The #1 Reason Traders Struggle with Day Trading Revealed

Hi, Brian McAvoy here with Inside Out Trading. And today we're going to talk about the number one reason that most traders struggle to make money, and most are not making money, they're losing money. Now, don't, don't take me wrong. I'm not judging anybody, but I want to share some insights with you that I gained from my early years and from working with traders over the last 18 years. This really is like the number one reason that so many people, smart people, you know, hard working, sincere people, get into trading and, and really they're just doing their best, but they just can't seem to make it work. And this really is, this is the top reason. And it's not a bad thing. It's not because you lack personal assets. It's not because you have something inherently wrong with you. It's not that you really even need to go through the hard personal lessons that trading hands. So many people, a lot of traders, they like to say, well, if you're trading, it's the mirror. You're going to learn so much about yourself. It's like, well, yeah, anytime you're in something and it's difficult and it's challenging and you're taking a beating, yeah, you're going to find out about yourself, whether it's a fist fight on the street or, you know, a financial pursuit or you're trying to run a marathon and you're just having a hard time with it. If you're in something and it's challenging and it's beyond your skill set, yeah, you're going to learn about yourself. But the thing is, it doesn't have to be an extended learning period and it doesn't have to be this big, giant life lesson. Here's what I'm talking about. Really. This is like the number one reason that most trade, most people get into trading, don't make money, most lose. Here's the number one reason is because people look at trading and they say, cool, I get it, I understand how it works. I understand what I'm supposed to do. And then they jump in thinking that just because they have understanding of the game and how to play it and you know, what's, you know, what's involved, what you're supposed to do. Everybody thinks that, you know, it's like that that's sufficient knowledge to jump in and be competent at it. Now, I did the exact same thing my first year in trading. Sure, I did the exact same thing. I jumped into it. It's like, yeah, I get it. I see how it Works. I can do this. And I took a beating. I mean, it was the first year. Even though I got lucky and made some money, I wound up getting wiped out. You know, I lost over $45,000. And the thing is, I mean, like, like I said, I didn't make some money along the way, but the whole time I was so emotionally tweaked, it's like I felt like I was having a heart attack every time I was thinking about whether I was making money or losing it. Just because the main thing is I didn't know what I was doing. I really didn't. I mean, when I finally was honest with myself, it's like, yeah, I see how it works and I know what I'm supposed to do, but actually doing it and being good at it is a whole different thing. And I never took the time to get good at it. I didn't know what I needed to do to get good at it. You know, like I said, you know, I took a look at it. It's like, I get it now. What I'm supposed to do looks simple enough. And that's one of the most frustrating things about trading is, you know, you look at it, it's like, it shouldn't be this difficult. And it's so frustrating that it looks so simple. Done tougher things in my life. Why in the hell is this so hard? And it's frustrating, especially when, you know, you're a person who has, you know, you've been able to jump into things and figure them out and be successful. And when they're trading, you know, you go in and you just get your butt kicked left and right for a lot of people. Again, they're butt kicked for years. I mean, I have people coming to me all the time and trading for 5, 8, 10, 12 years and they're still not where they want to be. And not, not really even close. And the thing is, again, it's, it's underestimating what it takes. And if you think about it, it's just, it's one of the traps of trading. And you know, the people who sell systems and signal services and, you know, and all this stuff, they don't help because they say, sure, it's so easy. Yeah, you know, hey, a baby can do it. Remember those E Trade baby commercials? They were fun, but they were totally misleading everybody. Is it easy to place trades? Can a baby place trades? Can a baby mess with the phone? Sure. Can a baby trade competently? No. And neither can adults just by jumping into it. And this is not an occupation that lends itself to being figured out. It's not, it's not like you can see what you did wrong. A lot of times what you're doing wrong is not obvious and the markets are not going to tell you what's going on. So if you really want it, you want to get past the point of struggle, here's what you need to do. Stop focusing on the market, stop focusing on your charts, stop focusing on the strategy you're using. Start focusing on yourself and decide that you are going to become the trader where this is easy. So here's the thing. And this is true of any, any performance activity, whether it's a sport or an occupation or whatever, you know, if the skill level required to be good at it is here, so long as you're anywhere