These 2 Thieves Are Stealing 48% From Your Trading Account Without You Realizing it!

Hi, Brian McAvoy with Inside Out Trading here. And today we're going to talk about how even just the smallest of things, which might seem inconsequential at the moment, can be robbing you of almost half of your trading account every year. For real. So pay attention. I mean, if keeping your trading capital in your account and actually making money are important to you, take a few minutes for this video. This is going to open your eyes to something that really is critical if you're serious about making it as a trader. So, okay, what am I talking about? Well, everybody knows that when you make mistakes, especially due to emotions, that it can be very costly. I mean, sometimes, yeah, you'll hang on to a trade too long and it just blows up and it's a horrible thing. But even the little ones. Even the little ones, what you're going to discover here in just a few minutes is how trading really, really demands a very high level of excellence in execution, because even consistently made mistakes can just have a huge impact on your account. And it doesn't seem like it at the time. What you're going to learn here can also be applied to other areas of your life, and it's going to have a huge positive impact for you. That's why I'm sharing it with you. Because this is stuff that otherwise might go unnoticed, or at least not given the importance that it's due. And if you're not aware of it, it's costing you in a big way without you realizing it. That's the main thing is it's going on and you're paying a price for it, but you don't even realize it. Okay, so what am I talking about? Well, here, recently, I put the question out there to several different groups, my own list and other people's, anyway, several hundred traders. And I'm asking, you know, what's your biggest psychological challenge? And I was really not that surprised that the top two issues that people are fighting are the fear of missing out. That was the number one issue. The second one was hesitation. Most of the time, you know, hesitating to pull the trigger. Not always. There are other forms of hesitation, but the hesitation was number two. What did surprise me was, and again, not that these were the top two issues, but they were the top two issues for so many traders. It's like there are a lot of different issues, you know, people could be fighting, but these were the top two for, like, almost everybody. And so this is a big deal that you get them in hand. And here's why these two Thieves. And I call them thieves because they really are. They're like pickpockets. They're taking your money and robbing you. And you're not even realizing it in a huge way. This can be taking up to almost half of your account every year. You might be doing a lot of things really right, beating yourself up because you're not making money and you don't realize that it's these two issues that are the problem. Here's what I'm talking about. Let's say that for the most part, you're doing pretty good. You settle down most of the time. The great majority of the time, you're sticking to your system. You're doing what you're supposed to do. You got your risk management that you adhere to only 2% per trade, maximum risk per trade, and you're sticking to that fairly religiously. If you only make one mistake per month due to each of these issues, fear of missing out. Which means, and usually the result of that one is you wind up jumping into a trade that you shouldn't, or staying in a trade too long, but you're jumping into something where your rules say no, you're not supposed to. And of course, hesitation. If you're hesitating to pull the trigger, you're either missing out on the opportunity altogether or you're killing the timing. Okay, so let's take a look at this. Let's say you just make one time per month. You chase a bad trade. You're sitting there, you're just feeling kind of anxious. You haven't had any setups in a while or for whatever reason, and you're anxious to get in. Or maybe it's some revenge trading. You. You've had a few losses and you're kind of hurt, and you want to make that money back anyway. Whatever your motivation is, it's that fear of missing out. You know, the opportunities are there, and you want to jump in. And so you jump in on a trade and it goes south on you. Now you've got your risk management in there, so you only lose 2%. Okay, so that's one trade this month where you lost 2%. And let's say, you know, at some other point during the month, you know, there's another one where you're kind of nervous. Maybe you're not feeling good, you're uptight. You know, the. The bad trades are replaying in your head, and you hesitate and you miss the window of opportunity of right timing to get in on a trade. So you get in, and again, it only costs you 2%. Okay, so you've had two trades now where it cost you 2% each. So that's two trades at 2% each. That's 4% you've lost this month. Well, if you do that every month throughout the year, you only make one mistake each. Two mistakes total each month. Two mistakes out of the entire month. The rest of the month you're trading as absolutely best you can. And you only make two mistakes that only cost you 2% each. Well, again, that's 2% times two, two mistakes each month. So that's 4% per month. Well, 4% times 12 months, that's 48% of your account. Simple math. So again, this is why with trading, trading profitably really demands that you have a very high level of excellence and extreme risk management. You really got to have, you got to be running a tight ship. This is not something where you can jump into it casually and say, I want to make some money. No, it's casually, or you're downplaying the importance of really excellent, good execution. And not just good execution. A lot of people think that it's just discipline. If I've got a good system, if I just be more disciplined, everything will be fine. No, sometimes there's more to it than just being disciplined. Sometimes you got to take a look at your system and is your system proper? There are lots of other things moving parts of being a trader aside from your system and being disciplined. There are lots of other moving