Character

[ducati998]

Character, has been acknowledged by all, to be THE vital component in the road to ultimate success in the financial markets.

I have not seen,( may be on here somewhere ) a definition of components constituting character, and a priority of importance, if such exists.

So without further ado, my list of components, placed in some loose form of priority.

1...Knowledge & Understanding of the structure and function of financial markets.
2..Disciplined Capacity
3..Patience
4..Courage
5..Logic & Rationality
6..Independance, of thought and action.
7..Preparation
8..Analytical skills
9..Detachment

Probably not a comprehensive list, and much overlap, however, a starting point.
cheers d998

 

[ducati998]

Other characteristics that may be of benefit, or hinderance................

1..Arrogance
2..Humility
3..Adaptability
4..Consistency
5..Conservative........( risk averse )
6..Flamboyant..........( risk seeking )
7..Ridgid
8..Versatility

d998

 

[ducati998]

Add a few more for good measure;

1..Intuitive
2..Experience
3..Intelligence, as measured by qualifications or IQ
4..Intelligence, as measured by life experience
5..Team player
6..Loner
8..Tea Total, fitness, health oriented
9..Party animal, drink, drugs, girls
10..Careful with money generally
11..Spend it as you earn it.
12..Honesty
13..Dishonesty
14..Homosexuality
15..Hetrosexuality

d998

 

[Tuffty]

Can you change your Character? I have noticed a change in the way I think since I started trading. Anyone else experienced this?

 

[sulong]

Perhaps "Promiscuous" and "Discriminating" ought to go on the list?

 

[ducati998]

sulong,

Anything can go on the list, your choice.
The purpose, is to choose someone who you acknowledge as a MASTER TRADER, and systematically break down their CHARACTER into headings, with possibly a weighting for each category.

Then, when satisfied, you rate your characteristics by comparison with your individual example.
What this model will illustrate are the areas that you are strong, weak, non-existant, over emphasising etc.

It then allows you to think, or research a method by which you can improve your trading character......................

Or, you can go sit in darkness for 5yrs, never leaving the room, burn your way through $6M in losses, and existing on takeaways, until you emerge spouting never ending dribble.

cheers d998

 

[sulong]

sulong,

Anything can go on the list, your choice.
The purpose, is to choose someone who you acknowledge as a MASTER TRADER, and systematically break down their CHARACTER into headings, with possibly a weighting for each category.

OK, my mistake.
I assumed the purpose of the thread was to work on your own list for important characteristics.

 

[TheBramble]

I Didn't Need to Think Twice about this list

A Hard 'Edge'
Authority
Awareness
Committed
Concentration
Confident
Cool & Relaxed
Courageous
Decisive
Determined
Effective
Efficient
Flow
Focus
In Charge
Influence
Instinct
Intelligent
Intent
Intuition
Knowledgeable
Perception
Planning & Arranging
Power & Empowered
Presence & Charisma
Proactive
Projection
Purposeful
Simply Take Action
Strength of Character
Successful
Thorough
Thoughtful
Wise

 

[SOCRATES]

You know, I have been puzzling all evening to think of what this thread reminds me of.

Finally it has come to me in a flash.

You know those little games in which there all these tiny ball bearings that you have to tilt about so as to get all the little balls to sit in the holes all at the same time.....just the same. <G>.

 

[RUDEBOY]

This could be quite an interesting thread, Ducatti. Human character or nature is, lets face it, unquantifiable to a certain degree and becomes to generlised upon to say the least, but, rich men from good backgrounds have lost millions and working class men from not so good backgrounds have made millions. So where should we start? Money is the human medium if you like, nowadays anyway, weve evolved a monetary system, where it will go in the future who knows, but it has strong links to success. Before money success was based on abilty to survive, in fact the markets are about survival, survival of the fittest is not just a pun, it is reality woven in to human instinct. This leads us back to youre original thread. Humans, who makes it ...who dont? Personally i blame genetics, but good genes cannot be bought or sold through a broker ( well, not just yet). To become something you are not is harder than trading itself, thats the real f****r of it all. What do you think, Ducs? RB.

 

[RUDEBOY]

Integeraty of a trader, with himself or with other people. To lie is instinct, truth and reason is hard to come by in the world of money. Sometimes its as if this site hates the truth, bearers of truth are villified because it does not suit human nature at times. The subject of truth and lies should be open to universities, it is a phenomena that will never die out with evolution. Lying is part of evolution, humans and all other animals use it to thier discretion. Beware!

 

[RUDEBOY]

ANYWAY! On a more lighter shade of dark, there are many different types of people who make it in trading. There is probably a stereotypicle type we all have in our minds, but forget that, its not so. Naturals, naturals for trading are not from the same litter, if you like, and can be quite the opposite, character wise. Chess, (i think ive mentioned this before), can be taught or learned, but the true mechanics of a good chess players mind are not nurtured, they are just.....well....there. Think about this seriously! How can you train yourself to take on Kasparov? You cant, you are of a natural ability or you aint. Come on Ducatti, give us a bit of support here!

 

[RUDEBOY]

Right, positive points (although what i have said is not negative, just fact), everybody learns to trade! That is also fact! Saying this, character traits will differ from trader to trader, we are all different, no? But, these traits as i have called them will 'kick in' at different 'times', lets call it an in-built self preservation thing, wether it be bad or good for the individual in trading?

 

[ducati998]

RB,

Just a simple compare and contrast exercise.
Decide on whatever criteria that you feel essential to longevity and success in the market, and then research a number of traders whom you feel are successful.

