You’ve got one, but what are you doing with it?
You’ve got one of these, but what are you doing with it?
Oh yeah, what is the ‘one of these’ that I refer to?
Your business.
You’re not just a trader, you are the owner of a business.
Your trading business.
Are you treating it as the business that it is, or are you just busy trying to ‘make money’?
There is a HUGE difference, and if you’ve never run your own business and worked for yourself before, then treating your trading as a business means that when you started trading, you actually had TWO learning curves to go through.
That’s right, two.
And they both came about at the same time.
You had to learn how to trade.
You had to learn what it’s all about starting and running your own business.
Even though you may not look at your trading as a business, it is one and in many, many regards is the same as if you had opened a ‘brick and mortar’ business.
When you started trading, you also started your own business, complete with an owner, manager and worker.
There are many parallels between a trading business and other types of businesses, PLUS the reasons for failure between the two are basically the same.
For more on this, (such as the list of parallels) go to
Prepare to have your eyes opened!
Cheers
Brian
P.S. The list of reasons for failure (and success) are surprisingly similar. Discover them right now and give yourself an edge you didn’t know was right at your fingertips all along.
P.P.S. Even if you have or currently own your own business, a trading business is unique in many ways (as you’ve probably discovered). Here is where you will discover how to make your TRADING business a reliable business as well.
Forex Income Engine Plus Special Bonus
NOTE: IF you do decide to get the Forex Income Engine and you do
so through MY link, I’ve got a very special bonus that I’ve
never offered before. See the P.P.S. at the end of this message for
details.
**************************************************
(Be sure to read this short note because this gives you access to a brand new Forex method that ‘flip flops’ the approach most people take…
…and shows you how select groups of traders can get in on the huge volatility in the Forex markets RIGHT NOW that’s being created by the problems in the other global markets)
Here’s what’s up…
In the past week, nearly 77,000 traders got exclusive access to 30+ trader Bill Poulos’s complimentary 3-part “Flexible Forex” training videos…
-these videos revealed his recent Forex discovery that shows you how to manage risk first when placing a trade, and THEN look for a profit as quickly as possible (and as many times a day as possible) all according to YOUR schedule.
So if you have ANY interest in discovering how to finally become an INDEPENDENT trader in the Forex markets, where you always know what to do, no matter what happens… keep reading and GET READY…
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A TURNING POINT IN FOREX TRADING?
———————————
Bill released a few copies of his new trading method to a few groups of “beta testers” last month, and from the early feedback he’s been receiving, it looks like this may be a turning point in Forex trading.
Why?
Because Bill does everything in his power to give you the “keys to the kingdom” where you understand EXACTLY what to do when you go to place a trade. There’s never any second guessing or wondering.
CAUTION: This is NOT for “systems junkies”, or individuals who like to let others make their trading decisions.
==> But it IS for traders who like to have FULL CONTROL of their destiny in the markets.
——————
IT’S ALL ABOUT YOU
——————
Bill designed this new method with YOU and YOUR schedule in mind. It’s all about giving you the flexibility you need in your busy day to trade in as little as 20 minutes… or even all day long if that’s what you have time for…
-but he’s only planning on releasing 250 copies in the next week that show you how to find trade setups quickly, protect your position with a sort of “risk shield”, and then look for profit as fast as possible so you can move on to the next trade.
So if you want to…
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…then check out the open letter Bill wrote for you that describes all the details:
CLICK HERE to get the Forex Income Engine
I hope you’re as excited as I am about this.
Cheers
Brian
P.S. I’ve seen this developer’s trading courses disappear in a matter of days in the past, and it’s a near certainty it will happen again… so IF YOU VALUE YOUR TIME, I really urge you to check out his letter here, and then ask yourself how what he has to say stacks up against how YOU currently trade:
CLICK HERE to get the Forex Income Engine
P.P.S. The special bonus: FREE membership in the Trading P.I.T. Club featuring the “Smart Trader” training - real value of $600! Just email me with your order number after you get it. When I confirm, I’ll sign you up for the Club and the training for FREE!
CLICK HERE to get the Forex Income Engine
Trading as a Business - Lessons from “Over The Hedge”
In the kids’ movie “Over The Hedge”, there are several
good lessons for kids, but also for traders.
R.J. was a raccoon that in his hunger, made the near-
fatal mistake of stealing the hibernating bear’s food
stash.
He snuck into the cave of a hibernating bear to get
his food-stash. Had it all loaded up on the wagon
the bear had in the cave (hey it’s a cartoon) and was nearly
out of the cave when his greed got the best of him
and he just had to go get that can of “Spuddies”
that the bear was holding in his sleep. When R.J.
opened the can, the bear heard it and awoke.
The wagon goes rolling down the hill only to be
run over by a truck and the food all destroyed.
Now R.J. finds himself with his head in the clutches
of the bear and having to replace all the food and
he’s only got a week to do it - or he’s dead.
Lesson 1: greed can wipe out your account, even
with just one mistake.
The scene now shifts to the turtle Vern and his
“family” just waking up from their winter’s sleep.
First thing on Vern’s mind and which he reminds
everyone of, is that they have to start preparations
for the coming winter, because they were down to
a handful of berries for food from last year’s stock.
Lesson 2: prepare for the coming year. Don’t just
let the days pass until things are upon you, especially
when you can foresee them and make ready.
Back to R.J.
R.J. discovers Vern and his family and the light comes
on over his head (a firefly in the movie).
Here is a group that has the skills that he needs, as Vern
and his family are a group of foragers, so he enlists their
help (unbeknownst to them) to collect his needed food
and save his life.
They manage to get everything needed to save R.J.’s life
and in the short time frame of a week. Had he gone
about it himself, he’d never had made it in time.
