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I'm really keen on hearing more about the Mentor Program. Can you tell me more about it, and let me know what should I do to prepare for it?
We put money into share traders' pockets and make it stick, even if they only have 30-minutes a day available, and have limited knowledge about trading. You’re the type of person who knows that you need to take action to kick-start the trading results you’ve been achieving. With the incredible systems we’ll help you develop, and our commitment to supporting you as you learn how to trade, we’ve made learning to trade effectively easier than ever.
Our people have had some outstanding results because of their participation in the program. If you'd like to see what some of them have to say, you can have a look at this page and this page. If you'd like to investigate even further, have a look at this page, and this page as well. Most of the people on the 'Rave Reviews' section of the site have completed the program, & because we're going to use a 'buddy' system where you'll be teamed up with a past Mentoree as a 'buddy', you'll most likely get to know some of these people very well.
The Program is face to face, multi-media and forum based. This video will be provided with a bit more information as well, however, it will give you an idea about what we have in mind.
If you're interested in the 2010 Mentor Program, I suggest you register for the priority notification about the program, so that you'll be able to see the 33-minute video about trading. This will be a great start.
At this stage we'll be running the program once or twice a year, it will last for 6 months, and provide the ability to repeat the program as many times as you like for FREE. We're so excited about it all and what it can mean to our mentorees.
To prepare for the program, you can't go past our Mentor Program Foundation book pack.
Louise, which software do you recommend?
There are a heap of different software packages available to help you progress towards your trading goals. In our experience, the best is:
Metastocktm
However, there are also others that do a great job, such as BullCharts and Amibroker.
You'll find that most people tend to gravitate towards the industry standard - Metastock. Especially, if they're intent on completing our world class - Mentor Program, as this product is required for the advanced strategies you'll learn on that course.
MetastockTM is available from www.educatedinvestor.com.au. The Educated Investor bookshop acts as our online bookshop, and over the many years we've known the Director, Janene Murdoch, we've all become firm friends as well. Janene will be happy to provide you with Metastock, and then you can choose one of our data packages available on our site, so you'll have the most timely, accurate, up to date data available to traders.
MetaStockTM is a registered trademark of Equis International, Inc
Who is your favourite broker, Louise?
Well, this one is an easy one! It has to be the fabulous Jono, from Commodity Broking Services. Click here for more information about them, and how you can get started with a free demo of their platform.
How should l start learning about the sharemarket?
Firstly, if you haven't registered on our website for our FREE 5-part e-course and my trading plan template, you really need to get this done right now. Click here, and you'll be on your way to trading success.
Secondly, I suggest you start reading books. They are one of the best sources of education regarding trading. The 'Shop' section of this website will list a large array of books to choose from that you can order online. However, sometimes it's difficult to know exactly which book will suit your level of experience. Here is a guide to assist:
Introductory - Intermediate Books
Bedford, Louise Trading Secrets, Wrightbooks, July 2001
Bedford, Louise The Secret of Candlestick Charting, Wrightbooks, Reprint 2001.
Tate, Chris, The Art of Trading, 2nd Edition, Wrightbooks, 2001
Weinstein, Stan, Secrets for Profiting in Bull and Bear Markets, Irwin Professional Publishing, 1988
Books on Trading Options and Downtrends
Bedford, Louise, The Secret of Writing Options, Wrightbooks, Reprint 2000.
Tate, Chris, Taming The Bear, Wrightbooks, 1999
Tate, Chris, The Art of Options Trading in Australia, Wrightbooks - A Division of Wiley, 2002
Trading is driving me around the bend! I'm starting to lose sleep at night. Louise, what do you suggest?
Oh my goodness, you poor thing! I can hear your angst. Damn trading can be stressful, can't it. Enough to drive you up the wall! I can tell you though that there have been MANY traders in your situation that have found a way to burst through, & they've ended up becoming consistently profitable.
To me, it sounds like you are experiencing some sort of block, that may not actually be related to trading specifically. Here is what I suggest:
1) Consider having a few more psychology resources available to you that are trading specific such as my Trading Psychology home study course and our Psychology Secrets CD. These are incredible resources.
2) Have a look at this website - www.stressfree.com.au. The guy who runs that site is Daryl Wilkinson. He is incredible, & I've actually been to see him on clearing some trading blocks personally, as well as other things I've dealt with from time to time. His CDs are terrific, under-priced, and life changing. Consider making an appointment with him, & really getting into the heart of what is frustrating you. I've sent HEAPS of traders to him over the years, & we are all raving fans.
3) I realise that this is a tricky thing to say over a website, as the written word doesn't convey tone effectively, however, when you read this, realise I am saying this with the most deeply caring tone of voice. Keep in mind that the market tends to provide a mirror for us. If things aren't 'right' emotionally, the market acts as a prism, and our emotions tend to reflect our results (it's not just that the results we achieve create our emotions). Everyone needs to blow off steam from time to time. We also need people to talk to when things get overwhelming. Have you considered going to somewhere like Beyond Blue or finding a counselor (potentially Daryl), that you can trust, and unload on? I think it would do you the world of good, & you'd be surprised how many traders use this strategy when they get over-cooked.
4) Some traders with a winning system pay people to take the signals & trade for them. That could work if you've developed a robust trading system, but you're having trouble taking the signals.
Finally, I think the thing to realise is that most of what we go through emotionally is temporary, even though it doesn't seem that way when we're in the middle of it. The fact that you're reading this is a big step in the right direction. We all need to remember the support systems that we have available to us, as it will just make trading seem a lot less lonely. Keep in mind that most traders have felt the way you are feeling right now, and it's the ones who burst through that end up being successful.
Hope that helps.