As the popularity of Behavioral Finance growing up, the importance of discussing personality, behavior, and strategy on investment of investor is increasing. Scholars and financial personnel devote to designing the financial instruments which correspond to the demand of investors. Therefore many relative pieces of research come out. Personality is a common variable on research and usually could explain personal behavior or effects. The research focuses on Machiavellianism, one of personality, and discusses the relationship between Machiavellianism and risk propensity on investment. To make the results more real, the research also adds Motivation effect variables and demographic variables. There are valid 340 copies selected. According to these results, this research will provide some suggestions to academics and practitioners.