What type of trader are you? I'm a Detailed Trader.

I just took the test 'What type of trader are you? And the result...I'm a detailed trader. Below is the report.

The Detailed Trader type suggests that you are very quiet and serious. You tend to earn your success by being thorough, methodical, systematic, organized, and dependable. You are also realistic and responsible as long as things make sense for you. You have two of the three qualities that are necessary for trading success (i.e. You make decisions based on logic and analysis and you are decisive, orderly and do things sequentially). Thus, if you are willing to commit yourself, you'll probably be quite successful as a trader. However, you may need some help seeing the big picture that is necessary for trading success.

You have a tremendous internal store of facts that you like to analyze. But you also tend to have trouble seeing anything that is different from your internal picture of the world. As a result, one of your biggest challenges is that you have a distinct idea of what is right and you feel it is your duty to defend that. This can be a real problem in the trading arena where being independent and a non-conformist are important.

Because you like to analyze, you will tend to identify the facts, label them and then categorize the information so that it makes sense to you. You work best with clearly stated objectives and procedures although you should be vigilant about who's directives you are following in the trading arena, or you may find yourself working on the wrong things.

Trading can be a solitary and lonely business; however this is something that might actually suit you because you do not mind working on your own. You enjoy thinking things through before sharing with others.

You will probably decide logically what needs to be done and work toward it little by little until you are finished. You tend to take pleasure in making everything orderly and organized. This is a great quality for trading success as long as you are organized in the right manner.

Trading Strengths

1. You should have no problems staying with and executing a simple trading system that someone gives you and you feel confident about.
2. You should be really good at data analysis/developing business plans especially when someone provides you with the exact steps to take.
3. You could easily treat trading as a business provided your life is in order and you have no major distractions. However, be aware that if you have a lot of stress then this strength could turn into a weakness and cause you problems.

Trading Challenges

1. You love the details of trading system analysis and development so much but you can often be working on the wrong things. Your efforts can be misguided if you are following the wrong guidelines or advice.
2. Under stress, you tend to redouble your efforts and try harder and better in the belief that you can dig your way out of a hole, but you could be digging in the wrong place.
3. You can tend to be overly critical and only notice the negatives in your trading. If you do not learn how to recognize your mistakes then you could become stuck.

Our model of the detailed trader is Warren Buffet who once said, "If you want to be a successful investor, then you have to know every detail of every listed stock. And when someone said, "but there are over 7000 listed stocks," Buffett responded, "Start with the A's."