Good Financial Reads: Trading Secrets by Louise Bedford

Good Financial Reads: Trading Secrets by Louise Bedford

Book Review: Trading Secrets

Learn killer trading secrets

I chose ‘Trading Secrets: Killer Trading strategies to beat the markets and finally achieve the success you desire’ by Louise Bedford as the best book to give the novice an introduction to share trading.

I think for the average medium to long term share investor; this book is a good place to start. Many of the other books I like and will review give a lot more detail on technical analysis for the short term trader. For most people, this information is way beyond their needs. This book will give you a well-rounded view of the factors you need to consider when investing in the share market.

The first book I read from Louise was ‘The Secrets of Candlestick Charting’, in 2000 and is still available with an updated version. For those of you unfamiliar with charting, candlestick charting was a method of charting the price of anything developed by the Japanese hundreds of years ago. Each candle, and in fact, each series of candles, will create a story about the share price and will suggest where the next movement in the share price is likely to go. Learning to read candlesticks is like reading a book. Louise is the expert to take you on this learning experience.

Trading Secrets will take you through the technical terms and get you comfortable with what you may achieve as either a beginner or a more experienced share investor. Getting the basics is important and from there, she will take you through the process of how you can trade successfully. She spends a lot of time giving sound advice on the philosophy of share trading and what you need to consider if you decide to make this activity an important part of your life. During the book, she comments on, and recommends, strategies developed by some of Australia’s leading share market guru’s. Therefore this is the best book to get you started. From there you can decide which other books you should read to increase your knowledge.

Now many people think, ‘I am not a trader, I am an investor.’ However, everyone who buys a share is a trader. It does not matter whether you bought the share when you saw the opportunity for a possible quick profit or you were considering buying this share because you thought that on the basis of strong accounts, fundamental analysis, and good dividends, this is a share which would add value to your portfolio over the long term, you are still a trader. You should never buy a share without writing down under what conditions you will sell that share. Louise Bedford gives sound advice on how to manage the purchase and sale of your shares.

Louise will take you carefully from the ‘trainer wheel’ stage to advanced trading. She is a master teacher. At the end of each chapter, she has a review section, where she asks a series of questions about what you should have learnt and will provide the answers. For those of you who like her books, you may want to consider some of the trading courses available on her website The Trading Game.

 

This book review was written by Glenis Phillips, F Fin

Disclaimer: Financial Mappers does not have an Australian Financial Services License, does not offer financial planning advice and does not recommend financial products.

I am a founding board member of Plencore Wealth Ltd and Plencore Online Pty Ltd. I am the designer of the product Financial Mappers and Financial Mappers PRO, cloud based modelling software for Personal Finance. This software is sold on the web site www.financialmappers.com.au.I am an educator, investor and expert in both personal finance and mathematical modelling and the author of 'Map Your Finances'.I have both a Graduate Diploma in Applied Finance and Investments and a Diploma in Financial Advising from the Securities Institute of Australia. I also have a Financial Analysis Certificate, by Distance Learning from University of Technology, Sydney. I am a Senior Fellow and Senior Mentor of FINSIA.
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