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TRADING #101 COURSE – PART THREE: SETTING UP YOUR BUSINESS – WWW.TRADERSCOACH.COM
That is the kiss of death and will cause you to miss warning signals
and vulnerabilities to your model and to changing environments.
6. Create a repeatable model that can be profitable.
Here’s where you need hands-on experience to prove that you have a
profitable model. You can do this in the form of paper-trading, mini
account trading, and trading as a parallel test (see Chapter 9) while
you retain other employment that pays the bills.
They are the Backbone of our Economy
Small businesses are the backbone of our economy. The Small Business Administration
website states that small businesses (those with fewer than 500 employees) in the
United States:
• Represent 99.7 of all employer firms.
• Employ half of all private-sector employees.
• Pay 44 percent of total United U.S. payroll.
• Have generated 60 percent of net new jobs.
• Are 52 percent home-based.
The real innovation and creativity always comes from the entrepreneurial sector.
That’s where the new ideas are. Just like Bill Gates starting Microsoft in his garage, or
Mark Zuckerberg starting Facebook in his dorm room at Harvard or Larry Page and
Sergey Brin starting Google while they were at Stanford, you are part of an elite and
creative group of individuals.
Entrepreneurs are often misunderstood and don’t always fit in. They think outside of the
box, try things that other people think are crazy, and generally take on more risk than
the average person would ever consider. But, they love what they do and wouldn’t trade
it for anything else; that’s what makes them special.
Because, if they beat the odds and succeed at doing what they love, there is no better
job in the world. To be able to create something, a company, out of nothing is nothing
short of a miracle. Yes, miracles do happen, but you must make them happen. They
don’t just fall into your lap.
Granted, the life of an entrepreneur is not for everyone, and the test is in the launching
and maintaining of a business. You will never know if you can succeed until you try.
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