Van Tharp - What Kind of Trader Are You

[BlowFish 10]

http://www.tharptradertest.com/default.aspx?question=1

 

A questionnaire from the Van Tharp Institute. I treated it as a bit of fun however the results did not seem completely bogus. Innovation is probably one of the last things you need in trading, oh well. Be interested to see others results though of course a 10 minute questionnaire is hardly likely to be that revealing.

 

My 'profile' :-

 

You are an Innovative Trader!

 

Your goal is probably to understand the world, constantly absorbing new information that comes your way. You then process all of this through your intuition to quickly size up what is going on around you. This can be an excellent quality for traders and investors if you get the right information. Otherwise your decisions and conclusions may tend to be flawed. And this could be costly for you as a trader...

 

One of your Trading Strengths

 

You can quickly determine if a new style of trading or system will fit well with your personality and you get very excited about it.

 

One of your Trading Challenges

 

You want external confirmation for everything and have a strong need for a mentor.

[Dr Who 10]

Thanks for the link there Blow Fish.

[brownsfan019 17]

You are a Detailed Trader!

 

The Detailed Trader type suggests that you are very quiet and serious. You tend to earn your success by being thorough, methodical, systematic, organized, and dependable. You are also realistic and responsible as long as things make sense for you. You have two of the three qualities that are necessary for trading success (i.e. You make decisions based on logic and analysis and you are decisive, orderly and do things sequentially). Thus, if you are willing to commit yourself, you'll probably be quite successful as a trader. However, you may need some help seeing the big picture that is necessary for trading success...

 

One of your Trading Strengths

 

You should have no problems staying with and executing a simple trading system that someone gives you and you feel confident about.

 

One of your Trading Challenges

 

You love the details of trading system analysis and development so much but you can often be working on the wrong things. Your efforts can be misguided if you are following the wrong guidelines or advice.

 

========================================

 

That was fun and I must say, pretty damn good. If you continue clicking through, you get even more stuff! Nice find!

[torero 10]

This is me:

 

-----------------

 

You are an Adventurous Trader!

 

Generally you are a quiet and flexible observer until a problem appears and then you act quickly to find a solution. You are good at determining what makes things work and going through a large amount of information to find out what is important. This quality will help you immensely as a trader. You are not easily persuaded by anything that is not based on fact. However, if your orientation tends to be external, then you are probably a big risk taker...

 

One of your Trading Strengths

 

You're great at analyzing details to determine what makes things work.

 

One of your Trading Challenges

 

You might have problems with self analysis which is critical to eliminating mistakes in trading.

 

-----------------

Apparently, Jimmy Rogers and Stu Ungar and I have the similar personality.

[Soultrader 12]

This is me:

 

You are an Independent Trader!

 

If the markets interest you, you'll probably work to develop a logical explanation for how they work. This is because you love theoretical ideas and abstract concepts (in fact, much more so than people interactions). This can be great for trading success, if you don't get too theoretical. This type of trader profile suggests that you value knowledge above all else. As a result, you'll be constantly generating new ideas about the market or trying to disprove the ideas that you learn from others...

 

One of your Trading Strengths

 

You can quickly determine if a new style of trading or system will fit well with your personality.

 

One of your Trading Challenges

 

Your trading could dominate your time and you could become socially isolated, which in turn could upset others, particularly if you have a spouse.

 

--------------------------------------------------------------------------

 

Hmm.. interesting. I had issues balancing work and personal life so made some drastic changes starting in 2008 to enjoy my social life.

[GCB 10]

You are a Detailed Trader!

 

The Detailed Trader type suggests that you are very quiet and serious. You tend to earn your success by being thorough, methodical, systematic, organized, and dependable. You are also realistic and responsible as long as things make sense for you. You have two of the three qualities that are necessary for trading success (i.e. You make decisions based on logic and analysis and you are decisive, orderly and do things sequentially). Thus, if you are willing to commit yourself, you'll probably be quite successful as a trader. However, you may need some help seeing the big picture that is necessary for trading success...

