Make Money "Trading Like A Business" - Brian McAboy | Trader Interview
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- Опубликовано: 26 июн 2024
- In this Forex trader interview, Etienne welcomes back Brian McAboy who talks about how to make money "trading like a business". Scaling up can be a challenge. When you trade like a business, how does it affect your account growth? Find out in this video!
Chapters:
00:00 Introduction
00:52 Updates about Brian McAboy
02:23 The difference between the people who stay profitable short-term and long-term
04:54 How to see trading as a business
07:24 Valuing your time as a trader
14:26 Scaling up from a $5,000 to $500,000 account
15:47 Is a $50,000 account doable within a couple of weeks to a few months?
17:14 Insights on prop firms
19:41 Responding to people who need to build confidence
25:05 When it comes to strategies, how do you filter through all the noise?
27:19 Working with trading psychology better
35:03 Where to find Brian McAboy (links below)
#desiretotrade #forextrading #traderinterview #professionaltrader
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Brian's website: InsideOutTrading.com
RUclips Channel: @TraderBrian
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Развлечения
I really like your type of interviews because u bring real trader to the screen, no doubt about it. Many other just show those RUclips Gurus but we do not even know who is a real trader and who is just a fake marketer. Well done bro
Thanks! 😊
The response by Brian in the last 30 seconds should be a poster next to every developing trader's screen.
Absolutely 👍
Excellent. And I love that he asked *you* questions. Everything he said aligns with my experience; I’m thankful I have not lost so much before gaining some sense!
The time analogy is so wrong. I ve been trading 15 years and in beginning i made 200-300 which was 50-100% more than my previous job of 17$/hour. What most people dont get is its not linear. Sure there have been downturns but overall after 15 years I could never EVER expect to make this kind of money. I mean even the top engineers who stress at Meta, fb always worrying about the axe dont even compare to the quality of life. Dont forget that after your needs are met you are managing that extra cash too. My wife's account is up 40% annually over last 3 years. Yes that includes 2022 which was a big down year. Set yourself goals, improve and improvise but dont be disheartened. As long as you are on right path you WILL make more money than most jobs.
Do you take into account the time spent learning and the amount you lost? That's what he was getting at..the start up phase
@@swirlandsniff2335 Of course, as in any business there is an opportunity cost involved and you take the risk going into the game. Remember that when you are learning you are learning on a small account and ONE account. Once you learn, at least if u learn the right way and are succesful then you are trading multiple value of that initial account so the intiial cost that you lose is a non factor. A lot of things go into being successful and if you are, it cummulative returns on your trading. for example in my case i calculated that i worked from 15 years old till 26 when i took up trading. I made a sum total of average 40k a year, lower when i started higher when i ended., My best year was 68k. My best month in trading is well beyond that one best year. I kept working till i was 38 and when i quit and it was the best decision.
@@swirlandsniff2335that depends if you use his example of mowing lawns, then yeah the time it takes will pay off.. if your other choice is to go to med school, we’ll then you’ll train for 8-12 years to become profitable.. so ultimately if you are looking for a professional , long term life trading than yeah 5 or even 8 years in training isn’t exactly wasted.. however it’s much riskier than med school as no one will hire an unprofitable trader with 8 yrs experience 😂
The icing on the cake right here. ✅️
By far one of The Best🎉 Thank you Eitinne 🙏
Very glad you liked it!
I have been thinking of creating a business entity for my trading for tax purposes. I think that’s something amiss for once you achieve profitability
Another great interview! Couple greats in a row.
I’m glad you liked them!
Good practical advice about the business side of trading
Exactly! Glad you liked it!
Good interview today thanks E
Glad you liked it, Bruce!
Could you explain the best way to to this full time & the best business set up to do so?
With best regards
I think for trader funding their own account with no experience it takes years to become 100% profitable. I have been trading 5 years and am now profitable. I say if you fund your own account grow it slowly and add to it consistently and once it grow ,you just raised enough money to start your own business…now you make income
The last 5 minutes is Gold
Glad that was useful!
Do these strategies transfer to stock trading or is it just for forex trading?
❤
Anyone understands what this Etienne is saying? Why is he trying to speak faster than the speed of light? He needs to slow down and work on his DICTION
I love him though ❤😂
Yes, I do.
Ya he can't talk well
This is my 5th year. Still cant make money
Keep track,note what mistakes cost you the most. Knock them off 1 by 1
@@lovenpeace271 this week I'll be looking at a small handful of indices on H12. Looking for a nice pool of liquidity to be grabbed on H1 and setting my forward orders below that pool in line with a fair value gap or order block.
Oof gotta reassess all that time I put in elden ring oh dear 😂
☦❤🕊🙏
At 18:49 where this interviwee asked the guy on the phone how much has he lost so far is very questionable. By the way he laughs at the answer given where the guy said that he lost the house and inheritance is sickening. But we live in a virtual world and everything goes. We're here for entertainment. If someone lost that much, a normal human being shows compassion and genuine concerns not laughter at such news. How one can laugh at someone's misfortune is beyond comprehension.
You are experiencing this moment for the first time; you have no idea how long ago or how often he’s recounted this story.
Agree. I've watched a couple of interviews now. I noticed there has not been a single interview with s.o. not selling anything.
This is a marketing channel.
Also what has been said is totally wrong. Known trading firms like ftmo don't let you trade with real money it's just a demo account and they pay you out on that. They make money withe very small amount of people with the best stats by copying their trades. Both things I just said can be read on their website.
And I'm certain they make a lot of money with people failing the challenge.
People have always and will continue to blow inheritance . It’s an absolute fact .
Who in here is constantly returning 10% a month?
Does this guy even know how to trade? So many so called experts selling g courses, books and services but non are variable traders, been going on for decades don't fall for it.