Which personality types are the best traders? (Briggs-Myers test applied)
For the past 10 years we've asked ourselves what makes a Trader successful nature or nurture . curious to understand this ourselves how to survey to over a hundred of our customers who are actively trading in Futures and Forex . when we approached them via email ask them if they were not profitable they were still struggling in they're Trading . all of the people we reached out to where at complete a Briggs Myers personality based test . we weren't sure what to expect when the results came back, but when they finally were returned the correlations were staggering . two of the personality types of the 16 possible availabilities shootout with a higher-than-average profitability rate .
According to the Myer's foundation,
"The purpose of the Myers-Briggs Type Indicator® (MBTI®) personality inventory is to make the theory of psychological types described by C. G. Jung understandable and useful in people's lives. The essence of the theory is that much seemingly random variation in the behavior is actually quite orderly and consistent, being due to basic differences in the ways individuals prefer to use their perception and judgment."
Many companies use this test to put their teams together - understanding someone's strength and weaknesses and how they will work with someone else - who perhaps has either complimentary, or conflicting personality types. My own trading partner Ron - was given a test at a company he used to work for - that did contract work for Google and their data server construction. So we knew it was important.
There is some controversy regarding the accuracy and usefulness of the MBTI test presently - but when our results were returned - we were amazed to see that 2 of the 16 types had staggeringly different performance metrics. And several - including my own - had abysmally low performance returns.
I've got the class uploaded and ready for you to view - I taught it to a group of traders in our Las Vegas "EDGE " training series several years back - and the results are still consistently the same.
You can give this test to someone else - or to yourself - and predict your short term success rather accurately....
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Thank you for your time - and remember - the market you trade is not random.
Next article coming up soon.