How to Achieve Consistent Profitability in Trading

Hi, Brian Mackwell here with Inside Out Trading. Today we're going to talk about. We're actually going to answer the question that here. And I've been hearing it for years and it was one of my first questions when I first started trading. It's perfectly valid question because, well, jump into trading and it looks easy at first. It's like, oh, yeah, I can jump in there, start making some money. And it looks like fast, easy money. And so the question invariably comes around. It's like, well, how long should it take to get consistently profitable? And of course, it's a very reasonable question. Who wants it to take forever? We get into it thinking, yeah, this is something to be able to, you know, get a handle on it real fast, start cranking some money. And of course, you know, everybody that's selling systems or strategies and brokerage houses and all that kind of stuff, they make it sound like next week, yeah, you're going to be, you know, raking 10, 20 grand a month. They'll make it sound like super easy, super fast. And it's not that easy. And so it's, like I said, it's perfectly reasonable question. And so one of the things that we really need to be clear on first, though. And because, you know, everybody says consistently profitable, it's like the magic buzzword. You hear it on, you see it on every single website in the trading space, like, you know, buy our new tennis shoes. Buy our shoes and you'll get consistently profitable. It's like everything is the magic solution for, they'll get you consistently profitable. But let's take a look at. Okay, what is consistently profitable? This is a valid question. It's. It's an ice Sonic phrase. How do you know when you've made it? Seriously? Because I've worked with traders and even going back many years, this is a conversation that I had with coaching clients and we're talking about it and it's like, well, how do you consider it when you've made it? How do you know? And the answer was, usually, yeah, when I'm consistently profitable, it's like, well, for how long, though? A week? A month? Three months? Six months? A year? How long do you have to be making money every month before you say, yeah, I'm there, I am consistently profitable. I've reached the milestone that worked. Everywhere is the goal. And here's the thing, it's different for everybody, or so it seems. And you need to decide what is it for you? How will you know when you've made it as a trader and it's funny because one of the one conversation that I found really notable in particular was this gal I was talking to and she was asking the question. We got going back and forth about it and the notion came out of it was, well, it's not really even so much. Well, the question that she'd asked was how you know when you've made it as a trader. And that's what we were going back and forth about. And so the thing was, well, you know, yeah, when, you know, I'll be consistently profitable. And then we got to think about, it's like, no, that's really, that's not really the end goal because she'd been profitable for three months, but she still was going to the markets every day nervous and feeling some anxiety, and she wasn't feeling like she was there, there. And so it was funny because we got to think about. It's like, well, actually the, the thing is where you want to get to that milestone that you want to hit isn't necessarily being consistently profitable. It's when you can go to the markets and you're solid. That really was the main thing. When, when your confidence in your, when what you're doing and in yourself, when your confidence is there, where you know you're solid, you're good, that's really like the defining point. And so she was thinking, and I was too at the time were thinking, yeah, this is the goal to shoot for, not necessarily consistently profitable. But when you solid enough with what you're doing, your competence and your proficiency is there to where, yeah, your confidence is there. But one thing I learned over time is really, that's not an end goal that you want to shoot for. That really should be your starting point before you're risking money. If you think about it, you don't want to be risking money unsure if you know what you've got going on is going to work. That's gambling. Seriously, if you're not like highly confident in your ability to take your strategy and go to the market with it and be profitable month after month, if you're not confident that you're going to make money, that's not cool. That's that you're sitting dealing with an unknown and that sucks. And so really your goal, that's not. You want to hit that confidence point years down the road or whatever, that really should be your goal before you ever risking real money is where your confidence is that high. Because if you think about it, you should have trained when you were 25, 50, a hundred thousand dollars, maybe a Couple hundred grand. You don't want to be just gambling that away, losing tons of money, 10 to $20,000 just to find in figuring it out. Figuring it out, because that doesn't work. That's the hard lesson that everybody learns is this is not an occupation that lends itself to being figured out. Just because you keep plodding along, just because you keep trading doesn't mean the light bulb's suddenly going to go on one day and everything's going to turn around just magically by itself, or that you just keep trading and somehow things will magically turn around by themselves. Doesn't work that way. And every trader that's come to me that's been trading for 5, 8, 10, 12, 15 years, good people, smart people, sincere, and they've been struggling the whole time, years without ever