Today’s success tip comes from Lyn Summers.

Having overcome a battle with cancer, Lyn travelled to the US to learn how to trade the stock market. She then co-founded Stock Course and has enjoyed consistent returns of 2-6 per cent month.

What do you think are the essential qualities of a successful share market trader?

Discipline - successful share market traders develop trading plans and have the discipline to stick to them. If they don’t, they lose!

Patience - new traders often make the mistake of over-trading. They think they need to be in the market at all times. That’s not right. Successful share market traders understand that when the market is choppy and they’re not sure what it will do next, the smart thing to do is to sit on the sidelines and wait. Successful traders also let trades come to them. They watch for the right set, and wait until all of their criteria are lined up. They don’t anticipate!

Perseverance - every trader has losses and anyone who tells you otherwise is kidding you. Successful traders learn from their losses, dust themselves down and get back into it. This is why it is a good idea to paper trade in the beginning until you get it right.

Tune back next week for more success tips.

Take care,

Allan Poole

Today’s success tip comes from Nik Halik.

Having completed a doctorate of music in the USA, Nik went on to develop a career as a stock market trader. Now he is a teacher and educator and spends his time climbing mountains and training with the Russian Orbital Space Program.

What are your top six stock market trading psychology tips?

To trade successfully, we need to dial into a frequency, or zone, of higher consciousness and prosperity. There are six important prerequisites to allow entrance into this zone:

1. Confidence - as a trader you must be confident in your trading method and believe that you will succeed if you implement your trading plan. This allows you to place your entries and exits promptly and thoroughly.

2. Focus - a narrow focus on the task at hand is required to get into the zone. Fears about the outcome and regrets about past losses do not exist here.

3. Visualisation - a successful trader pictures what success looks like and gets in the zone through a visual processing of data. Verbal cues can take a trader out of the zone.

4. Pleasure - those who view trading as work will struggle to find great trades, while those who love trading will feel in harmony with the markets and find opportunities more easily.

5. Relaxation - fear tends to take you out of the zone. Stay relaxed in order to stay in the zone.

6. Excitement - some tension can help performance, but too much intensity will create undue stress, and hurt performance. Remaining excited about what you are doing can ease that tension.

The other element traders need to dial into the zone is preparation. Larry Bird hit key shots under pressure in basketball games because he had practised dealing with this pressure; it became automatic for him and increased his confidence. Traders must do the same thing and spend time making trading skills ‘automatic’ and creating winning trading habits. Preparation and practise allow you to develop the skills you need to stay in the zone.

Until next time,

Allan Poole

Hi, Welcome today to my blog. Today we are looking at one of our experts from the iLifestyleClub web site, Daniel Kertcher.

We recently had the pleasure of attending a seminar run by Daniel. Daniel is an expert in the field of trading Options and CFDs on the Australian and US stock markets. For over 10 years now, Daniel has been actively investing in the stock market.

He now not only continues to actively trade, but also has become a trainer of many thousands of people worldwide who want to learn about the stock market. He began learning about trading Options and more recently has branched out into CFDs – which is now his preferred method of trading on the stock market.

Daniel also teaches his clients about trading Gold, Silver, Oil and other commodities.

Even when the stock market is at its worst there is money to be made. Daniel says, “It is important to remember that money never disappears from the market, it is just transferred from the people who used to have the money to the people who now have it!”

It is important to learn before jumping into any trading strategy on the stock market.

I heard a saying recently that “the stock market was created to transfer wealth from the uneducated to the educated!” Hence it is important to remember that knowledge of the market and financial and emotional intelligence are important to learn BEFORE beginning to trade.

Here is a photo of Greg and I with Daniel at his seminar.

Until next time.

To your success and fulfillment in life!

Leanne Annett