The Adventurous Trader

The next psychological profile in Van K. Tharp’s series on trader personality types is the Adventurous Trader.

This trader type would suggest an individual who has the flexibility and risk taking ability necessary for trading successfully.

Adventurous Trader Qualities

The Adventurous Trader tends to be extremely flexible and open when engaged in trading the market.

These traders are inclined to avoid being too committed to any one way of getting things done, and therefore they are able to keep an open mind when trading.

Another valuable quality that Adventurous Traders commonly exhibit is the capacity to take in and analyze a large quantity of information. This allows them to determine what is important and what would work best for them in that particular trading situation.

Adventurous Traders tend to rely on facts and are not easily persuaded otherwise. Furthermore, many traders who fall into this personality type category can be big risk takers since they identify taking risk with adventure. 

Trading Strengths

The Adventurous Trader’s ability to take in information and analyze large amounts of data to determine what would work best in any given trading situation are one of the key trading strengths in this psychological profile.

In addition, they are also served when trading by their flexibility in making trading decisions and their not being too firmly attached to using one particular trading method.

Trading Challenges

Adventurous Traders may sometimes be prone to assuming too much risk. They can also be subject to neglecting to analyze themselves appropriately in order to address and correct their own trading mistakes.

Following trading plans closely can also be somewhat challenging to an Adventurous Trader. In addition, a tendency toward a lack of discipline may be a major obstacle for them to overcome.

Nevertheless, many successful traders fall into the Adventurous Trader psychological profile.