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Comments On The Report

"No wonder I've been struggling for so long to make money trading! No one bothered to tell me any of this before - and I wish someone would have!

Thanks, Brian, for getting this out there!"

- Mark Lassiter, Individual Trader

"Have you ever read something, laughed and gotten kind of mad at the same time, because before you read it, you couldn't see it, but afterwards it seems so obvious and clear? That's what this report is like.

It's a real eye-opener, and refreshingly very helpful in my trading!"

- Danny Wooden, Individual Trader

I'm asked to read a lot of books and reports to give my review. Most are "ok" and you can generally get a few nuggets of quality information. Brian's book, however, is on another level. I highly recommend it. He hits on so many of the factors that cause most traders to fail and contrasts that with the qualities of most of the successful traders I know. In fact, I love the title "enough to be dangerous" because that's how much most traders know when they step into this arena. However, this book gives the beginning to intermediate trader a true "blueprint" to succeed and not get chewed up and spit out.

Successful traders will also find it worth their time, as you're going to see a new perspective on "discipline" and on using your subconscious mind that I found enlightening.

- Justin Weinraub, Day Trade The Markets “Brian McAboy is a great author, who manages to pull the reader right into such an important topic,

which unfortunately is often presented in such dry manner that it gets left unattended by many – much

to their misfortune.

- Michael Schoch, www.Sharewise.com I got a couple of great insights out of that book and it outlines with a lot of precision what pretty much

all traders go to. I picked up very actionable things on how to run trading like a business that I can

implement right away.

- Étienne Crête, www.DesireToTrade.com


http://daytradethemarkets.com/

http://sharewise.com/

http://www.desiretotrade.com/


About The Author



Table of Contents

Introduction

Bill’s Story

The Kiss of Death

You’re In A Skill-Based Profession

What A Difference Even Just ONE Year Can Make

The Dollar Value of Doing Things Properly

How To Make Your Life Easier

Summary & Conclusion



Introduction

My intention in writing this report for you is to raise your awareness to what I’ve found to be a

huge gap in the information about trading psychology, hence the title: “Trading Psychology’s

Missing Chapter”.

Over the last 10 years of helping traders work through issues both technical and psychological,

most of the time the person seeking my help is saying, “What I need to fix is ME!” when in

truth, they were okay and didn’t really have any big personal issues.

Most traders are blaming themselves and beating themselves up over ‘lack of discipline’ when

the truth is that they’re quite normal and reasonably disciplined people. Like them, I’m sure

you’re fine just as you are, and you have what it takes to make it as a trader. You’re sufficiently

‘okay’ with money, success, and discipline, otherwise you wouldn’t be in a position to trade.

You’ve just been missing some critical information and understandings, and we’ll attend to

those right now. If you’re serious about making it as a trader and you’ve gotten past the ‘get

rich quick’ mentality, then this report will be very helpful to you.

If you’re wondering why you’ve had such a time sticking to your system, why you jump from

one system to the next more than you’d like, if you’re tired of wracking your brain trying to

figure out how to just settle down and get on with reliable trading so you can enjoy some peace

of mind and freedom from the stress, then prepare to receive the answers.

While there’s no Fairy Godmother that will change things for you overnight, you’ll be pleasantly

surprised to find out how quickly things can change once you start to see your trading from a

different perspective and how a different course of action can bring you a significantly better

trading experience.

I’m sure you’d rather get to your trading goals in a matter of months rather than years.

Because I’ve had the good fortune to have experience both as a trader but also in certain

occupations OUTSIDE the trading world, I know that it’s possible and very realistic to expect –

when you learn what you will here in this report and follow it up with the appropriate actions in

your trading.

In a moment, we’re going to take a look at Bill’s story on the next page.

See if you can spot how many pitfalls, mistakes and events that Bill runs into that are to his

detriment. Afterwards, we’ll review them so you can see which might possibly have happened

to you that have been and may still be working against you.



Bill’s Story

Bill is a fairly regular guy. He’s got a wife and 2.3 kids. He’s got a bachelor’s degree and a decent job. He’s looking at his 401k and the paltry 6% returns they get. He’s also thinking that retirement isn’t far away. And while he has a decent amount stashed away, he knows that it’s not enough to pay for the type of retirement he has in mind. He also just doesn’t trust that what he gets from social security will make much of a difference. He’s thinking that he’d like to do something with that money where it will do much better than it is. Plus even though the company where he works is doing okay, there’s really no security there either. He’d really like to have more control over his life and his financial security, and have the freedom to live more than he has been. He keeps hearing his friends talk about trading and the lifestyle and returns that it offers. Some are trading stocks, others Forex, a few in commodities. He’s heard about stock investing all his life, even has some that he bought years ago, and of course, currency and money he’s grown up with. Even the commodities don’t seem intimidating. He’s known about these his whole life. Metals, grains, gas and oil are all quite familiar.

