Brian Macavoy from Inside Out Trading walks through the mistakes that derail traders, arguing you need to master the basics before moving to discretionary trading. He covers building a solid foundation and offers calls for personalized guidance.
Hi, Brian Macavoy here with Inside Out Trading. And today we're going to talk about something that's kind of fun. It's really important that you pay attention to this so, because there's a big mistake that a lot of traders make. And that's where they think that just because they've been at this for a year or two or five, that because they have so much time in and everything's so familiar, they're thinking that they're further along on the developmental scale than they really are. And so one thing, and this hurts a lot of traders. Years ago I ran across this book, and it was when I had little children, when my daughter was my first child, was really young. I got this book. It was about learning how to learn. And one of the obstacles that the guy talked about as far as an obstacle to learning was jumping ahead on the gradient. And what he was talking about there is if you're trying to learn something, there's this body of knowledge or skill set that you're trying to develop. You can't skip steps on almost anything. You have to learn the basics. You get good at the basics, then you go to the next step, then you go to the next step, then you go to the next step. But if you go from step one to step four, it's gonna be rough. It's gonna be really rough. And that's what a lot of traders try to do. They try to go straight to intermediate trading, and you just can't do that. This is a skill based occupation. This is a job that requires skills. It requires proficiency and expertise and knowledge, and you just can't skip ahead. Now, where a lot of traders will hurt themselves and do this to themselves is they'll think, well, I want to be a discretionary trader. And the thing is, discretionary trading is an intermediate level. It really is. If you haven't mastered the basics, where you can just plain trade a method to be very methodical, very mechanical. If you haven't mastered that and you try to go straight to discretionary trading, it's going to be rough because you haven't built the foundation, the subconscious foundation, to be able to look at the charts and, and all the subconscious processing that goes on when you look at the charts and you're interpreting what you see and, and what to do and what it means and what the charts are telling you. And you just plain don't have that skill base yet. You don't have the skill with the execution, with the self management, with the discipline, the execution, the being Able to having your whole operation organized. Well, there's a whole lot of factors that get go into going from square one, I never traded before to being a discretionary trader. But so many traders want to do that. They want to be able to jump into it and just say, hey, I just, I'm going to look whatever the markets are offering me and I'm going to jump on that. Whether the markets are trending or they're flat or they're all over the place, I just want to be able to trade whatever, whatever's going on. And that's, I mean that's discretionary trading. That's not where you're saying I have been looking for very specific conditions and I'm going to use a very specific method with a very consistent process. That's where you need to start is the very consistent basic keep your focus small, establish success and then work your way up. But as first discretionary trading, you really shouldn't even be looking to do that until you've been profitable as a methodical trader for at least six months. Seriously. Because you have to build the skill to, to make that jump and you have to build the, the range of skills and the range of abilities before you can get to that point. Just because if you want to operate at that level, you just plain, you have to have the skills and you can't skip steps on the way there. So don't. If you've been trying to discretionary trader. If you don't have a really good clear method, a good process and where you can keep it simple, keep it, keep your focus small, establish that success. If you haven't been tasting the success, well, maybe you need to scale it down a little bit. And if you'd like some help with this swingby insideouttrading.com book a call with me. We'll talk about your situation. We'll put together a little game plan on as far as how to get you where you have that success and things are going well and you're developing that knowing and it's not just a temporary success on luck. You're actually getting the skills and the abilities that you need to to know that yes, you're solid now, now you can actually progress. So I hope this has been helpful. If it has, give me a like down below. Let the YouTube algorithm know that this is a decent video. This is the kind of stuff I make how to be a winning trader. Subscribe to my channel so that you can get these videos when I publish them and also share with your friends so again. I hope this been helpful. If it has seriously, swing my inside out trading book a call with me. Let's advance you. Let's move the needle in your trading. Make it more fun and more profitable for you. Talk to you soon. Cheers.
