Day Trading: The 2 Stages of a Trader's Career and "The Quest"

Hi, Brian McAvoy here. Today we're going to talk about something that a lot of traders don't necessarily give a lot of thought. I mean, it's really easy to, you know, just stay stuck in the mode where it's like, you know, man, I just want to get profitable. I just want to get profitable. I'm tired of, you know, not making money. I just want to get profitable. And so it's really easy to get kind of consumed by that. And, and so it's really important that you understand getting profitable, really. I mean, well, it's your immediate objective. It's not your long term objective. A lot of times, by focusing on the next objective, it'll actually mentally help you process through and resolve the first objective, which is really cool. And one thing just in general that I want to help everybody understand. And I hope you realize this is really a big deal. There are two stages or phases to a trader's career. And phase one is where you're trying to get it figured out, you're trying to get profitable. And that's the first phase. And a lot of times that includes blowing up accounts, having to refund them, going through a lot of the hard lessons. And a lot of traders, a lot of traders stay in this first stage for years. Literally. While back, I took a survey, my list, and when people came to me, I asked them, when you came to me, when you first got here, you know, how happy are you with how your trading is going? And 82.6% of them said they were not happy with their trading. 82.6%. That was after 4.6 years. Because I also asked how long they've been trading. And that was the average. There were some, you know, been only been trading, you know, two, three years. There's some been trading, you know, seven, eight, nine years, 10 years. And so that was the average. And I'm bringing this to your attention because it is so easy for a lot of time to slip by. I mean, it really is. You probably know what I'm talking about. It's like, wow, you know, yeah, whole city, you know, six months gone by, a year's gone by, and I'm still not really any closer to my goal than I want to be. And that's the first objective of getting profitable. So you have these two, these two stages. The first stage, like I said, you're just trying to get profitable. You just want to get to where you can make consistent profits. And of course, you know, that is a natural thing. But like I said, if you Focus on the second stage. If you can focus on the second stage or phase of your trading career, a lot of times that can kind of mentally help you unwind some of the stuff that's got you bunched up right now and more easily help you process the solution for, you know, getting to that first objective into the second one. Because once you hit that second phase, you know, okay, you reached the first objective, now you have other objectives to pursue. And a lot of times traders haven't even thought about it. It's like, okay, yeah, once I do get profitable, then what am I just going to like, trade? You know, try to keep making money and you know, and they have no plan whatsoever nor how they're going to manage it. And so that can sometimes in and of itself be a cause for self sabotage. So the main point about this and what's, okay, so what's the big differentiator between the free and being in the. Being stuck in the first stage and, and getting into the second stage and being able to stay there, not sabotage yourself back into the first stage comes to a lot of traders and they get profitable two, three, four, sometimes even six months, and then they sabotage themselves, boom, blow up their account and they're back at the first stage trying to figure out, hey, what the heck and how do I get profitable again? So with this one, here's the thing, here's how you bridge the two. What's in between those two is acquiring the skills so that you know how to make money trading. That means you know how to select and there's a path to it. You know how you have to know how to select a strategy that's good for you. You have to know how to properly systemize it. You know, you have to know how to properly test it out so that you can actually have confidence in it instead of just throwing money at it to find out that, okay, I can't trade with it long enough to build the confidence I need with it. So you gotta be able to prove it out. And then you also, once you've proven it out, then you also have to develop the proficiency and the confidence with it. And so that's the path to get from stage one to stage two. Because when you go through this path, you come out of it actually knowing how to make money with trading safely without having to lose a lot of money along the way. And that's the cool thing now, that little path, I call it the profit assurance method, but that's really how you do it. And that's the skill set that you need to pick up. Because understand trading has a certain skill requirement. There are things that you have to do beyond just looking at charts and placing trades. There's skills to go with this job. And so long as you're down here, you know, messing around and you don't have all the skills you need, you're going to stay stuck in stage one. Just wondering, you know, I just want to get profitable. I just want to get profitable. But the thing is, if you don't have the skills that you need, it's going to be rough and it's going to be emotional and it's going to be stressful and you're going to make a lot of mistakes and it's just how it goes because you don't have the full skill set that you need. Once you acquire that skill set, like I said, you learn that path, that skill set and you get up here now you have the skills to do this job competently and knowingly. Not just because somebody handed you a system they said they made