22 replies to this topic

[arbman]

If successful trading was an one time thing, the psychopath approach could work, actually any approach could work since it would be a pure gamble. Instead, you are supposed to find a few statistically viable methods and exhaust them as much as you can with the appropriate money management...

[securelstmile]

I am going to add to the list based on the input. I am not looking for methods or wisdom but personality characteristics. I like semis input about honesty with one self which I will call being realistic in general. Also, the psychopath comments make sense to me in the sense that this is not a social activity but rather borders on anti social. If you are doing this to be social you will make friends but you may or not make money. This is the list I think makes sense. Realism Greed Loner/independent Fearless/rebellious Meticulous record keeping (I think this helps one stay realistic.) Unemotional Intelligence Open to learn Competitive Focused

[securelstmile]

The loner comment reminds me of a conversation I had recently with a good friend. This guy is on the management team of a publicly traded company. I told him recently I like the stock both for fundamental and technical reasons. He said, "So you own it." I said, "Oh no. I like and respect you too much to own that stock." He didn't get it. I explained I was afraid that my respect for him would sway my decision to buy or sell. I was not objective. I just stay away. But I was happy for him that he was making a bundle on his options.