1369: Inside Out Trading: Gain Control and Predictable Results within 60 days with Trading Expert Brian McAboy

Robert Plank 0:01 Hey, we're back, and we're here with Mr. Brian McAboy. And if you're looking to get into this thing called trading, because it's one of the few places you can make money no matter what's happening in the economy, then you're exactly in the right place. But there's a problem trading on the forex and stock market and all these places. It sounds great, but most people don't make money. Mr. Brian McAboy, specialty is properly preparing you to trade in a knowing manner that maximizes returns while keeping risk to a minimum. He has a unique approach. It's been proven over the past 19 years, Inside Out trading.com we're about to have this fun, amazing discussion of if you're tired of settling for less than you know, and we're going to talk about how to consistently become the profitable trader you know you're capable of being so. Mr. Brian, glad to be speaking with you.

Brian McAboy 0:55 Hey, thanks for having me on, Robert. Glad to be here.

Robert Plank 0:57 Happy to have you. It's always good to have a conversation. Find out what people are up to share that knowledge, help the people change lives, show them a better way, and all that good stuff and so trending. What's it all about? What do you

Brian McAboy 1:08 do? Well, what I do? I teach trade. Well, all right, I'm a stock trader, and I teach other traders how to essentially get good at trading, one of the biggest challenges I've found, it's funny, because years ago, when I started helping traders, I had traders coming to me and they're saying, you know, Brian, I'm just having a hard time, you know, controlling my emotions, and so emotional intelligence was, like, the big thing. And others, you know, they're sitting there saying, Well, you know, I don't know if I have some psychological issue, because it's like, I've got a good strategy. I just, you know, keep doing all these stupid things. I can't seem to make money, or I'll make it and I'll give it back. And what I found, because psychology has always been an area of interest for me, anyway, we explored a lot of the common thoughts, you know, as far as self sabotage and all that. And what I found real fast was it's like, you know, you don't have psychological issues. You have lack of training issues. You're trying to do a job that you haven't been prepared for. Nobody taught you how to do this job and how to get good at and that really is the biggest thing. Because I find it hilarious, most of the people that get into trading, especially stock trading, um, are above average. If you look at who they are, you know, they're people that have been able to amass 2515, $100,000 to trade with, and you just plain, you know, it's not the average Joe that can do that. And even in today's world with Prop firms, where you don't need a whole a big pile of money, it's still, it's, this is not where the average Joe shows up. It's people like real estate investors, business owners, professionals, executives, that kind of stuff. So the population overall is above average and has enjoyed above average success in their life. When they get into trading, they look at it, they say, wow, you know, it's easy. I mean, I did the same thing. I'm not judging anybody. I did the same thing. I looked at it, it's like, I get it seems pretty straightforward. And I jumped into it and found out, not that easy. And so I had the good fortune to have a discovery along the way to turn my trading around. Yeah, working with most of the most all these traders, it really it's just the thing about trading is it looks simple on the surface, but and it but it requires skills that are not easy to figure out. And for most people, it takes five to 20 years to just beat your head on a rock long enough that you know you learn what you need to learn, instead of going about it in a more direct manner. And so I have a good time because I I had the good fortune to have the background that I did outside of trading, to let me really find a direct path to it. Prior to prior to trading, I was a quality manager in a manufacturing facility. We're making plastic bottles for like, Coke and Pepsi, Aquafina and Gatorade and stuff. And that's a I mean, Coke and Pepsi are hard customers, and it's like a high volume, high pressure, thin margin situation, and so we had, like, zero margin for error. And as the Quality Manager, it was my job to make sure that we got good, consistent performance out of everybody in the plant. And in my plan, I had 183 people, seven different departments, four different shifts. It's like a huge variety, and it's like but again, I had to make sure we that everybody was doing things the right way and doing it consistently, regardless of who it was what shift. It wasn't all that kind of stuff. And what I was able to do was I took what I was doing with the manufacturing and applied it to my trading, and it was perfect. Because what a lot of people don't understand about quality, I mean, most, most people you've heard of companies like Toyota, right? Well, back in the 70s, they Toyota and Nissan, Honda. They made cute, cheap little cars. And everybody liked them because they were cute, cheap little cars, but they were kind of crappy. And the the Japanese got they got tired of that. I mean, after World War Two, their economy had been decimated. Then, you know, they had made some inroads coming back. But in the 70s. These, they decided to hire Edward Deming. He's kind of like the father of quality assurance. And what they what they did is they learned that by focusing on quality and adopting his philosophy of quality assurance, that they could make a much better car. They could do it for a lot cheaper, and it rebuilt their reputation and made them really profitable. And that's why Toyota is in a position that it's in nowadays. I mean, starting in the 80s, it's like, you know, people say you want a good car, you buy a Toyota. They just went to that reputation, but they found that it's really good business as well. But what I loved about quality is it's kind of like success by design. Now the one of the big shifts that's applicable for traders, really, any business, whether you're a marketer or real estate investor or whatever. Before this shift that Japan made and has been made everywhere else since you had quality control, where it's like, whatever it is you're doing, whatever it is you're making, you have inspectors there to, you know, kick back, you know, pick that product off the line, make sure it doesn't get out the door to the customer. Door to the customer. And that's how everybody rants. Production runs and quality is over there, you know, catching stuff. And that's how it worked, well with quality assurance. The cool thing about it was they said, well, let's, let's, you know, we're still going to check our product. We're going to focus on the process, make sure that we really got our process dialed in for making good product. We're going to pay real close attention to that so we have a really solid process so that we know that what's going down the line is good product. And it became very process focused, and it proved out to be extremely smart business well, in manufacturing, what? That's where the majority of my time was spent, is defining jobs and activities, processes, business processes, but the people part of it, and setting up the