Where The Trouble Begins… So he talks with his buddy Mark and learns what trading is about. Now Bill’s a reasonably intelligent guy. He thinks that it seems straightforward enough. He’s seen commercials for different brokerages, and calls one up to open an account. The rep tells him he needs to fill out the risk disclosure forms. Bill’s heart is thumping a little bit as he reads where it says that he might lose all his money. Even though he’s nervous, he pushes through it and gets the account set up. The firm where he has his account gives him a demo account and a link for an online training session to learn what they’re following and a method to trade with. Bill’s head is spinning and he feels a pretty big rush the first time he logs into the trading room… The first couple weeks go by, and he’s starting to get how there’s so much money to be made here, and he’s seeing the opportunities all over the place. Bill’s eagerness to start trading live and making some money is growing, so he tells his broker to activate his platform, that he’s ready to go live. Bill can just feel the excitement and the energy. “Man! I wish I’d started this before!” he’s thinking.



The markets open and it only takes about 30 minutes until he sees his first setup coming together. “Okay, there’s my entry point, just like the guy in the trading room showed us!” Bill notices that he’s sweating and he’s got butterflies in his stomach. And at the same time he’s thinking “Holy Cow, this is cool!” He enters his first trade. And at this point, it doesn’t matter whether the trade winds up being a winner or a loser. Bill’s been trapped, and now he’s pretty well screwed. He’s had a taste of how easy it can be to place trades, how easy it can be to make money. And he’s also seen how the ‘game’ works, and he gets it. From here on out, any winning trades only reinforce his notion that he can “do this”, and feed his ego that wants him to believe that he can beat the markets. Any losing trades feed into his desire for revenge, and the desperate urge to get his money back. These things, coupled with the familiarity of what he’s trading and how he over-rode his comfort zones and better judgement when he signed the risk-disclosure agreement, have set Bill up for emotional trading, which he now thinks is what’s normal.

Let’s rejoin our hero…

Bill’s trying to follow the mentor from the trading room, but he just keeps losing money. So he ventures out into the internet, looking for a system he can use to beat the markets. He keeps hearing about all these systems where people are just killing it. He grabs one that sounds promising and gives it a shot. It only takes a few weeks and Bill hits a handful of losing trades that he really wasn’t expecting. Now the doubt is setting in and he finds that he’s really having a tough time sticking to this system too. He’s losing more money and can’t tell if the problem is the system or if it’s him. The stress and the anxiety are beginning to take a toll on Bill. He’s losing sleep and Bill finds that his performance at his job is slipping because he just can’t get this off his mind. Over the coming months, Bill goes through four more systems, only to lose more confidence and belief in himself, so he checks out this site he read about, where they focus on trading psychology. It’s run by a respected psychologist, and at first he’s hopeful, but the advice seems to have no lasting effect, and Bill finds himself fighting the same issues in what seems like no time at all. His frustration is growing, but Bill’s not a quitter. He thinks that maybe if he tries one of these



robots, the automated trading will solve this discipline issue. After several robots and another few thousand dollars, Bill finds that these robots aren’t as perfect a solution as they’re purported to be. After hitting another low personally, Bill decides on another strategy. Perhaps a combination of human and computer would be the way to go, so he signs up for a signal service. This way he doesn’t have to think about it, especially on the exits. Once again though, a few losing trades and he finds following even the simple buy and sell signals hard to stick to. A year’s gone by and Bill is getting really low. He’s not the kind to lose, and he doesn’t like the prospect of being defeated, but he’s tired of the look of disappointment from his wife. And the long hours, the money not there for the things he wanted for his kids. It seems like all this time and effort, not to mention the money, and he’s no better off than with the mutual funds. It seems like he’s worked a whole year for free, actually paid for the privilege. When he talks to his friends, he finds that they’re not doing any better, so now Bill’s questioning the whole matter, wondering if it’s time to move on. It’s just so aggravating!… He knows the money’s there to be had, but he can’t tell if a given system is one that would actually work, or if it’s just more junk being peddled by these pure marketers that have never placed a trade. Bill keeps thinking, “If I could just find ONE system that I could count on, then everything will be fine.” For Bill, like most traders though, this quest always comes up empty. The vast majority run out of capital or confidence and never find that ‘holy grail’. He does some homework, getting various books on trading, but now he’s getting really discouraged. Depending on which book you read, they all seem to say that it takes anywhere from 5 to 20 years to become a successful trader.

The First Crossroads and Bill’s Revelation Bill’s reaching the end of his rope.

He’s thinking, “I REALLY don’t want to keep working at this for years, putting in the long hours,

taking time away from the kids and my wife and without making any money! This IS NOT that

complicated! It should NOT take that long! This sucks!”



