001 Welcome to the Consistent Profits Podcast!

Hello and welcome to the Consistent Profits podcast brought to you by Inside out trading and Brian McAvoy. Where the focus is on consistency, because when you have the consistent part down, profits become easy. Hello and welcome to the Consistent Profits Podcast. This is brought to you by Ryan McAvoy. That would be me of InsideOutTrading.com now, at Inside Out Trading, we focus on you, the trader, because really, if you think about it, you are the central figure and controlling thing within your trading. What you do and what you decide to focus on, where you spend your energy, your attention, your actions, it all surrounds you. So as far as getting you the consistent profits that you want, well, it only makes sense to focus on you and the things that you can affect and the things that you control. And that's what we do. Now as far as consistency, yeah, everybody talks about consistency. Buy our strategy and get those consistent profits. But see, it's not that simple. If it were, every time somebody bought a new trading strategy, they would be making tons of money and set for life and everything would be all hunky dory. And that's just not how it works. Consistency actually requires a bit more than just a strategy and a little bit of discipline, a couple of rules. There's a lot more to it. Now, how can I speak to this? Well, I used to be a quality assurance manager. I'm actually a certified quality engineer. And I used to work in manufacturing and I'm also a business consultant. But in manufacturing, I was the quality assurance manager. And I loved quality assurance for one simple reason. See, my degree was mechanical engineering. And when in mechanical engineering, you know, all of us, all those geeks, you know, you could design the perfect machine, you know, the perfect plant, the perfect plant layout, everything could be perfect on paper. And as soon as you threw people into the mix, all bets are off and it's probably going to blow up. What I loved about quality was quality is how you make things work with people right in the middle of it all. And I mean, because, you know, well, maybe you've heard of quality assurance, you know, spc, statistical process control, that kind of stuff. But quality assurance at its core is so that you have consistent, predictable, reliable output of a process. That's the foundation of quality assurance. Now, it's different from quality control. Quality control goes back like 50, 60 years. And was the notion or the concept where, you know, you got, let's say you got, you know, a production machine and a production line and you're making some product, maybe coats or plastic bottles or whatever, but you Know, you got your machines running and you're just producing as fast as you can, and then you have inspectors standing on the line looking at stuff, making sure that it's okay, and if it's not, they pick it off the line. So you have inspectors on the line determining what's good and what's bad, hoping to keep some bad product from getting out the door. Well, quality assurance takes a whole different approach. This is what Deming taught the Japanese and really helped them turn their whole industry, their whole economy around. Is quality assurance. Says, we're not going to just focus on the product, we're going to focus on the process and make sure that our process is so solid and we have such a good handle on it and it's so well designed and dialed in that we know that what's going down the line is good. Yeah, sure, we're still going to check it from time to time, but we don't have to check everything because we know that the process is solid. As long as we watch the process, we know the product is good. And this absolutely works. It's been proven in every industry around the planet over decades. It just plain works. And I mean everything from manufacturing of products to services. I mean, heck, even like Visa credit cards has a quality assurance department, insurance companies, so it applies all over the place. Software companies have quality assurance departments. So again, quality, the whole concept and notion of quality assurance has been proven around the world to not only give you no good consistent output, but it also is a great way to maximize your profits. Because if you think about it, every time you, you know, so let's say you have a good process, you know, whatever it is you're doing, placing trades, well, if you don't, you know, go according to your strategy, every time you know you're messing up, you're making little mistakes or variations and variabilities here and there, the ones that aren't. According to your strategy, everything that doesn't work out is scrap. It's a loss, it's a cost. And by getting better output and more consistent output, you lower your cost because you're lowering your scrap, you're lowering your wasted time, your wasted energy and resources. And it works so well for traders because, yeah, if you can get your trading where, yeah, it's just dialed in and it's producing consistently, it lowers all your costs, it lowers your stress, it lowers your worry about things, your anxiety. Because now instead of dealing with unknowns, you're dealing with knowns. You know exactly what to expect from your trading in the real world. And that is so cool. And again that's what I bring to trading is the quality knowledge and practices and tools and you know, I can. That's what I mean, that's what allowed me to turn my trading around and that's what I'm a teaching traders for almost 17 years now. And it's cool because it just plain works and it's so perfect for traders because it's like, yeah, this is how you get it dialed in to where you know what your output is even in a dynamic environment like the markets. And it's just wonderful. So anyway, yeah, the whole focus is on consistency now. There are different aspects to consistency of course. I mean there's consistency of your mental and emotional state which again doesn't happen by accident, doesn't happen just through force of will. You can't just will yourself in a consistent production of good trades. There are certain things that you have to apply, certain perspectives that you have to understand and when you can approach, approach it with the right perspectives and the right tools and the right know how. Yeah, the consistent part gets pretty easy. And the cool thing is here's where the best thing is. So many traders, you know, they want the consistent profits but they're going at it backwards. They're going at it thinking, you know, thinking well, you know, I want to get profitable first. I want to find a good profitable strategy and then I'll figure out how to get consistent about it. It's like, no, it's backwards and, and so that's why we take a different approach. I teach you how to be consistent first is when you're consistent first, when you have the consistency, adjusting for profitability, you know, is easy. It really is. The consistent part is the hard part of trading. And that's exactly what I can teach in a very real world terms and with proven methodologies and tools, not just, you know, some, you know, airy fairy woo psychology had some deep mummy daddy issue stuff. Firmly I'm a firm believer that most traders as a whole, traders are above average. Otherwise you wouldn't be in a position to trade. So you're going to be above average intelligence most likely and able to deal with success and money and discipline. I mean if you weren't okay with those things already, you wouldn't be in a position to trade. So you've already demonstrated that you have what it takes. Now it's just a matter of getting you the training and the understandings and the tools to, you know, to be successful as a trader. Now with this Podcast, not only am I going to be, you know, sharing my thoughts on things, but I'm also interviewing other traders who have all kinds of different perspectives on the consistent part of, you know, trading profitably. They're bringing their experience and their journeys and what they've learned over the years. And so I'm going to be interviewing. I mean, the primary format of the podcast is interviewing other traders. And I want to be able to, you know, again, share my experience. And why bring quality, which is very unique, but also the unique perspectives and experience of all these other traders who, you know, forget their, their, their, you know, thing about trading out and have been able to become successful and consistently profitable. And I'm doing this so, so that you can become, you know, consistently profitable as well and do it in a very knowing manner so that, yeah, you have a handle on it. You actually know what you're doing and you know that you're okay. And that's the whole point of this, this podcast. So I hope you enjoy it. If you do, go ahead and subscribe because like I said, I'm going to be interviewing traders of all sorts and all different backgrounds from around the world. So you get all kinds of different views on this and different kind of learnings, different things that, you know, will help be, you know, be helpful for you. And so you want to subscribe and, you know, if you would, you know, leave reviews, if you enjoy podcast, you know, share your comments with me and also, of course, share it with your friends because, you know, if you want them to be successful, yeah, send them this. Send them this way. I'll help them help you and them as best I can. Anyway, again, my name is Brian McAvoy with Inside Out Trading, bringing you the Consistent Profits podcast. Talk to you soon. Cheers. Thank you for joining us today on the Consistent Profits podcast brought to you by Inside Out Trading. If you enjoyed the show, make sure to subscribe on your favorite channel and we'll see you on the next episode. Cheers.