training so that we would get good, consistent performance out everybody. So it was both the process side and the training side. But when I brought that over to my trading, that's what helped me turn things around, because my first year trading, I didn't know what I was doing. It looked easy enough, when I was flying by the seat of my pants, I felt like I was having a heart attack most of the time, because I knew what. I didn't know what I was doing. But it's like, you know the thrill ride, you win some, you lose some, you hand it back, all that kind of stuff. And so when I took what I was doing at work and I applied it to my training, and let me really settle down, get really focused, get clear on what I was doing, hone it in so had a good, repeatable process and test it out again, from quality, on how to test it out properly, and then to also do the training so that I can execute consistently. Now, instead of flying by the seat of my pants, and this is what I teach others, instead of going about it that way, now we can be very intentional about it and say, All right, I'm going to trade in this specific manner. I'm looking for these specific conditions. I have this specific strategy. I've tested it, I know it works, and I've got a really good, solid process so that it's consistent and I can go to the markets. And instead of being gambling now I'm being very intentional. I'm going into a very, very risk averse it's like, no, I'm going to make I'm going to make sure me is the big variable and everything, that I'm solid and I've got a good, consistent process so that I can take a good strategy and I can execute it over and over and over again very consistently, and keep getting those good, you know, good results. And that's like, the big difference in the trading world. You got basically two groups. You have those that are selling. I call it hard side, where it's like systems and signals and strategies. And on the other side, you got the big trading psychology crowd that says, you know, just learn to control your emotions and be more, you know, be more disciplined. And you know, that's because everybody's thinking that's all it takes is, you know, just find a strategy and figure out how to stick to them. It's like, No, you actually need, you need to learn how to develop a good, consistent process and then also build the confidence with it, build the skill with it, and the competence. That's when you can really get good with trading. And the cool thing is, trading is simpler than most of the most of the jobs that people you know have as their day job. I'll tell people all the time, you know, they're looking at trading, it's like, it's so hard. It's like, no, it's like, Dude, you're a project manager, you're a software engineer, you own your own business that's way more complex and sophisticated than trading, and you handle that just fine. You're just trying to do a job you haven't been trained how to do. No wonder it's rough and it's stressful and it's emotional. Yeah, because, you know, it requires this level of skill, and you're down here, well, yeah, any job is going to be rough if you're not properly prepared for it, and the quality stuff that I learned again in manufacturing was absolutely perfect for traders. And I love it, because I can usually get people turned around in like, two months, 60 days is the average. And it's cool, because a lot of these guys come to me they've been trading for like, 458, 10 years, still not really where they want to be, and we get things turned around in a big hurry. And it's like a redemption form. It's like, Yeah, I'm not a loser. I actually can do this. It's just nobody ever took you know, this is the one thing I was missing, is like, how to actually do this. That's fun. Now, reason I was thrilled that you asked me on to this podcast, I get, I get people coming from all. Different vocations and occupations, you know, they're interested in trading, especially when we have, you know, kind of some scary stuff with the economy going on, like what we've had of recent years, people want to look to trading. Because, yeah, if it's a down economy, or if there's, you know, you know, there's a lot of lot of hype about, you know, the potential recession and all that stuff, trading is a great place. Because, yeah, you can make money in money no matter what's what's going on the economy, but you really got to step into it, pay the occupation, the proper respect, learn what you need to learn to be good at it, not just jump into a treating like an entry level job, and then you actually do stand a chance. But for most people, and like I said, I did the same thing. I jumped into it, and for a whole year, I was flying by the seat of my pants. I really didn't know what I was doing. I made money, and then I went up, blowing up my account. But it's like, with just like, Well, I mean, you teach marketing and business, right? That's your main thing. So same thing there on the surface. And can you explain it? You know, can you tell somebody what you do in 30 seconds. Sure. Is that enough to go do the job? No, there's tons of details and skills to go with it. And so trading is no different. It's just It looks so simple, yeah, it's so easy for people to underestimate. And again, I did the same thing, but that's I mean, in a nutshell, yeah, that's what I do. And it's funny, because I've even gotten in debates with guys that have written books on trading psychology, and they're saying, Oh, no, you know they're really a psychological issues people have. You know, their mommy said something to them and they were five years old, they traumatized them, and that's why they can't trade. And it's like, no, they're fine. I mean, childhood is traumatic for everybody. Because we were children, we didn't know how to deal with the world. Did we? Did we? Did everybody experience trauma? Sure, is that keeping you from trading? No, that's it's your trading experience. So, right, um, but yeah. Again, I'm glad you have had me on here, though, because if, if anybody's thinking about getting into trading, just seriously pay it the proper respect. And it can be wonderful. It really can. It can be awesome, especially if you're looking to retire. You're tired of what you're doing now, if you just want to add an extra, you know, do something, doing something money. You know, with the money that you saved up, you want to put it somewhere where you can get a good return because of trading. The cool thing is, you can't get a killer return instead of, like, seven to 10% you know, in, you know, like a 401, K or whatever, realistically, you can, you can't double your money every every year trading. And that's not being aggressive about it. To make eight, 10% a month is very realistic. And people should expect that, because it's not passive. You are actively trading. You're actually it's a self employed job. It's not a passive one where you just hand off your money so but yeah, it's fun, and it can be really good if you treat it properly. You go about it the right way. Develop yourself as a trader, get yourself skilled up. They can be really good. And again, no matter what's going on in the economy. I mean, you know, a few weeks ago, when everybody's scared to death with tariffs, and, you know, the markets are going crazy and everything, a lot of people are losing their minds. The traders are like, cool, yeah, the markets moving. We're making money.

