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 tradersPreparing 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.