 

One of your Trading Strengths

 

You should have no problems staying with and executing a simple trading system that someone gives you and you feel confident about.

 

One of your Trading Challenges

 

You love the details of trading system analysis and development so much but you can often be working on the wrong things. Your efforts can be misguided if you are following the wrong guidelines or advice.

 

========================================

 

I took it twice and reversed the answers to "on the fence" questions the second time around and I still came out a Detailed Trader. :o The description sounds like me. But I think I'm more of a non-conformist that it gave me credit for, but that's a good thing according to the test.

 

 

Hi Guys,

 

I'm getting back into trading after a 7 month hiatus with a new job. I just put it aside and honestly barely thought about it for 6 months. I was prepared to just let it go. But then I thought, what about that dream....

 

Now it seems a lot less intimidating. I made some trades in the last month and been successful. Nothing big, but I am noticably making more rational decisions. It doesn't seem like the monster it was before. It helps to have another source of income.

[Nick1984 10]

You are an Innovative Trader!

 

Your goal is probably to understand the world, constantly absorbing new information that comes your way. You then process all of this through your intuition to quickly size up what is going on around you. This can be an excellent quality for traders and investors if you get the right information. Otherwise your decisions and conclusions may tend to be flawed. And this could be costly for you as a trader...

 

One of your Trading Strengths

 

You can quickly determine if a new style of trading or system will fit well with your personality and you get very excited about it.

 

One of your Trading Challenges

 

You want external confirmation for everything and have a strong need for a mentor.

 

 

I'm still yet to place a propper trade since having my car smash a few months back. I've been focusing mostly on enjoying life. I guess I'm tending to value the instantanious moments more now and I'm finding it kind of hard to get back into the swing of things. My desire to get back into a routine are creeping back slowly slowly and I'll get back into trading as soon as I'm mentally prepared.

[torero 10]

Sorry to hear that nick. Miss ya around here. Come back when you're ready. Always have a home here!

[Jakew 10]

You are a Strategic Trader!

 

You probably live in a world of ideas and strategic planning. This is because you value intelligence, knowledge, and being competent. These are great qualities for a trader/investor. In fact, you have the three core qualities that are essential to being a great trader (i.e. you have the ability to see the big picture, new possibilities and connections between things. You make decisions based on logic and analysis and you are decisive, orderly and do things sequentially). You have an original mind and a great drive to implement your ideas and achieve your goals. Thus, if trading success is important to you, you'll probably find a way to achieve it...

 

One of your Trading Strengths

 

Originality and drive; willingness to follow your ideas through to completion.

 

One of your Trading Challenges

 

Probably so logical that you don't recognize when emotions are causing you to self-destruct.

 

 

 

 

Thanx for the opportunity to test myself.

[smwinc 20]

You are a Planning Trader!

 

You tend to be decisive and to the point. You'll quickly assume leadership when it is called for by the circumstances around you. You have the ability to quickly develop and implement trading systems to meet your needs. You have the three core qualities that are essential to being a great trader (i.e. you have the ability to see the big picture, new possibilities and connections between things. You make decisions based on logic and analysis and you are decisive, orderly and do things sequentially). You can easily spot logical inefficiencies in the market and take advantage of them, especially if you are pointed in the right direction. You enjoy long-term planning and goal setting and seem to enjoy learning, expanding your knowledge and staying well-informed...

 

One of your Trading Strengths

 

Originality and drive; willingness to follow your ideas through to completion.

 

One of your Trading Challenges

 

Probably so logical that you don't recognize when emotions are causing you to self-destruct.

 

-----------

 

Interesting, thanks for the link.

[Yuna 10]

Glad i found this forum. i think it is very good desu!

 

My profile is that of an Independent Trader.

 

a little abt myself. i trade E-mini Futures. taking in small profits here and there but not sufficient to make a living yet.

been at trading coming to 2yrs. and have a debt to clear due to early gunslinging trading days.

basically learning by elimination with no mentor. none of my frens are traders...

