I was interested in finding out what trading style suits me best and came across this test… Didn’t really take it seriously at first… but was quite impressed by the accuracy of its results…
http://www.tharptradertest.com/default.aspx?question=1
My result: Independent 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.
Van Tharp identified three core qualities that are essential to being a great trader:
- The ability to see the big picture, new possibilities and connections between things.
- Make decisions based on logic and analysis
- Decisive, orderly and do things sequentially
Independent traders posses the first two, so need to work on the third. This is really quite true for me… I definitely need to be more orderly.. I need to work on developing a business plan for trading… but how do I do that???
(by Dave Baum).
