You’re probably mostly right on this one. But…
Traders get it right away: hypothetical P/L from “simulated” paper strategies doesn’t count. Performance=actual.
It’s easy to make this statement when you don’t define what “actual” is. As one who is always calling out charlatanism, you should know better than to use ill-defined terms — that’s what charlatans do. The point I’m getting at is some bad traders using unsound principles get lucky and some good traders using sound principles get unlucky.
To do well in life you need depth and ability to select your own problems and to think independently.
Again, what does it even mean to “do well in life?” Conventionally, some people do well with nothing more than a large inheritance.