 

wanna do it full time for life cos i have no flair for biz & dun like office politics.

trading is intriguing for me cos its one of the most complex subject i come across, esp abt trading psychology.

i'm just happy that my understanding has deepen enuf to achieve some consistency.

i'm hopeful to clear my debts and realise my vision of becoming the globally mobile trader.

 

You are an Independent Trader!

 

If the markets interest you, you'll probably work to develop a logical explanation for how they work. This is because you love theoretical ideas and abstract concepts (in fact, much more so than people interactions). This can be great for trading success, if you don't get too theoretical. This type of trader profile suggests that you value knowledge above all else. As a result, you'll be constantly generating new ideas about the market or trying to disprove the ideas that you learn from others...

 

One of your Trading Strengths

 

You can quickly determine if a new style of trading or system will fit well with your personality.

 

One of your Trading Challenges

 

Your trading could dominate your time and you could become socially isolated, which in turn could upset others, particularly if you have a spouse.

[Guest forsearch]

You are a Strategic Trader!

You probably live in a world of ideas and strategic planning. This is because you value intelligence, knowledge, and being competent. These are great qualities for a trader/investor. In fact, you have the three core qualities that are essential to being a great trader (i.e. you have the ability to see the big picture, new possibilities and connections between things. You make decisions based on logic and analysis and you are decisive, orderly and do things sequentially). You have an original mind and a great drive to implement your ideas and achieve your goals. Thus, if trading success is important to you, you'll probably find a way to achieve it.

 

You are quick to see patterns in the market and develop a perspective that allows you to take advantage of it. Consequently, we recommend that you study what great traders typically do because, if you do, you'll probably become one of them.

 

You are an avid learner and thinker therefore understanding trading and trading systems will probably be something that is quite easy for you to grasp. You easily understand abstract and complex theories and can be a master of conceptual and analytical thinking.

 

If you become committed to trading success, you'll probably have no problem developing a business plan to help you succeed as a trader. In addition, you tend to be independent, which is an essential quality of traders, and have high standards for your performance as a trader.

 

As a trader, you'll probably focus on observing the markets and generating ideas and possibilities for generating profits. This is one of the primary reasons that, if you commit to it, you have the potential to be an excellent trader/investor. In addition, since you have all of the primary qualities that most of the top traders have, if you apply yourself, then your chances of success are very high.

 

Trading Strengths

 

1. Originality and drive; willingness to follow your ideas through to completion.

2. Quickly see patterns and possibilities, with the ability to rapidly hypothesize and generate low risk trading ideas.

3. You could probably generate a trading business plan and trading systems quite easily and naturally.

4. Able to understand and trade in both short and long term positions.

5. You strive to be the best and only want to associate with the best.

 

Trading Challenges

 

1. Probably so logical that you don't recognize when emotions are causing you to self-destruct.

2. You have a strong desire to be right, even to the extent of perfectionism. This might cause you to never actually trade because you're continually trying to develop or buy better systems.

3. You may be susceptible to the loss trap. Therefore you may not honor your stops because you want to be right about your trades.

[TacTrader 10]

Here I am...

 

You are a Detailed Trader!

 

The Detailed Trader type suggests that you are very quiet and serious. You tend to earn your success by being thorough, methodical, systematic, organized, and dependable. You are also realistic and responsible as long as things make sense for you. You have two of the three qualities that are necessary for trading success (i.e. You make decisions based on logic and analysis and you are decisive, orderly and do things sequentially). Thus, if you are willing to commit yourself, you'll probably be quite successful as a trader. However, you may need some help seeing the big picture that is necessary for trading success...

 

One of your Trading Strengths

 

You should have no problems staying with and executing a simple trading system that someone gives you and you feel confident about.

 

One of your Trading Challenges

 

You love the details of trading system analysis and development so much but you can often be working on the wrong things. Your efforts can be misguided if you are following the wrong guidelines or advice.

[Guest forsearch]

Here I am...

 

You are a Detailed Trader!

 

The Detailed Trader type suggests that you are very quiet and serious. You tend to earn your success by being thorough, methodical, systematic, organized, and dependable.

