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Steve Burns has a mission – it is to help beginning and intermediate investors move their way up the learning curve as quickly as possible. He is a successful investor himself, and the author of New Trader, Rich Trader. Steve has had an interest in the stock market for 20+ years and is a student of the game… and it shows. He shares some outstanding advice on how you can avoid those ‘rookie’ mistakes and begin to invest like a pro.
In this episode, we talk about:
- What the 3 elements of successful trading are.
- What one thing traders need to recognize for long term success.
- Why traders are a lot like entrepreneurs.
- The biggest mistakes that investors make.
- And much more!
Definition of Wealth:
- True wealth is freedom; freedom to spend your time the way you choose. It is the freedom to choose, period.
- Rich Dad, Poor Dad – It’ll change your mindset and your life, as it did for Steve. (Can you tell that it inspired the title of his book?)
Best Piece of Financial Advice:
- “If you diversify, go with the trend, and manage your risk, then it just has to work.” – Larry Hite
One Action to Do Now:
- Get your full 401k match from your company, if it is an option. This is a 100% return that cannot be disregarded.
Connect with Steve:
Steve’s advice is spot on. I’ve learned a lot from him over the years, and he shares a ton of nuggets of investing wisdom in this short interview.
If you’re interested in trading, be sure to check out his book New Trader, Rich Trader. It is an easy read that packs the fundamentals of successful investing.
As Steve said in the interview, you must have faith in yourself and in your system. Once you do this, investing success is yours. And from there, you can capture the unlimited earnings potential of investing.
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