He’s about ready to bag it and call it quits, when he remembers hearing, a long time ago, the saying to “treat your trading as a business”. At the time, he dismissed it as meaning to just be serious. But now, for some odd reason that he can’t explain, he feels compelled to find out what that means. He just has a deep feeling that there’s something here… Now Bill’s never started and run a business before, and so he ponders the question, “What IS a business?” As he reflects, he looks around the room… And after some thought, he realizes, “Wow, there are businesses all over the place! A business is really ANYTHING done on a regular basis for profit!” It dawns on Bill that every single thing in the room represents several businesses. The desk, the computer, his coffee cup, the walls, the floor… His keyboard, his shoes, everything. From the raw materials to manufacture, to packaging and distribution and sale to him, every step in everything in the room represents something where someone saw profit. “Heck, this applies to all activities for profit. From goods to services, wow, to buying and selling cars or houses, to accounting firms. I suppose it would even apply if you were running a food cart, or even a lemonade stand!” Bill has another revelation too. “When I first got into this, I had in mind that trading was like the buy-and-hold stock investing I’d done in the past. But as active and involved as trading is, it really is more like a regular brick and mortar business than it is investing.” Pleased with this useful insight, Bill does some more research to learn about business and how it applies to trading. So he looks into some statistics on both fields and finds that they share some numbers in common. Like failure rate. For both, 90-95% of all new startups fail in the first year. When he looks into WHY, he finds some interesting and very useful information, the causes of failure, again, are the same for both groups:

Lack of startup capital

Lack of experience in that industry

Lack of business experience

Lack of training

Lack of a business plan

Taking too long to get profitable…

“Wow! The same reasons in both!”



Now when Bill looks into what makes for successful businesses. He finds that these are directly applicable to trading as well. He finds that all reliable businesses require:

Planning

Organization

Systemization

Financial Controls

And sound management

Now when Bill looks back on how he’d been going about his trading, he thinks, “Damn! No wonder I struggled! “I was lacking everything but startup capital and I didn’t have ANY of the requirements for a successful business! So how did I get so screwed up?” Well now that Bill is beginning to learn about business and understand the perspectives, he realizes that the ‘mental trap’ at the very beginning had him thinking like an ‘opportunity-seeker’. He was just thinking about making money and NOT like an entrepreneur, where he’d organize a proper operation around the idea. So instead of doing it right and building a business, Bill wound up just chasing profits and wasting months of his time and over $10,000 of his money with nothing to show for it but a pile of regrets and some hard personal lessons. Now with these epiphanies, Bill also feels a considerable sense of relief. While he feels rather irritated that nobody had told him this stuff before, he now sees that he has primarily 3 things to attend to. First, he needs to further develop the Entrepreneurial Mindset, and clear his head of the opportunity-seeking thinking that had him running in circles, not caring that he didn’t really know what he was doing, just chasing pretty much anything that sounded like it would make money. Second, he needs to develop the business acumen, plan, and skills that he sorely lacks. And third, Bill realizes that the ‘training’ he received at the start was terribly inadequate. All they ‘taught’ him at the beginning was how to place trades and to get busy. They didn’t really teaching him anything about being intelligent and business-like about this financial venture. Bill feels encouraged realizing that what he’s learned confirmed what he knew all along: “I AM capable of making this work! I DO have what it takes! The problem was that I’ve been trying to do a professional, skill-based, performance job for which I had no proper training!



“No wonder it was so stressful, emotional and filled with crappy results! What I need to do now is truly approach my trading as a business and operate from a position of knowing, competence and a real plan, with intention and organization, instead of a gambler, like I was before, operating on hope and chance, but really not having anything I could count on or have any real confidence in.” So Bill sets out on a new quest, to learn how to be a business-like trader. But now he finds new challenges and obstacles. He finds that the information available on ‘business’ is very general. It all focuses on businesses that sell goods and services. The information on business planning talks mostly about product development and marketing plans. And the business plan templates that he finds are so generic that they’re impossible to apply to trading, and extremely daunting just to make sense of them.

He really wants to get this business plan part right, because he understands how important it is. He reads where the business plan is SO critical that Venture Capitalists and Business Investors absolutely insist on one, and if you don’t have one, you won’t get the time of day, let alone any money if you want funding for your business idea, no matter how good it is. Plus Bill’s learning enough to know that creating the plan is only one small part of what he needs to do. He sees that in every business plan he looks at, the first section is the Executive Summary. This is the part explaining WHO will be starting up and running the business, noting in particular their qualifications for the job. This goes right along with what he read in the “E-Myth Revisited”, by Michael Gerber, that a huge mistake many small business owners make is focusing only on the ‘thing of the business’, which for traders is the day-to-day trading. You’ve also got a whole bunch of other roles in running a proper business. These roles all have specific functions within your business. They each have their own bodies of knowledge and skill sets and if you ignore these roles, your business will run into problems rather quickly.

