Emotional traits of the best traders

Discussion in 'Psychology' started by PeterEastgate, Jun 10, 2009.

  1. The best traders do not let anyone or anything bother them. They are never disturbed and, in fact, are generally happy about life and living. No one ever offends their nature or sense of being.

    They never discuss or display their passion about trading or the markets. They never talk about what they do or how they do it. Discussion or emotional displays simply clouds their thinking and such talk is best not performed.

    If the best traders are happy-go lucky, non-offendable and free of emotions, then I have concluded there are not too many great traders on this board to include the moderators.
  2. punter


    people in general aren't thaat happy, so thats rare itself. i've met a few amazing traders, and the only thing i can say thats positive about the best of them is everything is left at the office. other then that, they're all raving lunatics in the office.
  3. Did you just pull that out of a hat?
  4. academic


    Didn't Jesse Livermore commit suicide?

    Then there was Rene Rivkin, who hung himself.
  5. dont think just do it - KNOW thats its not money. you can only make money when you dont need it... so get to where you dont need it and it will chase you down and make you spend it. help!

  6. Check your references academic
  7. academic


  8. Redneck



    Trait 1 –

    Never gets too happy or sad over a loss or win… Learns from both, modifies trading behavior accordingly, then moves on… Never dwells on either

    Trait 2 –

    Enters every trade scared/ cautious (and I don’t mean frightened)…

    What I mean by scared/ cautious is; … Knows each trade could be a looser… knows exactly where to exit if/ when a trade fails, and constantly ready to exit if it fails (hits the exit price) without hesitation or reservation

    Trait 3 –

    Begins every trading day neutral – harbors neither a long or short bias

    Trait 4 -

    Humility, tempered with self assuredness – Market is the boss, and in charge – always… but we must have the confidence to trade the way we know how


    Knowing these traits “consciously” … and having them completely engrained / assimilated into your “subconscious”… are two completely different things.

    I believe a trader always should to be thinking about the trade… not how to “act/ be” while trading

    These are just my opinions – each trader’s mileage may very

  9. Podimer


    whilst a calm mind is more likely to see the trading environment with a more clear objectivity and equanimity with what the market is giving you in the NOW is valuable, i don't think happiness is a necessary trait for the best traders.

    check out this article...who knows about its validity but i like it as i am a #2, which is better than #3, so :D

  10. One trader that I follow and admire, Peter Costa on CNBC, displays great patience and fortitude no matter what the tape may be painting. This morning he made a great call and it was amazing. After that call, he wasn't celebrating, but simply grinning and working his job.

    Another great trader that I follow, Todd Harrison (met him on Thursday at Minyanvilles mixer at Red Lyon in NYC) seems to be an exceptionally kind and non-emotional individual. He did not look like he just came from behind the turrets.

    Too much stress and burn on ET. I dont know how you guys do it.
    #10     Jun 10, 2009