Louise Bedford wrote a sensational book called “Trading Secrets” which covers the basic concepts of trading in the sharemarket.
If you’re new to the stock market and would like to learn how to trade successfully, this is a great book to help you get started.
Louise covers the following key fundamentals when it comes to trading the sharemarket.
- Basic charting
- Basic candle sticks
- Basic technical analysis
- The importance of a Trading Plan
- Managing your emotions
- Two types of traders
- Gender specific trading styles
- Female perspective on trading
- and much more.
The book comes with exercises where you can write your notes and answers to the key questions outlined by Louise. I think this is a great way to retain your learning and ensure that you follow the points correctly. Since we are trading your own money in the share market, I think this goes to show that Louise genuinely cares and wants you to succeed as a trader.
Managing Your Emotions
One of the biggest challenges when it comes to trading are emotions. When you take a loss and see your account go into the reds, it really messes with your thinking. You tie money into objects that you cherish.
For example, if you take a loss in the share market, you may look at your losses as rent money or a bag of groceries and you’ll end up being homeless or be starving yourself to sleep.
This can really take it’s toll on your mental health for the psychology behind trading is a huge factor in determining whether you’ll be a successful trader.
I interviewed Louise Bedford and she said that she took a huge number of losses before she started trading successfully. It’s just part of the game and a fear that needs to be conquered.
I must admit, I struggle a lot when it comes to taking sequential losses in the market and as a guy, I would seek revenge on the market which Louise ill advises.
This is a fantastic chapter where Louise shares with her her techniques in managing your emotions.
If you’re looking for a great book that teaches you the basic foundations of trading, this book is for you. I managed to finish the book in a week for it was clearly written, comes with exercises and lots of pictures to make it easy on the eye.
I know trading can be very intimidating as it was for me but when I started reading Louise’s books, she was able to break it down in an easy to understand fashion that even a kid like me can understand.
To find out more about Louise’s books, please visit www.talkingtrading.com.au
Stay Strong and Be Relentless.