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Ask Louise

Got a question? You’re in the right place!

A lot of traders tend to ask me similar types of questions about the markets, or about trading in general. So that I have enough time to spend with my gorgeous young family, would it be OK with you if I saved you from days of waiting for my response (which is what will happen if you email me)?

I suggest you find out in advance whether the answer to one of your questions is right here on this web page. If you can’t find your answer here, try checking the Support/FAQs tab in our menu. There’s a heap of other information for you there as well. Once you’ve checked in these spots, if your question hasn’t been answered, then feel free to email me at:

(Please re-type or copy and paste this address into your email message to me. Thanks.)

I’m really keen on hearing more about the Mentor Program. can you tell me more about it, and let me know what should I do to prepare for it?

We love helping people who want to take control of their sharemarket returns. It’s our goal to put money into share traders’ pockets and make it stick, even if they only have 30-minutes a day available, and limited knowledge about trading. 

You’re the type of person who knows that you need to take action to achieve exceptional trading results. With the incredible systems we’ll help you develop, and our commitment to supporting you as you learn how to trade, we’ve made learning to trade effectively easier than ever.

Past Mentor Program attendees have had some outstanding results directly due to their participation in the program.If you’d like to see what some of them have to say, you can have a look at this page. If you’d like to investigate even further, have a look at this page, and this page as well. Most of the people on the ‘Rave Reviews’ section of the site have completed the program, and because we use a ‘buddy’ system where you’ll be teamed up with a past Mentoree as a ‘buddy’, you’ll most likely get to know some of these people very well.

The Mentor Program is face to face, online multi-media and forum based. If you’re interested in finding out more about Mentor Program, I suggest you register for priority notification and you’ll get to watch a 33-minute video about the Mentor Program and trading. You’ll also get other free trading resources and advanced notice of when we open for bookings for the next Mentor Program.

We run the program once a year, it lasts for 6 months, and you have the ability to repeat the program as many times as you like for FREE. We’re so excited about it all and what it can mean to our mentorees.

To prepare for the program, you can’t go past our Mentor Program Foundation book pack.

Louise, which software do you recommend?

There are a heap of different software packages available to help you progress towards your trading goals. In our experience, the best is Beyond Charts+.

However, there are also others that do a great job, such as BullCharts and Amibroker.

If you intend doing the Mentor Program, you’ll be required to have Beyond Charts+ as this product is required for the advanced strategies you’ll learn on that course.

Who is your favourite broker, Louise?

Well, this one is an easy one! It has to be the fabulous IG markets. Click here for more information about them, and how you can get started.

How should I start learning about the sharemarket?

Firstly, if you haven’t registered on our website for our FREE 5-part e-course and my trading plan template, you really need to get this done right now and you’ll be on your way to trading success.

Secondly, I suggest you start reading books. They are one of the best sources of education regarding trading. The Shop section of this website will list a large array of books to choose from that you can order online. However, sometimes it’s difficult to know exactly which book will suit your level of experience.

Here is a guide to assist:

Introductory – Intermediate Books

Bedford, Louise Trading Secrets, Wrightbooks, July 2012
Bedford, Louise The Secret of Candlestick Charting, Wrightbooks, Reprint 2001
Tate, Chris, The Art of Trading, 2nd Edition, Wrightbooks, 2001
Weinstein, Stan, Secrets for Profiting in Bull and Bear Markets, Irwin Professional Publishing, 1988

Books on Trading Options and Downtrends

Bedford, Louise The Secret of Writing Options, Wrightbooks, Reprint 2000
Tate, Chris Taming The Bear, Wrightbooks, 1999
Tate, Chris The Art of Options Trading in Australia, Wrightbooks – A Division of Wiley, 2002

 

Trading is driving me around the bend! I’m starting to lose sleep at night. Louise, what do you suggest?

Oh my goodness, you poor thing! I can hear your angst. Damn, trading can be stressful, can’t it. Enough to drive you upthe wall! I can tell you though that there have been MANY traders in your situation that have found a way to burst through, and they’ve ended up becoming consistently profitable.

To me, it sounds like you are experiencing some sort of block, that may not actually be related to trading specifically.Here is what I suggest:

  1. Consider having a few more psychology resources available to you that are trading specific such as my Trading Psychology Home Study Course and our Psychology Secrets CD. These are incredible resources.
  2. Have a look at this website - www.stressfree.com.au.The guy who runs that site is Daryl Wilkinson. He is incredible, and I’ve actually been to see him on clearing some trading blocks personally, as well as other things I’ve dealt with from time to time.His CDs are terrific, under-priced, and life changing. Consider making an appointment with him, and really getting into the heart of what is frustrating you. I’ve sent HEAPS of traders to him over the years, and we are all raving fans.
  3. I realise that this is a tricky thing to say over a website, as the written word doesn’t convey tone effectively, however, when you read this, realise I am saying this with the most deeply caring tone of voice.Keep in mind that the market tends to provide a mirror for us. If things aren’t ‘right’ emotionally, the market acts as aprism, and our emotions tend to reflect our results (it’s not just thatthe results we achieve create our emotions). Everyone needs to blow offsteam from time to time. We also need people to talk to when things getoverwhelming. Have you considered going to somewhere like Beyond Blue or finding a counselor (potentially Daryl),that you can trust, and unload on? I think it would do you the world ofgood, and you’d be surprised how many traders use this strategy when they get over-cooked.
  4. Some traders with a winning system pay people to take the signals and trade for them. That could work if you’ve developed a robust trading system, but you’re having trouble taking the signals.

Finally, I think the thing to realise is that most of what we go through emotionally is temporary, even though it doesn’t seem that way when we’re in the middle of it. The fact that you’re reading this is a big step in the right direction. We all need toremember the support systems that we have available to us, as it willjust make trading seem a lot less lonely. Keep in mind that most traders have felt the way you are feeling right now, and it’s the ones who burst through that end up being successful.

Hope that helps.

General Advice Warning

Trading Game Unit Trust © 2002 – 2013 (ABN: 18 418 996 042) is an Authorised Representative of Weather Pro Pty Ltd, Rep No. 418664, AFSL 419155. The Trust is affiliated with The Trading Game © (ACN: 099 576 253), Louise Bedford, Chris Tate, Art of Trading Pty Ltd, Trading Secrets Pty Ltd and Trading Game Pty Ltd. This information is correct at the time of publishing and may be not be reproduced without formal permission. It is of a general nature and does not take into account your objectives, financial situation or needs. Before acting on any of the information you should consider its appropriateness, having regard to your own objectives, financial situation and needs.