What Type of Trader Are You?

So let’s talk about “What Type of trader are you?”

This is a follow up to my previous article, “The Traders Journey.”

So here’s what I’m seeing. There are 2 extreme types of traders.

The Type of Trader Who Wants to Know Everything

1.) This type of trader can’t get enough information. They’re like a ‘knowledge vacuum’:

This type of trader thinks that by knowing EVERYTHING they can, this will inevitably lead to them making money in the markets.

So he keeps reading books, watching YouTube videos, attends webinars…knowledge, knowledge, knowledge.

… and he hasn’t placed a single trade yet.

So think about it this way:

Let’s say there’s somebody who wants to run a marathon. So he starts reading books about it and watches videos.

He knows all about pacing, how he should train and what he needs to eat. He know the best shoes for running a marathon, and the best clothing…

…. but he hasn’t run a single mile yet.

Now onto…

The Type of Trader Who Doesn’t Know Anything

Now here’s the other extreme.

The other extreme is the “trader” who doesn’t know anything, but they got a “hot stock tip from somebody.”