This is a YouTube video titled "Psychology of Trading - 2 Key Questions: 1 Rarely Asked, 1 Very Revealing" created in October 2010. The content features Brian McAvoy from Inside Out Trading delivering a monologue focused on the psychological and business challenges traders face. He discusses the importance of having prior experience running a business to increase the odds of success in trading and promotes a structured training program designed to help traders develop both trading skills and business acumen. The video is an educational and motivational talk aimed at traders seeking to improve their approach and mindset.
You. Hi, Brian McAvoy here with Inside Out Trading. And you know, when people come to me, traders come to me for their help, they usually have a lot of questions, sometimes a few that are really standing up more than others, but they always have questions and they're wanting to know what to do to get their trading turned around, and they're looking to me for that help. Now, in order for me to best help them, obviously I have to ask them some diagnostic questions, find out what's going on with them. And I found that there's one question that seems to be floating around in the back of everybody's mind. A lot of people skirt around it, but there's one question that's always lurking there, and I've actually had a few people who are old enough to just come straight out and ask it. And that question is, can I really expect to make it as a trader or am I just kidding myself? I admire the boldness, but that question seems to be lurking back there for most everybody who's been at it for a while and just can't seem to figure out how to make it work. I found all my time helping traders that there's one question that I can ask that really will tell me if it's likely they're going to make it or not. There's one thing that I can ask them that really will tell me a lot as to whether or not the odds are really for or against them. Because, see, there's more to trading than just knowing how to trade. And that's what cracks me up when I see banner ads or commercials saying learn to trade Forex or learn to trade stocks. And they make it all look so easy, like it's so simple. But there's more than the learning curve of just learning to place trades. You know what I'm talking about. Now, the one question that I can ask somebody and will tell me, are you likely to make it as a trader or not, is this one simple question. I'm going to tell you why it's so crucial in just a second. But the question is, have you ever run your own business before? Have you ever worked for yourself successfully before? I found that if the answer to that question is yes, then the odds really are in your favor as a trader. And if the answer is no, you've never worked for yourself before. You've always worked for somebody else. Particularly if it's always been in a corporate environment, the odds are kind of thin as far as you make it as a trader. And here's why. Don't get discouraged just yet because that doesn't mean that you're automatically for failure. But here's the thing. When you only worked for somebody else, you've been conditioned to work in those circumstances. It's real common knowledge. For the last couple of generations, the whole life cycle has been you go to school, you go to college and then you get a job and you look for a good company to stay with and the company is going to take care of you and you want that nice steady paycheck and a good structured here, just go do this and you follow instructions. But when you go to work for yourself, there's a whole different learning curve. Just in going to work for yourself, being an independent, self directed person and handling all the roles that are necessary in a business, very different from a job, very, very different. Not just in the day to day routines, but in the attitudes, the mindsets, the relationship with money. There's a whole lot of things that go into that. Usually with that one question, if you can say, yes, run your own business, then that tells me that at least you've gone through a lot of learning curves or the learning experiences and self learning that are part of the learning curve of working for yourself and running your own business. Because see, there are two major learning curves to becoming a trader. One is trading itself, which is formidable. It's a respectable learning curve, a body of knowledge and skill set that goes with that. But then you got this whole other one over here of managing yourself. Like I said, it's a learning curve about yourself and conducting business, running a business. So you've got that learning curve as well. If you're trying to take on both of them and you haven't been given the proper guidance, you're just kind of thrown out of the boat to figure out how to swim. That's really the hard way to go about it. And that's why I've set up the training pit club the way I did the training pit club. Because you need to be able to walk through different experiences to acquire the knowledge that you need, but also to have the experience and develop the perspectives of working for yourself, of being a business owner as well as becoming a trader. So you need both. And that's why the training is structured the way it is and it's paced so you can assimilate all the information. Because it isn't going to happen overnight and it's not something 30 days, you're going to be making 10 grand a month or whatever it is. It's not about the false hype. It's a realistic approach to getting you through both learning curves in pretty short order. And even if you have run your own business, you know that that's a challenge by itself. And then applying all that to trading. Every business, every industry has its unique personalities and characteristics. Even if you have run your own business before, the pick club is still very applicable to you as far as helping you get your trading business established in very short order. So anyway, if you'd like to find out more about what the course covers and it will walk you through and how it will help you instead of having to take years and years and years of struggle and just shooting in the dark, it's a very calculated and intentional business approach to your trading. So you get there in very short order. It shortens your time to profitability and saves you just tons of wasted time with trial and error. So anyway, click on the link below. You'll find out more about what I'm talking about. And I'm sure that you'll be glad you did, because that one defining question really is very revealing. Whether you answer it yes or no, the help really still is a great investment as far as saving yourself tons of time and wasted money. So it's Brian McAvoy with Inside Out Trading. Feel free to swing by the site. Drop me an email if you have any questions. Cheers.
