Detailed Forex Trader Characteristics
The Detailed Trader is normally a very organized and methodical individual which is a great starting point for a trader. In fact, the detailed Forex trader has two of the key three characteristics that Dr. Van K. Tharp judges to be critical for the success of any trader.
Some additional beneficial traits of the “Detailed Forex Trader” personality type are their tendency to be systematic and thorough in trading related activities. They are logical people that will make decisions based on carefully collected facts that are thoroughly analyzed.
However, as with the majority of detail-oriented people, they may have problems with visualizing the big picture – which as we have discussed previously Dr. Van K. Tharp considers to be of crucial importance.
We discuss more on this in the trading challenges section below.
Analyzing large data sets is another strong point of detailed traders. They enjoy analyzing facts and details even though this is usually a very solitary experience – something that is not a big problem for this type of trader, and in fact, detail-oriented people may even enjoy spending time alone.
Being well-organized, trustworthy and reliable are some of the most prominent positive characteristics of this trader personality type that can provide an advantage for them in many trading situations. Detailed Forex Traders have no problem making plans and treating trading as business as they are logical people that value plans a lot.
They usually won’t have any problems with taking too much risk which is another strong point in this business.
The Detailed Forex Trader frequent challenges come from them being focused on the small details of a trading system or a trading plan. This often leads to them failing to see the big picture which is a crucial component necessary for trading success over the long run and can impede the Detailed Trader’s overall trading performance.
It’s important to recognize and work on improving in the next situation but focusing only on the negatives and being overly negative is not helpful in achieving success.
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