Traders, What’s In Your Probability Stack?

A few years back, I read Dilbert Guy Scott Adams’s book How to Fail at Almost Everything and Still Win Big. It popularized the concept of the “talent stack”.  Adams asserts that you don’t have to have world class skills to be successful in life, you just need to acquire adequate competence in a few complimentary skills.

How does this relate to trading? Every successful trader I know possesses a “talent stack” of skills he or she has honed over years in the markets. Some of these are life skills like self discipline or attention to detail — things which might apply to any career. But others are trading specific, understanding of technical methods or techniques which guide their trading. These market-specific skills are what I can one’s probability stack. Continue reading “Traders, What’s In Your Probability Stack?”