In investing, when I hear the word "conviction" I run like a deer. All the biggest financial collapses in history where caused by smart people with conviction.
I would bet on a person with average intelligence that respects risk over a genius with conviction any day of the week.
My 6 key trading rules
1. Wait in cash for proper setups. How long? As long as it takes!
2. Always trade with a stop loss; keep all losses small
3. Never get bold when running cold
4. Nail down decent profits
5. Never let a good size gain turn into a loss
6. Never add to losers
When facing difficulty, the average trader looks for a new indicator, reads more books and tries new styles and techniques in search of a better way. But all this does is make them a little knowledgable in many areas and a master of none. There is no turnkey greatness.