Robert Plank 13:04 Yeah, volatility. I can, I can really get to work now. And so a lot of things off the bat, because the that whole, the whole idea of like, well, we like, we all took some bad stuff from childhood, right? No one got out of childhood unscathed. But to say that, that that's limiting your trading, it makes it seem like they're like, it can't be fixed, or that there's so much work to be done. And so I like your approach a lot better where you say, like, okay, there, there is that emotional intelligence you have to maybe, like, work on yourself secondarily, but you're saying that it's all about not just the strategy, but the process and figuring out, what are your conditions? What are your rules? How do you make these decisions? How do you know that it's working? Have you tested it? So that way you have the confidence from using it and the competence, so that way you operate this a lot better. And people talk about making money, and they look into these things like, well, do I do rent out a room, or do I drive for Uber, and those are all great ways to make envipa. Boy is that hard, right? Boy, is that tough digging a ditch, or if you drive the Uber car, then someone throws up in your back seat, and you have to drive all around and tear up your car and and deal with traffic and rude customers, and like there's a way, there's hard ways to make money and easier ways to make money. And so you're not saying that this whole trading thing is hands free, but what is the like, the maybe the time commitment and like, the daily lifestyle and it has, if someone like you is trading, is it like a part time, full time? Like, what are the activities being done?