Bill’s Second Crossroads

Bill’s starting to get pretty discouraged because he’s starting to hit that information overload with the business stuff, just like when he first started trading and overwhelmed himself with trading info. What he’s finding on his initial search in the trading circles are just bits and pieces, but nothing really coming close to what he knows he needs to do it right. Now he’s starting to question if he should keep pursuing trading, or cut his losses and find something new to do. Lucky for Bill, he calls his buddy Mark that explained trading to him way back at the beginning.



He tells Mark of the revelations he’s had and the insights he’s gained, about trading being a real business and how this really is the key to making it work. Now Mark has experience running a business, and says “Yeah, it makes perfect sense! You know Bill, I heard about this trader training program not too long ago that focuses specifically on treating your trading as your business. It trains you on all the roles you have as a self-employed, independent trader, and it walks you through the process of creating your own working business plan for your trading operation, plus it even goes in-depth into how to properly systemize your trading, which you said was one of the requirements of a successful business, right?” So Bill gets on his computer and goes to this site to check out this training program. He finds it and can tell by the name that it’s what he’s looking been looking for. It’s called “Trading As Your Business”. Bill sees that in just 8 weeks, the program covers everything he needs. It has weekly lessons that attend to all of the roles and skill sets he now knows are part of this business of trading, and walks him step-by-step through the whole process of creating a proper business plan. He sees that the investment for the program is way less than he’d paid for a few trading systems, and certainly less that the money he completely wasted not knowing what he was doing, so he signs up and immediately gets started. As he works through the weekly lessons, he’s really enjoying the change in his perspectives, learning about the different roles and how they each contribute to a sound trading operation. He loves how his understanding of business is growing, and particularly with his trading… When he gets to the trading system part, Bill is especially fired up. He finally understands what trading systems really are and why this is such a problem for everyone, and he also learns how to spot a trading system with functional issues – in seconds – and how to fix it. Bill’s really enjoying this transformation becoming a very complete trader. When Bill completes the training, it seems like it just flew by, while at the same time though, he knows he’s completely different than he was. He’s got a sense of peace and confidence that he’s never felt before Bill’s biggest challenge now is simply accepting the new experience in his trading, but he’s quite happy to have THIS problem, getting used to things actually working right, knowing that he’s got the skills and knowledge to be a successful, business-like trader and a proper working business plan for his trading so that he can finally see HOW his goals will become a reality instead of a distant dream and even more importantly WHEN. He knows that finally doing this right is the only way he’ll be able to sleep well at night and have the peace of mind and security he’s wanted all along.



Pretty cool, huh? The really cool thing is that this is based on a true story.

Let’s take a look at some of the things that Bill encountered that created the problems.

What Sounds Like An Advantage Is Actually A Trap

Unlike most other businesses, trading has an almost zero barrier to entry.

You don't have to invest hundreds of thousands or millions of dollars and then also wait for months or

years before you ever get to start generating revenue. You can get started with active trading the same

day you decide to become a trader.

That happened to Bill. He was able to just jump right in and get busy in very short order, and of course,

with no one telling him to slow down, think the matter through, get himself organized and plan out his

new venture.

It was just, “Here, sign these Risk-Disclosures, watch this guy place trades for a little bit, and then get

busy.”

In one regard, the low barrier to entry is one of the wonderful things about the business of becoming a

self-directed trader. Now while it sounds really good to someone anxious to get making money, it also

presents a HUGE pitfall that has long term and very costly and damaging effects.

We All Start Off As Untrained Traders

Like Bill, we ALL start off as un-trained traders, every single one of us. Now, there's nothing wrong with

that in and of itself.

What happens once the decision is made to become a trader is where the trouble begins and the first

step is taken down the path of heartache failure.

The problem for Bill, again, just like the rest of us, is we have nothing in our experiences prior to trading

to transfer here, so we all start at square one. In your adult life, as you moved from one occupation to

another, you probably had experience at something related to the new occupation to help you establish

yourself in the new one.

But unless you've been in a job with similarities to trading (like gambling), you had nothing to prepare

you for the challenges of being a trader. At the very least, you had some training for new occupations as

you entered them, but if you're reading this right now, you probably never got any training on how to be

a successful trader. You were left to your own devices to figure that part out.



The Kiss Of Death

There is a very specific event that I call the “Kiss of Death” that once it occurs, you’re pretty well doomed to failure as a trader. How can you tell if it’s happened to you?

You heard some of it in Bill’s story and we’re going to explore it now. It’s an event that affects you mentally and emotionally in almost every aspect of your trading. It’s a long-lasting and often permanent effect.

There are two primary areas in which it affects you.

