Online Trading Style – Gambler-Impulsive

January 5, 2010

This trading type likes to be where the action is. They tend to be emotionally driven, following their impulses and passions more than their thinking. Because of this, sometimes they exercise poor judgment, letting their desires of the moment lead them into hasty action.

Personality

They view the world as a glittering playground, with all things new and shiny competing to attract their attention. They are the proverbial kids in the candy store. When something does attract them, they may be passionate in following it. This may lead to overindulgence, or at worst, dependence or addiction. But kept in check, it just keeps them passionate about their interests.

Because they are impulsive, they make more than their share of poor choices. Often they may later feel sorry about the consequences of these choices. But interest and passion¡ªnot clear thinking¡ªtend to pull them along.

So, for example, the color and speed of a car they see on the road make them want to buy it, while the obsessive carefully studies Consumer Reports and various car magazines. At the races, the jockey’s colors or the name of the horse make them want to bet on it, while the obsessive is analyzing the horse’s past performance from the daily racing form.

They are more interested in hunches, good luck, tips, and random coincidences than the other trading styles. They tend to focus on the surface of things rather than take the time to discover the deeper essence. Why? Because, getting bored easily, they don’t have the patience or interest to hang around long enough to dig deeper.

Possible Addictive Problems

They may have (or have had) addictive problems in their lives, either to work, food, sex, drugs, alcohol, or sports betting. They regret many of the impulsive risks they take when they don’t turn out as they hoped. Usually, however, not quite enough to actually change their behavior, unless pressured by others or by catastrophic downfall.

They are the most willing of all the trading types to take chances with their physical and relationship safety, enjoying the adrenaline rush that comes with high risk. They feel most alive when danger and intrigue are part of the equation. They may challenge themselves by driving fast on a race track, climbing high and rugged mountains, or skiing down the advanced run to prove their skill.

In relationships, marital infidelity is more common with the gambling type. Because impulses are so powerful in guiding their behavior, it is more difficult for them to listen to the voice of reason, morals, and self-restraint. Of course, this does not mean all gambler trading types are this way¡ªonly more likely to be involved in marital infidelity than other trading types.

For this type, the distinction between reasonable risk that is adventurous and crossing over the line into foolhardy indulgence is often lost. In fact, they will misperceive and mislabel foolhardy risks as reasonable. And then they will believe their misperception.

In other words, they do the opposite of the doubter-timid type¡ªthey err in underestimating the actual risk involved in following their impulses, as well as the severity of the consequences.

Having a gambling-impulsive trading style is simply a reflection of their view of life itself as the Big Gamble.

“Anything can happen at any time¡ªI might as well follow my tastes, preferences, and go for all the gusto I can!” Or: “You’re gonna die of something anyhow¡ªI might as well enjoy it while I’m here.” That is how they might describe their philosophy of life. By God, nobody’s going to tell them whether to smoke, eat steak, or to have a dessert after dinner!

On the positive side, they are open to a wider variety of experiences than the more conservative types. From different foods, to foreign travel, to multiple viewpoints, they tend to be more accommodating to the novel and strange. This makes for flexibility to change and openness to new experiences. Often this type is flamboyant, charismatic, and enjoys a measure of popularity with others.

Because of their risk-taking nature, they may strike it rich through a start-up business or willingness to take a chance on a new venture that promises big returns. They are open to adventure and while this means some exciting experiences in their lives, it also means a higher chance of catastrophe.

These people are often colorful, exciting to be around, and occupy the role of exotic parrots in the menagerie compared to the typical, everyday human birds.