Learning to trade profitably on your own can take a long time for some people, but if you have a mentor or coach helping you, the time can be reduced significantly. I have wanted to get a Trading Coach on the Podcast for awhile now and I am happy to present my first interview with a Trader/Trading Coach.
Brian McAboy used to be a Mechanical Engineer in the Manufacturing Industry, but he caught the trading bug and never looked back. Just like every other Trader, he took his lumps early on in his career and wanted to understand how to be the best trader he could be.
As he started trading profitably, he wanted to help others do the same and when the opportunity presented itself, he began coaching. Being an Engineer, he understood the benefit of creating documented processes and set about applying that to his trading and his coaching business.
One of the most important points that Brian brings up is that trading must be treated as a business. Many people think that trading is somehow different from opening a restaurant or selling t-shirts on the internet. While the products are very different, the basic principles of business still apply. You still have to have a plan, be properly funded, have an advantage in the market, etc.
Brian loves working with Traders because he feels that they are generally very intelligent, caring and genuine people. He was generous enough to spend over an hour talking with me about all aspects of trading and I know that you will get a lot of great information out of this interview because I sure did.
In This Episode:
- What plastic bottles have to do with better trading
- The minimum amount of money that Brian feels you need to get started in trading and be properly funded
- How to stop self-sabotaging your trading
- The two biggest things that you need to concentrate on to become a successful trader
- How many years of trading experience the average Trader that Brian trains has
- The influence that Ken Roberts had on Brian's trading
- How quickly can someone become a profitable Trader (after doing the work, of course)?
- And more!
Click Play To Listen To The Interview
Resources Mentioned:
- Brian's website: Trading System Mastery
- Brian's book: The Subtle Trap of Trading
- Book: Mark Douglas – Trading in the Zone
- Book: Michael Gerber – The E-Myth Revisited
- Book: John Forman – The Essentials of Trading
Other Ways To Get The Trading Lifestyle Podcast:
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- Click here to hear the other episodes
- Right-click here and “Save As” to download the MP3
Disclosure: Some of the links above are affiliate links in which I get a commission if you purchase through those links. It doesn’t cost you anything extra and part of my commission goes to support my charity partner.
Thank you so much for these interviews! Very inspiring! Keeps me motivated! :)Keep up the good work!
Thanks Alex!
yeah, just make a voice pod cast!
I’ll keep it in mind 🙂
Thanks for the shout out Hugh! lol. Didn’t expect you mentioning my name. haha, Nice stuff man. It would be nice to see a self interview about you as well and you could tell us about your back testing various PA methods. Just throwin it out there.
Thanks…something to think about. I’m not sure if I’m ready to be on that side of the camera yet, haha.
Excellent on the recommended book. I knew trading needs to be plan like a business but I would never see Michael Gerber E-Myth Revisited book as a template on trading.
Priceless, a new insight to design a system. By the way I saw his blog, great way to get notice through guest posting on those site and the testimonials looks great. Thanks again to Hugh and Brian for this rare insight.
Regards
David
Thanks David.