Van Tharp - What Kind of Trader Are You

[Yuna]

Glad i found this forum. i think it is very good desu!

My profile is that of an Independent Trader.

a little abt myself. i trade E-mini Futures. taking in small profits here and there but not sufficient to make a living yet.
been at trading coming to 2yrs. and have a debt to clear due to early gunslinging trading days.
basically learning by elimination with no mentor. none of my frens are traders...

wanna do it full time for life cos i have no flair for biz & dun like office politics.
trading is intriguing for me cos its one of the most complex subject i come across, esp abt trading psychology.
i'm just happy that my understanding has deepen enuf to achieve some consistency.
i'm hopeful to clear my debts and realise my vision of becoming the globally mobile trader.

You are an Independent Trader!

If the markets interest you, you'll probably work to develop a logical explanation for how they work. This is because you love theoretical ideas and abstract concepts (in fact, much more so than people interactions). This can be great for trading success, if you don't get too theoretical. This type of trader profile suggests that you value knowledge above all else. As a result, you'll be constantly generating new ideas about the market or trying to disprove the ideas that you learn from others...

One of your Trading Strengths

You can quickly determine if a new style of trading or system will fit well with your personality.

One of your Trading Challenges

Your trading could dominate your time and you could become socially isolated, which in turn could upset others, particularly if you have a spouse.

[forsearch]

You are a 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.

[TacTrader]

Here I am...

You are a Detailed Trader!

The Detailed Trader type suggests that you are very quiet and serious. You tend to earn your success by being thorough, methodical, systematic, organized, and dependable. You are also realistic and responsible as long as things make sense for you. You have two of the three qualities that are necessary for trading success (i.e. You make decisions based on logic and analysis and you are decisive, orderly and do things sequentially). Thus, if you are willing to commit yourself, you'll probably be quite successful as a trader. However, you may need some help seeing the big picture that is necessary for trading success...

One of your Trading Strengths

You should have no problems staying with and executing a simple trading system that someone gives you and you feel confident about.

One of your Trading Challenges

You love the details of trading system analysis and development so much but you can often be working on the wrong things. Your efforts can be misguided if you are following the wrong guidelines or advice.

[forsearch]

	Quote:	TacTrader
	Here I am... You are a Detailed Trader! The Detailed Trader type suggests that you are very quiet and serious. You tend to earn your success by being thorough, methodical, systematic, organized, and dependable.

Hey TAC,

How does being in Law Enforcement ( I presume Tactical aka SWAT) impact your trading strategies?

Just curious....

-fs

[TacTrader]

	Quote:	forsearch
	Hey TAC, How does being in Law Enforcement ( I presume Tactical aka SWAT) impact your trading strategies? Just curious.... -fs

Hi FS,

I think the biggest impact is to be regimented. I have a hugely structured work life and have carried that over into trading. I am not a successful trader yet so right now it is hard to break it down any further. My definition of success is to trade full time. Hopefully in the near future I will be able to reflect back and give some more meaningful analysis but for now it is price, price, price....

Hope you had a good trading day!

Tac

[neutral]

According to van Tharp these are the three core qualities that are essential to being a great trader i.e.:
1-you have the ability to see the big picture, new possibilities and
connections between things
2-you make decisions based on logic and analysis
3-you are decisive, orderly and do things sequentially

The only one I miss is dedication.

I wonder what you strategic traders have answered on this question:
I said the definite(I like my stoplosses live)
=
Do you put more value on:
the definite?
the open-ended?
=

[Sledge]

You are an Administrative Trader!

People who fit into this category have several of the qualities that make a good trader. You tend to be practical and realistic, and decisive. You move quickly to implement decisions and these are all good for trading. You love facts and what you think is concrete. You are very good at making sure that things run smoothly. As a result, you tend to be good at organizing projects and people to get things done the most efficient way possible...

One of your Trading Strengths

You should have no problems staying with and executing a simple trading system that someone gives you and you feel confident about.

One of your Trading Challenges

You love the details of trading system analysis and development so much but you can often be working on the wrong things. Your efforts can be misguided if you are following the wrong guidelines or advice.

[forsearch]

	Quote:	TacTrader
	Hi FS, I think the biggest impact is to be regimented. I have a hugely structured work life and have carried that over into trading.

Tac,

Many people with such careers often have to let off steam somehow. For your sake, I'm hoping that trading isn't your release hatch.

-fs

[TacTrader]

	Quote:	forsearch
	Tac, Many people with such careers often have to let off steam somehow. For your sake, I'm hoping that trading isn't your release hatch. -fs

That would be sex.

[Wilson]

I am a detailed trader! ;-)
Thanks for the link!