money with, but because you now know with your own hands, you know what you're doing and you know that you're solid and you know that your system is solid. And then you get up here and man, when you get here, this is when you're in stage two and it gets easy and you're not just, you know, you're not worried about trying to figure out how to make money anymore. You're thinking about, okay, how do I expand, where do I want to go now I'm actually making money now, what do I want to do? And that's what's really cool. And so in the pursuit of getting, you know, out of stage one down here, don't chase strategies, you'll stay stuck here. Pursue skills. The skills is what's going to lift you as a trader up where now things become easy. I mean, if trading's been hard, if you've been really frustrated looking at it, and I hear this from a lot of traders and I know the experience too where you're looking at trading and you go, man, it's just, you know, it looks so simple, it's so straightforward. Why is it so freaking hard to make money? It shouldn't be this hard. It's not hard when you acquire the right skill set. It is hard if you're still lacking skills. Just like any other profession. If you wanted to try to be a lawyer or a doctor or an engineer or high level software program and you went in there and you were missing skills, it would be Rough. You have to have the skills. That's why there's schooling for those occupations. This is the schooling that you need for this occupation and it's really cool. And like I said, when you get the schooling and you get that training, the coaching, that's what makes the difference. That's when it gets easy and the light bulbs come on and you have that clarity and your emotions calm down because now you're at peace. You have that security in your system and in yourself and it's really cool. So understand you got two stages of your trading career. As long as you're in the first one, you're on the quest. You're just looking for something that works. You're looking for that magic strategy that's going to solve everything and that, you know, that psychological hack that'll help you stick to your system, you know, keep your emotions calm down. Doesn't work that way. This is a skill based profession. So get the skills. If you want to hear more about this, learn more about this. Like I said, I called the profit assurance method. What I did and what I learned, what allowed me to turn my trading around after blowing up my account and almost losing my marriage, I took what I had new in quality assurance where it's all about developing processes, where you have a solid handle on the process and you know the output out of it. That's what quality assurance is. That's one of the foundational concepts in quality assurance. When I applied it to my trading man, I. Everything changed. Everything changed. I went from chasing stuff and being a jumpy, anxious, nervous trader and, and sometimes making money, something most of the time losing money to hey, now I'm calmed down. The market can do what it wants. It can, it can make its moves and I'm not feeling like I have to chase them, like I'm missing something. And the same thing happens for all the students that I've taught this to. You just get calmed down because now you've got a handling, you've got the full skill set. That's really cool. So anyway, what you want to do. Right now I'm getting ready to launch Profit Assurance Blueprint. It's going to be releasing here very soon. You want to swing by InsideOutTrading.com and use the link down below. That'll take you to the waitlist page. You can get on the wait list and get an early notification when it comes out. And this is where you're going to learn the skill set to go from stage one to stage two, the one that takes you from here to here to here and now life gets easy. That's really cool. And I want that for you. And I know you want it for yourself. And you know, your friends who, you know, they ask you about your trading, you're like, oh God, I don't want to talk about it. Or, you know, it goes to, yeah, man, I want to tell you what's going on with my trading because I'm kicking button taking my names and making money and enjoying it. So and same thing, you know, with your family. It's, you know, how trick, you know, how does with trading, it affects all aspects of your life and especially how you feel about yourself. And so, you know, let's take care of this. It doesn't take long to get through this and learn the skill set. It's cool. It's a, you know, matter of weeks. And so again, swing by InsideOutTrading.com use the link in the description down below. Get on the wait list. You're gonna like this course. This is what's gonna, you know, move you from, from stage one to stage two and you can move on to a new objective instead of just, you know, figuring out how profitable. Now you're like, I'm making money now. What do I want to do? What's my next objective? Do I want to get wealthy? Do I want to just enjoy a nice income? Do I find a balance of both? Wow. Yeah. Whole new problem. And it's pretty cool. Anyway, I hope this video has been helpful. If it has, you know, subscribe to my channel, give me a like down below and share this with your friends. But if you have friends who trade and they like you already, they'll like you even more if you can, you know, give them something helpful with their trading. So share this with your friends. Again, swing by Inside Out Trading.com, get on the wait list and as soon as, as soon as it comes out, actually, you'll know ahead of the general public when it comes out and you'll be able to get on this and make that difference in your trading that you've been looking for. This is what you've been looking for. So it's really cool. Again, I hope this been helpful. Talk to you soon. Cheers.