Discussion in 'Psychology' started by OddTrader, Jun 14, 2006.
You're welcome to say why.
ok I'll bite
The greastest trader in the world.
cause' Wifey tells me so....
A good trader makes money.
It doesn't matter if he lies his ass off and he lies to himself constantly. If he consistency makes money, that is all that matters.
But I did pick yes, just because I am truthfull to myself and others.
Give me an example of someone who is in denial with trading.
If a trader's ego often prevents admitting wrong trades, he'll probably go broke one day!
A trader keeps trading a system with hidden risks that he knows will make him broke due to his own mistakes one day.
A trader knows he should have quitted a losing trade by now, but he still holds on.
I think what you mention can be said in every aspect of life.
Depends upon the type of trader. A corporate trader who's job it is to maximize his/her arithmetic mean must posess strong denial skills or blessed ignorance; either way the job's goals are a deterant to honesty.
A trader that is trying to maximize his/her terminal wealth relative will do better to have a personality that is conducive to self honesty (realistic expectations).
That would be true. But trading probably can produce a quick result much sooner than we thought, imo.
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