This Simple Question Could Change Your Trading Forever!

Hi, Brian McMoy here with Inside Out Trading and today I got a really important question for you. What are you practicing in your trading every day? A lot of traders, they don't realize that a lot of stuff they want to put off to trading psychology and look for some be more discipline or control your emotions and that kind of stuff. And what is an easy thing to overlook really is just being self aware. To the matter of what are you practicing every day and how is that affecting you psychologically? Here's what I'm talking about. My first year of trading I didn't know what I was doing. My broker was not really much help at all. He wasn't that sharp of a trader. He was just, he was a broker placing trades and there wasn't a whole lot of information on how to be a successful trader, how to be good at this. There wasn't a whole lot of that around. So for the most part I was kind of training myself, teaching myself how to be a trader and I didn't know what the hell I was doing. I mean one, one thing I love putting across people because it's so true. I was in a kind of a position. It's like from a. Trying to learn this occupation and get good at it and make money at it and earn my freedom from my corporate job. I was my own limitation because I didn't know what I didn't know and I couldn't see what couldn't see and so I didn't. There were things that I didn't even know were going on. I had things I didn't know that I didn't know so I couldn't go address them. Things I couldn't see were problems. There were blind spots so it's like I didn't even, I couldn't see them so I didn't even know to go fix them. And so that was a huge limitation for me. And the thing is every day because I didn't know what I was doing and I'm the one leading my training to be a trader. Basically every day I was going to go into the markets and I'm practicing bad trading every day. It's like didn't have a good starting routine so my mood was variable to start the day and then I get into it and it's like I'm chasing the markets. I'm the way I was talking to myself what I was practicing with that, what I'm doing with my trading. It's like did I have a strategy or did I was I trying to just Chase everything, you know. Yeah, I was chasing trades. I was revenge trading, anger trading, hurt trading, make it, lose some, lose a bunch of money. Now I got to make it back, that kind of trading. Moving my stops, not even placing them. All kinds of mistakes. But the thing is that's what I was practicing. And after a while, oh, and of course the big one, I was practicing emotional trading. But see, it doesn't take all that long of doing that because I didn't get a good, good training to start with before I went started trading with real money. That's what got wired into me and that's what became normal. That's what I believe. This is what trading is like. This is what trading is all about. And so yeah, I'm, man, I'm just trading like crap. If I can just be more disciplined, if I could just stick to what I know I'm supposed to do and control my emotions and all that kind of stuff. And it's like, no, because I had been practicing so many wrong things. That's what got wired into my head as far as interpreting what I saw and what I believed about the markets and what again, what seemed normal and the response patterns that I was reinforcing because I was practicing emotional trading and all this kind of stuff. And so it's super important that yeah, you step back every now and then it's going to do like a weekly review or monthly review hopefully. And you're not just looking at your trading results, but you're looking at it. It's like what, what am I practicing every day when I trade? Am I, is what I'm practicing every day, is it making me a better trader? Or maybe not. Maybe what I'm practicing is working against me. It's not helpful because yeah, I'm practicing bad selft talk. So yeah, every time I hit a losing trade, man, I'll call myself a loser. I'm stupid and all this stuff and I'm just beating myself up. That's not helpful. But if you're practicing it again, it's having a psychological effect. If you're practicing bad trading, it's having a psychological effect. If you're practicing being emotional and trading emotional because you're outside your comfort zones or maybe you're lacking some training which will result in emotional trading. Because yeah, you're, if you're dealing with emotional trading, a lot of times it can boil down to something as simple as this. Trading has a certain skill level for you to be good at it and make money in a knowing manner. It's a skilled profession. This is not an entry level job where you just jump into it. Oh yeah, I know how to place trades. I can, I can do this now. No, it's a skilled profession. There's a range of skills you need and a level of proficiency with all those skills. And if you get to this level, trading is pretty straightforward. Basically like any other job, if you're a software engineer, a programmer, you run a business or whatever requires a set of skills and requires a level of proficiency. Trading is the same way. So long as you're down here skill wise and knowledge wise, it's going to be rough and it's going to be emotional. And until you skill up, it's going to be emotional because you're, you don't have the skills that it requires to do the job. And it's not just a matter of controlling your emotions and being more disciplined. There are certain things you have to be able to do as a trader beyond placing trades. And so again, what are you practicing in your trading? Are you practicing amateur trading? That's what I was doing my first year. I didn't know what I was doing. I did not have the skills, I didn't have the skill set, I certainly didn't have the proficiency. And so every day I'm practicing amateur trading. That was not helpful. So I know I'm sounding all passionate about this. It's a big deal, it really is. If you don't pay attention to what you're practicing, you can wind up practicing the wrong kind of trading for years. You can be stuck in this hole for years. I've had a lot of people come to me, been trading five years, eight years, 10 years and they're still fighting the same problems. They're still not making money. It's still stressful, it's still emotional because they haven't attended to the real problem. The problem is not the markets. The problem is not lack of an available strategy. The problem is not that you're not smart enough or capable. You have some mummy daddy issue. The fact that you're here as a trader, you've demonstrated that you have what it takes to be successful. The problem a lot of times is what did you start off practicing? Have you just been reinforcing bad trading? Did you get a proper foundation in the first place? Were you actually properly prepared for this occupation where you went, you know where you started trading with real money and you knew what you were doing, you knew you were solid, you had the skills. Probably not. Almost nobody gets that. And those are big impediments. But the thing is if you don't address it and you just practice the same thing you've been practicing for the last six months or a year or two years or five years, if you're just practicing the same thing, going to keep getting the same results, you're going to have the same struggles, same challenges and those and some new magic strategies not going to fix it. Some new magic indicators not going to fix it. This is a skill based occupation and a lot of times again we are our own limitation. So if I can help you with this. If you've been struggling with your trading, if you've been running into it, if you've been handing back your profits and you're really just tired of that and you're tired of missing out on the good trades, if you're tired of trading not being what you want it to be. Swingmyinsideouttrading.com book a call with me. At the top of the page there's a link. Book a call with Brian. Book a call with me. We'll talk about what's taking the fun and profit out of trading for you and what to do to get you past the obstacles and onto profitable, enjoyable trading. What you wanted, what you wanted it to be when you signed up for it. So just pay attention for now. Just maybe take a minute and ask. Take a look at it. What am I practicing every day? Is it getting me where I need to be? Where I am a competent, proficient, skilled trader and this is really no more difficult than my regular job. If not, then you know you need some help and I'd love to help you with that. So book a call with me. If you've enjoyed this video, give me a like and subscribe down below and also share this with your friends. If you got friends who trade, you'd like to help them do better. Cool. Again, I hope this been helpful. We'll talk to you soon. Cheers.