First published in 2013 by Wrightbooks an imprint of John Wiley & Sons Australia, Ltd 42 McDougall St, Milton Qld 4064
Ofce also in Melbourne
Typeset in 12.5/14 pt Perpetua Std Regular
Louise Bedford 2004, 2007, 2013
The moral rights of the author have been asserted
National Library of Australia Cataloguing-in-Publication data:
Author:Bedford, Louise
Title:Charting secrets: Trade like a machine and finally beat the
markets using these bulletproof strategies/Louise Bedford
Edition:Revised ed.
ISBN:9781118543184 (pbk.)
Notes:Includes index.
Subjects:Stocks Charts, diagrams etc.
Stock price forecasting.
Dewey Number:332.63228
All rights reserved. Except as permitted under the Australian Copyright Act 1968 (for example, a fair dealing for the purposes of study, research, criticism or review), no part of this book may be reproduced, stored in a retrieval system, communicated or transmitted in any form or by any means without prior written permission. All inquiries should be made to the publisher at the address above.
SuperCharts version 4 charts TradeStation Technologies, Inc. Reproduced with permission. All rights reserved. These charts were generated in 1997 and SuperCharts is no longer offered by TradeStation Technologies, Inc. New charting software is available through TradeStation Technologies, Inc.
Printed in Singapore by
C.O.S. Printers Pte Ltd
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Disclaimer
The material in this publication is of the nature of general comment only, and does not represent professional advice. It is not intended to provide specific guidance for particular circumstances and it should not be relied on as the basis for any decision to take action or not take action on any matter which it covers. Readers should obtain professional advice where appropriate, before making any such decision. To the maximum extent permitted by law, the author and publisher disclaim all responsibility and liability to any person, arising directly or indirectly from any person taking or not taking action based on the information in this publication.
Acknowledgements
A project like this just couldnt happen without loads of support. Without support, its easy to give up on a whim. This is what stops a lot of people in their tracks when theyre on the brink of success. As the years pass in my life, Ive found this to be more accurate than ever.
I feel very fortunate in my life to have been cocooned in the warmth of so many special traders from my Mentor Program. There are too many people to mention, but you know who you are. Youve given back so much to me, and I feel extremely grateful.
Thanks to Chris Tate (www.tradinggame.com.au) for being the best business partner I could ever imagine. Your ability to master complex trading systems and make them tradeable, even for terrified new traders, is just exceptional. Youve nudged and prodded me to achieve more than I ever believed possible, put up with my whines, and given me a proverbial whack across the side of my head when I needed it most.
Finally, my husband, Chris Bedford, has been by my side for more than half my life, supported me in my ambitions, and stood strong when I needed it most.
As youre reading this book, I know your goal is to trade like a machine, safely and confidently, never doubting yourself, with no ego. To achieve this goal, make sure you surround yourself with people who believe in you. Its one of the key differences between traders who excel and those who never achieve the results they yearn for.
Im a product of those who supported me, and those who were unreasonable friends (always challenging me to create and achieve more). Without that support, theres no way Id be the person that I am today. I would have surrendered my ambitions, submitted, and hung my head, not believing I was worthy.
My story
Years ago I climbed up the corporate ladder to achieve the role of a national sales manager. I was having an absolute ball, revelling in my ambition, loving every minute of it. Everything that I had aimed for was beginning to come true. However, everything wasnt as picture-perfect as it appeared.
At night, I would lie in my bed, staring at the ceiling, my heart racing. In my gut, I knew I was working far too many hours a week. Even though my career was booming, I was fast beginning to lose touch with my family and friends. When I really thought hard about it I realised I was getting up before the sun came up to go somewhere that sucked the best hours out of my day, only to spit me out as a used, exhausted shell when it was night-time again. Maybe you can relate?
I yearned for a life where someone else wasnt yanking my strings as if I was a puppet. I craved freedom, but I just didnt dare to believe it would be possible. Everyone I knew seemed to have a job or a business that devoured their youth and their creativity, so their family only got to experience the leftovers. I didnt have anyone to follow. I sensed there was something better out there, but because I didnt have an example to copy, I just kept on my treadmill and ran faster.
Then, just as I was at a high point in my career, something hit me out of the blue.
It started as a little niggling, aching feeling in my right ring finger. I began to drop things and sometimes my hand would jerk uncontrollably. I would be ripped out of a deep sleep with hand and arm spasms so painful it felt like my arm was about to give birth.
To begin with, I consoled myself. Its OK, I said. Its only one arm. Ill teach myself to do everything with my left hand.
Isnt denial so quick to step onto the stage of our lives?
Then, my left hand started to spasm as well.
With a creeping sense of dread, I realised that something very, very serious was wrong with me.
Over a period of a couple of weeks, I lost the use of both of my arms. Id wake up and hear groaning and then realise that it was me making strange sounds all because my hands hurt so much in my sleep. Id scream when I tried to dress myself. I couldnt feed myself. I couldnt hug my husband. It was the most painful thing Ive ever been through in my life (and frankly, given that Ive since been through childbirth twice without drugs, I feel Im in a position to judge pain).
I found that even simple tasks such as opening doors had become agonising. My performance at work began to suffer as I jumped on the health professional merry-go-round. From specialist to specialist I travelled. I was informed that it would take me several years to recover. Some of the less positive members of the medical industry did their best to obliterate any hope that I had of reaching a full recovery. I was told, you have to be realistic! No-one could specifically state what was wrong with me, and they were all taking guesses. My diagnosis came years later but at the time, the experts were of no use whatsoever.
My spirit was slowly being crushed. I fell into an abyss of blackness. I was completely vulnerable and terrified about what the future held.
The most basic physical functions were now daily challenges. I decided that I had to leave my corporate role. Frankly, they were glad to get rid of me. These days, loyalty to your employee just doesnt seem to register as being a worthy quality. Anyone who cant perform is shunned.
Life was looking bleak. I went from working more than 60 hours a week to struggling to feed myself. My self-esteem hit an all-time low. I had no idea how I would manage to eke out a living for myself, other than the faint glimmer of hope that trading represented.