"An impostor is one who must deny reality to maintain a false sense of self. Flip sides of the same coin are those who cannot accept criticism and those who cannot accept praise; those who cannot accept a loss, and those who cannot tolerate a gain.

Most traders are more willing to discuss their psychological problems than their trading shortcomings, not because they fear revealing proprietary information, but because they fear revealing that they have nothing proprietary to share.

Researchers at the London Business School found that traders who felt most confident in their ability to predict outcomes in a random task had the worst trading outcomes. They termed this phenomenon 'illusion of control,' and I suspect it's the psychological basis for many a trading impostor."