The first is functional areas, meaning that it directly affects your ability to DO all that you need to do in your trading, your ability to perform well and consistently.

The Second Primary Area is, mentally and emotionally and it’s in a variety of ways the psychological aspect. All of these different ways are unfortunately quite damaging and will hold you back indefinitely.

A Lesson from The Peter Principle

Okay, little back story for context. Back in 1969, Laurence Peter wrote a book explaining why waste and bad decisions were so commonplace in U.S. businesses. Incompetence was rampant. And the result was the book, “The Peter Principle,” which you may have heard of. But the “The Peter Principle” basically states that in the hierarchy, every employee rises to his level of incompetence and then remains there.

The practical lesson from this bestselling book is that all too often, people were being promoted to new positions based on their past performance, without consideration of the requirements for the new position. In doing so, people would get promoted and continue to get



promoted until they reached a position for which they lacked the necessary skills to continue to perform well, hence the “level of incompetence.”

Now, I’ve witnessed this firsthand, a perfect example was the early days, right out of college, when I was working at Johnson Controls as an Engineer, we had a couple of Maintenance Leads who had been promoted because they were very good mechanics, but as it turned out, they were not very good leads, because this required people skills that they just didn’t have. I mean, the guy that promoted them, he said, “Wow, he’s such a good mechanic, we should have him help lead the others.” And it’s like, no. Because leadership requires a whole different skill set from being a good mechanic.

You Promoted Yourself

How this relates to you is that being a successful, self-directed, and truly independent trader requires skill sets that no one told you about. When you chose to become a trader, you promoted yourself, essentially, into several different jobs, and most likely, you may have heard of them, but you’ve never likely been trained for them. To actually have those skill sets go with these different jobs. We’re going to take a look at it here in just a moment.

Unfortunately most traders begin active trading very unprepared. “Enough to be dangerous,” is really, probably the most appropriate description I’ve found. Most people, they learn just enough to be dangerous and then they get busy, and that’s where the problem begins.

So, there is a crucial moment in time, this crucial event, a brief moment in time during which your fate is largely decided. When you engage in an activity like trading without the proper training, many detrimental things get established for you-in a deep and profound way. Listen up, because you’re going to see this, and you’ll know it’s true in your own experience.

How The “Kiss of Death” Happens

The “The Kiss of Death” is when you began trading with real money and you are still at the “enough to be dangerous” state, unaware of the skills you need and largely (if not completely) untrained as a trader, yet thinking that you have a full understanding of what trading is all about.

Most traders think that all they need is a “good system” and they’re set. They fail to realize that there is more to what you need to be and do to be a long term successful trader.

Prior to placing your first trade, everything was just ‘theoretical’ at that point. It was just, you know, some mental thing that you were looking forward to. But once you placed that first trade, it then became your reality, because it went from being simply something you were thinking about, a mental image, to becoming an experience. And that’s an entirely different matter.



Establishing A Rotten “Normal”

During those early days of trading, you established the great majority of the mindset and mental framework you would carry forward. Your expectations, your emotional responses, triggers and associations, perceptions of yourself as a trader, the markets, trading itself, and many other points of reference all get established.

One of the most damaging mental constructs established during this critical period is what you call your “normal.” So many traders get used to struggling, putting in long hours without realizing success, and they just get used to it. Week after week, no forward progress. Just a continued plod, plod, plod, struggling along.

The Closing of The Mind

When you acted on that initial decision to go ahead and start trading, at a rather significant level mentally, you drew the conclusion that you were ready, that you had all you needed to get started. When you say to yourself, “I know enough. I can get started now” your mind closes to a large degree, and you stop looking to learn. You’re probably not aware of it, but that’s what happens.

This mind closing, combined with the apparent simplicity of trading, plus all the scams and misinformation, all the garbage that’s out there, leaves most traders jaded and limited to thinking, you know after they take a beating for a while, they’re just sitting there thinking, “if I could just find a good system, everything will somehow be okay.” Mentally and emotionally, they get stuck. They’re just there. Their mind is no longer open for new things, new ways to approach trading, none of that. You just get beat down, and you’re like, “God, if I could just find a good system, everything will be okay.” I hear that so many times from people and that’s terrible.

Bad Training

During those first crucial weeks and months of active trading, while you’re not prepared for the challenges of trading, you’re still being trained, but unfortunately, it’s bad training because you’re practicing bad trading. That’s what you’re practicing. You’re practicing nervous, unskilled, and emotional trading. That’s a huge problem. That’s just horrible training for you. Because it’s an actual experience, and not just a mental anticipation, this bad training is getting hard wired into you during the process, just like any other training. Your conscious experience is wiring your brain, and your emotional experience is wiring your nervous system throughout your entire body.



