What personality should a winning trader have? Does it even matter?

scarlet jones

Junior member
27 5
Definitely there are certain personality features which will help you to close out profitable deals and get along with trading successfully . A successful trader is patient and disciplined . He knows when to react and when not to . Apart from this he knows the importance of avoid emotions while trading. I also think that there can not be a specified defined list of features that a successful trader must possess. It will just vary from person to person and how calm he keeps himself when he trades. So, whatever helps you to make a better decision is required for a successful trader.
 
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James turtle

Junior member
29 3
Process Oriented
All the winning traders i know of never start their trading with the expectation to start their trading to make a certain amount of money but losing traders do, in the hopes of getting money for the time they put into it. Trading is not a profession where you get hourly income/pay. Successful traders focus on the process, not about the money they will win or lose.
There might be days when you earn good sum in minutes or end up losing after trading for hours. A successful trader is aware of this thing and focus on developing a sound trading strategy and stick to it.
 
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J Livermore

Member
83 23
Guys, I'm wondering, do you think there are any specific personality characteristics that can make you a more successful trader?
Or on the other side of the equation - are there any personality characteristics that should keep you from trading? What do you think?
I just thought of another bad trait which usually is thought of as a good trait outside of trading.

The “never give up” trait.

Investors are taught to hold onto their positions and ride out the wild volatility as long as the fundamentals are improving. This can be deadly to a trader especially if he/she is using leverage.

If you are experiencing a series of losses you need to stop what you are doing and take a good amount of time off to study not only the markets but your own trading techniques and methods. Trading is not an athletic event where you push even harder in the hopes for a come from behind victory. The harder you try to come back from a series of losing trades the bigger the possibility that you may be just as bad or even worse.

The same goes for holding onto winning positions too long. This is sometimes a problem for me. Sooner or later all stocks stop rising, whether it be months or years. Eventually the top will come. By not throwing in the towel when the time to get out of a successful trade comes, you may give up a large piece of your winnings as it starts to come back down. The only way to successfully sell market tops is by pure luck alone.

Never give up on yourself, but there are many and frequent times when you need to give up on a stock position or the market as a whole.
 

Exscudo

Member
60 15
I just thought of another bad trait which usually is thought of as a good trait outside of trading.

The “never give up” trait.

Investors are taught to hold onto their positions and ride out the wild volatility as long as the fundamentals are improving. This can be deadly to a trader especially if he/she is using leverage.

If you are experiencing a series of losses you need to stop what you are doing and take a good amount of time off to study not only the markets but your own trading techniques and methods. Trading is not an athletic event where you push even harder in the hopes for a come from behind victory. The harder you try to come back from a series of losing trades the bigger the possibility that you may be just as bad or even worse.

The same goes for holding onto winning positions too long. This is sometimes a problem for me. Sooner or later all stocks stop rising, whether it be months or years. Eventually the top will come. By not throwing in the towel when the time to get out of a successful trade comes, you may give up a large piece of your winnings as it starts to come back down. The only way to successfully sell market tops is by pure luck alone.

Never give up on yourself, but there are many and frequent times when you need to give up on a stock position or the market as a whole.
Honestly, this is not even a good thing in real life. Or, at least is not understood correctly in my opinion.
Just as an example, I was riding a mountain bike the other day, just learning the very basics and I didn't feel very focused that day. I didn't give up and still went for a hard element. Ended up in a hospital with a broken arm.

After it healed I still went back for it but now I am much more careful to stop in time. Sometimes it is very important to take a break and reevaluate the situation, the important thing is to come back later and keep at it if its something that is really important for you.
 

Exscudo

Member
60 15
Process Oriented
All the winning traders i know of never start their trading with the expectation to start their trading to make a certain amount of money but losing traders do, in the hopes of getting money for the time they put into it. Trading is not a profession where you get hourly income/pay. Successful traders focus on the process, not about the money they will win or lose.
There might be days when you earn good sum in minutes or end up losing after trading for hours. A successful trader is aware of this thing and focus on developing a sound trading strategy and stick to it.
Thank you, this is actually the most sound approach to trading in my mind as well.
 
