Since Wiki and other sites eem to be alittle misinformed on skills..

I decide to redo the list and check them myselfs.

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Armor skills make the hunter, or break them... along with a monster running you over. 
There are alot of skills, Most are well known, others not so well known.

So lets take a look at how it works, then will get into the skills themselfs.

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Lets take a look at Mafumofu Set you are givin at the start.
You will find the info you need under "equipment detail" from Start menu.
You'll find you can use the left and right on d-pad to read thru info on items.

Now back to the helmet.

You'll notice on the helm it says:

Protection: +2
Heat Res:   -2
Cold Res:   +4
PsychicVis: +3

Skill will activate at -20, -15 -10, +10, +15 and +20.

So wearing the helmet alone will get you nothing but the defense it offers.
As a Full Set it Offers:

Protection: +10
Heat Res:   -10
Cold Res:   +20
PsychicVis: +3

Protection kicked in at +10 and Cold Res actvates at +10 (cold inc low) and +15,(cold inc High)  +20 does nothing.
-10 Heat Res is a bad thing, As all skills that go minus are.

PsychicVis skill does nothing since it lacks the points to go off. (+10,+15) 

Not all skills have minus versions (-10,-15,-20) or even +15/+20.  I'll cover that when I go over the skills.

You can also mix and match armors and use gems to add skills!

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Post 1
-Attack and Sharpness Related SKills
-Resistane Skills

Post 2
-Guard, Stamina amd Evade Skills
-Health amd Defense Related Skills
-Gathering, Map, Sneak, Good luck/Awards, Capture and Carveing Type Skills

Post 3
-Bow and/or Gun Skills
-Other Assorted SKills (didn't find a skill? probaly in this spot)

Post 4
-Cat Kitchen Skills

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The Skills!

Attack and Sharpness Related SKills

Attack Up (Increase the Raw damage of the weapon your using, you'll see the effect in status page)
+20 = Attack Up Large
+15 = Attack Up Medium
+10 = Attack Up Small

Attack Down (lowers Raw damage. Thats bad!)
-10 = Attack Down (Small)
-15 = Attack Down (medium)
-20 = Attack Down (large)

Potential - Multi effect skill that effects your defense and attack based on Hp amount.
+10 = Adrenaline +1 Increases your Defense when your hp is below 40hp
+15 = Adrenaline +2 Increases your Raw damage and Defense when your life is 40hp or below.

-10 = Worry -Attack is lowered when your hp is low

(Adrenaline does not stack with Heroics cat skill as it did in MHf2)

Artisan
+10 = Sharpness+1  Gives weapons better sharpness, (picture)

-10 = ????

Sharpness (Weapons lose sharpness every hit. This will make it take last longer.)
Example,  After 5 hits you lose sharpness from white to blue sharpness, With +10, it now takes 10 hits.
+10 = Sharp Sword -Doubles the amount of hts it takes to lose sharpness.

-10 = Blunt  -Sword loses sharpness twice as fast.  WHen it took 10 hits to lose sharpness, it now takes 5.

Expert -Increase or Decreases the Affinity Precent on weapons.
Affinity is the chance a weapon will do extra 25% raw damage or only 75%  of its raw damage.
Weapons vary what it add's depending if a weapon has affinty already or none at all.

Sharpness also effects the value you receive. Higher sharpness, the more you get. (to set point) 80% would be the Max.

+20 = Reckless Abandon+3 +40 to +30%
+15 = Reckless Abandon+2 +30% to +20%
+10 = Reckless Abandon+1 +20% to +10%

-20 = Reckless Abandon-3 -15% to -20% ???
-15 = Reckless Abandon-2 -10% to 15%
-10 = Reckless Abandon-1 -5% to -10%

Remember Affinity is PRECENT/Chance you will do extra 25% raw, or -25% raw.

Sword Draw -Attacking from the Unsheath stance gives you 25% extra raw damage. Often Called "Crtical hit"
+10 = Art of Unsheathing Skill 

Examples, When your weapon is put away and then you attack, thats Unsheathing.
Lv3 great sword charge, Charged Hammer spin and slam can also be down from this stance.

