We are all naturally born entrepreneurs.
End of story….
Because, what is an entrepreneur?
It’s somebody that sells something for return, right? Click above to read more…
So here we are, beginning of September and an awesome time of the year.
This has got to be one of my favourite times of the year, for so many reasons. (Click here to watch the video 17 mins)
Of course, one of them, I’m a little bit biased, of course, it’s my birthday month and I love it.
And also when I used to live in South Africa, until I left a few years ago, it’s also the first … It’s spring, it’s the first month of spring, which is always very good.
But aside from all of that, the other reason I really love September is that it’s a phenomenal month to review, to reflect back on my targets for the beginning of the year.
What were my goals…
What were my targets….
And assess where I’m at.
Am I on course?
How far off course am I?
So a great opportunity to review, to take a look at what’s worked, what’s not worked, and to tweak.
And there’s enough time for the rest of the year to actually change course, alter some of the ways in which I’m doing things and get back on track for it and enough time for it to have an impact that will get me either to achieving my goal or certainly a hell of a lot closer to goal, that would ensure that the following year I would actually achieve it.
So this is a brilliant time of the year to do that.
So with that in mind, over the next number of weeks, I’m going to be focusing these blogs very much on looking at how you can tweak your trading and your approach to your trading and how you actually take action now to have a significant impact by the end of the year.
Not just in reviewing but taking action now to start getting the results that you would really love before the end of the year.
And so one of the things, that I want to be focusing on over the next few weeks here in the blogs but also in The Trading Community (our awesome closed Facebook group, where I actually go deeper and really deeper, a lot deeper into these topics), but I will talk about them here over the next few weeks and give you pointers on and things that you can actually do and apply to your trading to start getting results.
So you start getting your monthly target each month right now…
I’m sure you had a target at the beginning of the year are you reaching that target?
Are you getting green months, at least?
Are you consistently up or in profit each month?
And if so, great.
That’s something to work with.
You’ve got something to work with that.
If you are not consistently green each month, consistently getting profit each month, well then we need to get there.
We need to get you profitable as a starting point.
So no matter if you are not getting green at the end of the month, every month consistently or you are getting them and just not reaching target.
What I’m going to share with you over the next few weeks is going to really, really help you to do that. Okay?
If you implement what I suggest, okay?
These blogs are not interactive, they’re purely teach and purely content driven, but inside the Trading Community, (CLICK HERE to join), I will be doing a deep dive with Q&A inside this group twice a week.
If you want to join us, it’s free.
It’s a great community.
I go deep twice a week on Tuesday and Thursday. I go really deep and I’ll answer all your questions on it as well.
So with that being said, what I want to focus on today is it’s a mindset shift in your trading.
Most people who get into trading, they’re … Well, most people who get into trading, they have a fantastical idea of what it is that they would love to achieve.
I’ve heard figures of people wanting like 20 million or 50 million or whatever.
And even more and some less, but some fantastical ideas that they want to get out of trading and that there’s no relationship to reality.
I mean if you were to start a new business, for example, will you be saying that you want to get 50 million out of this or 20 million out of this in the next couple of years?
It’s unlikely because when it comes to business, we have a more practical approach to business as entrepreneurs.
Now here’s the thing, don’t tell me you’re not an entrepreneur.
If you’ve got a full time job and that’s your career and you don’t work for yourself, so to speak, or you don’t have your own business or you haven’t got your own business or an owner of your own business or sole trader or whatever it is.
If you’re not that, do not say to me or do not say to yourself, more importantly, that you’re not an entrepreneur, because you are.
We are all naturally born entrepreneurs.
End of story….
Because, what is an entrepreneur?
It’s somebody that sells something for return, right?
We all sell all the time.
Every living moment, every breathing, living moment that we live, we are selling.
We’re selling ourselves.
We sell ourselves all the time when we go to interviews, when we’re in our job, everything we do in our job, in our relationships, as a parent, as a daughter, as a son, as a father, as a mother, as a colleague, as anything you do.
Anything, when you go shopping, everything you do, you’re selling yourself.
When you get up in the morning, you shower, you dress, how you present yourself.
That is selling in return for something.
Acknowledgement, respect, achieve … getting what you want out of a situation.
We’re all naturally born entrepreneurs, right from when the baby is born with big, beautiful eyes that looks at mommy or daddy and that ensures that there’s that bond, that that baby is letting that parent know that they’re very vulnerable.
Please look after me, please take care of me.
That baby is being an entrepreneur!!!!!!!!!
So we’re all naturally born entrepreneurs.
So with that in mind, I want to suggest to you that your business, your trading is your business.
Be an entrepreneur in your trading.
There is a tendency out there with traders to sort of throw caution to the wind and dissociate all their natural born entrepreneurial tendencies where there is risk management in everything we do.
We risk manage everything we do.
Whether it’s jobs you apply for,
interviews you go to,
how you portray yourself in an interview,
how you are in your job,
how you are in your career,
how you are in your relationship,
how you are as a parent or as a daughter or a son.
Everything we do we risk manage.
When we go and purchase our first home, our second home, or make investments, everything is risk managed.
Why? Why oh why then do so many traders throw that out and disregard that risk management component which they inherently have and throw caution to the wind and trade as a gambler?
