#31 Paul Wallace - From Air Force Fighter Controller to Trader

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.