tumby wrote: ↑Fri May 14, 2021 11:00 am
Turns out my system needed volume and I was just starting in the wrong market.
Well done, I feel that's an important part that warranted commenting on
Matching the right strategy to the right market etc goes without saying, possibly matching your mentality to the right approach, but for me most importantly matching your existing skillset to the right market/approach as well, which is something I'm still transitioning through as well (although mostly due to lack of effort on my part). But this work/transition is probably never done anyway, if you keep building up your skillset and adding to it over time then ideally you're going to do some market hopping.
IMHO always a good idea to explore different markets, like you've done there, since things you learn in a new market can deepen your understanding on your previous market and help put the bigger picture together quicker, even if the markets are seemingly unrelated. That being said however, going far too wide is not too sensible either since it obviously comes at the cost of "narrow specialization" and "specialist knowledge" which I'd say is an absolute must in order to penetrate that initial bubble of so-called market efficiency.
So when struggling it's probably worth taking a little step back to objectively see if your approach could be better applied elsewhere and to see if your skills are objectively better suited elsewhere.
And whether you should be focusing on maximizing your strengths or actively working on your biggest weaknesses is probably too big of a topic, but I'd lean towards the strengths part since you do have a chance to create something special that way, instead of just getting your weaknesses up to the average levels, although the weaknesses obviously do have to be at a certain minimum level to not drag the whole thing down and ruin it.