Traders World Online Expo #18
Nov - Dec 2016

 
                                                                                                                         

 

 

Know Thyself: Take the Trader Personality Test

 

 

Dr. Kenneth Reid

 

Once upon a time, active trading (daytrading and swing trading) was the province of professionals who gathered in large rooms in Chicago and New York waving their hands and shouting orders at each other. You still see these folks milling about behind Rick Santelli when he appears on CNBC.
 

 

Clearly, pit traders represent a personality-type that is quite different from screen traders who sit quietly in the comfort of our home-offices, with the warm coffee cup and the cat asleep on the trading desk. Do you think these two types of individuals will be comfortable trading the same method? Hardly.  

 

Matching your method to your personality is more difficult that it appears, however, because there is no consensus about trader typology. Some of the key differences I have found between trader types correspond to variations in risk tolerance, which may be genetically pre-determined, and to left/right hemispheric dominance (also probably genetic).
 

 

Bottomline: Your trading method should match your Trader Personality Type. When you recognize your Type, you can make simple adjustments in your methods to avoid inadvertent self-sabotage.
 

 

Don't miss the opportunity to take the free Trader Personality Test during my presentation at the Traders World Online Expo on Tuesday Feb. 28 (12 noon ET).
 

 

Kenneth Reid, Ph.D. 

daytradingpsychology.com  

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