Rate them based on your criteria, see where ( if any ) overlaps occur, and have a third party evaluate yourself to your chosen criteria.

You end up with something that may very well change the way you view trading.
cheers d998

 

[RUDEBOY]

Ducs, it will not change my perspective on traders or humans whatsoever doing this excercise. Maybe we have misunderstood each other here (it happens), but what i have said is bare bones analysis, you seem to be comming across on an individual level. If that is the case, then youre original thread becomes so complicated its probably not for discussion, unless that was the purpose. I dont mean to be point blank here, but what was your original thread meant to clear up? If it was to do with the individual aspects of any given person, then we could give examples all millenia. I just wanted to generlise to start the ball rolling. RB.

 

[ducati998]

K,

Character, an interesting and vital component to longevity and success. Commen-tata has specialised in "hindsight" calls, that is his forte, his area of expertise.

This is however true to form. If you follow any of the P&V threads or analysis, what you are subjected to is endless ................this is what happened....................I have yet to see, and based on my analysis, this is my expectation, and I shall trade it in this manner.

Commen-tata claims allegiance to this philosophy of trading, and is one of two arch proponents of the methodology.

Interesting to note the claimed superiority of the methodology, and the complete absence of any demonstration via a posted trade in anything approaching real time.

But then of course, in the TARDIS, real time has an entirely irrelevant context.

Seriously, I have a purpose built dealing room, which is a separate building in the grounds of my home specaily constructed and all the walls are lined with green baize from the worktop up, as this is a very restful colour to the eye. The walls are lined with thick cork tiles underneath the baize so that it doubles as a pinboard. Inlaid pine ceiling.The lighting is reflected light operated by dimmers. Two skylights with specially constructed anti moth guards to stop insects coming in and the same for the two windows. Controllable louvres additionally to control light. Separate blinds. Double glazed. The unit has its own generator for continuity of electricity in the event of cutoff. Fully insutated walls and cieling and floor.Its own ring main.Breaker circuits. Thermostatic heating and cooling.Three telephone lines. Fax line.Internet .Telephones fitted with scramblers and secrecy buttons. Touch - light bankers's lamps. Eight computers, 22 screens. Electric typwriter.TV. Atomic clocks. Printers decoders and all manner of gadgets. Multiple datafeed capability via satellite.Leather chairs.What can I tell you, the works !

RB,

But it is following exactly it's title.............CHARACTER.
The one characteristic that I rate very highly, is, the ability and inclination to call a trade, and stand behind it.

Right or wrong is immaterial.
With a technical trade, losing trades are expected.
It is the manner in which they are dealt with that is important.
When a person, in this case SOCRATES places himself in the position of a "guru" it is my expectation that some evidence be shown as a point of pride, if nothing else.

Exactly the same can be said of DBP, ..........another P&V proponent.
Has a great deal to say..............can analyse in hindsight, which has value to a point. If you are learning, you must learn from a reference point.................But, at some point going into a real trade requires a position based on your expectation.

CHARACTER................Quality teachers, teach via a number of methods, and by example is one of them.

Cheers d998

 

[SOCRATES]

I will remind you of the story in the Reminiscences of a Stock Operator, when the tipster approached Deacon SV White with a tip that HO Havermeyer was buying sugar. And the Old Grey Fox did not believe the tipster because being an experienced trader he knew what this business is all about, as I say above.

And when questioned the tipster admitted that HO would not allow anyone a crust.

The Deacon then went on to do the work himself to verify the validity of the information, how ?

By testing the market, not once, but twice, until he was satisfied it was the correct thing to do.

Now take a leaf out of his book and do the work and for god's sake stop whinging.

As they say in Special Forces when in a tight corner and the bullets are going zip zip overhead:~

"well if you can't take a joke, you should not have joined should you ? Eh ?".

And all of this is a war for profits so if you cannot do your own stuff, better stay away and not pester all of us.

 

[RUDEBOY]

Ducatti, i dont want to argue with you, far from it. Characters dont teach, and gurus are not self proclaimed, they are proclaimed. What is a guru? Character wise? You tell me! Characters, we certainly have some on here. Insults, child like minds, no brainers, it goes on and on. It doesnt put me off, youve just got to lower yourself and see the funny side! Chat rooms for chat, trading is personal, dont mix them up! RB.

 

[ducati998]

RB,

Ducatti, i dont want to argue with you, far from it. Characters dont teach, and gurus are not self proclaimed, they are proclaimed. What is a guru? Character wise? You tell me! Characters, we certainly have some on here. Insults, child like minds, no brainers, it goes on and on. It doesnt put me off, youve just got to lower yourself and see the funny side! Chat rooms for chat, trading is personal, dont mix them up! RB.

I was referring to the character of the guru.
As to proclaimed or self-proclaimed...........obviously here we are talking self-proclaimed.

Chat rooms for chat, trading is personal.
Yes and no.
We have a situation on T2W, where there are a number of "Private Forums" that give the impression of something other than "chat" being offered. In point of fact, one even advertises a coaching service that requires payment.

The implication is that there is more on offer than just chat.

Commen-tata,

Oh, by the way, Rudeboy, and now ducattti expects to be able to meet me at the T2W xmas party !

You see character. How many times have I been threatened with cannonballs and all manner of ordnance? And, when the opportunity arises, where is SOCRATES........nowhere to be seen

cheers d998

 

[SOCRATES]

Well at this jucture it is very undecided really, could go either way first, but my own gut feeling is that there is more room to go higher at least to 10600 or thereabouts.