07 May 2013
The newsletter other trading professionals demand
I OVERHEARD A CONVERSATION between my 10 year old son and my 5 year old daughter: “You have to understand that once Mum has made a decision, even if that decision is a stupid one, she will stick by it. She’s said ‘No’ to an icecream, so no matter how much you ask, she won’t be giving you one today.”
Hmmm… I stick to a decision even if it’s a stupid one! How dare he?!
How dare he speak the truth?
Yes, I can be stubborn. Yes, I do make decisions that are stupid. However, frankly, I’d rather make a stupid decision than no decision at all. I’m a bit believer in decisiveness. I have rarely agonised over my decisions or second-guessed myself. However, there have been a few.
When I first decided to leave my job and become a full-time trader, I did have quite a few sleepless nights. It was difficult because I was giving up my title as a National Manager, a company car, my lovely sales force and my ego. And… I was jumping off a cliff into oblivion.
I didn’t REALLY know if I had what it took to trade. The whole thing made me feel fluttery and light-headed, yet somehow totally alive and jubilant. It was that same heady combination of emotions that you get right before you throw up.
What if I’ve turned off my tap of income and can’t replace it? What if I’ve made a stand, only to find that I’m too terrified to make a real run at this? What if I have to get another job, or worse… what if I can’t find another job?
Still, letting go was the right decision.
If I had known what was awaiting me because of that decision, my guts wouldn’t have churned with the possibility of failure.
Is there something you’re delaying making a decision about? Is it fear that’s holding you back?
Change takes courage. It involves a process of grief where we say good-bye to the old, and grapple with the uncertain frayed edges of the new. Even accepting change takes courage.
I dare you to stop delaying. Get this one decision out of the way and you’ll clear the path for great things to happen. Don’t be one of those sad souls who wither because of analysis paralysis. Get moving, and then you’ll be a step closer to creating that future that you’re daring to hope for.
In this month’s newsletter:
Who Do I Envy?
WHEN I LOOK BACK, THE people I envy have altered over the years. When I was in primary school, I envied my three older sisters. They’d started to have social lives, go on dates, and drive long before I did.
When I was in secondary school, I envied people who had made a decision about what course they wanted to do at Uni. I also envied the social captains, the sports fanatics, the chicks who could do gymnastics, and that freaking beauty, one year ahead of me, with the blonde hair who was going out with that hunk from St Bede’s (our ‘brother school’).
I admire people with health issues that still battle on. Their reservoirs of courage are no deeper than ours, but they’ve had to dig deeper than the average person, just to survive. I especially admire the parents of children with disabilities. Their love pushes them to give selflessly.
There are loads of members of our Mentor Program whom I admire. The ones who have overcome personal hardship, and emotional disbelief that they could achieve in the markets, and the meek ones who have become lions as traders. I love watching them transform before my very eyes.
I don’t see that there is any virtue in being falsely humble about your accomplishments. The kind of self-esteem that it takes to become an exceptional trader needs to be fed and nurtured. If you’re waiting for others to acknowledge your accomplishments, particularly in the trading realm, you may be in for a very long wait.
Often, others’ praise for your achievements is surface level, fleeting, given grudgingly, and doesn’t acknowledge the full risk, work and sacrifice you truly needed to make. Yes, you do need to be supported, nurtured and nourished, but most of my traders find that they need to do a lot of that for themselves.
It’s okay to envy others. I think it’s almost impossible not to. But put the brakes on it for a bit. It is good to admire others, but remember to admire yourself, your own abilities, your own strengths.
Yes, I love to cheer my traders, but in reality, you’ll find that there are very few people who will do this for you. I do believe you should surround yourself with the dreamers and the action takers. I especially feel you should seek out those who see greatness in you, even when you don’t see it in yourself. However, be prepared to nurture yourself and be your own cheerleader as well.
My Trading Secrets Book is a TV Celebrity!
OH MY GOODNESS… MY darling Trading Secrets book recently made it’s TV debut on Channel 10, on Mr & Mrs Murder.
Watch the video here…
(video will open in a new window)
Trading Secrets 1st Birthday Sale
Mmmm… chocolate cake. Follow the recipe and you’ll get gooey, melt-in-your-mouth goodness. Get it wrong and you’ll create a lump of tasteless, bitter cement.
One year ago today, my new baby, Trading Secrets – Killer Trading Strategies to Beat the Markets and Finally Achieve the Success You Deserve was born. In it, I give you my ‘perfect trader recipe’. No wonder it instantly became a best-seller! It’s created trading results that others salivate over.
To celebrate it’s first birthday, I’ve got some incredible presents for you.
Only the quick will cash in.
The Bald and the Beautiful – A Meeting of Minds
THIS IS MORE ON THE “Louise and Chris” story continued from last month’s newsletter. Click here if you missed it… Thanks for the name of this article submitted by the lovely Mentoree – Jan Wilson.
For a couple of years, the bloke who sold me my data told me how he was friends with Chris Tate, and how the two of us would really get along well. He’d been in Chris’s ear too about me.. which is kind of funny, because if you knew the two of us really well you’d know that we’re polar opposites.
Chris is so insular, he’s basically a recluse. He is succinct, with a will of steel, heavily into the martial arts scene, and known for his incredibly aggressive trading style. An ex-broker, ex-scientist, and current full-time trader, he tends to repel as many people as he attracts.
Some back away because he does look quite intimidating. Others misinterpret his reclusive nature as being unfriendly. However, despite anyone’s views, EVERYONE respects his trading knowledge, gathered through years on the trading floor and as a private trader.
