Andrew Colbourne
Andrew C.Financial trader. Dev. Bon viveur.

Skill in trading - why don't people talk about it?

AC

Posted by Andy on 1 August 2023.

We've all seen the young #ballers at football academies talking about how "skills pay the bills" on Elon's former bird app, but for some reason, we don't see traders talking about it. The question that leaves is why? Many people try to frame trading purely as a chance-based pursuit while talking about preventing gambling-like behaviours in the next breath. To me, this is an odd notion. This isn't how people are taught in a professional environment and it shouldn't be how people learn if they choose to take up trading in their own time. Wouldn't it be better if you could learn a set of tactics and abilities that work consistently and that can be adjusted periodically when needed, rather than having what people refer to as an "edge" that can mysteriously disappear after a period of time?

One thing that I find bizarre is this idea that you should come off the demo as soon as you possibly can regardless of the circumstances. Anyone who says that is, for me, missing the point entirely. Yes, when risking real capital, you can experience the "emotional rollercoaster" as I've seen it eloquently put on brokers' websites, but on the other hand, you never hear them speak of using the demo to develop things like good entry logic, consistent clip management, reading an auction, following a correlation block and so on. These things are best learned and perfected on a demo account (and they're also great tools for driving your B-booking broker mad).

Once you can manage a trade using a set of consistent techniques that could be applied in multiple situations, you should then go live gradually. Developing skill over time builds great confidence and understanding; two things that are infinitely better than having a "system" as people talk about, and two things that will be huge parts of any success you could derive from a live situation.

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