Louise Bedford: Trading Secrets Can Be Yours

LEARN FROM GENERALS OF THE MARKETS - PART 23

“After trading for this long I feel I should have some brutal stories, I don’t! I guess I

had great sources for learning and I always had a good grasp of risk management.” - Chris Cashman

Louise Bedford (a wife and a mother) is one of the best female traders on this planet. This notable Australian obtained degrees in Business and Psychology, and has proven to be able to survive all market conditions. When it comes to making complicated trading topics look as simple as ABC, she’s superior. With her teaching skills, and assiduous coaching endeavors, she’s assisted many formerly trading novices to metamorphose into experts. She’s presented some coaching works, including trading methodologies that can speed up one’s learning curve. Even, many other trainers have followed her examples by using her models while training others.  With great zeal, many people have been assisted to be the best traders they can be. As a result of this, she’s a highly sought after guest speaker at trading seminars and conferences. She’s authored some popular trading books like: ‘Trading Secrets,’ ‘Charting Secrets,’ ‘The Secret of Candlestick Charting and the Secret of Writing Options.’ You can benefit from Louise’s excellent tutorial services by accessing her website at: Tradingsecrets.com.au.

Lessons

The most interesting thing about Louise Bedford is what you can learn from her example. Here are some of the lessons:

1. It’s part of Louise’s trading tactics to stay away from the markets that aren’t sexy. Trading the markets that move protractedly in a zigzag or sideways or highly unpredictable manner can’t improve your trading stats. Trade only sexy and attractive markets, i.e. the markets that are trending well (moving in a predictable manner).  

2. There are highly successful traders who’re also effective trading coaches, just like Dr. Van K, Tharp, Joe Ross, Steve Ward, Ken Long, Mike Baghdady… Louise Bedford, etc. These people have left indelible footprints in the world of trading (and they’re still active). Learn from them; learn from other great coaches whose names aren’t mentioned here. But you need to follow their track records first. I don’t think people can give what they don’t have. If a coach can’t trade successfully on their own, can they teach others to trade successfully? I prefer to take lessons from those who’re successful traders themselves. Are you facing recalcitrant challenges in trading today? Please enlist the help of a successful trader who’s also gotten a nice teaching talent. I’ve done it and it’s worked for me!

3. I’ll continue to reiterate that our women have some precious innate qualities that can be used to their advantage in trading (but mentioning those qualities is beyond the scope of this article). Hetty Green, Linda Raschke, Kathleen Brooks, Kathy Lien, Tillie Allison, Dr. Janice Dorn, Louise, etc., are trading experts. Profitable trading isn’t men’s birthright only. Your girlfriend can be a successful trader. Your sister can be a successful trader. Your aunt can be a successful trader. Your niece can be a successful trader. Your mom can be a successful trader. Your daughter can be a successful trader. Your sister-in-law, mother-in-law, or daughter-in-law can be a successful trader. Your half-sister or stepmother can be a successful trader.

4. What can you learn from trading coaches? You can receive peerless and insightful lessons from them, and these can take your trading experience to the next level. Louise Bedford, featured in this article, once included a helpful lesson in one of her past newsletters. Here’s an excerpt: ‘TRADERS – we’re an impatient bunch. Some of us take our foot off the accelerator just before we cross the finish line. The lovely Verica Cvetkovik shared these words of wisdom on our exclusive Mentor Program forum: You take a little seed, plant it, water it, and fertilize it for a whole year, and nothing happens. The second year you water it and fertilize it and nothing happens. The third year you water it and fertilize it and nothing happens. How discouraging this becomes! The fourth year you water it and fertilize it, and nothing happens. This is very frustrating. The fifth year you continue to water and fertilize the seed and then... take note. Sometime during the fifth year, the Chinese bamboo tree spouts and grows 90 feet in 6 weeks.

            Life is much akin to the growing process of the Chinese bamboo tree. It is often                    discouraging. We seemingly do things right, and nothing happens. But for those who do things right and are not discouraged and are persistent, things will happen. Finally we begin to receive the rewards.’ (Source: Tradingsecrets.com.au). Did you know that someone who’s planted a cacao tree will need to wait for 4 years before he/she begins to harvest? We shouldn’t give up trading if we face initial challenges. Our breakthrough is nearer than we may imagine, and once we attain it, trading would become far easier. It’s extremely difficult to achieve permanent victory in the markets if we aren’t doggedly patient.  

5. Everyone was born into this world with a potential for becoming a great trader. But as you expect, it’s one thing to have the potential to be something, but it’s entirely a different ball game to run in the race and actualize the potential.  If you want to be a top trader, acquire a good trading skill. The market needs diligent, hardworking and skilled traders to tap its riches. You can’t afford to trade the ways others are trading and become a successful trader. Others hold onto their negative trades and truncate their positive traders, but you can’t afford to do that. Every potential market wizard would need to face severe situations, circumstances and experiences before becoming a market wizard. The one who’ll excel must be disciplined. You can be great. There’s a crowd at the bottom, but too few at the top. There’s a plenty of room at the top, but the issue is whether you’re willing to do the work that’ll qualify you for the top. To remain on top, there’s a need to continue to improve your skill and knowledge. Try things a bit different from how you normally do them.

6. As unpleasant as losses are, for all traders, it’ll take facing losses triumphantly to move you to the next level in trading. May the losses that come your way from now bring out the best trader in you. Are you a facing some losses today? Congratulations! You’ll come out being a victor. Losses are an assurance that there is something greater on the other side. It’s your risk control tactics that will show your probability of survival in the long term. It’s foolishness to trade the markets without risk control measures.

Conclusion: Profitable traders face many of the challenges we encounter, and they overcome them successfully. Some of the sweetest moments of our trading life have been during the most difficult days. After all, we trade out of genuine love for it. Not only we do the right things on the markets but we’ll enjoy doing them and also get rewarded. Market wizards’ trading ideas benefit not only themselves but anyone who learn from them.

This article is concluded with a quote from Louise:

“You see, we live in an age of entitlement where the majority of people expect to win, and often give up at the first sign of a struggle. They seem to think that all they need to do is take that first step, and success will be assured… However, you and I know that this isn't the case. The first step, while hard to make, is simply that... it's just the first step. To really excel, you must continue to push forward.”

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

For more articles, go to: http://www.advfn.com/newspaper/authors/azeez-mustapha