Payback Time13 Des 2022

S02E56 - Brian McAboy - Do you want to replace your day job and become a trader?

Do you want to replace your day job and become a trader? My next guest is a mechanical engineer and quality assurance professional by trade who became a full-time trader in the 2000s. In this episode, he talks about the risks and rewards, his average returns, expectations on how long it takes to learn his strategy and systems, and how many hours of work this requires per week. Please welcome Brian McAboy.

Key Timecodes

00:46) - Background history
(02:16) - When he first started investing in the stock market
(04:39) - When he changed his investing strategy
(06:11) - His investing background history in the early 2000s
(07:12) - His strategy and business model today?
(08:37) - His future trading business model
(10:04) - How long does he usually hold before selling?
(18:27) - What is his win-to-loss ratio?
(23:13) - What are his annual returns?
(25:54) - What type of skills makes a good trader?
(28:58) - How to learn the systems and strategies that he uses
(30:25) - How long is the period to learn the systems and use real money on them?
(31:17) - The risks of the internet gurus and their instant miracles
(32:45) - How many hours per week does he work trading commodities?
(33:42) - Deeper into his website and educational platform
(36:20) - Is it possible to face trading as a job replacement?
(39:48) - The worst business or investment advice he ever received
(40:23) - The best business or investment advice he ever received
(42:46) - Guest contacts

Payback Time Podcast

Payback Time is a podcast for investors. The goal of this podcast is to help make investing approachable and easy to understand. We will interview beginner and experienced investors and ask them to share stories on how they got started, what challenges they faced, what mistakes they made, and what strategy works for them today. The overall objective is to provide you with a roadmap that helps you become a better investor.

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