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The Facilitative Forex Trader is the next trader personality type in Dr. Van K. Tharp’s series on the different psychological profiles for traders.
This trader type is usually an individual that is quiet, serious, but also very sociable. The Facilitative Forex Trader can be very helpful and useful in larger groups or a team working situation because they can often boost the productivity of the other participants in the team.
Facilitative Forex Trader Qualities
Facilitative Forex traders have the ability to see the potential in people around them and to provide the inspiration to help others in fulfilling their maximum potential. This is an important leadership characteristic which facilitative traders have, and therefore these traders often become leaders when found in a group setting with other traders.
The Facilitative Trader has two of the three most important characteristics for becoming a great trader according to Van K. Tharp. These are:
Facilitative Forex Traders are also very well organized normally, which is a great habit for any trader to adopt.
Trading Strengths
The Facilitative Forex Trader has a capacity to see the big picture and to connect the different points in the big picture which in turn allows him to make good trading decisions.
As we’ve discussed many times in these article series on Dr. Van K. Tharp’s trader personality types, seeing the big picture is a crucial necessity for being and remaining profitable in the long run. Thus, this is one of the biggest trading strengths of the Facilitative Trader.
Also, working in a group is something that the facilitative trader will find more satisfying than working alone. This is another big advantage for them which is why they should strive to work in teams rather than alone.
These types of traders will also tend to naturally take on the lead role within the group and eventually become the leader.
Trading Challenges
The Facilitative Forex Trader’s superb ability in working with others may also be both an advantage and a disadvantage because trading is often a solitary activity though working in a group definitely has its advantages – especially for people who are better suited for that kind of environment like the facilitative trader.
Trading has a solitary nature to it and this can be a real challenge for facilitative traders and also anyone who prefers to work in groups over working alone.
In addition, the reality is that a lot of the competition in the trading world seeks to profit on pure arbitrage in financial markets and hence trading in a group can leave fewer dollars to be split among the participants in the team.
Furthermore, Facilitative Forex Traders very often will need to double check their trading strategies and ideas – most probably it will be with their peer-traders or people in their group.
This double-checking helps them to be more relaxed and more confident in pulling the trigger on a trade when the time comes. However, this is another trait of their highly social nature that they will probably need to work on in order to improve and become less dependent on others.