So, that’s why I’m saying it’s a ”Kiss of Death”. When your mind closes and you begin practicing bad, emotional trading and all the perceptions, beliefs, associations, and emotional response patterns are getting hard wired into every part of you through the experience of bad trading, it sets you on a course to ruin.

This is where it all begins, with that “Kiss of Death”. If your mind is closed, you’re doomed to struggle until you open your mind and begin to make changes. Or to put it in other more familiar terms, if you keep doing what you’ve been doing, you’ll keep getting what you’ve been getting.

Fortunately for Bill, he realized what he’d been doing wrong, just chasing profits, and he took action to change his first perception of trading, and also himself, thus also changing his fate.

So to what do you need to open your mind? That’s what we’ll look at next.

You’re In A Skill-Based Profession

Now, we’re going to look at this in a couple different parts. Part I is looking at the First Distinguishing Skill Set. This has to do with big picture problems, because traders often come to me for help with problems like: Overtrading, Chasing Bad Trades, Frequently Jumping from one System to another. In order to help them, I take a diagnostic approach since each person is different, and of course questions are necessary. I’ve found over the years of doing this though is that some questions are more enlightening than others, and one of them is my absolute favorite because it is so revealing. The question that tells me a lot about them is:

“Have you ever worked for yourself successfully before?”

The Answer Determines The Odds

If they say, “yes”, well that tells me that they’ve gone through the learning curve of working for themselves. They’ve worked through those issues, and really it’s huge. It’s the tougher learning curve believe it or not. It also means that they’ve been able to develop many of the needed perspectives that you’re going to need as a self-directed, independent trader. Additionally if they say, “yes”, that lets me know that they’ve attended to all this stuff and we



can just primarily focus on the trading aspect of things. They’ve already dealt with this whole other learning curve. But, if they say, “no,” that means that they have both learning curves to work through, which is significant. They have to learn all about trading, plus they have to learn about organizing the business and working for themselves and there are big mindset challenges that go with this and unfortunately, if they say, “no,” I know that just because of the challenges that they have in front of them, it’s so daunting, odds are slim, at best, I mean, really thin, if they’re not getting good help, they’re just probably not going to make it. Like a 98% chance that they’re going to fail. That bites, but it’s the reality of things. What Bill realized is that trading is more akin to a brick-and-mortar business than it is investing. He realized that this is a real business, and in order for your business to be successful and reliable, there are certain requirements. As you may recall, all reliable businesses require:

Planning

Organization

Systemization

Financial Controls

And sound management And within this business, there are numerous functions and roles to be fulfilled. Each of those

roles contributes to the on-going success of the business, and for every one of those roles is a

specific skill set and knowledge base.

Let’s explore that just a bit, because it’s important.

Now, if you think about it, any business that you admire, that you like, that you respect, meets

all these requirements. The same is true for your business.

The Different Mentalities

For the person that gets into trading and they’ve only been an employee for their whole life,

the problem is they’ve always had someone else providing these things and it’s substantial.

They’ve also had the security of a regular paycheck, and again, an expectation and a mental

reference point of only having to focus on that one aspect of the operation that is their job.

A person who’s only been an employee also has very short term expectations. It can be really

tough for somebody who’s used to getting a paycheck every two weeks to deal with something



where they may not get paid for 3 months, or 6 months, brutally hard for them to stay patient

for that long.

Another problem is that they’ve really just had one role to fulfill, whatever that job was that

they had. When you made the decision to enter trading, you promoted yourself into many new

positions, and it’s very likely that you’ve had no prior training for these roles. You’ve heard of

them, but you haven’t been trained for them.

The Wrong Mindset Leads to Incorrect Thinking

Instead of looking at their trading as a business, most traders are led to hold one of two perspectives.

The first is that they see trading as very similar to buy-and-hold investing, which it is NOT. Like Bill came

to realize, trading is a very active occupation in which you are frequently taking actions for profit, and

that trading is much more akin to any other business than it is investing.

The second perspective is that trading is an opportunity to “make money”. This view of trading is

fostered and even promoted by the many brokers and scammers because it allows them to push your

emotional buttons and get you to just jump on their offer without being more thoughtful about it.

The mindset of an “opportunity-seeker” sets you up for all sorts of trouble.

When you are operating in the mindset of an “opportunity-seeker”, you tend to chase ‘opportunities’,

which many traders do, always being tempted by the latest and greatest, hottest new thing. So many

traders run in circles for years, wondering why they can’t make any real progress, and they don’t think

to question their mindset and how it affects them. They are too busy focusing on “making money”.

Opportunity-seekers also tend to underestimate things. They operate under the naïve premise that if

they can just get profitable, then everything else will somehow magically fall into place and they’re set

for life.

They fail to recognize that every industry is dynamic and changes over time. New variables may enter

the industry, market moods can change, technology can create great disruptions to how things work,

etc. What works now, may or may not work next month or next year. Trading is a perfect example of

how things are never the exact same from one day to the next and certainly over time.