How could I get to know this guy better? How could I get a glimpse into how he thinks, how he approaches the markets, and what he has conquered to become one of Australia’s most recognised traders?
I didn’t have to wait for long. Chris sent me an email within a few days of us first meeting. He asked me whether I’d be willing to personally train people who contacted him about the markets – because he didn’t want to do it as it ate into his lifestyle. Immediately I said ‘yes’.
And so it began…
We began to meet once a month, then once a week, and then every few days. Trading rarely takes as much time as you think it will when you get started. Once you’ve nailed the concepts, the actual time it takes to trade is actually measured in minutes, rather than hours. So, the first fragile threads of friendship were based on boredom… and the need to spend some time with someone who was also living the life of a full-time trader.
As time went on, our friendship deepened. A friendship based on the love of the markets, and a focus on our trading community. Someone I could relate with, someone to commiserate with when the markets reversed suddenly, and someone who understood and cared.
He gave me confidence to realise that I may never have to go back and get another job, and that full-time trading might be just the thing for me as a vocation. You see, I was forced to move on from my job, and I was still adjusting to the thought that I may never be able to officially work again due to my ongoing health problems. No matter how happily we run towards our future,breaking a link with our past can still be painful. I was grieving for my ego-based manager role, unsure of my new identity and lonely for the companionship of my work mates that I sorely missed.
My new friendship with Chris represented healing from the past, and a future that looked bright. Little did we know at that stage that we would soon be up against some of the biggest challenges of our lives…
(If you’d like to hear more, then let me know, and if enough people are keen to hear the next instalment of ‘The Bald and the Beautiful’, I’ll do what I can to oblige.)
Does the Mentor Program Work and Can I Trust the People Involved?
LET ME COVER “DOES IT WORK?” first.
Recently, we submitted ourselves to, and passed, an extensive audit. This was actually conducted by a registered company auditor. That’s the highest level of auditing in Australia. We passed it with flying colours, and you’ll be able to see those results on our website.
The good thing is that we’ve shown we can make money across a variety of different market conditions. The markets can really only do three things: go up, go down, and go sideways.
A lot of you, I’m sure, are feeling the GFC crush. A lot of people have lost a lot of money from their super because they did not know when to stop trading. The good thing is, with the Mentor Program, we will teach you how to develop a macro switch. It’s acts as a macro filter to be able to tell you whether to trade or whether not to trade. We’ve developed this ourselves and we’re able to provide this exactly for you.
That audit shows that we make money whether the market is going up, down, or sideways – which means that you can make money whether the market is going up, down, or sideways. We can give you specific strategies and specific techniques so that you can continue to make money not just this year, but on and on and on into your future.
The lovely part about this is that we act as your parachute. There are so many people who have had life changes, even after doing the Mentor Program, that have had to rely on what they learnt from us so they didn’t fall into financial disrepair.We can do the same for you.
The other question to ask is “Can you trust the people involved?” Let me give you a little bit of background about me as well as my business partner, Chris Tate. We are your trainers. We do not palm off the training to somebody else who has perhaps less experience than us. We personally take you through step-by-step. We show you the specifics about how we make money out of the markets in every market condition. We’ll give you examples of our trades and we’ll give you the absolute confidence so you can do it for yourself.
We’ve been trading, for me, over 20 years; for Chris Tate, over 30 years. We’ve not only managed our own money, we’ve also professionally managed other people’s money. We are also an ASFL holder. That means we’re an Australian licensed holder for the financial services industry. That’s no slim task to be able to undertake. It takes study and it takes work.
I’ve got degrees in psychology and business. Chris Tate has degrees in science. The good part about that is we bring all of our background into the Mentor Program just for you.
Even better than that is because the people that we’ve trained are succeeding. Check out thoserave reviews. You will not find any negative information from somebody who has actually been through the Mentor Program – and they’re the people who count. If you think about it, it’s because we let people repeat the program as many times as they like, for free, so we have to be very discerning. We have to take the right people on board and we have to stick by them year after year after year.
You’ll get your chance very soon. Stay tuned for more priority notification videos. I’ll be releasing them quite frequently to you. It will give you the edge and confidence that we are the right company for you to train you – the right people with the right techniques.
Keen on hearing more? Register right now for Priority Notification, and I’ll give you a whole heap of freebies.
I GOT MY ‘WORK ETHIC’ FROM my Dad. He had his own business and I watched from a distance as he built it up and eventually sold it.
This work ethic is a blessing and a curse.
The curse is that I fight guilt when I’m not working. It can feel that going to a forest for the day to see if I can spot an echidna isn’t a worthwhile activity. That little flicker of ‘you should be working’ isn’t all that far away, even though at one level I know I’m ‘recharging my batteries’.
The blessing is that when I observe others, I am genuinely shocked at how little work they do, how disorganised they are, and how little they get done. It’s appalling to me that people make promises to themselves and those they love, then subsequently fail to do the work to make those promises a reality.
For me, the main thing I must learn to do is to avoid a trap of giving an 8, 9 or 10 in effort to an opportunity that really only scores a 3 or 4 (in size, importance, and the ability to create money or emotional satisfaction). Maybe you’re the same? What are you applying too much effort to and what do you need to apply more effort to?
Might be a good time to do some reassessment here.
Stay tuned for next month’s newsletter. I’ve got a swag of new thoughts to share that I know you’ll love to hear all about. You’ll especially like the article about ‘The inevitabilities of being a trader’, so keep an eye out for that one.
Until then, Happy Trading!