1. Convexity - selling optionality in any form, prob 20% return. you can do much better with less burnout
2. Edge - position size and places you traffic in institutions wont. For example, institutions market make mid cap options and get 20% a year return. Retial can take directional views with convex payouts and make 1,000%
3. Risk Management - basiclaly, Kelly betting. Too big, you go bankrupt. Too small, you are wasting your time.