What Airline Pilots Can Teach You About Preparation And Successful Stock Trading

Pierre Demers

Retired Airline Pilot

Fewer and fewer people retiring today can expect to enjoy a comfortable lifestyle funded by a generous occupational pension.

That’s a stark conclusion that can be drawn from a simple glance at the U.S. Bureau of Labor Statistics, which show that a traditional defined-benefit pension plan currently covers just 10% of today's private sector staff.

These type of pension programs have undergone a staggering decline since the 1980s when they covered about half of the American workforce.

Poor investment returns and longer life expectancy across the developed world have made the cost of this kind of provision unsustainable; forcing more and more employers to opt for less-costly defined contribution and 401(k) plans.

These changes aren’t necessarily a bad thing, but it inevitably places greater responsibility on individuals to treat the management of their future retirement income as a lifetime task.

It’s a responsibility which not even highly-paid professionals can afford to ignore. One which retired airline pilot, Pierre Demers of Montreal takes very seriously.

Although Pierre thoroughly enjoyed his years as a pilot, he now finds himself in retirement with no pension to fall back on. That’s why he’s looking to stock trading as a means of replacing his regular income and building wealth.

Truth be told, Pierre would probably admit that this is not the ideal financial position from which to be trading, and it indeed requires a very different approach from the one he employed during his years as a part-time stock and options trader who was cushioned by a steady pilot’s salary.

Member Profile:

Retired airline pilot, Pierre Demers of Montreal, had been trading stocks and options for many years but had recently hit a run of disappointing results before deciding to focus more attention on his trading education. Without an adequate occupational pension, Pierre now looks to his ever-improving skills and increasing market knowledge to provide him with both a comfortable income and steady capital growth.

Location:

Montreal, Quebec, Canada

Occupation:

Retired Airline Pilot

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Finding The Right Mentor Can Lead To Predictable Profits

Recently, Pierre was forced to take a cold, hard look at his financial situation after enduring a long run of disappointing results. However, by using the analytical skills and attention to detail which his former profession had both demanded and developed, Pierre quickly identified education and training as the most effective route back to safe and profitable trading.

As he says, “Finding a mentor is absolutely critical, especially in the early stages of your trading career. The cost of education is insignificant in a successful trading career. The cost of ignorance is constant failure and disappointment. Never forget that you are competing with professionals in the markets.”

Once he had identified the areas where his knowledge and skills were lacking, Pierre joined Petra Picks Platinum with the specific intention of working closely with professional traders.

"I've been trading stocks and options for many years. But recently, I hit a wall, and my results were disappointing."

Pierre Demers

Retired Airline Pilot

Whether You’re a Pilot or Stock Trader, Having a Professional Attitude is Essential for Success

According to Pierre, “Petra and her team have a proven, successful track record. They are real traders, not newsletter writers who’ve failed at trading, and have turned to selling subscriptions instead.”

Now, there’s nothing necessarily wrong with stock market newsletters, as such, and there are some which have an excellent record of picking market winners.

But as the adage goes: “Give a man a fish, and you feed him for a day. Teach him how to fish, and you feed him for a lifetime.”

Indeed, there’s much more to successful trading than merely buying and selling on the recommendations of a third party, however good their advice may be.

Meticulous preparation, sound risk management, and self-discipline are all essential qualities for stock market professionals, just as they are for airline pilots.

“Petra and her team have a proven, successful track record. They are real traders, not newsletter writers who’ve failed at trading, and have turned to selling subscriptions instead.”

Pierre Demers

Retired Airline Pilot

Trading Without a Plan: The Hallmark of The Amateur

Not surprisingly, the need for professionalism is a favorite theme with Pierre, and he knows that if there’s a single common factor which distinguishes professional from amateur traders, it’s having a solidly thought out, well-defined trading plan from which they rarely if ever deviate.

Of course, this doesn’t mean that a plan once made can never be changed. What it does mean is; it must not be changed during a trading session. It should only be modified after a periodic review of the results the trader has been getting. This review should take into account the time frames being traded. This kind of review can be performed as a monthly, weekly or even daily exercise.

A sound trading plan will, of course, include the entry and exit strategies and chart indicators which need to be followed. It must also contain detailed and inviolable rules regarding stop-losses, along with the percentage of the trading account which may be allocated to any one trade.

“Following Petra's trading plan, I've not had a losing week since I enrolled in her service. She's an awesome stock picker, but more importantly, she shows us how to get similar results on our own, by being disciplined and sticking to a plan.”

Pierre Demers

Retired Airline Pilot

How Taking a Disciplined Approach to Trading Builds The Confidence You Need to Succeed

These risk-management rules are essential for all traders, but the overarching imperative of not losing money is if anything even more vital for traders like Pierre who are looking to the markets as their primary source of income.

The opportunity to benefit from Petra and Heather’s knowledge of the U.S. and Canadian markets is welcome but, as Pierre explains, it’s Petra’s rigorous approach that’s the real source of his new found confidence and drive to succeed.

“Following Petra's trading plan, I have not had a losing week since I enrolled in her service. She is an awesome stock picker, but more importantly, she shows us how to achieve similar results on our own, by being disciplined and sticking to a plan.”

The Feeling of Security and Independence - Priceless

As satisfying as Pierre’s recent achievements have been, they are no more than a means to a more important end. Like so many of his fellow retirees who will not benefit from a generous private pension, what really motivates Pierre is the idea of achieving genuine financial independence.

To Pierre, financial independence means being able to pay his regular bills without worry, but it also implies generating enough steady income to fund an active and fulfilling retirement, while accumulating a capital reserve to pass on to his children.

It’s a challenging goal, but with the education and mentoring he’s now receiving, Pierre believes it’s very achievable.

In his words, “I’m well on my way to becoming a professional trader. Every day, I’m gaining confidence and competence with the trading tools that Petra and her team are sharing.”

Pierre Demers

Retired Airline Pilot

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