Specail Attack -Increase the Effects of Stun, Sleep and Poison
+10 = Abnormal Status Attack Up

Element Attack -Increase the Damage for Element Weapons (Fire, Thunder, Water, Ice and Dragon)
+10 = Element Attack Up

Gunnery
+15 = Gunnery King -Increase Damage for Ballista, Cannon S, Craig Shots and Gunlance Shelling.
+10 = Gunnery Master -Increase Damage for Ballista and Cannon S

Fury* (Crimson Fatalis Armor)
+10 = Embolden - Gives Potential and Guts SKills

Edge Master* (White Fatalis Z Armor)
+10 Stelar Hunter -Gives Attack Up Large and Sharpness +1

* These have no Gems

Resistance Skills

All Resist -Effects the 5 element defenses (Fire, Water, Ice, Thunder and Dragon)
+10 = + 3% to all Resist
+15 = + 5% to all Resist
+20 = +10% to all Resist

-10 = -3% to all Resist
-15 = -5% to all Resist

Fire Res -Increase your Element Resist against attacks.
+15 = +10% Fire Resist
+10 = +5% Fire Resist

-10 = -5% Fire Resist
-15 = -10% Fire Resist

Water Res -Increase your Element Resist against attacks.
+15 = +10% Water Resist
+10 = +5% Water Resist

-10 = -5% Water Resist
-15 = -10% Water Resist

Thunder Res -Increase your Element Resist against attacks.
+15 = +10% Thunder Resist
+10 = +5% Thunder Resist

-10 = -5% Thunder Resist
-15 = -10% Thunder Resist

Ice Res -Increase your Element Resist against attacks.
+15 = +10% Ice Resist
+10 = +5% Ice Resist

-10 = -5% Ice Resist
-15 = -10% Ice Resist

Dragon Res -Increase your Element Resist against attacks.
+15 = +10% Dragon Resist
+10 = +5% Dragon Resist

-10 = -5% Dragon Resist
-15 = -10% Dragon Resist

Poison Res -Increase your Poison Resist against attacks.
+15 = Poison Negated
+10 = Poison Duration is Halved

-10 = Poison Duraton x2

Paralysis -Increase your Resist against stun attacks.
+15 Paralysis Negated
+10 Paralysis Duration Halved

-10 Paralysis Duration Doubled

Faint - Reduces or Cancels Knocked out phase and also Gypceros Flash Effect.
+15 = Faint Negated -Cancels Gypceros Flash Effect and KO Status.
+10 Faint Probality Halved -Reduces the chance of Being KO'd (stars above the head)

-10 Faint Duration x2 Stars above the Head last twice as long.

--Don't forget you can press X and Spin left stick to reduce the time stuck in KO.

Fatigue - Prevents effects of Cham Spit. (stam loss)
+10 Fatigue Cancellation

Terrain
+15 = Terrain Damage Negate - Teo/Luna and Lava effects are stopped.
+10 = Terrain Damage Half - Teo/Luna and Lava effects are reduced.

-10 = ???? 

Anticeptic -Immune to the after effects of Poo
+10 = Anticeptic

Anti Chamel* - Cancels Theft, Fatigue(cham spit) and All Poison effects
+10 = Fiery Protection

Anti Fire Dragon* - +10% Fire Resist and Full Terran Skill (+15)
+10 Metalic Protection

Anti Daora*
+10 Frosty Protection -Full WInd Resist and Snowman Effect Cancel

Heat Res -Effects Hot Areas like Desert (day)and Volcano
+15 = Heat Cancel High -Immune to Heat from Desert(day) and Volcano
+10 = Heat Cancel Low -Health drops very slow in Hot Areas.

-10 Heat Inc Low -Health will drop at a fast rate in Hot Areas.
-15 Heat Inc High -Health will drop at faster rate in Hot Areas

Cold Res
+15 Cold Elimination High -Immune to Cold effects of Snow mountain, Desert Night and Caves
+10 Cold Elimination Low -Stam will drop at half the rate in cold areas.

