Each of us has his own unique personality. We are all unique, but we all have some common personality traits. Some personality traits can help us become better traders, while others may lead to our failure. Before starting your career as a foreign trader, you must judge your own personality and learn to manage bad personality characteristics or not participate in foreign exchange trading.
SAP’s world
Dr. van K. Tharp is a leading training coach and happens to be a qualified psychologist. He proposed a list of 15 different personalities that traders should have. This list is interesting because it goes back to the question of whether you are suitable to be a foreign exchange trader. You can learn more details on his website, but you can also confirm which of the following 15 personality types you belong to: accuracy, management, art, adventure, attention to detail, convenience, fun, independence, planning, social responsibility, spontaneity, research strategy, support and value driven.
How to be an outstanding trader?
SAP believes that the following are the three main personality characteristics of outstanding traders:
·Be able to understand the big situation and understand the relationship in trading opportunities.
·Be able to trade rationally, analyze the market and make trading decisions.
·Self discipline, decisive, do things step by step.
Some of the 15 types of traders have one or more of the above personality characteristics. The more traders of a certain type have the above characteristics, the more likely they are to succeed.
The personality type with the highest score
Among the 15 types, only 2 types have all the above three personality characteristics, planning traders and strategic traders. If you are one of them, you have a good chance to become a successful foreign exchange trader. You are not only good at finding opportunities, but also have strong discipline, flexible thinking and easier to succeed.
Successful personality types
Most personality types are in the middle, with one or two good personality characteristics. We won’t list them here one by one, but if you’re not the one with the highest score or the one who thinks the transaction is too challenging, I’ll talk about this later, then you’re one of them. If this is the case, it may not all be lost. Carefully and honestly consider your personality and determine whether you lack three ideal personality characteristics. Then, try to make up for the characteristics you don’t have, especially when trading, pay special attention to the performance of the corresponding personality. If you try to improve your response, you have a good chance of becoming a successful trader.
Personality types who find trading difficult
Now for the bad side. If you are artistic, fun or supportive, you must think deeply for a long time before becoming a foreign exchange trader. You’d better let others trade for you. If you decide to be a trader, you must really focus on changing your behavior and be prepared for a long time. You should also ask for feedback regularly so that you can see yourself as others see yourself.