A lot of the toughest battles are won in the mind, so having a mindset that will be able to get you through the ups and downs of share trading (and property) is crucial! So how do you navigate the risks and form a mindset that will ensure your success?
Like property, trading comes with risks and challenges, and developing the right mindset to combat any doubt that will prevent you from reaching your goal is incredibly important. So how do you navigate the risks and form a mindset that will ensure your success?
Goose and Louise talk about Louise’s beginnings, what makes trading so appealing despite the risks, the Kelly Principle, developing a “success” mindset to get you through the ups and downs, the characteristics you need to succeed, and more.
About Goose McGrath
Goose McGrath is host of The Investor Lab Podcast. This podcast is the auditory epicenter for passionate people looking to create a life of freedom, choice, and abundance
Connect with Goose
● The Investor Lab Membership (https://theinvestorlab.com.au/jointhe…)
● Dashdot Buyers Agents Website (https://www.dashdot.com.au/)
● Limitless: The Renegade’s Guide to Building Wealth Through Property – Goose McGrath (https://www.renegadespropertybook.com)
● Ready to work with us directly? (https://dashdot.com.au/discovery)
About Louise Bedford
Louise is a best-selling author and the founder of www.tradinggame.com.au. She and her business partner, Chris Tate, and have been running their repeat-for-free Mentor Program for the past 22 years. They provide simple techniques that you can implement straight away, and valuable resources to enhance your trading so you can maximise your profit potential.
To get in touch with Louise
At around the 41 minute mark, Louise mentions a poem that meant a lot personally to her. Here is that poem by Albert Camus:
“In the midst of chaos, I found there was, within me, an invincible calm. In the midst of winter, I found there was, within me, an invincible summer. And that makes me happy. For it says that no matter how hard the world pushes against me, within me, there’s something stronger – something better, pushing right back.”
Beautiful isn’t it!
In this episode, we cover:
● Welcome to The Investor Lab! [00:00]
● Who is Louise and what does she do? [02:49] ● Her early life & start in the trading industry [04:54]
● Her & her husband’s teamwork in property and the sharemarket [09:15]
● Why is trading appealing despite the risks? [13:23]
● What’s the success (and fail) rate in trading? [16:03]
● 3 elements that will make trading easier & simpler [17:29]
● Why the 48% win percentage isn’t the end of the world [20:55]
● The Kelly Principle [24:06]
● Louise’s thoughts on the hedge fund versus ETF argument [25:14]
● What’s the minimum entry point for trading? [28:22]
● Developing a good mindset to succeed in the sharemarket [31:28]
● What Louise means by having a “system” [34:03]
● How to keep a solid mindset to succeed in trading [40:00]
● The biggest thing people need to overcome [44:21]
● What success means for Louise [46:48]
● 3 simple truths she’d love to leave behind for others to learn from [49:34]
Photo by Burak The Weekender from Pixaby