-10 Cold Increase Low -Stamina loss will happen faster in cold areas.
-15 Cold Increase High -Stamina loss is greatly increased in Cold Areas.

Resist Status* (Black Fatalis X Armor)
+10 Self-Defense Immune to all Status Effects

*  These have no Gems

Guard, Stamina amd Evade Skills

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Constitution
+15 = Constitution+2 Stamina use is lowered for Rolling, Side Steps and BackHops
+10 = Constitution+1 Stamina use is lowered for Rolling, Side Steps and BackHops

-10 = Constitution-1 Stamina use is Increased for Rolling, Side Steps and BackHops
-15 = ??? 

Stamina
+10 = Runner -Stamina use is halved for Running, Bow Draw and Dual Swords Hyper/Demonic Mode
-10 = Flat Footed -Stamina use is double for Running, Bow Draw and Dual Swords Hyper/Demonic Mode

Hunger
+15 = Hunger Negated -Stamina No Longer Drops over time.
+10 = Hunger Halved -Stamina drops at half the rate.

-10 = Hunger Increase Low -Stamina Drops Faster.
-15 = Hunger Increase High -Stamina Drops twice as Fast.

Gluttony
+15 = Scavenger - Rare Steaks and such give more stamina and chance to heal Hp.
Fish now have small chance to heal Hp or Stamina.
Potions also have small chance to increase Stamina.

+10 = Filled Up - Rare Steaks and such give more stamina.

Guard
+20 = Guard +1 -Reduces Stamina, Damage Loss and Push Back while Blocking Attacks
+10 = Guard +2 -Reduces Stamina, Damage Loss and Push Back while Blocking Attacks

-10 = Guard -1 ?? -Increases Stamina loss, Damage Loss and Push Back while Blocking Attacks
-20 = Guard -2 ?? -Increases Stamina loss, Damage Loss and Push Back while Blocking Attacks

Guard Up
+10 Guard Inc - You can now block attacks you normally could not! Example Gravios Gas!

Auto-Guard
+10 Auto-Guard -You'll block attacks if your not attacking, eating or using items.

Evade
+15 = Eavde +2 Gives you more "invincable time" during Rolls, SiteSteps, BackHops and Leaps
+10 = Evade +1 Gives you more "invincable time" during Rolls, SiteSteps, BackHops and Leaps

Evade Distance
+10 = Evade Distance Up - Makes you roll futher then normal.

Health amd Defense Related Skills

Protection
+10 Divine Protection - When hit by a Attack there is a 25% chance for Reduce Damage (30%)

-10 Demonic Protection - When hit by a Attack there is a 25% chance for Increased Damage (30%)

Guts
+10 Guts - With Hp of 60 or above, you can survive any attack. Your left with 1 HP left.

Recovery
+10 = Health Recovery Items Improved -Health Items heal much more.

Rec Speed
+20 = Damage Rec Speed +2 Heals Red Portion of the Life Gauge Faster.
+10 = Damage Rec Speed +1 Heals Red Portion of the Life Gauge Fast.

Wide Area
+20 = Wide Area +2 -Some Useable Items effect everyone in that area (full effect)
+10 = Wide Area +1 -Some Useable Items effect everyone in that area (Reduce to others)

Health
+20 = Health +50
+15 = Health +30
+10 = Health +20

-10 = Health -10
-15 = Health -20
-20 = Health -30

Defense
+20 = Defense +40
+15 = Defense +30
+10 = Defense +20

-10 = Defense -20
-15 = Defense -30
-20 = Defense ??

Gathering, Map, Sneak, Good luck/Awards, Capture and Carveing Type Skills

Gathering
+15 Gathering +2 Get even more Chances to Gather from Gathering spots
+10 Gathering +1 Get more Chances to Gather from Gathering spots

-10 Gathering -1 Less Chances to Gather from Gatehring Spots.

Map
+10 Far Sight, Shows the Full Map at all times.

-10 Map Unavailible, Grabbing the Map Item has no effect. You still see area you are in.