parts. There are lots of ways to lose or not make money in trading. You know this from experience. So trading as an occupation, really, again, it demands a high level of excellence in your execution. You've really got to have all the moving parts working together, working well, all of them individually working well. And it's absolutely critical now, especially the emotional mistakes. I mean, because your system, it's going to have winners and losers. It's not going to win all the time. Hopefully not going to lose all the time, but it's not going to win all the time. But even if you're doing this, like I said, a couple of times a month where you're handing back 4% or 5% or 10% of your account, the mistakes added up over the year can be crushing. And you can be doing so many things right, you can be putting in the right effort and man, you're staying disciplined so much of the time, and you're only making one or two mistakes a month from a percentage wise, it's pretty good. It's really good. But in trading really good might not be good enough. You've really got to have yourself and what you're doing and your mindset and your composure and your emotional state. You've got to have everything really. You've got to be bringing your A game every single day. One or two off days a month can be costing you half of your trading account a year. So again, this is one, it's very much a performance based occupation. You've got to be bringing your A game. Okay, so why am I bringing all this up? Well, if you are trading it casually, let's say you've been at this for four or five or eight years and you know, it's still not anywhere close to where you want to be. Or maybe, you know, you've gotten to where you break even. Maybe, you know, you got a profitable month here and there, but it's still far from where you want it to be. Yeah, I'm wanting to give you a little bit of a shake here, you know, so that it's like, hey, you know, change what you're doing because what you're doing really isn't getting you where you want to be. Here's what I'm talking about. As far as dealing with the psychological issues, again, there are lots of movements, moving parts. Most traders are not given adequate training when they first start out to both be properly equipped from a hard side of the business to also have a proper handle on things and really be properly prepared mentally and emotionally. So you're starting off at a double disadvantage because like I said, most people when they start out trading, they're not getting the proper price preparation and the proper start to it all. So you start off at a disadvantage and then you start off with a bunch of bad experience and establishes a whole bunch of just horrible stuff, mentally and emotionally, habitually, psychologically. And it's really important that you address this, that you fix what's broken or is not working right, kind of undo the, the things that have gone wrong that went wrong at the beginning and early on in your trading career and get all that stuff so that you've got a proper foundation. And that by itself will attend a lot of the psychological issues. But you also need some help. More than likely. It's really tough to do it by yourself as far as dealing with, okay, yeah, the bad experiences, the emotional response patterns, the behavioral patterns, the habits, the beliefs, the bad experiences, the, the associations, the triggers. I mean, there's a whole pile of stuff that can mentally really make this excellent level of trading very difficult. And so what I do. And if you want my help, I'll be glad to help you out. You can just click the link below. There's a little bit more information about that. But it really is just paramount that, yes, you attend to these issues. Because if you're really only at 90%, that's probably not good enough to really have you where you want to be. This is an occupation where, man, it's performance. And again, you've got to be bringing your A game every day. I'm not doing this because I want to create a negative for you in your day. I'm hoping to really give you a positive epiphany here so you can get things turned around and say, yeah, okay, what I've been thinking, way I've been looking at it hasn't been working. Here's a different way to look at it. And yeah, I need to bring my A game and I want to bring my A game because I really want to make this work. I mean, you're trading for a reason. You're not trading just because you got too much time on your hands. You're doing this because you want to make it work. You want that money. You got things to do with that money, whether it's retirement or lifestyle or inheritance for your kids or supporting your church or whatever. I know you want to make this work. So it's providing you with a different perspective and a little bit more seriousness about it. As far as the serious, not just, you know, I'm saying I seriously want to make money, but seriously, really be a true professional and really be good at this. So that, yes, you do realize the money and the benefits and all that comes with it. As far as when trading is working right, it's fantastic, you know, somewhat of a good motivator for you when. And again, this is all one, well within your capability. It's recognizing that those little mistakes, even if it's only one or two a month, can be costing you in such a huge way. Let's attend to this, fix this so that, yeah, all the things that are going right, you see more fruits from those efforts and those labors and all that you're putting into this. So, Again, it's Brian McAvoy with Inside Out Trading. Talk to you soon. Cheers. Just keep going, you know, wrestling with the bear and getting all beat up and torn up every year and losing half of your account every year. Attend to this, get some help, make things better, and you'll be glad that you did. Invest in yourself, Invest the time, invest the money in yourself. Becoming more and more of a really excellent trader, a very professional, very skilled, very knowledgeable trader. So that when you bring it, yes, you're bringing your A game and you're kicking butt and taking this names and getting that paycheck that you want. Anyway, I hope you've enjoyed this. I hope this has been.