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always looking rosy. This means they will tend to hold losing positions too long, always thinking the stock will move back up. |
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Naiveté and Real-World Risk |
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The more naive optimist who has not learned the necessary lessons of real-world risk needs to be careful before committing money to individual stocks. The safest way for them to invest is by buying mutual funds online. They will often overlook all the warning signs that a company may not be good, or a situation may not be what the optimist thinks it is. |
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It is best for optimists to have a trusted and knowledgeable partner with whom to discuss investments. This may act as an important reality check to counterbalance their own overly optimistic bias. |
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The positive thing with this type is that it is not that difficult to take a confirmed optimist and temper (or "harden") him or her with the grim realities of deception and exploitation that are rampant in the investing arena. |
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When forced to face these realities, they may hold their basic positive nature but also learn to lose the naiveté and gullibility that naturally go with it. One of the behaviors that must be altered is the need to gain universal approval. As the need for approval is reduced, this type feels more able to say "no," think more independently, and be less concerned about the judgments of others. |
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Trading Type: Victim-Blamer |
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Of the various trading styles, this type is the most immature emotionally and psychologically. The gambler type always appears happier being alive than does the victim-blamer. |
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Victim-blamers interpret anything in life that does not go their way as aimed against them, believing somebody or something is working against their welfare. It may be another person, like a boss or girlfriend, or an entity, like a company or the government. It may even be outside forces, such as "bad luck," " nature," an ''evil force," or even their conception of God. |
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The victim-blamers need to find someone outside themselves to blame for things not working out or misfortune that is beyond their control. They have never learned to assume personal responsibility for their own actions rather than to blame others. |
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