A lot of success habits don’t spring from our automatic instincts. We have to train ourselves to behave in particular ways.
We need to use the more ‘modern’ part of our brains, in particular, our parental control area called the pre-frontal cortex, to help guide our decisions.
That’s the part of your brain that suggests you shouldn’t eat that extra piece of chocolate cake… or have a bit of fun with that handsome stranger in their car.
So many people stall before they get to their goal, just as they can see it in plain sight. Know the feeling?
In this episode, I’ll discuss self-sabotage, and life stages, including warning signs to look out for in your trading journey.
Kate Hill, renowned author, joins me as we look at the Kafka Effect, and tease out methods you can use to kick-start your confidence and your trading results.
People are spreading themselves too thin when it comes to the stock market. They think they can do too much with too few resources, without the support either at home or of a mentor to show them the way to go.
This is especially true for women. According to research, female fund managers take less risk than their male counterparts for the same performance. Female fund managers are risk averse compared to their male counterparts and their position sizes are often lower.
Yet they consistently doubt themselves. On average, only 33% of women feel confident in their ability to make investment decisions.
Let’s start changing this – right here, right now.
In this episode you will learn:
- How the fog can set in before you achieve a goal and what to do about it.
- The importance of risk management.
- How the Kelly principle can help investors avoid losses.
Here’s what we cover:
[00:00:03] – The Kafka effect.
[00:06:06] – Do women make better investors than men?
[00:07:17] – Female fund managers take less risk under stress.
[00:12:09] – Don’t cap your potential.
[00:15:12] – Key aspects of risk management.
[00:16:53] – Diversifying your portfolio.
[00:17:51] – The Kelly principle.
[00:19:35] – Maintenance is the key.
[00:22:31] – How not to shoot yourself in the foot.
[00:29:05] – One trial learning and vulnerability.
[00:30:16] – The financially uninvolved woman.
Questions covered in this interview:
- It’s often been said that women make better investors than men. And I’ve heard that women in trading often make more money than the blokes.
- Tell me more about your experiences here and why you think that is.
- You say risk management is very important, Louise. What are some of the key aspects of trading that can be applied to the property markets?
- What would be the main ways people shoot themselves in the foot when it comes to trading the stockmarket?
- What would be the main things holding people back from success in trading and investing?
- Some people seem to get to a certain level of success and then they stall. Let’s talk about mindset – Why would that be?
- From a life stage point of view in a woman’s life, when are the danger ages?
More About Kate Hill
Kate Hill is a property investment advisor, a mentor and a buyer’s agent. She is the co-author of The Female Investor: Creating wealth security and freedom through property. Plus, she is the host of the Female Investor podcast. She’s also an award-winning property mentor, and she’s a successful property investor herself.
Get in touch with Kate
About Louise Bedford
Louise Bedford is a highly accomplished and experienced trader, educator, and author, with over 30 years of experience in the financial markets. She is the co-founder of The Trading Game, and is known for her unique approach to teaching trading psychology and market analysis.
Louise has authored several successful trading books, including Trading Secrets, Charting Secrets, and The Secret of Candlestick Charting. She is also a regular contributor to Ausbiz, the Your Trading Edge magazine, and is the host of the Master Your Trading Mind Hub at IG Markets Australia.
To get in touch with Louise