05 Mar 2013
The newsletter other trading professionals demand
PEOPLE’S LOVE AFFAIR with money has always fascinated me.
Want to see normal people do completely bizarre things? Add some money and watch the games begin.
How about the friend that disappears after you loan them some money. What’s going on there? Or the siblings that create merry hell at the reading of their father’s will. Or the bloke with the secret bank account that he isn’t telling his wife about. And then there’s the girl who spends too much to impress people she doesn’t like, with money she doesn’t have.
See… it makes ordinary people just crack up!
So is money bad? Of course not. Then what the heck is happening?
Money, in and of itself, is meaningless… until we empower it. We give it meaning and it’s our own thoughts and emotions around money that determine whether it’s a positive or negative force in our lives.
I guarantee you this – change your views towards money and what it means to you, and you’ll change your results as a trader.
When we realise that money is just a way of keeping score, and it’s nothing more than a tool – we detach from it’s power over us. We stop it’s control over our thoughts and our actions. Plus, ironically, this attitude paves the way for more of it to enter our lives. Some of the most greedy, money-hungry people I have ever met have barely any of the stuff.
Yet some of the most generous, philanthropic people (who don’t continually talk about their lack of money) – are some of the most financially wealthy people on the planet.
So which comes first? The attitude about money, or the money itself?
Having trained hundreds of successful traders, and seen them at every stage of their wealth development, I can definitely answer this one. The attitude towards money comes first. The way a trader thinks, always precedes their actual share trading results.
In reality, some rich people are poor and some poor people are rich. It’s just a matter of time until reality catches up with their mindset.
The best thing you can do to start altering your views towards money is to keep on reading this month’s Trading Game Newsletter. I’ve got some great gems in there for you. You’re going to love it.
You can also find Louise Bedford on Facebook and Twitter.
In this month’s newsletter:
– Write a Checklist
Write a Checklist
TREATING YOUR TRADING like a business is crucial for consistent returns. In this short video Louise talks about the effectiveness of writing a plan or a ‘checklist’ to enact and monitor your trading activities.
(video will open in a new window)
Positive or Negative?
WHEN DOES MONEY go from being a positive, to a negative force in our lives?
I’m not for one minute suggesting that there is any problem with being seriously financially wealthy, if that’s your goal. However, I am saying that our views about money can sometimes get out of kilter and damage our emotional well-being and our relationships.
Who’s a Clever Git Then?
I HAD A COUPLE OF lights that needed replacing in my tiny little ‘use once a week’ office. Plus, I was starting to fry on hot days, so there was something clearly wrong with the air conditioner.
Dealing With Change
I WAS HAVING A CHAT with my friend Michael Yardney, my real estate mate. We were talking about change and how some people handle it well, while others struggle. Michael gave me a neat little method that he personally uses to handle change. Works like a charm.
Ask yourself these three questions:
1) What is the worst thing that could happen?
Could you die because of the change that’s being forced on you? Could it be that you’ll hurt or alienate one of your closest friends or relatives?
Spell it all out because by putting it down on paper, you rob it of it’s power. Most change doesn’t end up physically harming us… but our caveman brain feels like it will. Our fight or flight primitive mind reacts to threats as if we were about to get mauled by a sabre toothed cat.
In reality, most changes don’t incur that level of extreme threat.
Then, ask yourself…
2) What is the best thing that could happen?
For example, if you’ve lost your job, you have a clean slate in front of you. You could find a much better job, recreate your life, develop new contacts, and perhaps even focus on developing your skills in a different arena.
3) What’s the most likely thing that will happen?
By asking yourself these three questions, it helps you remove the drama and get back to doing what’s important – coping with the change and ensuring you’re on track to use it as a spring board.
A lot of the emotional angst we feel in our lives is due to ‘catastrophising’ what is happening to us. If we apply a bit of ‘real thinking’ to our problem, we might just find that it’s an opportunity in disguise.
The ‘Louise and Chris’ Story…
THE YEAR WAS 1996. I was fresh out of my job, brand new to the world of full-time trading, and about to deliver my first 10 minute presentation to the Australian Technical Analysts Association.
Because of my ongoing illness, I had only around 20% movement in my arms and was in constant pain. But I knew how to trade, and that night, I was the warm up act for a celebrity in the Australian sharemarket scene – Mr Chris Tate.
10 Minutes with Tate
“Well, It’s Obvious Now”
Chris Tate has excelled yet again. He’s posted up his brand new video this morning.
Watch it now.
(video will open in a new window)
Mentor Program Kicks Off
ON SUNDAY THE 17th February we kicked off the 2013 Mentor Program in Melbourne. There was excitement, a lot of chattering, nervousness – and that was just Louise and Chris! (boom-tish). This program promises to be fantastic. There is movement in the markets and the time is right to set your plans in action. The Mentor Program is a 6-month course designed to enable you to trade confidently and safely, using your own bullet-proof trading plan.
You can get the ‘heads-up’ on when we’re running the next Mentor Program by registering for Priority Notification. Right now there are a bunch of excited traders on this priority notification list who have asked for “first preference” at getting into the next event, and who have qualified for some great free goodies.
Register now by clicking on this button:
The room abuzz…
Louise gets the ball rolling
Chris in action
I’LL BET YOU’RE A bit like me – I believe we all can change.