17 September 2019

Do You Own A Simple Trading Business?

"A simple trading process is the best business you can own. It's the perpetual income stream you seek."

--The Trader
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Business owners are the backbone of the world… and that’s always been the case.

Think you don’t own a business? Think again. Even if you’re an employee, you still own a business. It’s just that you have a single buyer for your only product… your time.

“Yes, but I’m on salary,” you say?

If you do the math on the hours you ACTUALLY commit to your employer (on call, working on projects at home, and the time you spend thinking about work when you’re not there), you’ll likely find that hourly workers do far better than you.

Choosing to not simply be the day laborer or the gig worker, but someone who actually owns something is a better way to go. At minimum, you want to have multiple streams of income as opposed to 1 stream from a single employer.

You might own a permission asset–the right people, offering you their attention and trust like a lawyer or a doctor. You might own a lease or a patent or some other form of property such as an inventor would. You might also own a reputation, one that earns you better projects and a bigger say in what happens next. Finally, you might own something akin to what I’ve had the pleasure of “owning” for more than a decade… a profitable trading process.

As we close the summer season and prepare to open the fall, it’s worth considering what you “own” and far more usefully, how you can leverage what you know (or can learn) to create additional income streams.

If we’re all shopkeepers, what is your product? If you own nothing but the next eight to twelve hours of your time, for sale to the highest bidder, you may be disappointed in the bids you get… and how long you continue to even get bids at all.

Last week 1 of my day traders nearly had a losing day. Then, on his last trade of the day he recovered the losses he’d incurred and managed to get “flat” for the day.

Here’s a part of our conversation following the morning session.




That’s why this day trader keeps showing up.

And it's why you should keep showing up. So that you can give yourself a chance to earn what you’re worth. Even better, so that you can earn multiples of what you’re worth.

No business gives you a better chance to do that than simple day trading.

But then you knew that already😎.

Trade well.