Recession Business Ideas

Lifestyle Behind The Business Of Trading

David holds an interview with Trader Mark McRae over his interests outside of trading.

Mark: There was a good friend of mine at one point who wanted to try trading, and his question to me was exactly how difficult it was. My answer was: “I’m actually psychic. I’ll prove it to you, I’ll show you how easy this market is.” At that time it was the first Friday of that month, and the time was eight thirty, Eastern standard time. I put him on the market and told him that it was going to go up, or it was going to go down in about thirty seconds, but it was going to go in one direction regardless. Naturally he did not believe me.

As he watched, he was amazed when the market went up two hundred points in the period of time that I had predicted. He asked me if I could always do that, and I said yes. You have to understand that this was the time before news trading became popular. Predicting what will happen with money management is hard, and staying in the game is of crucial importance.

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.

So even though a large part of your trading — you really have to be active in trading if you are going to be active, even if you use daily charts, you have to monitor it on a regular basis. So when I can’t, on occasions like this, the royalties, or the money that I make from selling books and courses, or I don’t teach people anymore, but the little money that I make from the other interests in trading is what helps support me.

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: Well that’s a pretty good answer. I feel you’ve answers all the questions about stock trading systems I can think of. What kind of money do you need to make to do this full time? Should other people involved in trading try other interests? Should other people actually do this?

Mark: I think you should do it. As long as it is morally acceptable to you, there is nothing wrong with doing anything inside the business of trading or any other business that you want to do.

Tags: business of trading, trading system stock trading system