"Trading as a Business" has always been a very good way to sum up my approach to trading. Every principle and idea in this book ultimately refers back to the notion that trading ultimately is a business and should be approached as such.

In the final analysis, business is simply the effective management of cash flow. A successful business generates more cash than it consumes. This is the goal of trading as well.

For most businesses, the key to success is attracting and keeping competent people. Personnel issues can and should consume a significant amount of time and effort, because a business really is only as good as its people. Trading for the most part eliminates this task, and also relieves us of the headaches and problems associated with managing employees.

Trading is a solitary endeavor. You will be freed from dealing with employees and the problems associated with managing employees, you will not be distracted by absenteeism, withholding taxes, EEOC rules and regulations, and disgruntled employee law suits. The only relationships you must manage are between you and the markets, and between you and yourself.

Bill Williams used to say that trading is the ultimate psychotherapy. He was right. Trading will expose some of your most prominent personality quirks as you attempt to trade your strategy. The more you learn about strategy trading, and the more you learn about yourself, the better a trader you will be. visit Kuwait Projects

Thinking of trading as a business has helped me enormously as a trader. It puts everything into perspective and helps me deal with my own psychological difficulties with trading execution. Once I stopped viewing trading as speculation,my trading improved. Once I realized that I was not going to get rich quick, that trading was not easy money, my trading improved. Once I realized that almost no businesses are successful overnight, my trading improved. Once I realized that Ihad to make an investment in the business, both in terms of my own education and in equipment and working capital, my trading improved.