Here is a useful link to help define what kind of trader you are. It comes from the site of Van Tharp a well-known and respected Trader Coach who was covered in Jack Schwager’s book Market Wizards and was one of the final candidates for the Richard Dennis’s Turtle Trader program. He’s the author of several good books on Trading and I’m presently enjoying his latest book, Supertrader.
The test should take about 4 minutes and whilst not exhaustive should give you a good idea on what type of trader you are and where your strengths and weakness lie (should you not be painfully aware of them already).
http://www.tharptradertest.com/default.aspx?question=1
It would be interesting to see what peoples results are from the test.
My own result was Strategic Trader. Whilst that means I have an excellent chance of success as a Trader does that mean I can just kick-back and watch the money roll in safe in the knowledge that a 4 minute test has pre-determined my future? I wish. It still means I have to work immensely hard at trading, focusing on my strengths, being aware of my weaknesses and planning accordingly.
Good luck and I look forward to hearing about your results.
December 16, 2009 at 1:14 pm
I took the test and it came back saying I was a “Values Driven Trader” – I have only been trading for around 10-12 months so personally still think i am finding out what type of trader I am – do you think the type of trader I am now will be the type of trader I will always be or will you change as a trader – which in some ways means changing your personality? Have you felt you have changed not only as a trader but as a person as well throughout your trading journey??
December 17, 2009 at 9:00 am
Hi Allison,
Thanks for your post and comments. In answer to your questions I think you’ll find that you will change over time as both a person and a Trader. In fact you’ll have to change should you wish to be successful as a Trader.
One of the reasons so many fail is that they expect everything else to change about them, including the markets. They either never realise or never accept that the market will always just do it’s thing and that it’s down to the individual to change to get in tune with the markets song. Most people can’t or won’t handle that situation. I guarantee that you will be required at times to conduct some serious soul searching and it’s at those moment that you will have to make choices about changes required in order to move your trading to the next level.
That may sound somewhat ominous and depressing…and it can be, but it doesn’t have to be. That’s part of the choice! By making personal growth part of your Trading plan you’ll be in much better shape to weather the storms.
I hope that helps.
Paul
December 17, 2009 at 8:39 pm
Hi, Whats the G – force trade?
Thanks
Merlin
(a planning trader?)
December 18, 2009 at 7:46 am
Hi Merlin,
Thanks for your post. The G-Force is one of FXTrader Sandys proprietary trade set-ups. She has a number of specific set-ups that she uses that work for her…because they suit her style of trading.
All of us have our own style and set-ups that match our personalities. In my experience of coaching hundreds of traders the most successful ones are the ones who use their own set-ups that match their style and personality. I think it was Shakespeare who wrote, “To thine own self be true.” That’s very applicable to successful trading.
Regards,
Paul
November 20, 2013 at 4:51 pm
Really interesting test, I am a supportive trader according to it. I would have to say I strongly agree that my ‘creativity often comes from flashes of insight into the nature of things or the needs of people’. Will share this with my colleges! I found this test on trader personalities – bit on the lighter side – what do you think? http://www.gomarkets.co.uk/
December 29, 2013 at 1:46 pm
Hi Sarah – thanks for your comments and feedback. I’m pleased to hear you found it it insightful.