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fibo_trader

Legendary member
5,954 90
Guys, I'm wondering, do you think there are any specific personality characteristics that can make you a more successful trader?
Or on the other side of the equation - are there any personality characteristics that should keep you from trading? What do you think?





The dragonfly's personality characteristics will give you a 95% successful trades hit consistently - this is the domain of Fibo.

---------------------------------------------------------


Fibo's deadly record is down to an array of adaptations including complex eyes specialized to detect black spots against the sky. His wings are also powered by individual muscles that work together for amazing acceleration and agility.

However, it’s Fibo's brain that holds the secret to this remarkable success rate. “His brain uses a highly optimized hunting strategy that allows him to predict where the prey is going (1) and the appropriate muscle commands to intercept it (2)

(1) is taboo for Trend followers but a birthright of Fibo

(2) 4 sets of muscles that Fibo uses to intercept with precision. There is a 5th muscle - its called History. Fibo uses this a rudder.

Most importantly, he is exposed to very small risk of collision and therefore injury due to a categorically well designed and well thought out StopLoss that he launches 2 seconds before flight to the kill.


Therefore he bests the Peregrine Falcon with stunning ease and verve


 

fibo_trader

Legendary member
5,954 90
The dragonfly's personality characteristics will give you a 95% successful trades hit consistently - this is the domain of Fibo.

---------------------------------------------------------


Fibo's deadly record is down to an array of adaptations including complex eyes specialized to detect black spots against the sky. His wings are also powered by individual muscles that work together for amazing acceleration and agility.

However, it’s Fibo's brain that holds the secret to this remarkable success rate. “His brain uses a highly optimized hunting strategy that allows him to predict where the prey is going (1) and the appropriate muscle commands to intercept it (2)

(1) is taboo for Trend followers but a birthright of Fibo

(2) 4 sets of muscles that Fibo uses to intercept with precision. There is a 5th muscle - its called History. Fibo uses this a rudder.

Most importantly, he is exposed to very small risk of collision and therefore injury due to a categorically well designed and well thought out StopLoss that he launches 2 seconds before flight to the kill.


Therefore he bests the Peregrine Falcon with stunning ease and verve





My apologies for not including the title of the personality of a winning trader: It is actually an Axiom, a Fibo Axiom

Fibo's Law: applies to all Life but here especially to forums

Be who you are and say what you feel, because those who mind don't matter and those who matter don't mind

(last sentence should be read a few times as most might not get it the first time, esp. those whose native lingo is not Inglit)

:);) :whistle:
 

fibo_trader

Legendary member
5,954 90
A winning trading personality suffers greatly in a group. Fibo dispensed with the liability of trading within the confines of a group of traders as for example in a Financial Outfit etc., or even a private group for this one reason

African wild dogs hunt as a pack and have a very high kill success ratio of 85% but most of it is given back to larger predators like lions, hyenas and leopards leaving a net success ratio of only 58%. Too low for Fibo and too much time involvement and way too much babysitting and handling personal psychological problems of members.

Lions, tigers, leopards and the like are very low success ratio as to not be considered to incorporate their techniques into an automatic karate style mode of attack in the markets.
 

Exscudo

Member
60 15
too much time involvement and way too much babysitting and handling personal psychological problems of members.
I doubt that african wild dogs spend a lot of time handling personal psychological problems of members, but otherwise this is something new for me, thank you for giving so much information :)
 

Daniel Jones

Junior member
17 1
Confidence, discipline, patience and that zeal to master trading. Must have to be a winner trader.
 

fibo_trader

Legendary member
5,954 90
I doubt that african wild dogs spend a lot of time handling personal psychological problems of members, but otherwise this is something new for me, thank you for giving so much information :)

Are you for real, Herr UbergangMaestro :)

Wild dogs and any such group operates on the strength of the pack for longevity and success. Look at the way they groom each other, play and rest together, eat together, when one is down, the others pull his weight, they defend each other ................ handling each others' problems is an integral element to stay strong as a team to SURVIVE. There is other stuff you have not even cottoned on to, namely the hierarchy - get into this and it will open yet another chapter into the psychology of the wild dog pack.