turning that corner, without that magic event happening to turn things around. And it's not for them. Lacking competence or being intelligent or good people are trying hard. This occupation doesn't lend itself to being figured out. And so you don't want to. And here's the thing, all those years, not only was it wasted years, they lost a lot of money over that time. And you don't want to be losing a lot of money. You don't want to be given. It'll be like going to, it'll be like going to college for five years and then walking away without your degree. You're walking away empty handed. It's like, no, you don't, you don't want to go invest five years in 150 grand just to walk away empty handed. No, same thing with trading, right? Yeah. And so you want to get to that point of confidence as quickly as possible. You want to get to where with a very high level of confidence that yes, what you've got works. And you got a solid strategy, you got a solid system and you're solid trading it. Your execution is there. And so that you know that when you're going to the markets, the odds are in your favor that you're going to be making money. I mean, of course there are any guarantees, but because it is all based on probabilities, but at least going in that the odds are truly in your favor. You're not hoping, but you've actually, you experienced it with your own hands through proper training and testing and all that kind of stuff. You know that what you got works. Nobody has to tell you. And that's really the point that you want to get to before you're risking money. Do all your learning in the SIM account, that's really what it's for. It's not just to get familiar with the platform so you know how to place trades. It's where you, it's where you establish yourself as a trade. You want to do it all in some account where you're not losing money to find out instead of losing money, throwing money at the market to learn trade in the SIM account, get good training, skill up and it's really, that's what determines how long it's going to take to get consistently profitable, is how long is it going to take you to skill up and get yourself to where you have the skills, you have the knowledge, you have the proficiency and the competence, the capabilities that. Yeah, you know that when you're going to markets, you can deal with what's, what it's about. Yeah, you got a dynamic environment and, and you can deal with it and you can respond to it appropriately again with the odds in your favor. Making money anyway, I know I get kind of worked up. This is a big deal though, it really is, and please don't take it lightly. I've had so many people come to me and they had to lose 50 or 100 or $200,000, sometimes their marriage, over things before they learned a lesson. It's like get there first, then risk money and you want to get there as fast as you can. Don't just trade thinking you'll magically figure it out. You know, don't just keep trading. Seriously, it. You don't want to invest years without knowing that there's some, some result at the end of it. You don't want to go another year and it's like, well, is a year going to work or is it going to be another three years? No, you don't want that. Get the training. Take control of it. Be proactive. Don't just trade and be hopeful. Be proactive. Seek out the training. If the training that you've received to be a trader didn't, hasn't gotten you there, you're trading with anxiety. You're not making the kind of money that you want. If you're not there yet, give me a call or give me a call. Swing by Inside Out Trading book a call with me. We'll get on, we'll get on a zoom call or phone call. Let's talk about what your trading experience has been, what kind of training you've gotten, what you're running into with your trading, what's holding you back right now and what needs to happen to get you consistently profitable. Whether it's working with me. I teach the skill sets and how to build confidence, how to, how to get consistent. All that's the stuff I teach. Not real. So, so big on. Like if you got subconscious issues, you have true psychological issues. I got colleagues I can send you to for that. But let's talk about your situation, see what's holding you back and get you past the obstacles so that we get this time cycle to getting you consistently profitable in a knowing manner. We shorten that. We make that as short as possible. You. And like I said, whether, whether it's me or somebody else, I got a lot of good college. Whatever it is you need, I can point you in the right direction and get you the help that you need. And like I said, don't throw your money. Don't just keep throwing your money at the markets. Get the training that you need. It'll pay you back for the rest of your career as a trader. So anyway, I hope this has been fun for you. I hope it's been helpful. If it has, give me a subscribe down below. Share this with your friends and if you got a, if you got a comments, got any questions, Put a comment down in the down in the comments down below and let me know what kind of videos you would like for me to make. If you have any particular questions. Like this was a question that came from clients. How long should it take to get consistently profitable? Love to talk through the matter and help you out here. So yeah, leave a comment down below and again share this with your friends. But seriously, if your trading is not where you were like really happy with it right now, swing by Inside out trading dot com. There's a link up top. Book a call with Brian, click on the link, schedule a call with me. Let's get you to consistently profitable asap. Cool. Hope this has been helpful. Talk to you soon. Cheers.