 

Hey TAC,

 

How does being in Law Enforcement ( I presume Tactical aka SWAT) impact your trading strategies?

 

Just curious....

 

-fs

[TacTrader 10]

Hey TAC,

 

How does being in Law Enforcement ( I presume Tactical aka SWAT) impact your trading strategies?

 

Just curious....

 

-fs

 

Hi FS,

 

I think the biggest impact is to be regimented. I have a hugely structured work life and have carried that over into trading. I am not a successful trader yet so right now it is hard to break it down any further. My definition of success is to trade full time. Hopefully in the near future I will be able to reflect back and give some more meaningful analysis but for now it is price, price, price....

 

Hope you had a good trading day!

 

Tac

[neutral 10]

According to van Tharp these are the three core qualities that are essential to being a great trader i.e.:

1-you have the ability to see the big picture, new possibilities and

connections between things

2-you make decisions based on logic and analysis

3-you are decisive, orderly and do things sequentially

 

The only one I miss is dedication.

 

I wonder what you strategic traders have answered on this question:

I said the definite(I like my stoplosses live)

=

Do you put more value on:

the definite?

the open-ended?

=

[Sledge 13]

You are an Administrative Trader!

 

People who fit into this category have several of the qualities that make a good trader. You tend to be practical and realistic, and decisive. You move quickly to implement decisions and these are all good for trading. You love facts and what you think is concrete. You are very good at making sure that things run smoothly. As a result, you tend to be good at organizing projects and people to get things done the most efficient way possible...

 

One of your Trading Strengths

 

You should have no problems staying with and executing a simple trading system that someone gives you and you feel confident about.

 

One of your Trading Challenges

 

You love the details of trading system analysis and development so much but you can often be working on the wrong things. Your efforts can be misguided if you are following the wrong guidelines or advice.

[Guest forsearch]

Hi FS,

 

I think the biggest impact is to be regimented. I have a hugely structured work life and have carried that over into trading.

 

Tac,

 

Many people with such careers often have to let off steam somehow. For your sake, I'm hoping that trading isn't your release hatch.

 

-fs

[TacTrader 10]

Tac,

 

Many people with such careers often have to let off steam somehow. For your sake, I'm hoping that trading isn't your release hatch.

 

-fs

 

That would be sex.

[Wilson 10]

I am a detailed trader! ;-)

Thanks for the link!

[TheNegotiator 13]

Thought I'd have a go at the questionnaire. Here's my result!

 

You are a

Facilitative

Trader

 

You are decisive, orderly and able to do things sequentially. You like to be given information in a straightforward and methodical manner. You are imaginative and like to create and write about new possibilities. You strive for variety and new challenges and put the needs of people before rules.

 

One of Your Trading Strengths - You bring energy, creativity and a willingness to explore new ideas to system development and trading.

 

One of Your Trading Challenges - You may have a need for external confirmation of your ideas, systems and beliefs to the detriment of developing your own system.

[SpideySense 10]

I'll give them points for right.

 

YOU ARE A PLANNING TRADER

 

You tend to be decisive and to the point. You can spot logical inefficiencies in the market easily and take advantage of them, especially if you are pointed in the right direction. You enjoy long-term planning and goal setting and seem to enjoy learning, expanding your knowledge and staying well-informed.

 

One of Your Trading Strengths - You could probably generate a trading business plan and trading systems quite easily and naturally.

 

One of Your Trading Challenges - You may not honor your stops because you want to be right about your trades

[ahimsa 10]

Thanks for the test,iìm just done,i'm an independent trader,or better the perspective are of an independent trader when will become one day my first job,if will become.

[TheNegotiator 13]

Very nice ahimsa. I'm sure with dedication you will become that independent trader sooner or later.

[ahimsa 10]

Thanks for your optimism,lovely,ìm not so sure like you,maybe because i put in first position other topics,i think is the true problem or lucky that distracted me,from trading .since some month ago i love trading now i'm in a mystic and thoughtful time.maybe its happened somethings and i would like to understand better what!