3 Smart Money Lessons

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Today, I like to share with you a newspapers interview with the Standard. Hope you find these tips useful!

Frequently featured in TV and radio interviews, newspapers and magazine articles, Mirriam MacWilliams is a self-made millionaire and a much admired trader. Taking an initial starting capital of US$10,000, she grew it to over US$2,000,000 in less than two years in the stock market.

Over the years, she has justly established herself as an investment guru, passionately sharing with people her success in the stock market by using easy-to-follow, step-by-step strategies. Today, thousands of people from Hong Kong, Singapore, Malaysia, Indonesia and USA have benefited from her time-tested and proven trading strategies to create wealth, regardless of market direction.

Whether you are a seasoned trader or a complete beginner, you may be interested to learn more about the personal investment story of this well-liked icon.

 1. Never Give Up

An ordinary person starts his day in an ordinary way. Yet, with openness, persistence and observation, he may end up with quite an extraordinary result.  The once corporate high flyer Mirriam MacWilliams offers a good example.

“It all started with an interesting book by a gentleman in the States who was a taxi driver,” Mirriam recollected. “His philosophy was quite simple. Realizing most taxi drivers wanted to take their passengers to distant locations, this taxi driver decided to do the opposite: taking passengers on shorter routes and do many of those trips instead of waiting for the longer ones!”

“He began making a lot of money and decided to focus on investing his money in the stock market with the same concept. Why wait for four to five years to make money when he could actually make more money trading over just a few days?”

Mirriam continued. “I attended his training which had a fairly high price tag and learned 13 different strategies over two days, but when I left I still had no idea where to begin trading.”

Time passed and Mirriam failed to earn her first bucket of money. She was then recommended to attend his next event entitled “The Next Step” in Las Vegas, Nevada. While most of us might be skeptical about going further, Mirriam decided to take the chance. “It meant more investment of capital, however I felt I was on my way to making money.”

Unfortunately, that did not prove to be the case for the entire year, and by then Mirriam had lost quite a bit of her capital. She then decided to take a year off from actual trading and started her virtual trade. “I did virtual trading until I could see consistent results from my trading a whole year later. While this scenario might seem discouraging to some I would not have missed it, as I now realize these virtual events were vital to my overall success!”

2. Trading is not a hobby

It is often said that we can only change our surroundings by first changing our perspective. This also applies to investment. When Mirriam started investing, she viewed Wall Street as a rather unfriendly and hostile environment. She recalled: “It was as if the odds were so stacked against me that I wondered how anyone made money. However I did not want to have that ‘warfare’ or ‘revenge’ mentality. I decided to adopt an attitude of being at peace with Wall Street. I soon realized that having a more peaceful trading mindset helped me to make money on Wall Street.”

“Now, Wall Street for me is no longer an environment for losing money. It is not a hobby, pastime or something I participate in simply because I received a hot stock tip. It is a place to conduct business. It is all about how to apply a set of rules or parameters to different market environments and learn how to capitalize on those decisions. As with all businesses, we do need to have an exit strategy with either a profit target or a loss potential. Again, focusing on the protection of our capital is the key to success.”

3. It’s always the right time to start

Mirriam is often asked if it is the right time to get started. Her answer is: it is always the right time. “As investors we simply need to recognize the market environment we are in. Once we do that, we then tailor our investing strategies to meet that market demand.  It does not work the other way round. Have a plan and work the plan!”

Mirriam MacWilliams is the chief trainer of Wealth Mentors. She will share her secrets of how she generates wealth in the stock market consistently with a small capital, regardless if the market is moving up, down or sideway. If you want to know more about the curriculum and listen to her success in the stock market, the Wealth Mentors team at http://www.wealth-mentors.com will give you good clues in the coming seminars.