I think that most of the really successful traders are both very intelligent and very well educated. That's because in our culture, intelligent people seek more education, get scholarships, etc. Another consideration here is that we all know that to succeed in trading, one needs discipline as well as intelligence. This relationship strengthens the argument that good traders are well educated (getting a good formal education takes a lot of discipline.) On the other hand, lots of (average or mediocre?) traders come to trading out of a (conscious or subconscious) desire to gamble. That's where I would look to see more average intellect and lower educational achievement.
There's partial truth to what you just said, however, I think most of it is a crock. I think you can be dumb as dirt and still make a good trader. My education helped me get my money to start trading, but it has not given me an edge on trading. I think the love of the game is what makes a good trader. You also have to be persistence and learn how to overcome failure, and not to get too over excited with success.
That's it. However, to go a step further, I think the great traders are the ones who start with the 2K account at IB and trade up to the 25K. Then you can really say you've arrived. Digging in the trenches and paying the dues, that's where the learning process takes place.
If you exhibit the same patience (emotion control) with your trading as you do with your elite trader whining, it becomes clear why you are subject to PDT problems.
Is intelligence important for trading? It depends on how you are defining intelligence... emotional intelligence (see http://trochim.human.cornell.edu/gallery/young/emotion.htm ) is certainly important... but raw intelligence (above a minimum level) is not necessary in my view...
From what I have noticed it all revolves around discipline. In trading you need to be able to adapt and adjust to every market condition without an inkling of hesitation or emotion. So I do not think that education is totally necessary, it can only help as long as you have the ability to make changes in your trading without a fight. I once heard from a great trader that it all just comes to him in a blur, and the second he stopped caring about every little detail is when he found his edge. So maybe it is all about simplicity but who knows?!! Comp
Putting aside whether "emotional intelligence" is important or not, I think that that so called "emotional intelligence" is hardly related to discussed topic. Yes, there is that word "intelligence". However, I think that the word "intelligence" is misused and to some extent "emotional intelligence" is oxymoron. It's kind of close to calling athletic abilities "muscle intelligence".
Speaking for myself, I'm slightly intelligent but mostly I have common sense and strong discipline. I'm a profitable trader of 3 years and I could not have made it without those 2 later attributes. BOLT