A good trader must have a personality that is always honest with himself?

Discussion in 'Psychology' started by OddTrader, Jun 14, 2006.

A good trader must have a personality that is always honest with himself?

Poll closed Jun 24, 2006.
  1. Yes

    40 vote(s)
  2. No

    1 vote(s)
  3. Doesn't matter

    3 vote(s)
  4. Not sure

    2 vote(s)
  1. You're welcome to say why.
  2. ok I'll bite

    The greastest trader in the world.
  3. cause' Wifey tells me so....
  4. 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.
  5. Give me an example of someone who is in denial with trading.
  6. ?
  7. 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.
  8. Ahhh... OK...

    I think what you mention can be said in every aspect of life.
  9. ecritt


    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).
  10. That would be true. But trading probably can produce a quick result much sooner than we thought, imo.
    #10     Jun 15, 2006