The reason I’m asking is that I’m quite surprised by the number of people blindly trading other people’s systems without their own backtesting or research. If someone posts a free system, you’ll see lots of individuals “forward-testing” the system with live accounts, simply on the promise of “guaranteed good pips” and unverified numbers. In the beginning I thought that trading would usually attract intellectually-analytical types (people who love observing or solving puzzles), but now I think I am wrong!
I would say that the successful retail trader is above average intelligence to the population. assuming retail (day trader) here not someone who just picks some funds and etfs for his 401k and leaves it. that’s how figured the question.
You didn’t have an option for ‘Genuis’ in your poll so I had to vote ‘Bright’!!! LOL!!!
Not to (as usual) ‘upset’ anyone: but I don’t think that intelligence has anything to do with it. As a matter of fact: the ‘dumber’ a trader is the better in my opinion and the more profitable they will be given a good and solid and sound technical trading system. Why??? Because the ‘brighter’ (or in my case the more of a ‘genuis’) you are: you ‘overthink’ and ‘overanalyse’ things as opposed to JUST FOLLOWING A SIMPLE SET OF TRADING RULES WITHOUT QUESTION OR EMOTION!!!
Alright: knowing how to string a few words together into a coherent sentence is a ‘must have’ and knowing how to turn on a PC and open a chart is also a great help. But I assure you that not MUCH more is needed!!! LOL!!!
Regards,
Dale.
The problem is with a lot of traders is that they are naive, just like in Local Government where I used to work, you’d see highly ‘qualified’ people doing the dumbest thing, because they just didn’t have the common sense and experience to realise what was what, and so many cases of The Emperor’s Clothes to count. I’d occasionally have my idea’s laughed at, only to find that similar things were implemented in the most forward thinking and successful councils.
But to answer your question, you do need a minimum level of intelligence to understand the mechanics, but personally I’m not a fan the term ‘intelligence’ used in this context, it’s a very general term and method to identify one’s capabilities, while an aptitude to a certain subject is a much better gauge, and most certainly intelligence does not equal success, very much the opposite quite often.
Pretty impossible to answer this question. Do you mean successful traders, people who have attempted trading over a certain period of time? Or just anyone who has had a go? It seems, going by the anecdotal evidence, that many people try this and then burn the account and move on with their lives. Some of those will have underestimated the challenge, not be up to it and that will be the reason that they failed, but do we count them as traders? I am sure that some people fail because they are not very bright, but to lump them in with people who take it rather more seriously doesn’t really give a useful poll result, imho. Like anything in life, lots of different people will have a go, some will succeed and some will fail, for reasons including but not exclusive to intellect. I’m not sure that this poll can really reflect a useful opinion on that, personally.
ST
As an addendum to all the previous responses, I think the important point to highlight is: anyone can be successful in trading: intelligent or not intelligent. Similarily, anyone can also not end up being successful. I have a friend who has a first class degree from Oxford University and a pretty sharp person and after one year of trading, lost £7k. He gave it up and now works for a large corporation. I asked him what went wrong and he said he couldn’t control his emotions, started off very profitable then got greedy then lost it all plus more. Luckily he had the common sense to stop before it became an addiction.
This. Check the forums at night if any of you need verification of this. Lambs to slaughter.
Mint Sauce anyone?
below average.
Ohhh… He’s back!!! LOL!!!
Has FOREX found you any girls yet???
LOL!!!
Regards,
Dale.
traders are just from common people, most of them are not special, just like others.
Speak for yourself 
Where is the question? The average intelligence is average, no matter if traders, butchers or aliens. 
I second THAT statement!!! LOL!!!
Regards,
Dale.
Personal discipline and patience are more important then intelligence. I would rather be a patient, disciplined trader with a slightly lower intelligence level, then a brilliant trader with no patience or discipline.
Its gonna be a bell curve like everything else. Your trying to equate intelligence with personal flaws, the more intelligent you are doesnt not mean the less flaws you have. People are generally overly optimistic about their outcomes, and do not tend to reflect and backtest and do all the tedious things that it requires to be good-great at most things.
No need to be smart. In fact, it may be a handicap. Smart people always try to be one step ahead. In this game, you just need to be IN step.
Slightly dull, but observant, disciplined, and habitual would work just fine.