Louise Bedford is a best-selling author and Founder of www.tradinggame.com.au. She is a behavioral finance expert and has degrees in Psychology and Business. She’s been running a 6-month, repeat-for-free Mentor Program, since 2000, and she’s also the founder of a free, weekly trading podcast. In this episode of How To Trade It, Louise will inspire you to achieve your trading best. You don’t want to miss it!
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[03:22] Louise’s 3 main archetypes (aka “strategies”)[11:26] having a macro kill-switch[22:19] reviewing your trades for profitabilityArchetypes/Strategies
One of Louise’s keys to success is developing a really firm, marriage-material, ticks-every-box, kind of trade, which has everything that you are looking for and then matching that up with a well-thought-out strategy. Almost 80% of Louise’s trades are from breakouts when the market is trending up. The same is true for the majority of her mentoring students.
If you haven’t already established a statement to tell you how to handle trading issues, you must do that now. Louise says that it’s important to premeditate your trading. You must have a plan that is written down, so that you do not react emotionally while trading. When you find yourself doing poorly, it’s time to enlist the help of an experienced trader who is willing to delve into your plan to help you get back on track and achieve greatness.
Reviewing Your Trades
New traders should plan to go through an intensive review process every three months, while experienced traders should maintain an every six months schedule. You will quickly be able to gauge areas where you are excelling, as well as, identifying areas of weakness that need improvement.
Resources & People Mentioned
Chris Tate, The Trading Game (partner) - Get your FREE Trading Plan Template+ here!Patrick Walker’s TweetGretchen Rubin QuizLouise’s Grab your copy of the Complete Trading System This book teaches you how to build a trading system from the ground up and how to become profitable in the markets.
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