down here, it's going to be rough. And even if I don't care if you've been trading for five years, if you've gone five years and all you've been doing is practicing trading unskilled or insufficiently skilled, it's still going to be rough. Just because you're putting in time doesn't automatically move you up to where now, oh, I have the skills to meet the requirements. And then once you get here, you know, but the thing is, this has to be an intentional thing. You can beat your head on the rock for five to 20 years and yes, just eventually over time you may get there or you can seek out training and specifically on the skills of, you know, being an independent retail trader. Now, one of my favorite questions to ask people when they come to work with me and, you know, they're looking at me for help is, is I love asking them. It's like, have you ever run a business before? Have you ever started up and run a business before? And if they say no, then that tells me straight away, well, you have two learning curves in you need to learn how to trade and all the skills that go with that. Being a skilled and competent trader, you also have the learning curve of how to run your own business and how to start up a business. So you've got more than one learning curve. And this is why so many people jump into trading. And it's like, it looks so easy and, but it's not. You have learning curves, each of these things. Starting up and running a business successfully, where it is profitable and it sustains itself and it grows, that has skill sets to go with it. Same thing with trading competently. There are a jillion ways to trade. We got thousands of different instruments across the different, you know, arenas, you know, markets that you can trade. You know, you got cryptos, you got forex, you got futures and commodities and stocks. And I mean, there's just tons of things, literally thousands of things you can trade. Different strategies, different time frames, different indicators. I mean, there's just so many permutations of how to trade, and only a handful of them are going to work. And no matter which one you choose, you still, there are certain skill sets to go with it. And so it's not as easy as it looks on the surface, and it's not as easy as so many people make it out to be. You know, just because you have a good strategy does not automatically turn you into a competent and consistent trader. Just because you've, you know, figured out what it was, you know, what childhood trauma you suffered and you've resolved that trauma does not automatically, you know, transmute you into a consistent, competent, skilled trader. You still, you know, you have to, you do need a decent strategy. Doesn't have to be a great strategy. It has to be a good strategy. And there is a certain amount of psychology that goes with trading, and there's also this huge chunk in the middle of the skills. And so long as you're only focusing on the strategy and the psychology, but you're missing the skills, it's still going to be rough. You got to develop the skills. And there are very specific skills that go with this job. There are some of them that are business skills or some of them that are specific to trading. And if you want to get past this and you want to get profitable and you want to get to that point where, hey, you're, you know, you're feeling good, you're secure, you know, you're solid, you're going to the markets with confidence, real confidence, not wishful, hopeful thinking. I got a great strategy. I hope it makes me money. No, you're actually going to the markets and you're very comfortable and you're relaxed because you know that you've got a handle on this and you know that what you're going to the market with, it's going to work or the odds are strongly in your favor. Just because you've skilled up, you've proven out what you're working with, you've proven it to yourself that you're good with it. You, you've skilled up, you've skilled. And like I said, there's a variety of skills that you need for trading. Now, if you'd like to find out more about this, I have a Variety of free resources at my website, Inside Out Trading. Swing by there. I have several different free reports. Got a couple of masterclasses where you know, it's a video trainings that I did, but there's some really solid trainings here that will help you fill in the gaps. The reason trading is tough is because you have gaps in your training and those gaps are what's making it tough. There are things that you need to be able to do that you don't know how to do and that's what's making it rough. Now the cool thing is when you fill the gaps with your skills and yeah, you know what to do and you know that you're solid and that's where your confidence comes from. Check it out. That's when your psych most your psychological issues go away. They really do. Because you're not, you're not trading from a position of not knowing it, a position of anxiety and fear and all that kind of stuff because you're, you're trading with that solid foundation of the skills and the know how. And it's like, yeah, now I, yeah, I've got the foundation, I'm solid and I know what I'm doing and I'm good. And it doesn't matter if you know, go with a funded account and the firm, you know, closes, I can start over because I know what I'm doing now and that's really cool. When you