 

J Livermore

Member
83 23
Guys, I'm wondering, do you think there are any specific personality characteristics that can make you a more successful trader?
Or on the other side of the equation - are there any personality characteristics that should keep you from trading? What do you think?
Hi Exscudo,

I thought I’d share another personality trait which recently came to mind:

Forgiving type of personality.

I realized this on my own when I was in an options crowd on the floor of a stock exchange. Then a few months later, a trader from another crowd who I was friends with was telling me roughly the same thing. He said something to the effect of: “In this type of business, you must have a forgiving personality”.

However, that does not mean you let people walk all over you. If you have to, you have your exchange of words, go your separate ways then not deal with that person again.

From what little I know about psychology, I would guess a forgiving personality helps because in trading, the person you have to forgive the most is yourself. Especially after losing trades. A lot of people can have difficulty forgiving themselves. Not only in trading but in life too.

Think of yourself as a hockey goalie. Goalies in sports are among the types of people most in need of self-forgiveness because the next time a puck comes flying at you, you had better have a clear mind and the fortitude it takes to succeed. It’s not much different than trading in my opinion.
 

fibo_trader

Legendary member
5,954 90
Hi Exscudo,

I thought I’d share another personality trait which recently came to mind:

Forgiving type of personality.

I realized this on my own when I was in an options crowd on the floor of a stock exchange. Then a few months later, a trader from another crowd who I was friends with was telling me roughly the same thing. He said something to the effect of: “In this type of business, you must have a forgiving personality”.

However, that does not mean you let people walk all over you. If you have to, you have your exchange of words, go your separate ways then not deal with that person again.

From what little I know about psychology, I would guess a forgiving personality helps because in trading, the person you have to forgive the most is yourself. Especially after losing trades. A lot of people can have difficulty forgiving themselves. Not only in trading but in life too.

Think of yourself as a hockey goalie. Goalies in sports are among the types of people most in need of self-forgiveness because the next time a puck comes flying at you, you had better have a clear mind and the fortitude it takes to succeed. It’s not much different than trading in my opinion.


(y)(y)(y)
 

NVP

Legendary member
37,392 1,948
sorry - im so busy chasing the hunting dogs ....eagles ...falcons...lions ....cheaters....... and all the other wildlife on this thread.... ive forgotten the question ? ....:)
 

fibo_trader

Legendary member
5,954 90
sorry - im so busy chasing the hunting dogs ....eagles ...falcons...lions ....cheaters....... and all the other wildlife on this thread.... ive forgotten the question ? ....:)

The question was, "what type of very young fella will grow up to be an outstanding trader?"



Answer:

So Little Fibo's teacher is warned at the beginning of the school year not to ever make a bet with Fibo unless she is absolutely sure she will win it. One day in class, Fibo raises his hand and says "teacher, I'll bet you $50 I can guess what color your underwear is." She replies, "okay, meet me after class and we'll settle it." But before class ends, she goes to the restroom and removes her panties. After class is over and the students clear out, Fibo makes his guess. "Blue." "Nope. You got it wrong," she says as she lifts her skirt to reveal she isn't wearing any underwear.

"Well come with me out to my dads car, he's waiting for me, and I'll get you the money." She follows him out. When they get to the car she informs his dad that he got the bet wrong and that she showed Johnny that she wasn't wearing any underwear. His dad exclaims: "That mother f**ker! He bet me $100 this morning that he'd see your p**sy before the end of the day!"
 
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