Only by being seeing the realities of business, understanding all that is involved in building and

maintaining a long term operation, and by holding the right mindset can you hope to succeed.



The First Critical Role and Skill Set

The First Critical Skill Set really addresses the role where you are the Investor/Owner/Manager

of the business. This is the treating your trading as being the business part of being an

independent trader. It includes the initial activities of researching, analyzing, filtering, at the

beginning of things getting yourself organized, and planning your startup.

As the Owner/Startup Manager, Creating an actual business plan is crucial to getting your

operation to sustained profits in a reasonable period of time and minimizing waste. We’re

talking about a real business plan, starting and growing the business.

And of course, you have to have the skill set of working for and managing yourself and the day-

to-day operations. These are all the things required of treating your trading as a business.

Critical, because this skill set and the plan is where you get the structure and the security, you

have clarity and confidence in what you’re doing. It provides your daily decision guide on where

to focus, and where you should be spending your money in, your effort in, your time, and your

mental energies on.

Shortening Your Time To Profitability – On Purpose

The best part about it is, it removes the anxiety and waste. That’s just absolutely tremendous

for so many traders. I have so many people come up to me all the time that have been at it 5, 8,

10, 15 years, and they’ve just been wasting all that time and tons of money, not even counting

opportunity costs.

The business skill set and the business plan is what shortens your time and profitability by

eliminating all that waste, it gets you to profitability as quickly as possible.

The Second Critical Role

The next critical role here is one people never even consider- that of being a System Analyst, a

Trading System Analyst. Fortunately, most traders, you’ve probably done this at least once in

your career, is you take on a system, and you try it only through trial and error. You have no

clue how to analyze it, but this is a business must.

Trial and error is just too expensive. It takes too long, and it’s too wasteful. Being able to

quickly and effectively evaluate and analyze a trading system – without losing money through

trial-and-error – is imperative.



Many Roles – Neglect Has Price

So you’ve got all these roles to fulfill, and they all contribute to good business, a profitable

business for you. If you ignore any of them, there’s going to be a cost associated with it. As

you’re addressing these, you approach them one role at a time, because they have different

functions within your operations.

Organizing and building a solid business requires several things, and there is a process to it.

There are several steps involved, and there is a specific progression to the process as well. Each

one requires reasoning and there are certain skills necessary for each of the roles and the

building of the business itself.

When you get the training for these roles, and have a clear, specific process to follow, this

allows you to enter an endeavor like trading with confidence and security. It also helps you

keep a level head by approaching the matter in an organized, calculated, business-like manner.

The Exponential Impact of TIME

There’s another HUGE advantage to approaching your trading as a business and that is TIME.

Business investors and entrepreneurs understand that time has the exponential effect on your

return on investment, which is a major reason for insisting on a proper, complete and well

thought-out business plan. They want to know they’ll be seeing profits in a realistic and

acceptable time frame. You should too, since you’re the investor in your trading operation!

What a Difference Even Just One Year Can Make

The concept to grasp here is that by looking ahead to the foreseeable future with the

perspective of a true business investor, you can see that time to sustained profits has an

exponential impact. Even just one year of delay can be staggering.

When a person knows only enough to be dangerous and isn’t aware of this aspect of being

business-like in your trading, they tend to be very short-sighted. They don’t think to pursue

getting assistance or training to develop themselves. This neglect almost always results in

massive delays in getting to sustainable and reliable profits.

When that happens, even only 1 year can mean the difference in your trading account of 6-

figures. So the question becomes, "Could you be leaving a fortune on the table without

realizing it?" It is entirely possible. Here's how...



Great Aspects of Trading

One of the great aspects of trading as your business is scalability. This is one of the few

businesses where you can easily scale up from a $10,000 account to $100,000, to a $1,000,000

account.

There's not a ton of capital that has to be invested to allow for the scaling. Sitting at home right

from your desk, you can trade a million dollar account just a easily as a small account. And

scaling can happen very quickly. It's not like you need 20 years.

The other aspect that has incredible impact is compounding.

With the high returns possible in trading compared to other vehicles, your account can be

grown at an incredible rate through the compounding effect if you leave your profits in the

account to serve as additional investment capital.

The Dollar Value of Doings Things Properly

Between these two factors of scalability and compounding let's do the math.

If you average just 6% ROI per month, which is NOT unheard of in trading by any means, you'll

easily double your account each year.

If you're starting out with just a $10,000 account, here's how you could realistically be sitting on

a million dollar account much quicker than you think:

But you have to get started NOW. Every month that goes by without your trading performing

at the level that it should is pushing that fortune away. In looking at the table above, if it takes

you even just ONE year longer to get your trading producing than it should, at the end of 5

years, you only have $160,000 in your account instead of the $320,000.

