This is a YouTube video titled "Treat Your Trading As a Business - Part 2" created in August 2007 featuring Brian McAvoy, also known as Trader Brian, presenting a detailed talk on how to approach trading as a business. Brian explains the multiple roles a trader must adopt—owner, manager, and employee—and emphasizes the importance of periodically stepping into each role to improve clarity, efficiency, and realistic goal setting in trading. The content is a monologue-style presentation aimed at educating traders on business mindset and operational discipline.
You. Hi, Brian McAvoy here with Inside Out Trading on YouTube. I'm known as Trader Brian. If you want to check out my other videos. Today's topic is how to treat your trading as a business, part two and what we're going to discuss today. In general, we'll get into the specifics again, getting more in depth as we go in the video series. But today we're going to take a general look at the various roles that are part of your trading business. Anytime that you're going to get into any kind of activity and you're going to engage on it on a regular basis, especially long term, I don't think there's anybody that says, hey, I'm going to go trade for three months and then I'm done. No, you're expecting to do this for at least a significant period of time, maybe not for the rest of your life, but for medium to long term activity. So it's important that you step into each of the different roles that you have. Like with any business, the first one of that is the owner of the business or the investor in the business. Because it is your business and you own it, it is yours. Something that's real important here. This is not a typical business like most people are used to. You're self employed here and you're wearing all the hats. So every role that there is within this business, at some point along the way, you have to step into each of those roles. Again, we'll start with the owner's role. That's where it's important that you look at your trading operation, your whole activity, strictly from the standpoint of being the owner of the business. If somebody came to you and they said, I got this great business for you to invest in, you'd be asking certain questions like how much is it going to take? What's my rate of return going to be? What's the payback period? It's going to take one month to months, six months, 18 months, five years. How long is it going to take for me to get my initial investment back and what do I expect to see later on? There's more to the owner aspect that we'll cover when we get to that video. The next role that you have is that of the manager of your trading operation, overseeing the day to day activities of the operation. You know, what are you going to do as far as the manager? What budgets are you giving yourself to operate within? How are you going to support your employees? Your trader? What does your trader need to do her job well and effectively? And then of course, the third role is that of the trader, where you're the employee, you're the worker, you're the one doing things on a day to day basis, making things happen for the business. So it's really important that you understand that you do have different roles. And again, you're wearing all the hats. There are several hats to wear. It's more than just these three. These are the core three, though. You are the owner of your operation, you are the manager of your operation and of course the employer. If you're the trader and then you are the trader, of course, most of your time is going to be spent as the trader doing the trading. Like I said, it's important that you understand that you do have these different roles. And periodically and preferably on a scheduled basis, at least once a month, you will take time to step into each of those roles and look at what's going on and the operation as a whole from that particular perspective. Once a month or maybe more often, you take time to look at your operation as the owner of the business, you take time to look at your operation as the manager of the business. And of course, even as the employee, as the trader. If you look at it from the perspective of when you're in the trader role, what are the things that are going on? What are your freedoms? What are your limitations? What things do you need to do your job well? How many hours are you putting in? So it's important that you step in first of all, you understand that you have different roles and you need to step into that role to be that person periodically and preferably on a scheduled basis. And if you'll do that, you'll find a lot of benefits. There's so much more clarity that will come to things. You'll improve your efficiency, you'll get better direction and have better purpose in what you're doing. Things will be more realistic. You will be as nervous or anxious about today and especially tomorrow. That's one thing that's huge for traders, is I just want to make money. And the real objective is just so unclear and so vague. I want to make $10 million next month because I'm going to hit that huge home run. Well, no, that's not realistic. And if that's all you're hoping for, but you haven't clarified it any further than that. Yeah, trying to forecast and look down the road, it's always going to be filled with anxiety because you haven't set anything realistic out there for you to work with. Again, treating your trading as a business, first thing to understand is that you have different roles that you need to play. This has been part two of the series how to Treat your Trading as a business. Brian McAvoy with InsideOutTrading.com you're welcome to swing by the site. I'll be posting these videos there as well, and various resources to help you along the way. And on YouTube I'm known as Trader Bryant. If you want to check out my other videos, feel free to until we get to part three. Cheers.
