Free Trading Education - A criticial yet overlooked trader skill

Hi, Brian McAvoy here with Inside Out Trading. And today we're going to take a look at one of the trader skills that really can make your trading both very profitable and very enjoyable. It's just a fun skill. Once you get good at it, it's actually really fun. And it can just take a trading to a whole different level. Let's say that you get an email, you hear from a friend, whatever, but you find out about a new trading system and it's like, wow, it sounds good. The strategy makes sense. I'll go ahead and get it, take a look at it. You open this thing up, you take a look at it, and within seconds, minutes at the most, you can tell immediately if this system is going to be okay or if it's going to give you problems trying to trade it. Seriously, when people come to me looking for help, they're usually looking for help with anxiety or hesitation or over trading, playing with their stops. They're just having a hard time settling down, getting the emotions out of their trading. And what I've learned over my years working with dozens and dozens of traders is that 98.4% of the time, that's the number I came up with. Last time I ran the numbers, there was an issue with the system itself, not from the strategy. The strategy is how you're going to get in and out. It's in the details. Because if you think about it, every trading system boils down to buy low, sell high. That's the core of every system. So it's in the details and how you go about it on a repeated basis. I mean, that's your system, right? How are you going to do this again and again and again to make money? How are you going to execute that strategy? So it's in the details. So it's how you put the thing together. Is it functional for you to be able to do it, for you to be able to use this system the way it's written? And a lot of times, what a lot of people don't realize is a system is not a system is not a system. They're not all the same. You can take the same strategy and have three different people write systems based on it, and you'll have three entirely different functional systems executing the same strategy now, same market, same everything. The only difference is who's documenting it, how they're laying out the steps. When you can take a look at a system and immediately know if it's documented in a manner that's going to be easy to follow, easy to Execute and do so consistently or again, if there are problems and then to be able to spot those problems and know what to do to fix it. That is a very cool skill. Because personally I love it when people send me their system and they're like, hey Brian, will you critique this? Show me where the problems are, go through it. And it's like every single time they're like, wow, cool. I didn't realize that this is really what was giving me so much of my problems. I was thinking the problem was me, but it's not. And we fix the system and then they're like, wow, yeah, this is cool. Again, I keep trying to get across to everybody and it's important for you to understand trading is a skill based occupation. It's not one where you can just jump into this business, grab a system and jump into the markets. It doesn't work like that. You have to have certain skills. One of those skills is being able to just evaluate a trading system from a functional standpoint. Forget if the strategy is good or not. The strategy can be sound, but if the system itself is not functional, you got to be able to spot it. You got to know that it's not. You got to be able to look at it and recognize it and then also where the problems are and what to do to fix them. And that's cool. This is really something people don't recognize as a key trader skill. That's why a lot of people will jump from system to system to system and they're never satisfied because they don't know how to spot the bad ones. They'll keep beating themselves up saying, well, I tried that system and it was just me, I couldn't stick to it. No, that's not the problem. The problem is the system itself. I learned this back in my quality days as a quality manager because one of my primary responsibilities was to get consistent performance out of everybody in the whole operation across all the different departments, all the different shifts from month to month to month. My whole job was. And I had the training for it. I'm a certified quality engineer. How to make that happen. I want to be able to do the same thing for you. Just want to let you know this is one of the key trader skills. Take a look at your system as it is and see if you can tell what I'm talking about. I hope this is helpful to you if you don't know how to do this yet or you think you'd like to be able to get better at it because again, it is pretty fun. It's pretty cool to be able to do this. You may be a good fit for the Trading System Mastery course and you can check that out at the link down here below. It's one of my more enjoyable aspects of when I'm coaching people is going through the system with them, showing them how to do this and then they know how to do it. And it's cool just seeing the whole transformation, how things turn around and they can stop beating themselves up. Okay, I got a couple of things for you to do right now. First one is if you enjoyed this, if you know somebody that might be able to benefit from this, share it with them, send them a link or click on the Facebook like button. But yeah, share it. I'm doing this to help you become a better trader. I hope it has been helpful. If you feel like it, send me an email. Let me know how I can help you in your trading. And third thing is go ahead and check out this other video. It's there to help you become a better trader. Expand your understanding of what it takes to be a successful trader. It's Brian McAvoy with Inside Out Trading. Cheers.