Brian McAboy 14:37 Well, actually, that's really good question. I'm glad you asked, because when you hear people talk about trading, you'll hear a lot of people say, Well, you don't want to be a full time trader. Most of the people that come to me for help are looking to trade from like two to three hours a day. That's their trading hours, like, you know, maybe like nine to noon, and that's it. And. And they found that if they go beyond that, unless they just really love watching the church, and even if they do, it's kind of counterproductive to try to make it like a full eight hour day. And so to have trading hours of three hours a day works very well. And you can make plenty of money. I mean, you make full time income off of it, seriously, very easily. If you want to day trade, if you want to swing trade where you in positions for, you know, a few days to a few weeks, or even longer term trades. The nice thing about it is the flexibility is there you can trade however you want. I mean, a lot of traders. This one I'm working with down in New Zealand, he he's doing end of an eight and day trading where he only needs to spend about a half an hour each day, and that's it. And he's making, I mean, he's making good, really good money. So it affords the occupation, affords a tremendous amount of flexibility. There are tons of things that are really good about this business. I mean, as far as barriers to entry, there are almost none. You don't have to have a decree. You don't have to, heck, you don't even have to have money anymore. Used to be where you had to have at least $10,000 to be even halfway realistic about it. Now there are these prop firms where you can get a funded account and trade the prop firms money and get the lion's share of the profits. And the cool thing about those is all you really have to do is demonstrate the skill to make money as a trader, and they're happy to let you trade their their account. And so it's like I said, it's the opportunity is really good. And then one of the best things about it is a recession proof business, you can make money no matter what's going on the economy is up or down. You can make the same kind of money as when things are going great, and you don't have to worry about it. You can take time off. Unlike other businesses, if you take time off, you want to take six months, go travel, you know, travel around the world for six months and come back. It's like you never left other businesses that would kill the business. Great. So you and you want to change what you're doing, change tomorrow, and you don't have to, like, you know, restock the store and, you know, spend a half million dollars, you know, changing your brick and mortar operations. Like, you just make the decision and you do it so it there are, there's a long list. Actually, years ago I did a video. It was like, the 10 things that are great about trading as a business, and they really are a ton of advantages and this barrier to entry is like said, it's virtually zero, except the big thing is, if you come into a naive you don't treat it with proper respect. You don't approach it from a perspective that you're going to get good at it and actually know what you're doing if you try to shortcut it. That's the price you'll pay. Other than that, as long as you pay at the proper respect doors are open to anybody doesn't have tall, short, skinny, fat, ugly, pretty, smart, it doesn't matter. And yeah, it's not that tough. You don't have to have a super complex strategy, just a reasonable work ethic, a reasonable discipline, and the willingness to grow on and develop yourself. And that really is the main key to it, that's, it's awesome. I mean, it can be, it can be fantastic, even age wise. Um, I've had some clients in, you know, early 20s, doing fine, making a really nice living, and clear up until, I mean, when I go one guy, he's 82 years old, he just, he's retired, but he trades because he wants to have something fun to do all day, and might as well be making money at it. So, yeah, that's pretty awesome.

Robert Plank 18:32 It is, yeah, yeah. And so you only have a few minutes left here, but I want to make sure we have put in, like, a little bit of a taste, a tease of what to do. And you mentioned some various things, right? You mentioned that you put on videos, and there's youtube.com/singer, Brian. With that, you talk about how most traders struggle to make the kind of money they desire from their trading, even if they've been at it for a significant period of time. And there's all these like psychological mistakes make. And there's also inside out trading.com where you have this excellent book called break the cycle, 10 things you can do in the next 19 minutes to interrupt the patterns of the past and stop handing back your profits. And as far as giving us an idea of what this is all about, people always have like an approach, a system, right? Some people say, well, use these four quadrants, dollar cost, average, get big into dividend. What's your take on all this?

