The Essential Details On The Business Of Trading

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David conducts and interview with Mark McRae regarding why he pursues other endeavors outside of trading.

Mark: I remember there was a friend of mine who wanted to get into trading, and he wanted to know if it was hard or difficult, and I said to him, “I’m actually psychic. I’ll prove it to you, I’ll show you how easy this market is.” It was the first Friday of the month, and it was 8:30, New York time, and I put him down on the market and said, “In thirty seconds, this market is going to shoot up — or down, but it is definitely going to go one way”, and he said “I don’t believe you.”

He watched, and like clockwork the market jumped about two hundred points in thirty seconds. He was utterly amazed, and wondered if I could do it every single time. This was before news trading was popular. It’s impossible to predict what will happen with your money management, which means remaining in the game is very important.

David: Okay, so I have a question that I really didn’t want to ask because it tends to mess things up constant, but it’s one that people want to know. If you’re such a success, then why do you teach others to do it as well? I mean, wouldn’t it be a better option to just use your trading system quietly somewhere, making the money all for yourself?

Mark: That’s not a bad question, and it’s actually a pretty simple answer. Why do I do anything I do? I do it to make money. This is why I teach others how to use the market. Almost no one would be able to use the market if someone didn’t teach them the business of trading, and money should be the primary goal. For instance, I’m not trading right now.

Throughout your trading career, you need to be active. Sure, you might be using daily charts to keep track, but you need to watch them as often as possible. Right now I’m making money. Copies of my books are being sold and I’m making royalties from them, and that miniscule amount of money will help me to get by.

Trading has it’s ups and downs, and teaching takes out those fluctuations. It takes off the pressure of trading, and allows me to do what I’m doing right now, which is coming over here and talking to you guys. So why do I do it? I do it to make money, nothing more, nothing less.

David: I think that’s a good answer. What are your thoughts on how much money do you need to actually make trading your full-time gig. Should other people look at other things as well, like yourself? You’ve got courses about stock trading system and things like that that you do. Is that something that other people should aspire to, or what are your thoughts on that?

Mark: In all honesty, this is something that anyone could do to make extra money on the side, and if you are comfortable with it, then go for it.

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