Psychic Vision
+15 Boss Monsters are shown on the Map in Detail at all times, Direction Facing, Burrowing and Ceiling.
+10 Boss Monster is Shown at Start of the quest and every 10mins and Can be Painted to show it in Detail.

Sneak
+10 = Stealth - Less likely target to Prey Types and Boss Monsters. (Boss only works in Groups)

-10 = Taunt - More likely Target to Prey and Boss Types.(Boss only works in Groups)

Carving
+10 Carving Iron Man -Weak attacks no longer stop you form carving
+20 Carving Celetbrity - You get a Extra Carve and Weak attacks no longer stop you form carving.

Whim 
+15 Divine Whim -Even Lower chance Axes/Bugnets will break.
+10 Spirit's Whim -Low Chance Axes/Bugnets will break.

Fishing
+10 = Fishing Expert -More time to Catch.

Fate
+15 Increases Awards More (mostly reguler items)
+10 Increases Awards (mostly reguler items)

-10 = Bad Luck -Decreases Awards

Tranquilizing
+15 = Tranquilizing Celeb -Even Better Chance for more Awards on Captureing a Monster.
+10 = Tranquilizing Whis -More Awards for Captueing a Monster.

Perceive
+10 = Tranq Guru - When Painted and Low on HP. Marker will turn Yellow when monster is ready for Capture.
(picture)

Speed Up Skills

Cooking -Oldly named, But increase or decreases rate at which you eat items.
+10 = Quick Eating -Eat Items at twice the rate.

-10 = Slow Life -Eat Items at slower rate.

Sword Sharpner
+10 = Sharpening Skill Inc -Sharpen Weapon twice as fast.

-10 = Sharpening Skill Lowered - Takes longer to Sharpen Weapons.

Speed Set Up
+10 Trap Master - Set up Bombs and Traps in half the time.

High Speed Gathering
+10 = HiSpdGathr -Gather, Mine, Carve twice as fast.

Back Packing
+10 = Back Packing Expert - Move Faster and can fall from slighty higher heights with out breaking Egg Type items.

Short Charge
+10 Focus -Lowers the Charge times of Great sword Charge, Hammer Charge and Bow Draw.

-10 Distracted -Increases the Charge times of Great sword Charge, Hammer Charge and Bow Draw.

Bow and/or Gun Skills

Reload -Effects Bowgun reload and Coating reload.
+20 = Reloading Speed +3 -Increases reload speed
+15 = Reloading Speed +2 -Increases reload speed
+10 = Reloading Speed +1 -Increases reload speed

-10 = Reloading Speed -1 -Decrease reload speed
-15 = Reloading Speed -2 -Decrease reload speed
-20 = Reloading Speed -3 -Decrease reload speed

Auto-Reload -Bowguns can equip a bullet and fire all rounds. Bows never need to equip a coating, Just select and shoot.
+10 = Auto Reload

Warning, This Skill Gives all Bowguns Higher Recoil...Pretty much canceling out decent rate of fire.
It CAN NOT be gemmed out with recoil down.

Recoil -Lowers Recoil from Bowgun shots.
+20 = Recoil Reduction +2
+10 = Recoil Reduction +1

Precision
+10 = Shell Deviation Down -Bowgun shots stay more on center/ Bows lose range, but gain damage.

Capacity
+10 = Capacity Up -Increases the amount of ammo a bowgun holds OR Add next Level Charge for Bows.

BowGun Example: DualCastor Holds 2 bullets for Perice, With Capacity. It now holds 3.
Bows Example: Sonic Bow I Has Lv1 thru Lv3 Charges. With Capacity it gains a Lv4 Charge.

Normal S Up
+10 = Normal S/Rapid Bow Up  -Increases the Damage of Normal Shots and Rapid Shots.
 
Pellet S Up
+10 = Pellet S/Scatter Bow Up -Increases the Damage done by Pellets and Scatter.

Pierce S Up
+10 = Pierce S/Pierce Bow Up -Increases the Damage of Pierce Shots from Bows and Bowguns.

