.
Leaving one's ego at the office door each morning is paramount.
Of course, having NO ego will result in never making a dime.