A test- "Are you cut out for this"

Discussion in 'Trading' started by LouiseJefferson, Jul 24, 2002.

  1. If you scored low <35, remember this was a test to determine your natural propensity to trade profitably. PROPENSITY is the key word here. Learning to trade is about understanding your own strengths and shortcomings. You can, without a little work alter the behavior patterns that are causing you to lose, as long as you fully understand them.

    If you scored between 35-75, you probably posses some of the personality traits that make for a profitable trader, strong sense of Self, good discipline, logic, skeptical cautious nature.

    >75 You might as well mortgage the house and max out the credit cards to give yourself some leverage! There's no doubt..you are going to be profitable. You were born to trade!


    Question #1- Most highly successful traders exhibit characteristics of extreme selfishness. Trading is all about SELF PRESERVATION. Your ability to get from getting hurt.. consistently, day after day. The reason the question was phrased "several past or present".... is that truly selfish people don't realize they are selfish. If you THINK you might be selfish, you probably aren’t.

    Question #2 Obviously, this question address the discipline aspect of trading

    Question #3 Self destructive behavior patterns can be dangerous. If you can't keep yourself from driving while intoxicated you probably won't be able to walk away from your computer when you are getting slaughtered in the market.

    Question #4 This again addresses aspects of self-preservation and Ego-defense components to one's personality. People with a strong Ego-defense mechanism would never put themselves in a situation that would allow for them to be dumped. If they were in fact dumped, they will convince THEMSELVES otherwise.

    Question #5 Any Obsessive-Compulsive behavior is undesirable in a trading environment

    Question #6 Ladies, I think this one is more applicable to you. As females we are genetically programmed to BUY, BUY, BUY when something goes on sale. This can be a problem while trading, as you will be constantly fighting the urge to load up on CSCO when it goes on sale from $70 to $20. You will have a hard time lifting offers when the market is going up and hitting bids when it is going down. Your natural inclination will be to bid BELOW the bid and OFFER above the offer.

    Question #7 Obssesive -Compulsive=Undesireable

    Question #8 - As a perfectionist you will burn out quickly. Even after a good day, you will beat yourself up for NOT buying the LOW or selling the HIGH.

    Question #9 This one is pretty obvious and I think the single most important factor in trading. Can you come back when you are down? When you are getting your A$$ kicked, whats your reaction? Are you more focused?

    Question #10 If you chose A, you will not have any longevity as a trader. Profits and emotional stablity should be NOT be tied to one another.
     
    #21     Jul 25, 2002
  2. TGregg

    TGregg

    I would disagree with that statement indicating success as a trader. If you cannot see the market for what it is, but can only see what you want, you're toast.

    And, I would add this score to the evaluation:

    90 and above: Forget it, you can't add right :D
     
    #22     Jul 25, 2002
  3. 75, let the $ start flowing in...!!!
     
    #23     Jul 25, 2002
  4. Selfish people lie to themselves! It's an ego-defense mechanism. They perceive the world in a way that protects their own ego.

    Let me give you an example......This is a post regarding Chasinfla, who is obviously female and is no doubt one of the most knowledgeable and intelligent Elite Traders.

    This is a classic ego-defense mechanism. The idea that Chasinfla is both smart and beautiful is too intimidating for Peter77's ego to handle. Therefore, he convinces himself that she must look like Dr. Ruth.
     
    #24     Jul 25, 2002
  5. She/He's certainly one of the most prolific posters...but "knowledgeable and intelligent"...gimme a break!
     
    #25     Jul 25, 2002
  6. Maybe that wasn't such a great analogy...I am fairly new to the ET board. Knowledgeable was my initial impression.
     
    #26     Jul 25, 2002
  7. Just a minute here...

    There was 17 questions, not 10. How can we score ourselves if
    we are not including the other 7? I now delcare this test incomplete and void...

    :D
     
    #27     Jul 25, 2002
  8. Would you answer the question once and for all, Are you a Dr. Ruth Lookalike?
     
    #28     Jul 25, 2002
  9. Dear, The scoring key has the answers to all 17 questions I just havent had the time during market hours to post the explanations to the final seven answers. You don't need these to score yourself. A perfect score is a 92
     
    #29     Jul 25, 2002
  10. When I was on the floor of the CBOT , some of the great traders and I got really smashed every Friday after the close. I don't plan on taking this test too seriously knowing this.



    Robert
     
    #30     Jul 25, 2002