In the other 95%/5% thread, personality traits were being discussed as reasons why most of the population fails or does not attempt trading. I thought it would be interesting to see what most trader's personality traits are... Here is a link to the ~3 minute test (free, no email or registration) - http://www.teamtechnology.co.uk/mmdi/questionnaire/
History Trivia: Myers & Briggs developed the methodology in prior to world war 2 It was used originally to identify jobs (both in and out of the military) most suitable for different personality types http://www.myersbriggs.org/my-mbti-personality-type/mbti-basics/the-16-mbti-types.asp
Myers Briggs built on the work of Karl Jung and he built on the work of Greek Philosophers... I still think that Myers Briggs work was one of the greatest scientific advances of the 20th century, up there with the computer with regard to benefit to me personally..
Being an ENTP I adpated my style of trading to suit my persona. And that means avoid day trading at all costs unless it was on the pitt floor where I always excel. Cant wait to hit CME this summer
Very, very interesting. I earlier took a short four question version of the test mentioned in an earlier thread that pegged me as an INTP. I was astounded how well it described me. I was thinking there was no way four questions could be so predictive. This test had many more questions and I was thinking it would give a different result but it pegged me again as an INTP. The Thinker. I should pay more attention to this, especially the aspects of this personality that need improving, like my interpersonal skills. This really drives home the point that everyone is different and knowing who you are is important. Here I thought I was perfect but it seems even I have shortcomings. We are too close to ourselves to really know ourselves. This website deals with this pretty well http://www.personalitypage.com/html/info.html and here discusses areas to work on.. http://www.personalitypage.com/html/personal.html
You know that you are in trouble, if the majority of the poll here on ET is one personality type: INTJ... and you are one of them
I don't think so. If I remember correctly, there are some studies about professional gamblers (e.g. poker players) and even traders out there which confirm that the successful ones are mostly INTJs and some off them INTPs. However, while being an INTJ seems to be favorable for being successful as gambler or trader, it doesn't mean it's all that's required. Still, most INTJs will fail at trading. But I think that other personality types - especially the "feeling" ones are even worse off at trading than INTJs. While maybe 80-90% of INTJs may fail at trading, I bet that the failure rate for the "feeling" types is even closer to 100%.