Not to go off topic if it ends up being that way..
But on the subject of skilled traders, I’d like to add a little tidbit if I may..
From my own experience - not to be taken as anything but one person’s experience, and hence limited by definition, regardless of the amount of time he may or may not have spent in the field.
A trader is as “skilled” as the last time he was able to successfully “continue” extracting alpha from the same source -> a.k.a. her or his existing trading strategy, for instance.
The best skill you can acquire as a trader is the ability to measure (preferably probabilistically, since there are more than a few statisticians on this thread from what I can see), whether that source is still worthy of tapping.
This has perhaps been my biggest challenge over time, one that my own personal approach towards, is purely Bayesian. Others will differ in theirs, and that’s the nature of things.
The moral of the story is:
Accept that one’s skill isn’t just in generating decent returns, it’s in estimating the continued existence of the “ability” to do so, independent of time.. in achieving consistency along the way while the well hasn’t dried up.
In doing so, we become more humble to reality -> that we are participants in a market where alpha without a shadow of a doubt reverts to new levels above or below those desired, at some point or the other, unless you adapt.
And if we should focus on building a skill set at all, it is this, humility and acceptance that we are mere cells from a drop in the financial ocean.
The most skilled traders among us will observe these behaviours, and adapt accordingly, and it is they who will attract the most AuM over time - their results over time, from adaptive alpha will speak for themselves.
And we have plenty of those in the Hall of Fame.
So let’s take a little pressure off ourselves.. and be more humble to our own realities.
Consistency speaks volumes compared to anything else in this line of work.
Regularity is only one metric among many at Darwinex, that helps traders think this way.