Who Should Trade, Who Shouldn't???

Another email question....

> I wanted to ask you if you think there are any group of people who should
> not take up trading at all? What about people with addictive
> personalities? I have read some articles by Dr. Van Tharpe in which he
> says certain people should not take up trading, would you agree or
> disagree with that? I know that Richard Dennis formed a group of traders
> called the Turtles on a bet with his co-worker who said traders could not
> be taught it was something that some people had and others didn't. Richard
> Dennis of course went on to prove that traders could be taught. Since
> there are a lot of emotions involved when money is at risk, it seems that
> some personalites would have a harder time that others. Thanks for your
> time.


Hello ----,

Yes, there are many people that should not take up trading, or whom will at least have a much more difficult time succeeding than others...

For instance, if you have a young family and very little savings, and hoping to earn a living quickly, then you should not trade.

If you have to borrow money to start trading, then you should not trade.

If you are bipolar, you should not trade.

If you cannot handle risks without feeling or resembling 50 women with pms or menopause all wrapped up into one person every time you place a trade, then you should not trade.

If you are a gambler, you might make the perfect trader, as long as you manage your risk and know how to let your winners run.

Yes, average traders can be taught to make a decent living and be successful in this field, but to be an exceptional trader you must have something special and a command over your emotions and risk tolerance in a way that most people will never be able to master no matter how much teaching or mentoring they receive.

All my best,
Toni