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Three lessons traders can learn from expert salespeople!

by , 25 March 2014

You may get annoyed when you're sitting down at your favourite restaurant ready to enjoy the evening with your partner until…

A salesperson calls you to try to sell you insurance.

Well don't be, rather listen up!

Because what they have to say can actually help you become a better stock market trader.

Here are the three most important trading lessons every trader should learn from salesmen


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Lesson #1: Use the scripted lines that work, then practice them on a daily basis

Every successful salesperson will tell you that the trick with closing sale is to first write down scripted lines that you know will work and you know you’ll be able to use to close your sales.

These lines should be for the introduction and for the closing of the sale.

As a salesperson, you should practice your lines every day until it becomes second nature to you.

Well, the same goes with trading.

You should always have a game-plan, before you even think of trading.

This will tell you where to get in to your trade (introduction) and where to get out of your trade (closing).

You must have a steady and consistent guideline which will help you with every trade that lines up.

Action #2: Make your calls!

You need to see sales as a game where you keep on playing.

And what happens when you play a game long enough?

You’ll gain better results.

And with trading, it’s identical.

After you have a proven trading strategy, the trick is to take every trade that lines up.

The more trades you’ll take according to your winning trade strategy, the more likely you’ll succeed.

Action #3: When you don’t get it right, take it like a man!

With sales, you’ll close the deal effortlessly sometimes and other times, you’ll get the phone closed down on you.

The same goes with trading.

Trades will sometimes go your way where you’ll bank a decent profit, but there will be times where you have a few losing trades. Don’t worry, that’s all part of the trading game.

The trick is to take your loss like a man.

Own it and move on!

Plenty of other trades will come your way and they’ll make up for your measly losing trades.

So now, you know what trading lessons to listen out for next time when you get a phone call from one of those “pesky” salesperson's.

Editors Note: If you'd like to boost your trading performance, success and learn more top insider tips and tricks Timon has learnt over the last decade then follow him on Twitter @timonr. 

Three lessons traders can learn from expert salespeople!
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