Brian McAboy 19:29 Um, well, when it comes to strategy and hours and what you want to trade, use whatever works for you. There is no magic strategy. There are. There are literally dozens of good strategies that work. Been around for decades, and they work. There's people making money with so there's not a magic strategy. The the magic and the secret sauce for trading is getting finding what resonates with you as a person. So whatever, whatever you want to trade, whether it's stocks or crypto. Forex doesn't matter. Trade what you like to trade, what feels good to trade, trade with a strategy that works for you, trade the hours that you want to trade. And that way, if you're working with what works for you, you won't have that internal conflict of trying to copy somebody else, but there you have some internal conflict or something where you have a resistance to it. You can trade with what works for you, and then just focus on getting good at it, learning the skills to get good at this. Because when you get good, it's pretty easy, and it's really just a matter of skilling up and knowing how to get good, how to be clear about what you're doing, how to build the confidence with it and the competence. So yeah, you may just have one strategy command, if you're really good at it, and you can do it over and over and over again, you got that consistency. That's how you make money. And it just, it is that straightforward. That's the cool thing about

Robert Plank 20:51 Yeah, and that's reassuring, right? That it's a skill like any other that can be learned. Yep,

Brian McAboy 20:57 yeah, indeed. It's, it's, you don't need a year on the therapist couch. You don't now is there, is there a psychological aspect to it? Sure, but when you're operating from a position of knowing and confidence, most, almost all those other psychological issues fall away. The biggest thing with psychology of trading, I'd say, is the damage that people undergo in those early months when they're trading with real money and they don't know what they're doing. That's the damage that needs to be undone. But by going through the right training, getting skilled up, getting the right perspectives, and developing the skills and competence with your own hands, usually address it, it'll undo that damage and let you get on the right path where you're at. It's like, you know what you're doing, you have something that works, and you know that you're solid trading it cool. Let's, let's just go, yeah, it works. I've been doing it for 19 years, and it's, I love it because it unless somebody's just, like, got serious personal issues, this works every single time, because, like, skill based,

Robert Plank 21:56 right? Yeah. And you figure, say, you learn the skill of driving a car, right? You learn the rules of the road, you take the driver's test, get your permit, get your license, those first few months, you're more careful versus if you just said I'll hop in the car, and if I crash the car, well then I'll just hop again, and I hope I don't crash it again. And you hope that even if you do crash it, then you live to tell about it. But it seems like the way that many people approach money in general, but also the stock market is just, hey, I'll gamble, and aren't even realized I'm gambling, and just roll the dice and see what happens. And if not, then I'll just pick myself back up. But then you don't get that money back. And it makes a lot more sense to be a little more studied in this little more careful, have a plan, I think you mentioned in there, like practice first, before you do it with real money. And there's definitely a better way to go about this. And if someone is energized, excited about the possibility of using their brain to build their wealth and to build that nest egg and and not get with the frustration, the emotions and kind of use your more enlightened path. What are some next steps here? Where should someone go? What should they do?

Brian McAboy 23:06 Well, as far as helping somebody who's like first just starting out, I do recommend my site, because, again, I do help you focus on what to do to become a good trader. As far as strategy, other than that, really just, you know, be thinking about what, what makes sense for you to trade. What do you like trading? Do currency pairs in the forex market make sense? Crypto makes sense. Does it feel right? Stocks or commodities? For me, it was commodities, just to me, they made sense. And so from there, then you need to get set on, you know, what? What are you what are your goals, your personal goals, financial goals, financial goals, if you're looking to invest in a business, does this make sense as a business, to invest in it? Once you got that stuff figured out, then you can get into the trading details and start, you know, sorting through. And I've had conversation where I help people sort through all the different questions on what to pursue, and, you know, how to go, how to go about doing it, and really just getting through all the questions, making the decisions just to get started. I do that on a regular basis, because there are there, just like any other business, there are a lot of different variables, a lot of different questions to ask, How am I going to specifically be going about this? But then, yeah, once, once we get through those that's matter, just like said, picking a strategy, making sure you got the, you know, the skills, and, you know, good process, and it's very straightforward. So taking that approach, I don't know if I answered your question, but I mean, that really is the path, and odd as it sounds, and it still blows me away. I've been doing this 19 years. I'm the only one that I know of that takes this approach to it. Most everybody else is saying, hey, buy my strategy. Or here, you know, let's, let's get you signed up for a year's worth of therapy sessions. And it's like, no, just it's, it's a it's a job, it's an occupation. There's a skill set that goes learn, a skill set you already have what it takes. You've already proven that you have what it takes. Yeah, and so let's just train you up on, I mean, so many people, you'd be amazed. I've had people come to me. Guys are making, like, 400,000 a year, killing it outside of trading. Trading can't make $1 you put a gun to their head. That's like, they just can't make it happen. And it's like, no, you dude, you have what it takes. You're good with money. You're good with business. I mean, the whole nine yards, you've got it. Just learn this job.

