Ask Colin

How much understanding of yourself do you need, to know if trading suits your personality, temperament, etc.

Successful trading demands that you have a very clear idea of who you are and what your attitudes, value systems, temperament etc are. No trading plan will work successfully unless it fits you. Indeed, many people come to trading with the idea of avoiding problems in these areas in other occupations, only to find that the market ruthlessly seeks out and exposes these problems.

Trading requires someone who is very comfortable with analytical thinking. They also need to be very flexible and risk averse. The two Market Wizard books by Jack Schwager give a very good picture of the minds of great traders.

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