Types of traders here..... where do you stand??? Dare to find out?

Discussion in 'Psychology' started by lilduckling, Jul 6, 2008.

  1. A revealing observation of these posts made through Freudian eyes has now revealed the types of people we have in this board.

    Just as Kinsey categorized different types of sexual practices and the percentage of the people who participated in his survey, I too, your pin feathered CNA, now bring you these enlightening results of the kind of traders we have here.

    They are categorized into 5 groups in the following:
    Group E … 25%
    Group D… 50%
    Group C… 20%
    Group B… 4%
    Group A… 1%

    Group E are not actually traders per say. They have long ago stopped trading, or blew out their accounts completely, but still come here and post on a regular basis. Why? Why have an exchange of ideas if it wont be put into practice? Its quite simply really, these are lonely individuals that society as left behind. Most are elderly, live by themselves, and get little or no visitors. Their kids wont even stop by anymore. They may have a cat, but a cat can not talk back. They yearn for company. But they are not spiteful. They have accepted their fate. Some even found happiness that came from the lack of daily stress from the markets. So they happily post, and sprinkle a dash of trading strategy in their outreach for verbal warmth. It matters not that the ideas or strategies don’t work now, or didn’t work since the SEC was enacted. This is their last bastion of interaction.

    Group D is the largest group and have the most consistency in their trading. The consistency to lose money. They couldn’t pick up a dollar bill and put it in their pocket without losing it. This is also the most fearful lot, for they know the most likely next step they will fall into is group E. Odds are against them in moving up to Group C. With an nervous twitch and a smile, they consider themselves traders never the less. This group is the most susceptible to being bitten by snake oil salesmen, trading fads, and be mesmerized by the internet gurus. They have the largest collection of trading books, cd’s and dvds. They will cling on to their precious tapes and cds as if it had value, a price, displayed in their bookshelves. Like salmon swimming upstream to spawn and getting caught in the jaws of death, so too do these traders in their ill prepared mad quest to be in group A, wanting to bypass groups C and B altogether.

    Group C the people in this group are at the fork in the road. The few that find themselves here are not making money, but for the most part are no longer losing money either. This group is both the child and parent, mentally speaking. They offer help to people in group D, and may accept help from the groups above them. These traders are no longer susceptible to the snake oil salesman and may have begun disputing the worthiness of established norms in the trading world. They may still seek council in the internet guru or even become a follower, but at a much lower percentage than the people in group D. These traders have sold their used cds and dvds to group D at an almost giveaway price. They are also beginning to cancel any monthly subscription service they are losing confidence in. The traders here may have entered the markets at a prime time, and will slip to group D when the waters get choppy. The rare few that arrived in choppy waters and survived may eventually go up to group B. The posters in this group know how hard it is to trade, and know they have to be in group B before moving on to A.

    Group B this is the very rare few that arrive at this group. The people in this group are legitimate traders, and report their occupation as such to the IRS. They are making money, mostly as supplemental income with the spouse also having to work, but on rare instances, may be the sole bread winner. Traders in this group have long since stopped falling for any market scam or guru. These are the alpha males. Although modest here, outside the trading community at social gatherings they will make sure that others know what they do for a living. These traders also delight in explaining to friends and neighbors that they make their living behind a computer, extracting money from the markets. These traders may offer guidance to traders on groups C and D, but they do not reveal their exact edge or methods. They speak in general terms, with a slight aura of fog thrown in. They leave it up to the lesser traders to decode it. It was a long and hard journey, they will not just give it away. Traders in this group are unique in a certain way. The most talented few may one day excel to group A, but the rest may slip back into group C. However, they don’t necessarily remain there. A fair percentage may pull themselves back up to group B. If however they failed to adept and are unable to get themselves back up, they become what is known as an internet guru. They will have their own web site and may even have a nightly newsletter or trading room. The People in group D just love to give these people their money. Being that these traders are still alpha males, they will adore the admiration coming from the people in group D and even a few in group C. If they have a gift for gab, and are a programmer or know one, they may evolve into a snake oil salesmen.

    Group A this is it, the mythical elite trader. The people in this group are seldom seen or heard from in the boards. They are reclusive for the most part but a handful may help others in the trading community. The ones that don’t are just too preoccupied to spend time doing anything but making money. Trading is a religion to this group. These traders on occasion may actually give away strategies that are no longer working for them, but to everyone else its cutting edge. Sometimes they may give actual pertinent information, but they know in their hearts that the receiver of that information does not possess the skill or mindset to make any use of it. Morse code. No one is impervious to the market, if a trader from this group slips off to a lower group, he/she has the ability to pull themselves back up. However, if they fail to adept for some reason, or are just too old and weary, they become what is known as a multi-media guru. These traders have their own marketing team. They will amass a sophisticated machine selling everything from news letters to speaking appearances. They may even have their own late night info-mercial. They may easily make a nice living of this for several years with out having to make one single trade. As rarely seen as they were when trading, they become the opposite when they no longer trade. They will be everywhere. In time their product will fade is it will no longer be relevant.

    and there you have it.
  2. That is an excellent post.
    Words of wisdom pure and simple.
    Thanks for posting it.
  3. teck


    Go Duckling , love it- 100% acurate, lol
  4. 100 % accurate...still wondering in which group I belong

    How did you come up with the numbers ?
  5. teck


    no numbers just 10 yrs trading experience .....Duckling is no Duckling ....... by 2001 most Day traders were toast and realized the only hope was selling absolite info to keep going in the bussiness . The real traders arent on the net , negative i know but better to be informed than suckered.....
  6. There's a lot of "Group B" on this site, of which I am one of them.

    Good to know where you stand.
  7. Roanoke


    Could you create a "Group FFFF" just for me? For "flatulent fat fried-brain fucks"?
  8. Lilduckling,
    Please create a poll thread with this info, so we can see how large a percentage considers themselves in group A.

    For what its worth, and I would suppose that is exceptionally little, you can be a very successful trader and yet never consider yourself "elite" or egotistical enough to think what you know is worth selling. Over time the market is an ever changing stochastic enigma, one would not last very long to consider themselves a master of such a creature.
  9. The group A trader is truly a rare breed but chances are you would not know one if he were standing in front of you. There is no distinguishing characteristic or behavior pattern that will give him away. They blend into a crowd very well and nobody knows there is a big S under that shirt and tie, all they need is a telephone booth and they make that transformation. In fact they have undergone incredible personal transformation, gone to hell and back a few times and won the battle with the inner demons that the market forces you to confront.

    They are like the legendary dude in the movie "The Matrix" that can see and control all the code surrounding him; putting up his hand calmly to stop the approaching bullets before they actually reach him.

    As a result of all that they have almost no ego. Merely enough ego for self identification. No need to brag or boast to others. When push comes to shove they perform smoothly under incredible pressure. Cool, calm and collected, they continue to unload or accumulate their position while others panic, and run for the exits yelling FIRE! While others get excited enough to quickly jump on the bandwagon with little more than just a prayer and "the crowd must be right" mentality....these super traders bide their time and enter the market with precision and an uncanny timing that appears as if it were sorcery to the lesser mortals.
  10. Nice post.

    I'm definitiely a C [on the way up LOL] have been as high as a B and as low as a D.....

    You can pretty much tell where people are after reading a couple of their posts. Lots of C's and D's.... mostly D's.

    I have a high winning trade %age and am learning money management so I can hold on to my profits..

    Money management is the key to survival in my experience. For any new trader this is liekly to be the difference between making it and failing. This board has been brilliant for helping me sort this out.

    I also just removed the last indicator from my charts today.

    PS I trade price action with SAR.

    #10     Jul 6, 2008