Brian McAvoy from Inside Out Trading argues that successful traders need more than just methods: they need consistency, confidence, and specific skills most people overlook. He offers resources to help traders assess where they're weak and build those abilities.
Hi, Brian McAvoy here with Inside Out Trading. Today we're going to talk about something that most people don't get taught when they get into trading. Actually, it's a skill that pretty much almost nobody gets taught. And, but it's super important if consistent profits and reliable profits is your goal as a trader. I mean, you know, for most of us, you know, when we get into trading, you know, we maybe you heard about it from a friend, saw, you know, got an email or saw an ad or a commercial, whatever, but, you know, we got made aware of trading and so, you know, we wade into it and it's like, well, and usually when we first get into it, you know, maybe you contact a broker and they say, well, cool, you know, you want to trade well, you know, we'll fund your account. We'll get you in a trading room over here. You can learn how to trade over here in the trading room or another way. A lot of people get sucked into trading is, you know, still kills me. Went to this one, there's a free seminar at a local, local hotel and the whole guys for getting in there was, you know, the habits of the successful people. And they got there and it's selling a trading program. It was hilarious. And they had a great package. I mean, into the room and, or into the presentation. Everybody's running to the back of the room. But anyway, most people, when we first get into trading, you know, we are learning methods. It's like, you know, yeah, I want to learn how to, you know, scalp or day trade or, you know, swing trade or whatever. But we learn methods. And of course that is a natural starting point, of course, or at least seems logical enough. And the thing is, unfortunately for most traders, that's kind of the extent of the training. It's, you know, it's like, okay, yeah, I learned a method. Okay. You know, the broker dropped me into this trading room. I can watch this guy trade for, you know, a few hours a day. And that's how I'm going to learn trading is I'll just watch what trades this guy places. And that's how we learn. You know, maybe, you know, you pick up a book and it has chapter two on risk and money management. Cool. And that is helpful. It's important. But the thing is, trading is not an entry level job. It's not. This is not something where it's so simple that just anybody can walk in off the street and start trading. You know, it's like, here, you know, show me a method. And we just start trading no, in order to do this as a, you know, an independent, self sufficient retail trader, it requires a range of skills. A range of skills. Not just the ability to place trades. No, it takes way more than that. And the thing is, one of the main skill sets that nobody gets taught is how to be consistent. And here's the thing, most, most circles, most forums, groups, all that kind of stuff and everybody talks about, oh yeah, you know, trading, you know, got to learn how to control your emotions to that discipline and willpower and uncover your psychological issues. You know what happened, you know what your mommy say to you when you were 5 years old that you know, traumatized you and screwed you up for trading. It's like no, with trading really it is a skill based occupation. And if you are, I mean trading requires a certain level of skills. It's up here. Again, this is not entry level. And so when you just learn a system or strategy, you're down here because you know there's other skills that you're not getting. Maybe even as far as just being as good with that strategy as you need to be. So long as you're down here operating below the level of your skills are below the level required to really be good at this and self sufficient, it's going to be rough. And so long as you stay here and you just chase strategies or discipline, you're not going to level yourself up to here. And it's only when your skill level and your range of skills, when you have your skill set is what you know is required by this job. Only when you get here does it get easy. Seriously, when you get up here it gets really easy. Gets, think about it with your day job. If you're a trader, you're probably a professional, you know, maybe a project manager, software engineer, you got your own business, you're an executive, you're not working an entry level job. Your day job probably is much more sophisticated and complex than trading, but you handle it just fine. Why is that? Why is that job? You can handle it. You know, you go to work, some days are better than others, but at the end of the day you go home, live life. Why is trading so much more challenging? It's because you're not as well prepared. You don't have the full range of skills like you do for your day job, handle your day job just fine. Trading is rough. And so again one of the skill set, one of the skills that's part of this is how to establish consistency, how to build confidence, how to, you know, achieve consistent execution. These are skill sets. This is not discipline. This is not just willpower. These are skill sets and there are, there are, there's specific progressions to making these happen and reaching the level of skill that you need with each of these. And it's really cool when you discover this and you're like, hey, yeah, there is more to trading than just having a good strategy and some discipline. There's a skill set that is required to achieve consistent, comfortable results day in and day out and where, yeah, it just runs and you know it and it's working the way you want. And again it's, it doesn't feel really any more challenging than a regular day job. It's really cool. So if you'd like to find out what you're missing, well, you can swing by Inside Out Trading.com I've got an self assessment that you can do. It's Trader scorecard and just the questions themselves will reveal a lot to you about what you might be missing. And what's cool about it is just in finding out what you're missing, you can start to fill the gaps. And when you fill the gaps and you level up, trading is going to get easy. It's not going to be such a struggle anymore. So I hope this has been helpful. It has. Give me a like and a subscribe down below. Share with your friends, post it on your social and you know, go ahead, just seriously swing by inside@trading.com get scorecard. Got other free resources for you there to help you become a better trader. That's my thing is I want to help you become the capable trader that you know that you can be. So the trading really is a part of your life that you want it to be what you sign up for in the first place. So again, I hope this has been helpful. Talk to you soon. Cheers.
