General approach Paraphrasing Ray Dalio's handbook for Bridgewater employees:- "What do I want to achieve? What is true? What should be done?" Study your field until you are informed enough to make sensible assumptions. For example, an excellent thread on the importance of understanding why a trading strategy should make money before investing effort in working out how it will make money: http://www.elitetrader.com/et/index.php?threads/why-strategies-make-money.287837/ Test these assumptions until you have a set of axioms. (perhaps we cannot always know what is true to a mathematical standard of proof, but can reach a standard of scientific certainty with observation, testing, and conformance of hypothesis to previously accepted fundamentals). For each axiom, ask if a fundamental rule or principal is necessarily implied by it. Then devise your detailed procedures to reach your goals. For each of your rules/principals, check that it is accurately reflected in your procedures. Refine and test. Realistic goals Forget "trading for a living". You will likely either be a net loser or make minimum high six figures as a successful independent trader. Use your common sense and be honest with yourself about what you need to bring to the table in order to justify this remuneration in any business. And remember that trading attracts the best and brightest problem solvers due to the compensation and often freedom which accompanies success. You will need to be correctly capitalised and will likely be at a speed and fee disadvantage, at least initially. Mathematical literacy Essential. See e.g. data dredging Learning from other fields There is value to be had in studying e.g:- -formal software development processes -medical procedures -civil aviation -psychology (working memory, cognitive biases, formal research - not Internet woo about emotions and discipline) Daniel Kahneman's "Thinking, Fast and Slow" is an excellent primer on cognitive biases. Papers such as Miller's "The Magical Number Seven, Plus or Minus Two" might help you decide how to present market information to yourself for manual trading given the limitations of working memory. A general principal appears to be that the more fields one studies, the more relationships one perceives. Start building these mental connections early. Games and sport You can learn about yourself and how you make decisions. And how others make decisions. Develop ability to remain calm under pressure. Investigate German board games, proposition bets, poker, logic puzzles, brain training websites, Starcraft, etc. Time how long it takes to beat this simple game (credit Rearden Metal for linking it): http://www.simeonmagic.com/gemstonegame/nim1.htm Bridging areas of weakness A frank self assessment is helpful here. It may be that there are some tasks you can delegate. Expertise you can hire. For support functions and bridging of specific weaknesses. However if you don't have (m)any of the relevant strengths you would be better off elsewhere. This includes the savvy to perceive which skills are relevant. Credible information about the industry Can be difficult for outsiders to acquire. Most of what is written by or for the public is nonsense or misleading. For finance in general, primers on investment banking, career resources: search Wall Street Oasis, Wall Street Playboys. On ET, I've found posters garachen, hft, and nokomisjeff to be credible, thorough, knowledgeable, and generous. Contacts Be creative and audacious (yet respectful). I'm continually surprised and humbled by the generosity of very successful industry practitioners who have given me the benefit of their hard won expertise, offered advice, and answered questions. I wouldn't be where I am today without them. The Internet is a great resource. Study successful people and try to provide value. Good advice for young ambitious people is to find a mentor about 10 years older than you in a field you are interested in. If you're in university studying for a relevant degree or live in (or can move to) London, NY, Chi; don't miss the opportunity to network and connect with people in the industry. Avoid Mainstream media Negative attitudes to success, finance (e.g. mainstream media) Indiscriminate browsing of Internet forums relating to finance/trading Internet gurus Trading journals Trading education providers Losers Time wasting Gambling Wishing a successful year to all who are able and willing to earn it.