I look at some of the stuff that goes on with traders and it’s just crazy.
So what I want to focus on this week is you’ve got to be trading as a business.
Put your business hat on, put your career hat on, put your natural born entrepreneurial skills hat on, and you will make very, very different decisions in your trading.
It’ll transform your trading.
I had one chap, speaking to recently, and he has a tendency to put on his trades and push out the stop loss, for example.
And a lot of guys do this.
That’s not trading as a business.
If you’ve got your own business, you’re not going to do that.
You’re not going to invest in a property that’s on marshland, for example. You know you’re not going to buy a home that is sitting on marshland where he’s got an 80% chance of subsiding …
That’s high risk.
You’re not going to do that.
Then why do it when you’re trading?
Why risk your money when you’re trading?
Why push out your stop loss?
And there’s one reason for that.
One reason for that and that is a need to be right.
There’s no place for being right or wrong in the market.
The market’s always right.
There’s no ways little me and little you and little all of us little traders around the world can individually be right against something as massive as a $5 trillion a day moving machine.
There’s just no ways.
There’s no ways.
The market’s always right.
All we can do is increase the probabilities of the trades we select.
And consistently taking a little bit from the market.
That’s what we need to do and the way to do that is with discipline.
It’s with having an entrepreneurial hat on and approaching it from a managed risk perspective.
I’ve heard it been said another way, be the house, not the gambler.
But I personally prefer to use the language around business because that’s what it is.
When you’re trading you’re wealth building.
Look at the wealth building as a business venture. Okay?
So when you do that, you have a very different look and aspect and approach to it.
You’re way more … risk managed.
You make sure you increase the probabilities in your favour.
You will be disciplined.
You’ll be realistic as well.
In a business, you’re realistic about what it is that you are wanting to achieve.
Most importantly, you won’t gamble your business on rash decisions, on emotional decisions.
You won’t do that.
But the overarching part of having a business that is severely lacking in traders is having a plan.
98% of traders do not have a plan.
Would you start a business without a plan?
There’s no freaking way you would do that.
There’s no ways you would actually go to a bank or venture capitalists or funders without a business plan, would you?
There’s no ways.
So why start a trading business without a plan?
So that is number one, have a plan.
And in that plan, how are you going to risk manage?
In that plan, how are you going to address your business as an entrepreneur?
Think about it.
Your trading business as an entrepreneur.
Here’s another thing. Would you take breaks from your business?
It’s your business.
Are you going to disappear off the radar for six weeks and not trade for six weeks?
Or are you going to be sporadic about your business?
Are you going to trade this week, not next week or the week after that.
No freaking ways.
If it’s your business, you won’t do that.
Why do you do that in trading?
I really got outraged recently at an event that I had with traders. People telling me they don’t have time.
If you don’t have time you stop trading because it’s not important enough to you.
Now don’t get me wrong, we all need holidays, we all need breaks. We all need downtime. That’s Completely different.
And as an entrepreneur, you will appreciate and you will know that that is very important.
It is vital to have downtime but plan it.
I calculate my year, my returns is based on the fact that on average I’ll have one month not trading and one month in drawdown. So 10 months I’ll have profitable.
So that’s how I manage my year.
So I know the target I want and it’s based on having, reaching my target in 10 out of the 12 months, having a drawdown in one month and not trading for an equivalent of one month.
So that’s perfectly normal, but it’s disciplined, it’s planned.
It’s a big difference between that and having a sporadic approach to your trading.
If you do not have time to do what it takes to manage your business of trading, stop trading or make it important enough to you that you make the time.
We’ve all got the same 24 hours.
Make the time.
You will never ever have a business that you’ve invested in because let’s face it, you’ve all invested in trading, you’ve all invested, not just money but valuable time, the most important, the most valuable asset that we all have, time, into trading.
So you’ve invested that time, you’ve invested that money now and if that was a real business would you be haphazard about it?
That you will decide you’ll dip into it now but not tomorrow?
You’ll dip into it next week but not the week after and so on?
Would you do that?
No you would not.
And unless you are treating your trading as a business where you are disciplined, you have routine and you are inspired by it.
Don’t do it.
All you’re doing is creating frustration for yourself, creating chaos for yourself.
But if you genuinely want to receive and to gain the incredible gifts that trading can give you, trade as a business.
Put your entrepreneurial hat on and be committed to wealth building.
Because that is the business you have. Name it, put a name on it.
What is your trading business?
What is your wealth building business?
Make it a name that inspires you.
Anyway, I’m going to leave you with that. I hope that really, really helped. Just change the way in which you’re looking at your trading. Be disciplined about it by having an approach of a business.
Now, join me in the trading community because tomorrow at one o’clock, I’m going to go much, much deeper into how practically you can actually trade as a business.
So go join us. CLICK HERE to join.
Join us in the trading community.
One o’clock tomorrow 3 Septebmer, I’m going to go deeper into how you can actually practically, day-by-day, day after day, week after week, actually trade as a business. If you listen to the recording – and missed the LIVE – you can find it under VIDEOS on the FB group.
And then I want you to do is I want you to share with me some of the names that you’ve come up with for your trading business.
So I’ll catch you tomorrow. Have a wonderful day. Take care. Bye.