From reading all those interviews, two other points also recur time and time again:
- A lot of those traders struggled initially, mainly through poor risk control and/or emotional indiscipline;
- They had the sense to learn from their mistakes and make the necessary changes.
"A losing trader can do little to transform himself into a winning trader. A losing trader is not going to want to transform himself. That's the kind of thing winning traders do." - Ed Seykota
It is very easy for a trader to turn a winning method into a losing one by either having poor risk management or a poor mindset. Yet the vast majority of traders solely focus on the other element, of entries and exits, often to their detriment.
This is why a lot of people say that, if anything, the method you choose of selecting entries and exits is the least important element of your overall trading plan. Yes, whatever method you choose needs to be able to have positive expectancy, but to succeed you HAVE to have proper risk control, and the right mindset. Without them, you won't get the results you desire.