Sunday, July 26, 2020

Scoring Your Personality Strengths Quiz

The last post offered a brief assessment of personality strengths that are relevant for the success of our trading.  If you haven't completed the assessment, please go back to that previous post and select the six adjectives that best describe you.  What follows is the scoring of the survey.

For that scoring, we will look at the 18 adjectives row by row (click on image above).  Count the number of selected items in the first row and that will be your conscientiousness score.  The number of items in the second row will be your emotional balance score.  The selected items in the next four rows will be your extroversion, openness, likeability, and entrepreneurialism scores, respectively.  

Here are the meanings of those categories:

*  Conscientiousness - Tendency to be precise, detail-oriented, responsible, and structured in your actions and decisions.  Conscientiousness correlates to some degree with a process orientation to trading.

*  Emotional Balance - Tendency to be even-keeled across situations, with few emotional extremes up or down and a general level-headedness.  Emotional balance correlates to some degree with risk prudence and an interest in solid risk-adjusted returns.

*  Extroversion - Tendency to be people-oriented, active, and oriented to doing.  Extroversion correlates to some degree with risk appetite.

*  Openness - Tendency to like novelty, including new ideas, new ways of doing things, and new activities.  Openness correlates to some degree with creativity and an interest in idea generation.

*  Likeability - Tendency to get along with others and respond to others with emotional intelligence and sensitivity.  Likeability correlates to some degree with an interest in and capacity for teamwork and networking.

*  Entrepreneurialism - Tendency to be goal-oriented, persistent, and focused on the attainment of outcomes.  Entrepreneurialism correlates to some degree with leadership and the creation of trading businesses.

The first five categories are derived from the "big five" personality traits identified in psychological research.  The category of entrepreneurialism has been studied separately and appears to be not a direct function of the big five.

Which categories have the most items in your top six?  Which ones have the least?

Please note that if none of your six top strengths fell into a particular category, it doesn't make that category a weakness.  What we're focusing on is identifying where you see your greatest strengths, particularly your top three.

The next three that you selected are not your top strengths, but you clearly see them as assets.  We can refer to these as latent strengths, as opposed to the signature strengths (your top three).  It is the blending of our strengths that creates sweet spots in our performance.  It is a failure to draw upon our strengths--or sometimes a tendency to overutilize them--that creates performance difficulties.  We will explore how to best use the information from the assessment in the next post.

Meanwhile, here is an additional exercise that can broaden the assessment:  Have a close friend, colleague, or romantic partner rate your top six strengths on the quiz.  See how their ratings are similar and different from yours.  Might it be possible that you have strengths that you don't fully appreciate?  Very often, what we see as our top strengths are not what others see as our greatest assets.  There is real information in such discrepancies.

Can we truly expect to make the most of our trading if we're not making the most of who we are?  And can we make the most of who we are if we don't understand who we are at our best?

Further Reading: