2010-01-11

The Personality of a Trader

Its hard not to trade, and also without the posting but the Pangs of remorse reminded me that Ive taken a "Trader Personality Test" a while ago and I tought it might be interesting for some of you to check it out yourself. Its complitely free and there are a couple of other tests, but I took just the trader's personality test. Beneath you can see my results, unfortunately the details are not clickable since you would have to log in in my account but I guess you are more interested in your own results anyway ;)  


PERSONALITY FACTORS

Conscientiousness : Very High 
Emotionality : Very Low 
Extraversion : High 
Openness : Very High 
Agreeableness : Above Average 

For Details Click here

BIAS REPORT
Confidence Biases
Overconfidence : High
Over-Optimism : High
For Details Click here
 
 
Risk-taking Biases
Risk Aversion : Very Low
Emotional Vulnerability : Very Low
Holding Losers too Long : Low
Cutting winners short : Above Average
For Details Click here
 
 
Impulse-control
Self-discipline : Very High
Immediate Gratification : Below Average
Excitement-seeking : Below Average
For Details Click here
 
Intellectualism
Intellectualism : High
For Details Click here
 
Herding
Trend-following : High
For Details Click here

2 Kommentare:

Zdenek on January 14, 2010 5:59 AM said...

Hi, this is Zdenek again.

Thanks for the test. I always like to test myself especially in trading terms.
Anyway, I've read about your plan-delays because of the school. Well, don't get stressed too much and take trading break if neccessary. In my eyes you are doing very good job and if it will be $1 million in 500 days it's still the same result.
As I wrote in the past comments, I don't daytrade anymore, because of the time-consuming nature of intraday. I think that you will (after this project experience) consider other ways of trading and will find more relaxing one, like I did. Believe me, it's far better feeling to make 60% in 3 months by doing virtually "nothing" than double the capital in 30 days by doing intraday, catching pip here and pip there. But as every art, trading requires time and you are spending it wisely. Keep it up, finish the school obligations and get back when you're ready.

Have a successfull year and, may the Pips be with you ;)

Arslan on January 16, 2010 3:52 PM said...

Hi Zdenek,

i must admit it makes sense what you are writing, cosidering that the human ability to handle stress is limited and when you mess with your mental strengh you maybe have to pay a very high price (in material as non material way). Well se how things are going to work out.

Thx, you too mate ;)

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My Name is Arslan im an architecture student living in Germany. Since the young age of 15 I've been interested in trading stocks and recently I started trading the FOREX market aswell. Since I like challenges I thought it might be interesting to try trading 100 $ into one Million $ in the short period of one year. Neither do I consider myself a "Inverstment-Guru" nor do I follow some fancy secret methods of such a person, rather I stick to the basics of trading. If you have Questions or just need someone to write to contact me here.

Site Info

This site is basicly a diary of my attempt to become a Daytrade Millionaire in one year. I will daily update the blog with new informations about the placed positions and the resulting profits and as the case may be losses ;) The project starts on November 2nd, 2009 and ends on Oktober 31th, 2010.

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How I'll do it

To turn 100 $ into 1.000.000 $ in one year the capital has to grow daily by 3,55 % (first day the profit should be minimum 3,55 $ the last day about 36 k $). I will never trade more then 5% of my account value, so I can keep the risk on a decent level. I will trade only the Forex market because the comissions are more attractive and the trading plattforms more suitable for my experiment since it requires a small amount of money to start trading with. This is my plan.

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