fit, when you take care of the skills, again, most of the psychological issues go away. Think about it, you've probably had a job in your life which was much more sophisticated than trading. I mean most of, most of the people that get into trading are professionals. A lot of them are technical. Got a lot of engineers, software programmers and engineers, doctors, lawyers, people who have a pretty high level aptitude wise and skill wise and occupation wise. And so trading by comparison, yes, it is extremely simple compared to what you've already done. Now do you have issues when you go to your day job? You know, are you struggling with your emotions and struggling to stay disciplined? It's like, no, you just do your job because you know how to do it. Same thing goes with trading. Once you have that competence and the confidence, you just go do your job. And it's not this big emotional ride. You're not dealing with fear and hope and greed and despair, all anxiety. No, because you know what you're doing and that's really cool to operate from that position of confidence and knowing in yourself that yes, I'm solid. That's so awesome. Anyway, swingby Inside out trading dot com. Like I said, I've got several free resources for you that'll help start, help, you know, fill in the gaps for you. If you'd like to, you know, talk and discuss your situation, you know. Yeah, explore the gaps, you know, see what's really been, you know, holding you back, what you need to do to get past these obstacles, these things that are holding back and get you on a confident, comfortable, profitable trading. Go ahead and book a call with me, we'll hop on the phone or zoom, call and we can talk about what's going on with you, what hasn't been working, what has been working and again, how to fill in the gaps and put you on the path. Because this is not something that should take years. It really shouldn't. It is not that complicated. I mean, three to six months a year at the outside, if you're just playing still, you know, goofing up, seriously, three to six months and you should, you should, you should have that solid handle on where, yeah, it's like, yeah, I'm good, I know, yeah, I've got it, I'm okay now. And your confidence is up here to like an 8 or a 9 or a 10 instead of a 3, you know, a 2 or a 3 like most, most traders. As far as your confidence to go to the markets and trade and know that you'll make money at the end of the month and the end of the year. That's the difference. It's because that confidence only comes from competence. It really does. And that's what I can help you do. So anyway, we can talk, you know, like I said, you know, swing by inside out trading, grab the free resources that are there. You know, it'll start to open your eyes to, you know, some of the realities of trading profitably and getting there within, you know, in less than five years, way less, and saving yourself all that time and all the money, you know, that you're not making or that you're, you know, you're losing along the way, the personal, personal capital that you're losing. Don't just, you know, be stubborn and say, well, I'll just figure it out, I'm just going to do it by myself. It's like, no, you wouldn't, you wouldn't pursue any other occupation that way. Trading is a real occupation, it is a real profession, it's fairly straightforward. But you do still have to get the training for it. And I mean, you wouldn't want to, you know, you wouldn't try to be A doctor or a lawyer or, you know, a, you know, senior engineer without going to school. And so many people, I mean, how many people you know paid, you know, 20, 40, 50, $100,000 to get a college education for a $60,000 a year job? Trading is going to pay way more than that. Invest a little bit in yourself. Skill up, make your life easy. Save yourself all that time so it's not taking years and tons of grief along the way. So anyway, yeah, I went on a little bit of a tangent, but hey, this, it's, this is important. It really is. And you don't want it to take forever to get there. You don't want to have to. You don't want to just struggle for years. You want to get there, right? Okay. Invest in yourself, invest some time, invest a little bit of money, get there and save yourself all the time and start enjoying what you, you know and start enjoying trading the way you want it to be. It's, you know, part of your life or yes, it's a good addition. It's something, it's fun and it's making you money and it's affording you the lifestyle that you want. It's right there for you if you'll just attend to it. Treat the occupation with the proper respect, get the training you need so that you're good at it and life will get easy anyway. Swingmyinsideouttrading.com if you've enjoyed this video, share it with your friends. I mean if, you know, if your friends already like you and you help them, you know, solve some of their issues with their, you know, with their trading, they're gonna like even more. Subscribe to my channel. This is the kind of videos that I do. It's, you know, how to help you become the trader that's going to succeed and, and the. The trader for whom trading becomes easy because you get so much better at it and you can subscribe to my channel. Give me a like on this and again, share it with your friends. I hope this been helpful. If it has, great. We'll talk to you soon. Cheers.