Robert Plank 25:17 Yeah, you've been learningjobs your whole life, right? Even in school, you're learning how to how to multiply numbers, and then you've got different professions, and it's like no other, and you need to believe in yourself and know it's possible, and get the guidance and help from someone like Mr. Brian McAboy. And where's the next step? Like, what's a website? Address, URL, where someone should go?

Brian McAboy 25:38 Well inside out trading.com, and I've got a variety of free resources there, everything from, you know how to pick a trading strategy. I've got a scorecard so you can, you know, there's a questionnaire survey, so you can go through there and see how, see what you're doing right as a trader, what you're missing. That was real popular. Got a guide on how to make consistent monthly profits. Got a whole bunch of free stuff I've created over the years. So yeah, swing by inside out trading.com grab some of the free stuff. Start, you know, dipping your toe in the water, getting to know what it's about. If you got questions, feel free to book a call with me. More more than happy to jump on a zoom call or phone call answer your questions. Who would see what your best path forward is. So I'm very happy to

Robert Plank 26:18 very nice. Well, that is inside out trading.com. You can get the resources of a right yellow button. You can find them about some of those books you mentioned. There's perfect trading strategy, monthly profits that is inside out trading.com. Go there right now and take that next step. Get that very powerful and short guide, break the cycle and get educated and get on this path to not just winging it, not just leave it up to the universe, but actually apply those smarts and make some money. And before I let you go, Mr. Brian, it's time for the scary part of the show where I try to put you on the spot. I try to stump you by asking about a fun quote or lesson that has served you in life or in business. So what do you have for a fun quote or lesson?

Brian McAboy 27:07 Well, it's one, actually one of the favorites, generally applied to trading, but from Quality Assurance, it really applies to any business, but in the context of trading, my favorite quote is with trading an average or even mediocre strategy will out that's executed consistently, will outperform and make more money than a great strategy executed inconsistent. And like I said, that's kind of the fundamental thing about quality assurance, no matter what it is you want to do, if you, if you get yourself a decent process and you can execute consistently on it, that's going to serve you well than being all over the place and it, and, like said, that's, that's like, the big lesson from Quality Assurance. There's tons of money in that. There really is the better you can get. And just getting clear on what you're doing and getting consistent at it, there's, there's huge money in that, because every time you deviate and you're inconsistent, that's scrap, and that all comes off the bottom line. So if you're eliminating costs, it's automatically going to the bottom line. And like seeing with Toyota and Lexus and all the Japanese car companies and stuff they became, they went from struggling and, you know, being, you know, cute, cheap, crappy little cars to where they dominate the market, and it's awesome. And like said, there's tons of money and plus, just makes things more fun.

Robert Plank 28:27 Yeah, yeah, it's more fun. Get better results. Well, that's powerful and useful to be consistent and stick with your strategy. And you can find out more about that by going to insight out trading.com We've been speaking with Mr. Brian, last name, M, C, A, B, O, Y, we'll see you there at insideout trading.com and thank you, Mr. Brian, for educating us and telling us what we need to know. I really appreciate you being here.

Brian McAboy 28:51 All right, thanks for having me on again, Robert, thanks for everybody for being here to you know better yourselves and learn and grow as a professional. So cheers.