Thank you for your kind comments there @CavaliereVerde …
I would describe myself as passionate and hard-working…
Whether that translates to skill or not is a function of perception… during my drawdowns, I would likely not be perceived to have skill, but during profitable rallies, I would.
Perception of skill is mean-reverting at best…
In my humble opinion, it is important to have a solid work ethic in any discipline anyone wishes to pursue.
Trading is just one such discipline.
Skill is a by-product of practice -> the more of anything you do in a smart evolving manner, the more comfortable you become with it as time goes on.
Like riding a bicycle, or doing linear algebra… (seriously)
Education can often be too broad to help anyone do anything in practice…
What’s important is “focused” education in specific areas that matter, that will help people with specific objectives (e.g. are you a Quant or a Technical Analyst? -> different learning paths).
Without common sense, none of the above can help anyone
One of the issues faced by a lot of traders, is the illusion that a trading strategy should e.g. last forever if it really has alpha to exploit, and that “optimization” can assist in “adapting” such edge to the market’s dynamics.
This way of thinking is the cause of much distress for many traders when it comes to strategy research, e.g. in backtesting.
For example, none of my trading strategies use “timeframes” to construct data series.
This is because as a Quant, my perspective on “data arrival” is different to that of a Technical Analyst’s.
I don’t for instance, believe in the validity of time-bucketed data series as they don’t exhibit statistical properties that render them reliable to include in my research.
The above is an example of “common sense” that I refer to… for ME it makes no sense to do so… BUT only in my world of non technical analysis…
In someone else’s world of say Technical or Fundamental Analysis, I would be the one who has it completely wrong and the other person would be completely right
Above all, work ethic is more important than anything else.
If we truly believe we can improve ourselves, we must put in the effort on a personal level first -> and it will trickle down into our professional pursuits.
My daily work ethic looks like this for example:
I start my day with 30 minutes of meditation.
I then cycle between 10 and 70km every day to and from the Darwinex office, depending on how tired I am from the previous day…
I spend 2 hours locked away from the rest of my world, learning something new or improving something I already know and would like to master better -> this could be trading related or otherwise.
I end my day with 30 minutes of meditation before going to bed.
The rest of my time is split between family, work and sleep.
If I didn’t do this regularly (and I often fall off the wagon… life throws curve balls in terms of time and circumstance for everyone) then I would go crazy… so I try my best to maintain it, and that helps me evolve over time. It is specific to me, everyone will do things differently as suits them.
If more traders focused more on personal improvement before trading improvement, I would bet money that it would undoubtedly lead to improvement in trading of some form or another, not necessarily returns.
Just my $0.02 on the matter