• 511 days Will The ECB Continue To Hike Rates?
  • 512 days Forbes: Aramco Remains Largest Company In The Middle East
  • 513 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 913 days Could Crypto Overtake Traditional Investment?
  • 918 days Americans Still Quitting Jobs At Record Pace
  • 920 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 923 days Is The Dollar Too Strong?
  • 923 days Big Tech Disappoints Investors on Earnings Calls
  • 924 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 926 days China Is Quietly Trying To Distance Itself From Russia
  • 926 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 930 days Crypto Investors Won Big In 2021
  • 930 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 931 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 933 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 934 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 937 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 938 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 938 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 940 days Are NFTs About To Take Over Gaming?
Elliott Wave International

Elliott Wave International

Elliott Wave International

Elliott Wave International (EWI) is the world's largest market forecasting firm. EWI's 20-plus analysts provide around-the-clock forecasts of every major market in the world via…

Contact Author

  1. Home
  2. Markets
  3. Other

What Personality Type Makes the Best Trader?

EWI's Jeffrey Kennedy shows you how your psychological strengths and weaknesses determine your ability to "live long and prosper" in fast-moving markets

Do your decisions rely on data, or do you go with your gut?

Think about your most recent auto purchase. Was it based on meticulous consumer research or did you go with a model that "felt right"?

How about the last time you had to assemble something? Did you read the manual first or just figure it out as you went?

What about your most recent successful stock market trade?

Consistent trading success demands independent thinking and emotional discipline.

Jeffrey Kennedy, our Chief Commodity Analyst and highly-respected tutorial instructor, says:

I just cannot stress enough how you have to manage your emotions whenever you're on [a] position.

Field dependence can sabotage you unknowingly when you're trading, because you'll see a trade signal, the trade will be there, but "it just won't feel right."

[It's] one of those things that can sabotage us if we're not aware of it, or, more importantly, [don't] have a well-defined methodology and the discipline to follow it.

In footage from his trading course in Las Vegas, he goes on to discuss the psychological profile that makes "the best trader:"

 

 


Learn more about managing your emotions, developing your trading methodology, and the importance of discipline in your trading decisions in The Best of Trader's Classroom, a FREE 45-page eBook from Elliott Wave International.

Since 1999, Jeffrey Kennedy has produced dozens of Trader's Classroom lessons exclusively for his subscribers. Now you can get "the best of the best" in these 14 lessons that offer the most critical information every trader should know.

Find out why traders fail, the three phases of a trader's education, and how to make yourself a better trader with lessons on the Wave Principle, bar patterns, Fibonacci sequences, and more!

Don't miss your chance to improve your trading. Download your FREE eBook today!

This article was syndicated by Elliott Wave International and was originally published under the headline What Personality Type Makes the Best Trader?. EWI is the world's largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.

 

Back to homepage

Leave a comment

Leave a comment