In this week’s episode we are in conversation with Paul Wallace. Paul is a private UK based trader, who taught himself trading after getting attracted to internet stocks in the early 2000s.
Prior to that Paul was a fighter controller in the Royal Air Force, and today, as well as working as a trader, and training and coaching other traders, Paul also runs a programme called The Veterans’ Trader Project (VTP) which provides introductory training for ex-forces personnel looking to move into a new career.
Paul brought with him some fascinating insights and perspectives. And this conversation veered into some surprising directions, including touching upon themes about:
- What is needed to succeed as a trader.
- The delusion many traders suffer about how easy it is to be a trader.
- Embracing the pain of losing traders to allow you to grow as a trader.
- The mistaken belief of new traders, that trading systems are a form of ATM.
- Data Scientist v Traders as system builders.
- How operating under ambiguity is a shared skill-set of military personnel and great traders
- Preparing mentally for the battle of trading.
- Improving and developing exceptional performance.
- Decision-making under uncertainty.
- Learning from your trains.
- Being a fear-based trader.
- Process, Discipline and Self-awareness.
- The art and science of trading and getting into flow.
- Building a trading checklist.
And many other topics and themes.
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