Normal S Add
+10 = Normal S All Lv Add -Adds Normal level 1 thru 3 Shots to a gun.

Pellet S Add
+15 = Pellet All Lv Add -Adds all Level of Pierce Shot to your bowgun.
+10 = Pellet S Lv1 Add -Adds Level 1 Pellet Shot to your bowgun.

Peirce S Add
+15 = Pierce S All Lv Add -Adds all Level of Pierce Shots to your bowgun.
+10 = Pierce S Lv1 Add -Adds Level 1 Pierce Shot to your bowgun.

Craig S Add
+15 = Criag S All Lv Add -Adds all Level of Craig Shots to your bowgun.
+10 = Crain S Lv1 Add -Adds Level 1 Craig Shot to your bowgun.

Clust S Add
+15 = Clust S All Lv Add -Adds all Level of Cluster Shots to your bowgun.
+10 = Clust Lv1 Add -Adds Level 1 Cluster Shots to your bowgun.

Coating Add SKills -Allows Useage of a Coating to the Bow equiped.

PowerCAdd
+10 = Power Coating Add

ClsRngCAdd
+10 Close Range Coating Add

PoisonCAdd
+10 = Poison Coating Add

ParalyCAdd
+10 = Paralysis Coating Add

SleepCAdd
+10 = Sleep Coating Add

Shot Mix
+10 = Bullet Limit -Make max amount of a item.
Example: Combine Huskberry + Needleberry makes 2 to 4 bullets. WIth Bullet Limit, you make 4 every time.

SteadyHand* (White Fatalis Z Armor)
+10 Straight and True - Increase Damage for Normal, Pierce and Pellet Shots.

*Does not have Gems

Other Assorted SKills

BBQ
+10 = BBQ Celebrity -Cooking Steaks is much Easyer

Horn
+10 = Flute Expert -Hunting Horns song last longer, and Flute break less often.

Everlasting
+10 = Item Useage Improved -Edible items Last longer. (Exam: Mega Juice last longer)

-10 = Item Useage Delined -Edible Items Last Shorter.

Throw
+10 = Throwing Skill Up - Increase Distance for thrown Items.

Hear Protect
+15 High Grade Earplug -Immune to all roars
+10 Ear Plug -Immune to Small Roars

Small Roars= Red/Blue Rathalos, Green/Pink Rathain, Blangonga, Garuga, Tigrex, Nargacuga, Rajang, Kushala Daora,
LunaStra and Teostra.

Quake Res
+10 = Quake Resistance -Prevent stutter from ground shakes. Shen Gao Ren, Blango/Rajang Slam etc.

Anti Theft
+10 = Anti-Theft -Prevents theft of items from Gypceros, Melynx and Chameleos

Fencing
+10 = ESP -Allows you to Perice Hard skin with no bounce. Thats it, you will still do reduced damage.

BombStrUp
+10 = Bomber -Bombs do 50% more Damage.

Alchemy
+10 = Alchemy -Allows you to make items from Alchemy Combo List.

MixSucRate -Increase or decrease the combine rate.
+20 = Combine Success +45%
+15 = Combine Success +25%
+10 = Combine Success +15%

-10 = Combine Success -5%
-15 = Combine Success -10%

Comrade Attack up
+10 = Comrade Attack Up -Increase Felyne Fighters Attack.

Comrade Defense Up
+10 = Comrade Defense Up -Increase Felyne Fighters Defense.

Comrade Guide
+15 = ComradeGuidance&Trade -Increase Experience and Skill points for Felynes after a quest.
+10 = Comrade Guidance -Increases Experience after quest for Felyne Fighters.

Torso Inc -Doubles the Base Value of the Chest Armor piece.

Example.
Capcom Shirt (not real item or skills)
Master +2
Party +4

With 1 torso Inc
Capcom Shirt
Master +4
Party +8

Capcom Shirt with 2 Torso Incs
Master +6
Party +12

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That should cover the armor skills. Did I miss one? Didnt understand way i explained it?

Pm me. >_>