That's a huge difference of $160,000, for a delay of only 1 year!



The second effect is when you reach the point of using your trading for income generation.

Following our same example, if your plan is to build your account for 5 years, leaving the profits

in as you go to build that account, and then pull the monthly profits for income, here’s the

difference the delay makes, again, with just a 6% monthly ROI:

Monthly income from account with efficient start up: $320,000 x 6% = $19,200

Monthly income from account with delayed profitability: $160,000 x 6% = $9,600

With the same performance ROI in percentage, being organized and efficient in the startup

facilitating the larger account balance and greater working capital later, the difference in

income from the account is double, almost $10,000 MORE each and every month!

So you can see, long term thinking and investing the time now to get properly organized and do

it right, with intention and by design, pays off handsomely and rather quickly!



Time Is Incredibly Valuable

I have traders come to me on a regular basis that have been struggling on their own with the

same problems and still not making money, even after 4, 5 or even 10 years.

They have no idea what their procrastination in getting help to get things working has cost

them!

When you 'treat your trading as a business', you take control of time.

This is one of the primary benefits of treating your trading as a business. This is extremely cool,

because you want to get to sustainable, reliable profits as soon as possible, right? Of course.

You want to make the most of compounding your money, right? This is one major reason why

TIME is so huge!

The other, of course, is that life is short and you might as well make the most of this one while

you’re here!

As the saying goes, “This isn’t a rehearsal. You only get one shot.”

How To Make Your Life Easier

Jim Rohn has many famous sayings in the business and personal development world, and one

of my favorites of his is,

“Don’t wish that it were easier. Wish that you were better.”

The reason I love that saying is because it reveals the secret to making your life easier. You see,

difficulty is a relative matter. So long as you remain at the ‘enough to be dangerous’ level as a

trader, the difficulty of being an independent, self-directed trader will always exceed your skills

and knowledge. As a result, trading is frustrating, stressful, and usually not very profitable.

But when you pursue training to increase your skills and knowledge, then you raise your

abilities above the difficulty level of the normal aspects of this occupation. As a result of you

gaining greater understanding, organization and know-how, you handle things with ease and

confidence.

The other MASSIVE benefit to seeking professional development and training to get beyond

knowing only enough to be dangerous, is regarding self-sabotage. When you are lacking skills,

organization, tools and knowledge, your subconscious knows this, and will sabotage your



efforts indefinitely so long as there is a discrepancy between your level of success and what it

deems you deserve.

When you get the necessary training and implement it in your trading, your subconscious now

no longer has reason to thwart your efforts. In fact it will support you in your pursuit.

Summary

Like most traders, Bill jumped into trading knowing only enough to be dangerous, and not

treating it like a business at all. Only after wasting thousands of dollars and a year of his life (he

was lucky it was only one year!), he came to realize the true nature of trading. In his pursuit of

further understanding, he found that training and being business-like pay off handsomely and

are truly the fastest, most certain ways to get what he wanted all along – peace of mind and

security in his trading.

The Kiss of Death occurs when a person begins trading with real money knowing only enough to

be dangerous, and their mind closes to learning more. They think that they know all they need

to know to be successful, incorrectly thinking that “all I need is a good system”, and that there’s

nothing else to successful trading.

As they trade in this state of mind, they only reinforce the counterproductive beliefs,

perspectives, habits, routines and emotional responses. Because their mind is closed, their

struggles continue indefinitely, often for 10 or more years.

When you realize that this is a skill-based profession and a real business, you now open your

mind to the roles and realities of the occupation. By acquiring the training to fulfill the roles

and develop yourself into a true business professional, you can then organize your trading to

control time and increase your effectiveness and efficiency.

Looking to the future, you increase the compounding of your efforts and your account. You

also make your life easier and take away the primary reason your subconscious has to sabotage

you.

I hope you’ve found this report enlightening and beneficial. I created it with the intention of

raising your awareness to what I’ve found during my 10 years of helping traders overcome

issues of all sorts.

If you’ve been fighting ‘psychological’ issues, it’s probably just because nobody bothered to tell

you before today, that if you’re trying to do a job for which you’re not properly trained and



organized, it WILL be stressful, filled with mistakes and almost impossible for it not to be an

emotional experience.

Seek out the training to be a complete and truly business-like trader, and not only will you

make your life considerably easier and less stressful, your journey as a trader will be much more

enjoyable and fruitful. It is only by becoming a true professional, capable and trained for all the

roles and functions in this occupation, that you will be able to do all you need to do, and thus

have what you want to have.

You’re okay as you are and you have what it takes to make it as a trader. If there’s anything I

can do to help you, just let me know.

Cheers!

Brian McAboy

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Transcript of Copyright © 2015 to present by New Ireland Ventures, LLC.Trading of commodities, futures, Forex,...