Property investors often make great traders in the sharemarket.
There are so many similar skills required to achieve excellence in both arenas.
Could it be that trading well is your hidden talent?
Perhaps, because of the skills you’ve developed in property, you could translate those skills to another arena and continue your success?
Take this 30-second quiz to find out once and for all if you’ve got what it takes to trade with flair.
Here are some of the skills you’ll need to trade well. I’ll bet you already have quite a few as a property investor. You be the judge…
1. You treat your investing as a business
One of the key similarities between successful people in all professions is that they start with the end result in mind.
If they want to make a million bucks out of their business, they set up a business that is capable of generating this amount of profit.
2. You’re organised
Traders who work to a written trading plan stack the odds in their favour.
The market is a more efficient, bigger and scarier opponent than you have ever faced in your life.
You cannot defeat it unless you ‘out-think’ and ‘out-plan’ it.
Being a great property investor means that you are used to juggling.
Trading well also requires this quality.
3. Your time management skills rock
Although this runs contrary to what 99% of people would have you believe — You have to put yourself above everyone else.
If you don’t take back your time and control your own time, you’re wasting your most precious resource.
You’ve got to embrace that you need to put your needs, your goals and your prosperity above everyone else’s goals.
You cannot allow anyone else to waste your most precious asset.
Your job in life is to be a visionary, a leader and a creator.
How you invest your time is the only thing setting you apart from those at the next level.
4. You get out of your comfort zone
Fact is, you’ve really got to watch who your surround yourself with.
Some people are like viruses while on the other hand, some people are tonics.
If you hang out with people taking risks, you’re more likely to feel comfortable with risk.
The magic happens outside your comfort zone.
5. You love to win
To be in control of my own financial future has always been very important to me.
That’s why it was inevitable that I would eventually find myself drawn to the sharemarket.
Naively, my entire goal from the moment that I began to trade was to tame the sharemarket and generate obscene amounts of money.
I wanted to produce enough income so that I would never have to rely on the potential mood swings of a boss in order to take home a pay packet.
At that stage, I didn’t realise that the primary goal of trading was to survive long enough so that the sharemarket could reveal its secrets to me.
Money is made as a by-product of following a sound trading plan, and adhering to the principles of money management.
I wanted to win at this.
By heck, I wanted to win.
That was the key driving force that kept me charging forward when things got tough.
Ed Seykota is one of the most famous traders in the world.
He was asked who is the most likely to make it as a trader.
His reply? “Those who love to win”.
Louise Bedford is a full-time private trader and author of The Secret of Writing Options, The Secret of Candlestick Charting, Charting Secrets and Trading Secrets. Download her free trading plan template from her website now and you’ll get her bonus 5-part audio course called ‘Trading Made Simple’.
Plus, you can do Louise’s new quiz called ‘Will I Make it as a Trader’ at this link: www.tradinggame.com.au/quiz. The results are so damn revealing, you’ll want to tell your friends about it.