Use 2 Defense Jewels or preferably 1 Turtle Jewelto negate the Defense Down (S). Both methods will leave you with 4 remaining slots. Using a talisman or weapon with 1 spare slot will give you the option of obtaining some other low end skills. An easier way to do this is by replacing the Blade helm with the Gunner helm, or just leave it as it only removes 10 defense.
Heat Cancel (Hi) makes you immune heat damage from hot environments, including the "burn" damage you receive from lava edges in the Volcano. This makes fighting monsters in the Volcano and during the daytime in the Sandy Plains much more straightforward.
Critical Eye(20%) has 15. With the other sets with remaining slots can be added to make Critical Eye(30%) leaving at least one slot to make another skill, like increase fire, water, electric, ice, and dragon resistance up to 10 or 15 with your skill and by weapon slots as well.
Overforging the Low Rank armor is generally accepted as being better. Attack up Medium (Potential Attack up Large) is a better skill than Mind's eye, Mind's eye prevents weapons from deflecting however they are still subjected to the same penalties including losing sharpness at twice the normal rate.
A good way of using Mind's eye is with a weapon with little blue or only green sharpness (such as weapons with status effect, Almighty Dahaka (P) or Morpheus Knife).