Now the way R.J. goes about it in the story is not the
right way to get help from others (through deceit), and
along the way, he finds that they are a good group.
At the end of the movie when the truth comes out,
Vern says to R.J., “All you had to do was tell us, and
we would have helped you. That’s what families do.”
Lesson 3: when you’re livelihood depends on it, your
best bet to make things happen quickly is to enlist
the help of people with the skills, knowledge or
experience to help you achieve your goals.
Quick summary of the lessons:
1. Avoid mistakes, especially decisions made based
on emotions.
2. Prepare for the future
3. Get help, and don’t go it alone, especially if your
livelihood is riding on your success.
2009 will be upon us soon, so are you beginning
YOUR preparations?
Have you updated your business plan for the coming
year (or at least created the first one)?
If not, now is the time.
Don’t know how to create a business plan for your
trading business? That’s what we’re doing in the
Trading P.I.T. Club - and it’s easy when you know
how.
Don’t wait until New Year’s Day to get ready for ‘09.
Begin preparations now so that it will be your best year
yet.
Cheers
Brian
P.S. By the way, did you know that you can save $120
on the membership to the Club for a limited time? Go
here,
http://insideouttrading.com/pit/save120.html
What Are You Worth As A Trader?
Today’s message can be extremely valuable, if you’ll take just a few minutes for a very simple exercise.
The purpose here is to simply raise your awareness, so that you can take action to improve matters if you find that it would turn things in a more desirable direction.
Do NOT be offended - that is not the intent!
So the question today is very simple:
As a trader, what is your hourly rate of pay?
Have you even taken the time to at least get a rough estimate?
It’s very simple to calculate:
Take the average number of hours per week that you devote to your trading X 4.33
Now take the average net profit for your last 3 months trading.
Divide the profit by the hours worked.
This is your hourly pay as a trader.
So……
What do you think?
Is your rate of pay is substantially below where you want it to be?
If so, then perhaps a change of strategy - in how you approach your trading business - might help that tremendously.
Too many people in business pursuits of all sorts, let alone trading, never bother to take a look to see if they are being properly paid for all their efforts.
Often the trouble is the point of focus - spending time, energy and attention on the wrong things - but not that the current matter isn’t worthwhile. It is simply the mental approach to the activity as a whole.
Here are a few examples:
One trader I know in Kansas spends an inordinate amount of time trying to tweak his system because he just KNOWS that he can find a way to beat the markets. He spends almost no time focusing on his organization, emotional control (or the sources of his emotions), so when he goes to trade, his execution is dreadful and he doesn’t capitalize on his system efforts.
Another trader in Quebec reads probably 3 books a week, but doesn’t apply what he learns from the books. He is making the mistake of thinking that knowledge is the answer in and of itself. Knowledge put into action is power.
In New Zealand, we’ve got one guy that has run his trading into the ground and is about to ruin his life. He has lost his life savings and has been trading on his credit cards trying to make it all back, sure that he’s “this close”. And he hasn’t even told his wife about it. Nor is he even considering stopping. He just keeps trading away, thinking that staying active is the answer.
Okay that last one is a doosie, but the point is that these people are very busy investing their time but at less than minimum-wage.
When these people looked at their hourly pay as a trader, it was a major wake-up call for them.
Most people get into trading to find FREEDOM and a better living, not working for less than their day jobs.
This is but one of the many aspects of trading that is worthwhile to explore and act upon.
If your pay as a trader is lower than you’d like, that doesn’t mean that it is necessarily bad.
A brand new trader isn’t likely to have a high hourly rate. They are still learning the ropes.
For someone that has been trading for more than a year, however, the rate of pay should be at an acceptable level. If it isn’t, then perhaps the approach to the business of trading is what needs to be attended to.
As with any true profession, education is critical to success. Make sure that you educate yourself and apply what you learn.
I hope you’ve found this helpful.
Cheers
Brian
P.S. For a different perspective on how to approach your trading, go to:
http://insideouttrading.com/pit/
You can pick up a free copy of the 30-page report, “Traits of the Top 10%” while you’re there
Do You Own Your Trading, Or Does It Own You?
It is so easy as a trader to get consumed.
- Consumed by wanting to hit the big winners.
- Consumed by the fear of losing money.
- Consumed by wanting to beat the markets.
- Consumed by wanting to be validated by being right in our choices.
It is so easy to become so consumed that we become owned by our trading, instead of owning it. But this is NOT what you became a trader for, is it? You became a trader to have a better life, right? Sure, you want the money, but so that you can live the way you want, with freedom.
Most are feeling frustrated with their situation because it is the opposite of why they started trading in the first place.
Because of this, I get questions regularly about the psychology of trading and these are good questions for sure.
One of my favorites is “What is the right mindset to have?”
Well to me, a mindset is a collection of perspectives. How you view or see a thing. Some refer to this approach as perceptual psychology: what you think about something and how you feel about it are determined by how you perceive it.
Now I also subscribe to other schools of thought, such as cognitive psychology and behavioral, but when we’re talking about “mindset”, that’s perceptual - and in trading it is extremely powerful.
For insights into the mindset of the favored 10% of individual traders that own their trading instead of the other way around, I invite you to go to the page linked to below.
http://insideouttrading.com/pit/top10.html
Whether you act on the offering there or not, you WILL discover some truths about trading that give you empowering perspectives that are the part of the healthy mindset.
Take back your ownership. It starts with your mindset.
http://insideouttrading.com/pit/top10.html
Cheers
Brian
P.S. If you haven’t already grabbed your FREE copy of the newly
updated report, “Traits of the Top 10%”, you can do so here,