1/ The illusion of alpha

Arguably the biggest way I've seen good traders burn out is the never ending search for a unique edge in the market

But what if I told you that 95% of the time, alpha is an illusion. And furthermore, most traders look for it in the wrong places 2/ To further define illusionary alpha vs real alpha

real: arbitrage, MEV, mempool bots, exploiting inefficient marketmakers, to name a few

illusionary: order flow, TA, footprint, indicators, etc

95% of traders focus on "illusionary" alpha, so I'll focus this thread on that