Brian McAvoy from Inside Out Trading breaks down the mindset differences between opportunity seekers and serious traders. He argues trading must be treated as a professional business, not a side hustle, and describes the dual learning curves traders face. His six-month program aims to help traders build a consistent, profitable trading business with a solid plan.
Hi, Brian McAvoy with Inside Out Trading here. And I've got a couple of questions for you. And these are important because they do affect your trading. First question is, you know, when somebody says, you know, what do you do? And you say, I'm a trader, what image comes to mind when you think of, you know, a trader? I mean, does, you know, the picture come to mind that you're, you know, somebody who's working at home, trying to make some money, break free from your job and hopefully someday making enough money at it to where you can quit your job and just work for yourself? Or is it more along the line of a professional? If I asked you what image comes to mind when somebody says doctor or attorney or dentist or a cpa, usually the image that comes to mind with those is, oh, hey, six figure income, live in a nice neighborhood, drive nice cars, kids, go to good schools, probably got a house at the lake, vacation at the beach or up in the mountains. And the reason I bring this up is because trading is no less of a profession. It really is. Now, the thing is with being a lawyer or a doctor, dentist or an accountant, a certified public accountant, there are systems in place where a person, if that's the career that they choose, they can go get a thorough education for it. They learn how to do that job very well. There's a large body of knowledge that goes with each of them. They are taught how to set up their practice and how to run it. And of course, there's licensing involved and they have to pass tests to even be able to go do the thing that they do. Now, the thing is, like I said, trading is no less of a profession. Unfortunately, the formalities have not been brought to the industry and there is no required education. There is not really any formal school out there to go to where you can go to the University of Missouri and get a degree in trading. Now, there are some schools that are starting to, which is cool, but it's not there yet. And so for most individual traders, what comes to mind is, I just want to make some money and get my freedom. Now, the difference is when a person becomes a true professional and they establish a business out of the occupation, then not only is the freedom there, but also the security to go with it and usually the nice income. These are all really important matters because like I said, they definitely pertain to trading. Now, when a person starts into trading, one thing that really is overlooked by the industry in general, and I'm trying to make everybody aware of it, is when you became a Trader, you actually had two learning curves to go through, and here's why. First of all, you had to learn how to trade, doing the thing of the business. But the second thing is you also had to go through the learning curve of starting a trading business. See, that's where the consistent problem profits and the security and the reliability come from in trading, is when you can treat it like a business because it is a business. See, a business in my definition is any activity that's engaged on a regular basis for profit. Everything from a lemonade stand to a restaurant to a car dealership to a profession like what we were just talking about, being an attorney. All these things, they're businesses. They're not just occupations. They're not just something to do to make money. Like I said, when you became a trader, you actually had two learning curves to go through. And unfortunately, the learning curve of how to set up a business, start a business, and have a business organized, that's something that most traders never even get introduced into their head, let alone shown how to do. And that's where I want to help you, is show you the process of how to start, or if you've already started, how to establish a real business out of your trading. Now, what does this do for you? Here's the mindset difference between an opportunity seeker, because everybody that's working for somebody else, and then they're locked in the job, the 9 to 5, they want their freedom. So there are a lot of people that fall under the category of opportunity seekers. I've been there. Maybe you have too many. It's not uncommon. Now, here's a distinguishing mindset, though. See an entrepreneur, if you look it up, the dictionary says an entrepreneur is a person who systemizes and organizes the business undertaking, assuming the risk for the sake of profits. Now, the key difference there, an opportunity seeker is willing to risk, you know, assume the risk for the sake of profits. An entrepreneur says, I'm going to organize a business of it. I'm going to systemize it, and I'm going to organize it and it's going to be a real business. I'm going to put together a business plan so that I know six months, a year, year and a half into it, I have a real business where I not only have the income, I have the security, a reliable income source, and I can look ahead to the future and feel very comfortable about it. Again, that's what I want to help you with. Here is gaining that entrepreneurial mindset and also walking you through the process of becoming an entrepreneurial. Trader. All you really need to do is just click on the link below or the button below and you'll see what I'm talking about. What I have set up for you is a six month program which actually is very short. It's like a crash course that walks you through weekly lessons on the process of establishing a profitable, consistent trading business, including at the end of it, we actually put together a real, functional and realistic business plan for your trading business. Anyway, click on the link below, take a look. You'll see all the different things that are covered in the course. There is a very specific curriculum to it because there is a process to go through to get to the business plan so that it's easy to write and it makes sense. And it's a workable plan where you can look at it and you can say, hey, this is going to work and I can look ahead to the future and I can feel comfortable about it. I mean, a business plan where you could actually take it to somebody else and you could say, would you invest in this business? And they'd look at it and they'd say, this makes sense, yes, here's my money. Because essentially that's what you did when you chose to begin your trading business was you took your money and you invested in this business. So it only makes sense to establish a good, sound business out of it. Anyway, Brian McAvoy with Inside Out Trading. Check it out below. Cheers.
