Trading Systems: Don't Get Duped - Filter Thru the B.S.

Hi, Brian McAvoy here, Trader Brian on YouTube and Brian McAvoy at InsideOut Trading. I'd like to share with you today, filtering through the BS when it comes to trading systems. How to know if a trading system is worth trying and what prompted this presentation? I got a question from a reader. He sent me an email and he had a really good question. He said, what are your thoughts on forex trading and these programs such as 10 Minute Forex Wealth Builder, Are they any good or are they just another. Come on. There's so much out there on trading. One has difficulty. What is good and what is not? That was just a really good question because you really do want to know. How do you tell if a trading system is any good? How do you tell if you should risk your money with a trading system created by somebody else? These are very valid questions. Now there's a real simple answer. You like this. One of the great things about trading is that you can test something in the real world. This is one of the best things about trading as a business. You can test things in the real world with real market data, back testing or in a demo account without risking a penny. And you can measure the results, real results. This is the only business where you can do that and it's just excellent. So you don't have to believe anyone, you don't have to believe anybody's claims. That's what's wonderful about it. Now, where I used to work a long time ago, the catchphrase going around was, in God we trust all others bring data, which was really good. The main thing is, though, data is for a lot of people, it's kind of a vague term. So I looked it up one day and data, according to the Webster's Collegiate Dictionary, is information used for the purpose of making decisions. It's not just information. The important thing about it is, and the reason that data is so important is you're getting hit with all these claims. I made all this money with this system and they're just claims. Somebody may say, oh yeah, that system is the greatest thing in the world. Well, those are just opinions. Those just don't count. It's kind of like, what's the weather supposed to be today? Oh, it's going to be nice. No? What's the percent chance that it's going to rain? What's the temperature going to be? You want numbers? You want real numbers. Now the big questions, the real questions underneath it all is will this system work for real? Even if it does, for the guy that made it Will it work for me? That's really what you want to know. Those are the real questions underneath things. Now, what would it be? Great when the purveyors of the various trading systems speak in the right terms and present the right information instead of just, oh, I made $10,000 in three days with this system? That kind of stuff, they can say, all right in these markets using these time frames, These are the measured results. Measured results. Now, until that happens, don't believe the claims. Don't, because you don't have to. I'm going to tell you why. Because you can prove it to yourself without risking a penny in the markets. You don't have to put any money at risk to know if something's going to work. The best thing about it is, then you proceed only if it does work for you. When you have proof. What do you need to know about a system besides somebody made money with it? The claim? Well, what you want are real measured results, such as the winning percentage, the real profit to loss ratio, the average return per trade, the maximum drawdown, the real reward to risk, and the real return on investment. These are the things that you really do need to know about a trading system. Real measured results. Yes, this is the actual winning percentage. And not just that. Winning percentage by itself doesn't mean anything. You need to have these other numbers because you need to know, who cares if you're batting.900, if you're not making money, that doesn't matter. What is the profit to loss ratio? Does it match up well with this winning percentage and the average return per trade? How much can I know I'm going to make with every trade I place? All winners and losers accounted for. These are the important things. And there are others. Now, there are ways to determine a number. The question for you right now is, how am I going to determine these numbers? Well, you can do it by hand. There are easy calculations for some of them, a little bit more complicated for others. You could create your own spreadsheet. That's true. You can do that. You can hire somebody to have it created for you, drop 3, 4, $500,000 and have somebody create it for you. Or you can use a tool that's already created. Here's what I'm talking about with the trading system analyzer. Actually, the trading performance analyzer is the whole package on this. You can get all these metrics here. You can get your number of winning trades, total profits, average profit, your maximum drawdown. All this stuff is already set up for you. The numbers that I was just Talking about here on the previous slide, they're all right here for you. And all you have to do is just put in your trading results here. Your outlay, your risk, your net profit and your net loss. All this stuff is calculated for you. Now, the neat thing about this analyzer is not only can you track your data monthly, you can track it on a continuous basis. You can track it through the year as you go along, all the different numbers, plus keep an equity graph on your account balance. And then also take a look at your income scorecard. Is your trading meeting your goals for the month and for the year? All these things are in the Trading Performance analyzer. It just makes things incredibly simple. It's already all done for you. All those numbers that we were talking about before and more so before you risk a penny on a trading system, you can test it. That's really the best thing about it. You don't have to believe anybody. You can prove it to yourself because now you can measure the results and see for yourself what's real, what's not. Now, the best thing about it is you take where you are now. You can benchmark what you've got going on right now. And then you take a look at whatever it is you're considering, whether it's a new system or change to your current system. And you only go with it if it is better. But you can take a look and measure whether it's actually better or worse. Again, no more just hopes or claims or bs. Plus, the other cool thing about it is, as you go through this process, you'll identify gray zones in your trading system. If you've got certain points in your trading system that they're kind of tough to work with, you find they're a little too subjective. Those gray zones, you'll be able to identify them and work them out. And that's really excellent. Plus, in going through the analysis process, you'll develop your competence with the system. That's really crucial is getting good with the system in back testing or forward testing in a demo account where you're not risking any money, you'll build your competence with the system. You'll get good at using it. That's really excellent. When your competence with something, when you're good at doing something, you naturally develop confidence and build it up. That's cool. Don't go on hope. When it comes to your money, don't go on faith, don't go on hope. There's just too much at stake. There really is what you want to do, of course, especially when you're talking about your money, you want to put the odds in your favor. You want to be able to filter out the bs. What you want to do is go ahead and get the trading performance analyzed. It's already created for you. You can establish your benchmark, like I said, where you are now. And you only go with better, whatever is better. Then you can go with it after you prove it out. This way, you protect yourself and your capital. Really, you should do it right now. There's no sense in continuing to trade or getting started without knowing if what you're doing is likely to produce the results that you want. You don't have to guess anymore. Inside out trading is where you can get the analyzer. On the page that I'm about to show you, there are videos where you can see in depth how all this works. It's completely wide open. I show you videos exactly how all of it works. It's really cool. Plus you can see comments from other owners of it, whether they like it or not. You don't have to believe anything I'm saying. You can see what other people like you have had to say and you can get it right now. It's available for immediate download. Now, if you know anybody else that trades do share this video with them. Trading can be very stressful and there's no reason for it. You can take the stress and the anxiety way out of your trading. You can cut the stress level way down in your trading because you'll have the competence and the confidence to know what's going to work and what isn't and filter out all the bs. That's the best thing about all of this. So just right now, go ahead and go to InsideOutTrading.com TPA that's where you can get the analyzer. You can take a look at it, look at the videos, see how all of it works in detail. Like I said, see the comments from the owners and go ahead and get it right now. This is Brian McAvoy at InsideOut Trading on YouTube. I'm known as Trader Brian. Again, share this video with your friends and go and get the trading performance analyzer right now.