Personality and Attitude: Killing Your Profits?

Recently I see an interesting blog post via a tweet, which lead me to creating this post.

Here was the original tweet:

betfair trading attitude

Influence on Your Results?

The original post is certainly definitely worth reading once you’re done here…

On reflection, Mark highlights a key point that many don’t often take into consideration when starting to trade Betfair;

“Society often adopts certain views, that don’t fit with trading”

It’s not often well-documented online, but everyone has a unique set of expectations, usually framed in terms of hourly and daily rates of pay. However, trading doesn’t always conform to these expectations.

Looking at Mark’s results graph—and I hope he doesn’t mind me using him as an example—he appears to experience higher peaks and troughs than I do. This variance might simply be due to the nature of the markets he trades. I’m aware that other traders who engage in pre-race horse trading exhibit similar patterns of significant wins and losses. It’s a personal aspect of how one trades.

Having such variance isn’t necessarily problematic, as the end results may be similar to someone who wins more consistently. But the crucial question is: how would it make you feel?

Not everyone reacts the same way to risk. Personally, I dislike taking too much risk; those big losses would be detrimental to my peace of mind. What’s most fascinating is how these trading patterns can alter your personality or attitude toward trading.

In My Experience:

During my time trading, it’s fair to say that my personality and attitude have changed substantially. Many traders on various forums are aware of this transformation, but it often gets quickly dismissed—perhaps it shouldn’t.

I believe that no approach to trading is inherently wrong, as everyone copes with the pressures differently.

For me, enduring the extreme highs and lows on a daily basis isn’t sustainable, even if I knew I’d be a net winner over the long term. It just doesn’t suit my temperament.

What I’m trying to express is that trading isn’t just about understanding the markets and processing the myriad of information available. It’s equally important to understand yourself and how you fit into the trading world.

Knowing what strategies work best for you, what you excel at, and what you struggle with can greatly enhance your effectiveness. Recognizing your strengths and weaknesses allows you to channel your efforts more productively and adapt your trading style accordingly.

For Example:

If you are good at swing trading and poor at scalping you can up your stakes for swing trading to make more money. Reducing them when scalping to avoid losing would be a good idea too. The whole time you still get the benefit and opportunity to learn and improve.

I don’t think it’s a case of one type of person can succeed and another can’t either, but more a case of where one can excel comfortably.

Now, that is going to be a lot easier said than done, its one thing I can guarantee you!

Take some time to learn a little about yourself. I really wouldn’t be surprised if it pays you back for your time, and some…

Here is a simple personality test I took some time ago. It would be interesting to hear readers results too!

PERSONALITY TEST Take the test now!

I wouldn’t be too surprised if there was a trend in the results between those that are already successful.

My result was INTJ, let us know your result in the comments!

P.S. I’m off to Magaluf tonight, due back Thursday in-case you’ve emailed me and I haven’t responded as quick as I would usually!!

Related Post: Overcoming Your Trading Fears

7 thoughts on “Personality and Attitude: Killing Your Profits?

  1. Hi Caan,

    Thanks for highlighting my post.

    Just thought I’d explain that the reason behind there being quite a big swing in monthly profits is that the cricket markets I trade can be seasonal and often revolve around big tournaments. Naturally, if a month contains one of these I’d expect a good return and if it’s a quieter month the opposite.

    I won;t go looking for markets to trade to make up my returns if they are outside my specialty if that makes sense.

    Anyway, best regards and enjoy Magaluf.


  2. Just made the personality test and I’m ENFP, by the description I should be a movie producer 🙂 and I don’t really have the qualities to be a trader. I also made the test to my gf and the compatibility test between us is really accurate. I’m not too concerned because my personality changed a lot since I began trading, all I need to do is to reduce the risk to be able to enjoy trading more.
    About the results, mine should be the same every month. Probably because I prefer scalping and the losses are easier to keep under control.
    All the best,


  3. Hi Caan,

    Mark’s article highlights something I fell foul of last year. Having at last established a miniscule edge, I felt restless when profits apparently “fell off”. I tried scalping and swing trading, but found that I still only had a 20% strike rate, the resultant loss, race after race, led me to commit the cardinal sin, not once or twice, until I finally wrecked my bank. In my opinion you’re absolutely right, it is a key concept. Last month was terrible, for me, and this month has started poorly, as well. Luckily, I know that my edge is good and I no longer have the urge to desperately search for something else.

    I took the personality test and it came up Introvert (89%), Sensing (39%), Feeling (12%), Judging (33%) which didn’t surprise me, being brought up in a remote Dales village during the austerity years. I suppose that, that background, where it was essential to “do the right things” simply to survive, naturally leads to my disappointment in books like Trading in the Zone, in which the author presents, as revelations, things which to us were and are, blindingly obvious. As an aside, I’m far more impressed with Brett N. Steenbarger’s, Enhancing Trader Performance. It might be worth a read (if you haven’t already) you can download it free, or at least you could. If you can’t, I ought to be able to put a file on one of those accessible on-line file storage things.

    I hope that the break refreshes you, just don’t get alcohol poisoning,

    cheers, Predicton

  4. My score is ENTJ and INTJ because I appear to have marginal or no (1%) preference of Extraversion over Introversion. I am strongly considering to start betfair trading and kind of on the edge to make a final step and start it. Been following you for a while, reading your articles. I really want to learn and become as good as you hopefully some day.

  5. Hi, I will buy your guide when I’ve got some money, I don’t trade at the moment, but want to one day.
    I’m INFP, so what does that say about the best way for me to trade I wonder. thanks

  6. Hia Caan. I’m completely new in trading and to be honest I’m at the stage of reading books instead of trading yet (maybe because set myself time out till 4.02 due loses on spoort book)

    Wondering if trading is something for me and after watching your videos on youtube I may have a try.

    Just done your personality check and looks like I’m INTJ

    Introvert(3%)  iNtuitive(12%)  Thinking(41%) Judging(19%)

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