Just a friendly little note.. I'm certain this isn't off topic and a relevant vertical, but I'm missing an appropriate forum category for it so whatever.. off-topic it is
If we compare the conversations on this forum today to those from maybe two years ago, it's amazing to see how much we've grown professionally as a community.
Today we have people:
1) Dissecting investment attributes,
2) Critically thinking about and drafting credible weights "within" investment attributes,
3) Sharing valuable intelligence and feedback on how to improve investability and survival:
- stabilizing underlying VaR
- optimizing capacity
- attribute-driven entries and exits, to name a few..
4) Discussing portfolio creation strategies,
5) Understanding (by seeing for themselves) how divergence evolves with AuM, motivating the need to protect IP and why Darwinex does what it does to protect it.
One of the most impressive things I've seen is the growth in the number of traders/investors who by simply looking at a DARWIN's returns, can tread with caution and not get sucked into equity curve smoothness syndrome that plagues a world of traders much larger than our community here.
This is a huge development, and sets this community apart from the masses in ways infinitely more than one.
However (yes, here it is, took me long enough... I am known to babble a fair bit as my colleagues in Darwinex will certainly attest to any day):
I think it's important that we take it upon ourselves to be humble not just during the bad times, but also during good times..
..no wait, especially during good times.
Euphoria is an interesting beast..
For instance, it has the ability to turn soft-spoken enthusiasts into loud know-it-alls, a tendency I find is extremely positively correlated with the evolution of their returns..
(In fact, I often think about how to model this behaviour quantitatively.. could prove to be a most interesting study)
Experience (both good and bad) is a double-edged sword..
We can do great things with it having the benefit of hindsight as far as major avoidable mistakes are concerned.
But it also has the tendency to make us stubborn..
Stubbornness that manifests itself in the forms of:
Coming up with ideas that require extensive proof-of-concept to be accepted, but discussing them in a manner that belittles the attempts of any critics to provide a perspective the author may have missed, technical or philosophical.
Promoting one's profile through words and not actions, for example:
You've got far better chances of demonstrating authority over your subject (this could be anything) and credibility in your trading abilities, if you attach a track record to it instead of using the Description space on your profile to push a few double-digit years of experience.
Use it instead to shed light on your background, give people a more real view of your existence and how trading is a part of it.
This applies especially so if you have gone from being a regular person like anyone else, to a very successful DARWIN provider most likely considering it a full-time pursuit. The fruits of your labour shine through so much more with humility leading your pitch than anything else ever will.
If you have a trading idea that is 2 months old (in DARWIN months), bring it upon yourself to exercise restraint and patiently build your track record.. preferably before informing others of the awesomeness of your idea and why it would be a mistake to not invest in it.
Don't just post regularly during your highs, do it just as often during your lows.
Learn from the incredible examples set by traders like @VolcanoFX and @CavaliereVerde who have consistently proven the importance and effectiveness of this approach in their tenure here.
Learn humility from masters like @KlondikeFX who has the longest successful track record in Darwinex history and yet one of the most humble attitudes to both trading and others in this community he is a part of since the beginning.
Always be humble.. never assume you know more or better than anyone else, regardless of the length of your track record or your cumulative experience in trading or anything else.
Because the fact of the matter is:
Your strategy - if successful - has modeled an inefficiency to some extent that permits you to extract some profit from the market.
The bigger you grow in terms of risk capital and/or AuM, and of course due to external factors beyond your control, this inefficiency will at some point attempt to become efficient.
When such a time comes, it is your humility that will have helped you avoid becoming stubborn to realities other than your own, to make more friends to advise you along the way, and to guide you in your attempts to recover from the market becoming efficient in thwarting your quest for alpha.
It's also equally likely that humility will have helped you get quality feedback from quality people over time, helping you engineer solutions to slow down and adapt to, if not thwart the market's attempts at becoming efficient against your target inefficiency.
Moral of the story:
Be humble, be grateful for what you've achieved so far and for being a part of this amazing community of people first, traders second.
Humility makes friends -> friends become assets -> assets strengthen resolve -> resolve gets results.
End of blurb... promise
Have a great week everyone