Forex Trading System - Two Simple Mistakes That Explain A Lot

Hi, Brian McAvoy here. And today I want to share with you two really simple but absolutely huge mistakes that I've made early in my trading. And you probably, you know, I've run into these yourself, but when you understand them, it really explains a lot as far as, you know, why part of this game of trading is so blooming difficult and frustrating. So, okay, let's just jump right into it. I remember when I first started trading, and, you know, I'd be looking at the charts and I'd be in a trade and it wouldn't go the way I wanted to. Maybe I'd win one. But anyway, I was a lot of it. I was kind of really flying by the seat of my pants. I kind of had a method I kind of didn't. And every time I hit a losing trade or I'd be getting, you know, really anxious about stuff, I'd go looking for, you know, some, you know, magic indicator that would give me a whole lot more confidence what I was doing, you know, so I could look at that indicator. And I know, okay, this is a reliable setup. This one's not going to turn against me. This has given me much better, you know, confidence in what I'm doing. You know, I tried all kinds of different indicators. Maybe I would run across one that, hey, this, you know, this looks promising. It looks like I've got some good correlation here. And then I would try using it and, you know, might work for a few days, maybe even a couple of weeks. And then I'd kind of run into the same old problem where, wait a minute, you know, it looked like a good setup, but, you know, damn, I lost money again. It was really driving me nuts. And what I found was the very first mistake that I made. And all that, when I look back on it, was the first big mistake that I made, was really just underestimating what it takes to be a trader. I thought, you know, hey, I get this. I get how it works. You're in, you get out. Simple. I get it. I know it's like an even more gross oversimplification, but it was almost that much of an oversimplification about the whole activity of trading. I totally underestimated what it's, you know, what it's about to be a trader. And that one right there hurt me really bad. So I jumped into it with this false overconfidence because, you know, I tried lots of different things in my life. I've been throwing in lots of different stuff, whether it was my choice for my bosses, you know, because they knew that I was a versatile, capable person and I could learn quickly. I jumped into trading, Looked simple enough, certainly not any more difficult than other stuff that I had done. I'd taken on much bigger tasks in my life and got my arms around it pretty fast. But this trading thing, man, it was driving me nuts. So the first mistake was really just underestimating trading because it looks so simple on the surface. The second big mistake that I made was I went looking for an indicator. But instead of looking for an indicator, what I learned, see, that was the second big mistake, was I was looking for an indicator. And what I really should have been doing was looking for a way to, if I had an idea, looking for a way to incorporate that into my method, but do so in an intelligent, calculated and organized fashion so that I could test it out and actually measure over time how valid it was. Initially I would just kind of try it and that was totally against everything that I had learned in my engineering quality days, but I would just try it out. And so the sampling was all wrong, the testing was all wrong. And like a lot of traders, I wasn't documenting what I was doing at first. Again, it all just looked so easy. I didn't think that I needed to do these things. Well, looking back on it, if I would have been able to start off understanding that I needed to have a method, I needed to properly document that method, make sure that it was clear and functional and user friendly, and then to test that method with a proper sampling and proper testing and proper analysis so that I would have realistic expectations of it that would have made all the difference in the world. But again, because I underestimated trading and I went looking for the whole solutions in the wrong place, I went looking for an indicator instead of a way to improve what I was doing. Because indicators are just tools. They are, they're just tools. So when you're trying to learn how to do something and be good at it, you don't just look for new tools. You learn to improve your skills with the various tools so that you can improve your craft, improve your ability and your performance. That's how you really get good at things and establish your confidence and, you know, the successes that you need for the confidence and the assuredness in what you're doing. I just wanted to share that with you because I remember in my early days, that's one thing that just drove me nuts. I mean, like you, you know, I'm a fairly intelligent person. Again, you know, I had done a lot of things in My life was able to jump into new stuff and learn quickly and, you know, succeed. The man is trading thing, it really got me. And looking back on it, you know, those were a couple of mistakes that I made. Because trading is so easy to underestimate. You have to actually become a real professional and acquire the professional skills. And again, a couple of those skills are being able to look at a system and evaluate it. First of all, if you're looking at somebody else's system and evaluate it from a functionality and user friendliness perspective. So will you even be able to trade it? Pose that the strategy is sound, you have to be able to trade it and execute it consistently. But really the other thing is being able to when you want to try something, something because you want to improve on what's going on, either because it's not working anymore, you just want to make improvements, or maybe the circumstances have changed and you want to be able to try new things. But do it in an organized fashion so that you're not just kind of shooting from the hip and driving yourself crazy. Because sometimes it works, sometimes it doesn't, and you still don't know with any degree of certainty or precision how good it really is. Is it really a good idea or is this something that, you know, it just happened to be? When I tried it, it worked. It worked or didn't work. It's a skill based profession and if you have experienced some of these frustrations, then you probably would be a good fit for the trading system mastery course because that's where we talk about how to do these things as far as with your system, getting it documented properly and testing it, and also how to incorporate things, how to try new ideas. But again, do it in a business like an organized fashion. I hope this has been helpful for you. Feel free to leave a comment. If somebody else might benefit from this video, do please do share with your friends. I just want to shoot me an email. Let me know how I can help you in your trading. That would be cool. Send me an email. BrianSideoutTrading.com I'm here to help you become a better trader and enjoy some success. Cheers.