There is no doubt that Lou Harty
is a high achiever. She speaks with Jonathan Jackson about how the
military helped launch successful trading, mentoring and e-business
careers.
Tracking through muddy fields at 5am, climbing walls with heavy
backpacks, the raised voice of a drill sergeant, I can trot out a myriad
of military movie clichés. And there’s truth to some of them. There has
to be, because what the skills and practices that these clichés
represent are life skills that once a good soldier is discharged can be
applied to anything that soldier puts his or her mind to.
Exemplifying this is Lou Harty, a 21-year veteran of the Australian
army. As a warrant officer, Lou had reached the pinnacle of her military
career. It takes at least 10 years to reach the rank of warrant officer
and they are highly specialized experts, trainers and leaders who
provide valuable guidance to commanders and organisations in their
specialty.
“For a female to reach that rank was an achievement. But I felt that there was nowhere for me to go to after that,” Lou says. With a husband in Special Forces and a growing family, Lou made the
decision to leave her military career behind and concentrate on
supporting her clan. She joined the army at age 17 – calling herself a
private school ratbag with little discipline, but a strong personality –
when there was only 7% female representation.
“It was definitely a boy’s club which forces you to be kicked around
initially, but I knew that I would survive and marry one of these
dudes.”
“He (Lou’s husband) has deployed to the Middle East and all over the
world for the last 12 years, that’s been the story of our lives. So, I
made the decision that we both couldn’t do that with three children.
We both can’t be out defending the nation.
“I wanted to make more money than I was earning, but I didn’t want to
go and get another career. The military convinced me to undertake a
degree, so I went out and did a Bachelor of Education, which although I
didn’t follow through taught me how to research.”The course was remote, so all correspondence was conducted online.
Lou found that the development of those research skills became
invaluable, particularly when she began to research the skills that made
successful people successful, such as trading, investing and financial
education. It is safe to say that Lou’s life since the military has been
about discipline and the empowerment it creates.
“I have amazing discipline. It is one of the key professional
qualities instilled in soldiers: time management, man management,
dealing with people, looking after people, camaraderie, teamwork,
professionalism and being structured in a routine. My daily routine
consisted of being at work at 7.30am and after an hour or so of physical
fitness the day was laid out: where to go, what to do, who to do it
with and an end result. Instructions were simple and concise. When you
look at it like that, there are similarities to running a business and
or trading the markets. Now, when someone says here is a training
product, follow it and implement it, I think ‘Okay, I’ll watch, learn
and implement and get the same result’.
I don’t deviate at all, I do what the product owner tells me and I
don’t question or try to reinvent it. And I think that’s the secret.”
That’s not to say Lou hasn’t donated back to the markets. Trading is
volatile, but the same disciplines required to make the trade are
necessary to back away from it as well. Many young or novice investors
don’t understand this. Lou was keen to learn; she wishes she began her
trading and investing career 20 years ago. However she may not have been
as good a trader had her life been different; had there been no
discipline.
“A lot of people who undertake trading courses come up with the idea
that they can do things differently. Like most people, I wanted to earn
more income. I had the burning desire to acquire as many assets as
possible, and I was supported by all the things the military had given
me, particularly working in a group and pulling together and the need to
achieve the end result.”
She likens trading to the battlefield.“We train soldiers as young as 17. Within three to four months
training, they are overseas fighting for their country. Their fear is
similar to that of trading. If you have a young male who knows his role
is to defend the nation, he is out of his comfort zone. It is the same
as a young mother who has never traded before. It is the fear of the
unknown. Of course, the consequences are different: worst case scenario
for a new trader is that you lose some money… in the military you lose
your life, but that’s how I relate it.”
The soldier is taught strategies and disciplines that will minimise
the impact of any dangerous situations. “It’s a sweet relationship the
way the skills are transferred. There are many people who have had far
greater success than I have, but when it comes to chaotic decisions, I
know I can rely on the disciplines.”
Traders will make mistakes and they will lose money, but if they have
their eye on the bigger picture, if they stay current and understand
what is happening within the market, they will be fine. If they lay down
an undisciplined trade then they need to be prepared for the
consequences; they must be accountable.
Accountability is another skill the military instils.
“Learn from mistakes. Reduce your risk; for one of my trading
strategies I only risk 1%. So on a $10,000k account each trade I’m only
willing to lose (or I prefer the term donate) is $100. Knowing that I’m
confident I won’t lose much money and it makes it easier to go and trade
again – even if you have two or three trades go against you. But so
many people come in with the cowboy attitude, driven by greed and say
here’s five to ten thousand dollars and they just blow it. The greatest
traders in the world will tell you that it takes two to three years to
become a disciplined trader.”
Greed is particularly dangerous when you’ve made a few successful
trades and have a false sense of security or reality. However, easy
money increases the risk (money laid out) and eventually turns into
gambling.
“If three trades go against me in a day, I will close the computer.
However, a word of caution: if you can’t afford to lose the money, don’t
trade it. Always ask yourself…how much can I afford to lose? The
profits will always take care of themselves. Trade with what you are
comfortable with.”
Lou’s common sense approach makes her an excellent mentor, though she
says she is a tough task master. She requires those she teaches to put
100% into trading; this means doing what needs to be done. Persist when
the going gets tough, stay current with the strategy, know your
risk/money management, understand your psychology and raise your
standards.
Trading is a holistic experience and should be treated as such. As
Lou says, “The strategies work; it’s the person that doesn’t make it
work. There are hundreds of trading strategies available. They all work,
however you need to find the one that suits your personality. For
example, I’m predominantly a day trader; therefore those strategies such
a Forex and Eminis excite me the most.”
Having given up the military to be able to earn more money and
provide for her family, she teaches her children the same principles.
“My youngest daughter wants to be a chef. I taught her a couple of
years ago to get online and follow her favourite chef’s techniques. Then
I taught her how to create videos of her cooking meals which we hooked
up to an affiliate program. Her pocket money is generated from people
watching her cooking videos online and linked to a cooking affiliate
program. My son is 16 and already knows what candlesticks are, trends
and markets and is at an age where he’s receptive. He knows that in
order to have what you want you need to model from those who already
have it. A kid needs to have something to aspire to; he needs to see
someone he can model from.
‘Ambition and having high personal standards is shown by his dad who
is his role model and who protects the nation. But he also needs to
understand money, how to use it and more importantly how to keep it.”
Lou is an entrepreneur; she trades, mentors and runs her own
affiliate marketing business. However she is more than that; she is a
natural leader and a motivator, teaching people to climb the proverbial
wall, think for themselves and forge their own way forward.
This is how she has lived the majority of her life; moving forward by
continuing to learn and apply disciplined actions to her tasks. She
still sees herself in a ‘protect and serve’ role, “except this time I’m
protecting and serving in a more passive way”.
Her greatest joy now is to help people achieve their goals and find
purpose, just as she has during life after military. “You need a purpose
and you need to love what you do. Robert Kyosaki doesn’t need to work,
but he is motivated by passion. I need to feel good and I do that by
living my passion which is to teach people the right way to do things.”
And let’s not forget the discipline she instils to make those things happen.
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Lou Harty - Living Life with Military Precision
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