Find Out What You Need On The Business Of Trading
David conducts and interview with Mark McRae regarding why he pursues other endeavors 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.
And he's watching this and the market leaped like 200 points in 30 seconds, and he goes "Wow! Can you do this every time?" Yes, that was actually before news trading became so popular. You can't predict what is going to happen to your money management, and staying in the game is the most important part.
David: Okay. This leads me to a question I do want to ask, because it is one thing that crops up all the time. People always like to know, if you are so successful trading the markets, why is that you are out there teaching others how to do it? Wouldn't you be better off trading the markets using your own trading system and sitting on the beach somewhere just counting your dollars?
Mark: Well that's actually pretty simple, I do it to make money. That's the exact reason I teach people how to take advantage of the market and learn the business of trading. No matter what, your goal should be to make money, and there are many parts of trading that you probably wouldn't be able to learn unless someone taught you. Right now, I'm sitting in Australia and I'm not trading.
During a large part of your trading you have to be active, even if you're using daily charts you need to keep an eye on it, and you need to do it regularly. Even though I can't at times like this, there are royalties I make from my book sales and courses, but the small amount of money I make from other interests is what keeps me afloat.
It takes out the fluctuations if you like, because trading, regardless of how well you do, has ups and downs. So the teaching part, or the educational part, brings in enough income to take the pressure off when I'm not trading, and affords me the luxury of doing things like this, coming over here and seeing you guys. So why do I teach if I'm so successful trading? To make money.
[spin]David: That pretty much answers it all regarding about stock trading system The last thing I want to know is how much money do you need to make this your full time job? Should those in trading actually branch out and try other interests?
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. - 23310
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.
And he's watching this and the market leaped like 200 points in 30 seconds, and he goes "Wow! Can you do this every time?" Yes, that was actually before news trading became so popular. You can't predict what is going to happen to your money management, and staying in the game is the most important part.
David: Okay. This leads me to a question I do want to ask, because it is one thing that crops up all the time. People always like to know, if you are so successful trading the markets, why is that you are out there teaching others how to do it? Wouldn't you be better off trading the markets using your own trading system and sitting on the beach somewhere just counting your dollars?
Mark: Well that's actually pretty simple, I do it to make money. That's the exact reason I teach people how to take advantage of the market and learn the business of trading. No matter what, your goal should be to make money, and there are many parts of trading that you probably wouldn't be able to learn unless someone taught you. Right now, I'm sitting in Australia and I'm not trading.
During a large part of your trading you have to be active, even if you're using daily charts you need to keep an eye on it, and you need to do it regularly. Even though I can't at times like this, there are royalties I make from my book sales and courses, but the small amount of money I make from other interests is what keeps me afloat.
It takes out the fluctuations if you like, because trading, regardless of how well you do, has ups and downs. So the teaching part, or the educational part, brings in enough income to take the pressure off when I'm not trading, and affords me the luxury of doing things like this, coming over here and seeing you guys. So why do I teach if I'm so successful trading? To make money.
[spin]David: That pretty much answers it all regarding about stock trading system The last thing I want to know is how much money do you need to make this your full time job? Should those in trading actually branch out and try other interests?
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. - 23310
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