There are so many types of trader personalities in forex, which of you are included? Psychological factors are often associated with various things including work. In the financial industry, especially trading, the personality of a trader also has a large share in achieving success. Are you curious about the review? Check the info below.
TRADER PERSONALITY TYPE
Based on an explanation from Dr. Van K. Tharp who is a professional psychologist and trader trainer, is known that there are 15 general types of trader profiles according to his personality. Here’s the list:
- Accurate Traders
- Administration Trader
- Artistic Trader
- Adventurous Trader
- Detailed Traders
- Facilitative Traders
- A Trader Who Loves Fun
- Independent Trader
- Innovative Trader
- Trader Planning
- Socially Responsible Traders
- Spontaneous Trader
- Strategic Trader
- Supportive Trader
- Value Chase Trader
CHARACTERISTICS OF SUCCESSFUL TRADERS
Dr. Tharp has identified 3 main psychological elements of great traders who tend to share. The characteristics that the trader wants consist of the following characteristics:
- Able to understand the big picture to connect events and identify trading opportunities.
- Able to use logic and analysis to base trading decisions.
- Orderly, firm and able to operate in sequence.
THE BEST PERSONALITY TYPE SUITABLE FOR TRADING
Of the types of traders’ personalities previously mentioned, there are only two that fulfill all the characteristics desired by successful traders, namely strategic traders and planning traders.
Traders who are included in this type of personality have the best possibilities for success as traders. Not only do they tend to have successful finance when trading but they also have what it takes to have profits under various trading market conditions because of their mental flexibility.
TYPES OF PERSONALITY THAT CAN BE SUCCESSFUL WITH SOME HARD WORK
A group larger than 10 types of traders has one or two desirable characteristics of a successful trader. 10 types of traders who are quite successful are detailed traders, Facilitative traders, innovative traders, spontaneous traders, independent traders, administrative traders, value-chasing traders, socially responsible traders, accurate traders and adventurous traders.
Traders will do well to work on developing traits or traits that they do not master or have from a total of 3 characteristics shared by successful traders above (see 3 points in the first sub article).
With a number of personal observations and after displaying appropriate work on the response of their behavior as traders, they can usually also be successful traders like planning and strategic traders.
TYPES OF PERSONALITY THAT FIND SUCCESSFUL TRADING WITH CHALLENGES
From the type of personality of the trader mentioned earlier, according to Dr.Tharp there are at least 3 types of personalities that are not suitable in trading, namely artistic traders, traders who love fun and supportive traders. All three are less suitable because they do not have the characteristics of successful traders.
Traders who fall into this category have considerable challenges and even very large in obtaining success in trading. In this case it is not said that they cannot win but they need to work very hard to become successful traders.
Overall to be a successful trader , it doesn’t only require personality or supportive traits. More than that, the willingness of the trader himself, the willingness to learn and also good habits will help an ordinary trader become a successful trader. So what do you think is the type of personality that suits you?