Book review: Winning Psychology of Defensive Traders

I have just finished reading the book titled Winning psychology of defensive traders by Conrad Alvin Lim. Adam Khoo learning technologies group (AKLTG) contacted me and they were kind enough to give a complimentary copy of the book to me. I've read a few other books by Conrad and Adam Khoo seperately and its always inspirational to me.

I came to know AKLTG as an organisation 3 years back when I just started out my investing journey. I was searching on the internet to find if there were successful investors or traders in Singapore. That's where I stumbled upon the profile of Adam Khoo and Conrad. I was drawn by the wealth academy trader tutorial conducted by Conrad and so I went for a preview session. I was lost in my own financial journey and had lost some money during the European crisis a few years back. I needed some guidance and was desperately finding some help.

Defensive in trading

When I attended the preview session of Conrad, I learnt how tough being a trader was and what it takes to become successful in trading. This was the main point which the new book, "Winning psychology of defensive traders", was trying to bring across to readers too. Its about having the psychology to be defensive and not lose money in trading. Contrary to what we've heard or seen on newspaper advertisement about how a particular person has earned XX amount of $$ through trading forex or whatsoever in a short time, Conrad tells the hard truths of making money from trading. In his new book, there is also the story of his life on how he got out of bankruptcy and did whatever it takes to become a successful trader, author and educator today.


The importance of economics and financial risk management

To be a successful trader, one needs to learn macroeconomics. This is the essence of how money flows from one asset to another and how it affects the economy as a whole as well as individual companies. Some finance and economics concepts are discussed in the book as well. It was also mentioned that if successful traders at wall street attend the best universities in the world to learn about finance and economics and later on undergo years of intensive training and mentorship, what makes ordinary people like us think that we can make money easily through trading?

Thus, if we really want to succeed in trading, it takes hard work and also we need to be defensive in order to stay in the game. The book discusses on risk management, how to manage your psychology in trading and I particularly like the section on the pyramid system of financial management. This is a book not only about trading but the principles discussed can be applied into your life in general too.

Back to my story. After attending the preview session by Conrad, I signed up and attended the whole 8 lessons of tutorial taught by Conrad himself. This inspired me to go further to university to study economics which I'm graduating soon in August this year. I discovered my own passion for finance and started my own blog to help others learn more on finance and investments. Reading this new book by Conrad reminds me of the days when i just started out in my journey. It's truly an inspiration to learn from Conrad. This book will definitely inspire you too.

The book "Winning Psychology of defensive traders" is now available at all major bookstores islandwide in Singapore.

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