as far as tricking quality wouldn't prevent you from doing the tricks, it's just more likely to break probably (though if you try to trick on a high quality bike meant for racing, you're probably more likely to **** **** up).

honestly your bike is fine. I generally think that one should drop coin on the contact points first. so saddle, grips/tape (and right size handlebars, doesn't matter if they're heavy if money is tight), and pedal set up (including straps, clips aren't terribly important as long as they're sized right). your mks pedals are good (if they're comfortable to you. bearing quality is fine), people seem satisfied with pake straps (i've never used them). I'd upgrade the saddle, but if you're not feeling numb or sore it's probably not important. risers are risers and grips are cheap.

next i'd do tires. I ride randos now for puncture resistance and they work well in the wet (oh and skidz), they're also reasonably priced. if your'e gonna be tricking then you'll want to fit at least 28s like the randos, bigger being better. a bigger tire will be able to absorb the shock of landing and reduce fatigue on your wheels and frame. the higher rolling resistance and low tpi will also generally make then not as fast as a skinny tire. for a fast tire i liked my zaffiro pro.

that should get you riding fine. after that i'd upgrade as things break. that will likely be your bearing items (which upgraded components will lend to a smoother feeling ride, or something to that effect). hubs (so wheelset), bb, headset. seatpost, cranks, and stem, if currently sized right, are really not necessary to upgrade. any extra money spent would just be for shaving weight or aesthetics. if you're just going for shaving weight, the best place is your wheels. change frames if you want different geometry, if this one doesn't fit, or if you want something lighter.