1. equip one of the sets. this set has to be the one that you want your armor and weapon to look like.
2. scroll across to the second set. this has to be the set that yiu want the weapon type, weapon stats and armor stats to be.
3. press x once and it will ask you if you are sure you want to change.
4. now instead of pressing x again you have to press both x and o at the same time. this can be hard to do but you will get it.
5. if you have done it properly so far u should hear the equipment changin noise but nothing will change. if this happens close the menu and run outside asap!
6. check your stats by pressing start the across to status. it will look like you have the first set equiped but it will say you have the second set.

The cool part about this is that you can mix weapons! for example if i have a great sword for my first set and a bowgun for my second i will end up with a bowgun that looks like a great sword. or if i have a sword n shield for the first and dual swords for the second i will end up with dual swords that look like a sword n shield.

note: dont bother trying to change great swords, hammers or bowguns into dual handed weapons like dual swords, sword n shields or lances because when you go outside it will just turn off your psp. this is harmless but annoying.

combination list:
dual sword - sword n shield (and other way round)
dual sword - lance (and other way round)
dual sword - great sword
dual sword - hammer
dual sword - bowgun
sword n shield - lance (and other way round)
sword n shield - great sword
sword n shield - hammer
sword n shield - bowgun
lance - great sword
lance - hammer
lance - bowgun
great sword - hammer (and other way round)
great sword - bowgun (and other way round)
Hammer - bowgun (and other way round)

This is not a cheat and you dont need anything to use it.
I did not find this glitch, i found it on youtube (cant remember what the vid was called though) so the credit does not go to me. this will only work with the first mhf so not on freedom 2 or freedom unite. anyone who asks if it works on mhf2 or mhfu will be ignored.