Brian McAvoy from Inside Out Trading points out that college-educated people spend years and money on degrees but won't invest in trading education. He argues professional training is what actually makes traders successful, not free resources alone.
Brian McAvoy here with Inside Out Trading. And I want to share with you a comment that one of my clients I was working with during a session and we both started laughing because he's sitting there saying it blows him away. I mean, he's, he's an educated guy. He had his cool T shirt on, you know, says the best parents get promoted to grandparents. And I thought that was really cool. But he was talking about how it just blows him away how so many people, you know, they'll get into trading and they're college educated, so they understand the whole point of investing in your education so your future self, you know, will be better equipped and can easily afford paying for the education. But the comment that he made was it blows him away because he has friends who trade. And he says, it just kills me because he says, you know, I got this friend of mine, he's a doctor, you know, a guy spent, you know, hundreds of thousands of dollars and, you know, years on his education without ever making, you know, a dollar. He did all that, but now that he's in trading, he won't spend 50 bucks or 1,000 bucks or 5,000 bucks to, you know, to educate himself on how to trade. And he said, it just kills him. It's like, you know, you spend the 50 bucks, you want to learn how to do it. You know, you need the training. You spend $5,000 because it's the same thing just like with a college education to get you a professional level of training. You know, I thought it's so funny because, you know, I went through school, paid my way through school, and, you know, yeah, it's a huge investment. It's like, okay, I'm commit years of my life at basically, you know, living broke. But, you know, back, you know, right out of high school and everything, it's like, okay, I'm going to college. And back when I was doing it, it's like 450 an hour part time you're living on for years to get your college education, plus the cost of the education, you know, tens of thousands of dollars. And, you know, there. But there are people that, you know, they sit there and say, oh, I don't know if I should buy the, you know, $29 book or, you know, I don't know if I should take that, you know, $5,000 training because, you know, it's just, oh, it's so expensive. Look at what you got on the line with trading the payoff when you get it right and you're doing it right and, you know, what you're doing, the payoff is crazy. And he said it just, you know, just blows him away. How, you know, you got college educated people who've already been through this exercise and they've seen the payoff, I mean, especially like doctors or engineers, it's like, yeah, you invest the time, you invest the money up and then you have that payoff. Yes, you have a much better lifestyle because you made that investment. But with trading, it doesn't have to be, you know, four, eight or 12 years of schooling and hundreds of thousands of dollars. It can be, you know, it can be a matter of weeks or months and, you know, less, less than ten grand. And so it's like one of the irrationalities of trading or, you know, just some people, how they're approaching it, it's like it doesn't make sense from a financial standpoint, being purely logical about it. So anyway, share that with you because, you know, if you're on the fence and you've been wrestling with it, you know, trying to do the, you know, diy, and I just want to do it for free and, you know, I'll watch all the YouTube videos and I'll hang out on Reddit and, you know, learn, learn about Robinhood and that's how I'm going to learn how to trade. And you're expecting it to actually pay off. Where it's going to provide you that nice lifestyle where you can quit your job or you can retire and travel the world with freedom. You know, you might want to kind of step back and take a look. Is that a reasonable thought process? Or it's like, you know, hey, should I get X? You know, should I find myself a good, you know, trainer, mentor and get the training to actually be a good trader so that, yeah, okay, I can treat this like a professional, get paid like a professional. That's the cool thing when you do it right. You get paid like a professional. And yeah, it affords a pretty nice lifestyle when you do it right. If you, I mean, could you imagine trying to, you know, become an engineer, you know, watching YouTube videos or, you know, learning it all on your own or being a doctor, you know, or a dentist, you know, where you're going to expect a six figure income but, you know, refusing to, you know, pay for an education or, you know, invest the time? No. So, you know, why, why people have the expectations with trading is hilarious. So anyway, it was a fun conversation to have with a coaching client and, you know, I thought I'd share it with you because it actually is Extremely applicable. I have so many people come to me and you know, they're, they're saying, you know, yeah, Brian, I've been trading for five years or eight years or 10 years and I'm still not making any money. And no, I've never hired a coach and no, I've never invested in training except for a couple hundred bucks here and there. And then they wonder why time goes by and they're not getting there. It's like, okay. But it breaks my heart because it doesn't have to be that hard. It doesn't have to be a four year education or a ten year education and hundreds of thousands of dollars. I mean, I can get you there for less than ten grand and we'll get you there in a couple months and it's cool. And it's not that difficult if you just get the training that you never got in the first place. Anyway, hope this has been helpful. You got any Questions, swing by InsideOut Trading.com, book an appointment with me, we'll get on the line, we'll talk, you know, see where you're at, see what your challenges are, what you've been wrestling with and how to get you past it and onto good trading. Anyway, talk to you soon. Cheers. Would you rather profit by design or through trial and error? I just started the Strategic Trading club and when you join, you get a free membership. You get access to over a dozen different trading tools. So if you'd like to join a club, swingbyinsideouttrading. Com, Go and sign up right now for your free membership. We'll see you on the inside. Cheers.
