Money-Magnets.Net

Written by Karen Leslie

Wednesday, 28 May 2008 12:07

Let's start off by saying that we are newbies to share trading too. Well maybe I should say newbies to successful share trading.

I started share trading over ten years ago with a few friends. The idea was that we would all research different companies and learn different things about share trading and pass this knowledge on to the others. In the end there were only three of us left and the share trades we did weren't astounding. The only strategy we had was buy low and sell high.

Now I know that may sound like a good strategy but there are so many others out there. I hadn't even started my financial education where shares were concerned, so I didn't know what I didn't know. Examples of that were I didn't know that I could sell the shares automatically if they fell to a certain price (stop loss). At one stage I had one share that would cost me more to sell than it would to hold since it's value was so low. I had another share that did (eventually) go up in price and I made a profit. Knowing what I know now I could have made a much bigger profit.

Personally I like to minimise my risk and so that is why we are trading covered calls. That means we are actually buying shares and then giving someone else the option to buy them at a set price and for that they pay us a premium.We started virtual trading in the US stock market in December 2007 and started live trading in January 2008. Our return over that period equates to about 35%pa in a turbulent US market.

We are using a system called Sharelord that is sold by Financial Freedom Institute (FFI). I wish they had affiliates for it since we would have made a small recommending this product, but they don't.

The reason I went for Sharelord over other courses is that it was explained in a way that I understood and there would be support. I can't fault the support at all since I've been in touch with them by email, phone and even skype. The other thing that appealed to me was cash flow. As far as we are concerned cash flow is king especially with moving to a new country without jobs. Sharelord is written by Nik Hallik who has incredible knowledge when it comes to making money and producing system that others can follow.

Our next investment will be the Mastery of Stock Market Intelligence (MSMI) but we will wait on that for next year since we have enough to concentrate on for the moment and we set up one income stream at a time.