The Trader as Entrepreneur

Brett Steenbarger has a good blog post today called: The Trader as Entrepreneur: A Different Take on Trader Personality.

I thought these parts of his post particularly interesting:

quote:

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...the best traders I've known have developed networks for information, batting around ideas, and social support...

...Even the solo trader operating from home now benefits from a host of Web 2.0 resources, from forums/chat rooms to blogs to social investing sites that encourage sharing of ideas...

...successful traders I've worked with often spend a good amount of time in the markets before they settle on the specific markets and trading styles that provide them with long-term success...

...find a creative way of viewing markets and trading that provide them with an edge. They love trading and often continue trading long after there is financial need...

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I think that the second point that I quoted is particularly important. I find that when reading posts on this forum (anywhere on the web really) I will see traders making statements about what works for them. Irrelevant of whether or not the statement is true it always gets me thinking about why that strategy would work and what I would look out for to test it or check its validity.

A spark of an idea from one person will lead to another and finally you'll come up with a trading strategy or plan. Often they don't pan out but every now and then you'll find a gem.