The Supportive Trader

The Supportive Trader ranks among the three psychological trading profile types developed by Van K. Tharp that need to do extra work or have someone else trade their money for the best results.

The other two trading profiles who can benefit from outside help are the Artistic Trader and the Fun Loving Trader.

Despite having to do additional work to get ahead as traders, Supportive Traders often find their fortunes can be used to back up other traders who need financial help.

By working together in a trading community or working as an investor facilitating other traders, Supportive Traders can still profit from trading the forex market.

Supportive Trader Qualities

Supportive Traders tend to be dependable, serious and insightful about their trading, but they do not possess any of the three core qualities of top traders. Nevertheless their inherent strengths can still help them succeed as traders.

As a result, people who have this psychological makeup tend to work better with other people pulling the trigger for them instead of analyzing data and using trading systems on their own. 

While Supportive Traders might do better by finding a good money manager, if they commit to making some major changes in their approach to trading the market and have the discipline to keep to a good trading system, they too might eventually find success as traders.

Trading Strengths

Dependability and seriousness make up some of the assets that the Supportive Trader personality would find useful in their trading endeavors. In addition, their creativity and insight can be big plusses when trading the market.

Working with a team of other Supportive Traders with similar goals and interests would tend to make this personality feel more at home than trading independently would. Also, working with a clear and concise trading system with a focus on risk management would tend to suit this personality best.

Trading Challenges

The Supportive Trader personality type tends to have an aversion to risk and often experiences trouble when taking trades which might be considered socially adverse. Overall, these challenges could significantly impede their ability to trade successfully, if at all.

In addition, this type of trader might have a problem understanding some of the more demanding market concepts, as well as difficulty coming up with low risk trading ideas that offer interesting returns.