Trading Psychology - Freebie From Mastery Coaching

Hi, Brian McAvoy with Inside Out Trading. And today I got a little freebie for you. What I'm going to share with you today is actually just one of the many things that you would learn in the trading system. Mastery, accelerated coaching. Seeing that coaching, you're just not getting information I'm handing you and providing you with a skill set really so that when we're done, you don't need me anymore. You really don't need anybody. You can stand on your own two feet. But anyway, here's what's going on. Just let me kind of qualify things going into it. There are several reasons why people come to me for the coaching. And most of the people that do come to me are not brand new traders. They've got some experience in, they've tried some things, they managed to survive, but man, just really still having a tough time with it. There's several things. A common one is hesitation, finding hesitation in regular trading. What they tell me is, Brian, I want to have that confidence in my system. I think I've got a pretty good system. But when I'm live in the trade, man, I'm nervous. I make a lot of mistakes and I'm still chasing bad trades. I want to have the confidence in my system. Like I said, I think I've got a winner, but I don't have that sureness that I really want. I want to have that confidence and I do want to be able to do different things. Anyway, that's just a little bit of why people come to me for this coaching. Because again, what you get out of coaching is the skill set so you can have that confidence as a trader. Anyway, here's the lesson and really some of it's really just super basics, but understanding why and how to go about it is really the value of it. Here's one of the things I'm talking about as far as hesitation. Trading is a decision making process. It really is one of the reasons that having your system documented is so absolutely crucial and not just documented but documented properly is this is something that you're trying to do, it's something you're trying to follow and it's a series of decisions as you go through and you identify and good setups and you decide what kind of entry you're going to make and when you're going to make it and of course the exit strategy and all that kind of stuff. So trading in general is a series of decisions. And here's the thing, whether you have your system documented or not, you're still making all the decisions, it's a matter of when you make them. And if you don't have your system documented, then that means most of the time you're probably going to be making them when you're in the heat of the trade. And that really just is not the time to be making decisions. That's when the emotions are likely to be high, pressure's on and you're seeing all this stuff going on on your chart. That's not the time to make the decision. The time to make the decision is when you're stepped away from your trading and you can think through the whole process and that's when you have your good judgment in play. Again, it's that clarity of documenting things that's so important, but really doing it properly that's the key. Because probably a third of the people that come to me, they'll say, yeah, I've got my system documented, but what they have documented is not a good functional document. And that's one of the things that I help you learn is how to make sure a system is properly documented. So anyway, again the lesson out of today's thing is when it comes to the decisions that you make in your trading, you're going to make the decisions. It's just a matter of choosing when you're going to make it. Are you going to make it when you're planning out your system, your decision process for doing your trading or are you going to do it in the heat of the moment when you're in the middle of the trades? So really it's to your advantage. Your consistency will improve dramatically, your confidence will go up dramatically when you can have all those decisions already clear prior to ever entering the trade. And again, that's where documenting your system really is so valuable. If you'd like my help with it, swing on by the site. If you've got any questions, just let me know. BrianSideoutTrading Swing on by the site. Check out the trading system mastery accelerated coaching. Again, this is just one of the many things that you'll learn in the coaching. I'm here to help you become a good, self sufficient, independent trader. Let me know if you have any questions. Cheers Sam.