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Weekly Ramblings of an Australian Stock Trader – incorporating ASXweekendtrader.com
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The TradingGame Newsletter July.

by strudy1

This informative newsletter was contributed with the kind permission of Louise Bedford who is one of Australia’s most recognised private traders. Louise is also the best-selling author of The Secret of Writing Options, The Secret of Candlestick Charting, Trading Secrets and Charting Secrets.

I highly recommend them to you as they are invaluable in locating those profitable stocks. You will find this article plus a host of other invaluable information by clicking on this link or why not subscribe to their free newsletter. Click Here.

The newsletter other trading professionals demand

 ”MONEY ISN’T IMPORTANT”. REALLY? I mean, really?

On my facebook page recently we had a top discussion about the meaning of money and how to shift your mindset. One chap piped up to say: “I hate money. I never have enough of it. I’m sick of trying to get it to stretch. If it wasn’t the need for money I wouldn’t have to work. Can’t see the point of workin’ myself to death just to keep myself alive.”

Well – this is such an interesting topic. Do you really hate money Bob, my Facebook friend? I know this may sound a bit harsh, but I’m a blunt kinda chick.

Money is important. Realising this is your first step to getting a heck of a lot more of it. If you don’t treat something with respect, it will slip away from your life. This holds true for people, emotions and money as well. 

Personally I’ve always respected and enjoyed money and derived a lot of pleasure through using money as a scoreboard to tell me if one of my hair-brained ideas works, or whether it’s not such a good one to pursue. I always LOVED beating my sisters at Monopoly. Still do with my kids – even though I have to tone back my competitiveness with that, because they’re only 9 and 5!

Money flows to us or away from us entirely based on how we think about money. Your level of income will rarely exceed your level of self development (so I’ve aimed to do one hell of a lot of self development in my life).

Let me ask you - do you observe and study successful people? I know I do. I make it a habit.

One huge thing is that they are all self-starters. They rely on themselves for motivation and they don’t sit around waiting for someone to inspire them. Sure they look to improve themselves by reading good books, going to seminars and gleaning what they can.

However, the seminar circuit can become addictive. All that hype without the need for action. All that propping up by strangers, until you feel like you can take on the world. Then, when you realise you haven’t achieved everything you were hoping, you go to another function to make yourself feel better.

Don’t let your merry-go-round of self-improvement seeking become your crutch that cripples you. Action counts.

Know this - when they’re alone, and in silence, the truly successful person doesn’t rely on anyone else for motivation. They summon their own resources from within. They motivate themselves to achieve greatness.

That’s where success is born. In the still, quiet of the mind, without the pumping music of a seminar to conflict and confuse your true desires. Your time to shine begins as a tiny spark of light in the tranquil peace of your own thoughts. Rely on yourself for motivation, but look outward for inspiration.

You are either attracting or repelling money. There is no middle ground. And it begins with you. Your thoughts and feelings about money create either a fertile breeding ground, or a barren wasteland of a bank account.

Change your views about money, or your views will become your reality. 

If you are one of the few hundred that joined us as new Trading Game members this month – you probably found that comment horribly harsh.

Not at all what you wanted to hear hey? You might feel like you want to run to Mum and tell her I’m being mean to you. If you can put up with a few uncomfortable, blunt truths, I promise you you’ll get really, really sharp at how effective traders think and behave. 

But you’ve got to start with reality, not dreams or hopes – or worse still – delusions.

Hang around here for a bit and you’ll actually feel yourself grow. You can either stay exactly where you’re at right now, or you can force yourself out of your comfort zone.

I guarantee you one thing. Either you grow, or you rot like a disease ridden corpse. There is no middle ground. The choice is yours – and I have a feeling you’ll make the right one…

OK – enough chatting in the hallway. The bell has rung and it’s time to get to class.

Happy trading,

Louise Bedford.

You can also find Louise Bedford on Facebook and Twitter.