The Australian Banking system has had a serious shake-up and in this episode hear how it affects you and where it leaves the Australian economy. Louise Bedford shares on how to say just the right thing to offer your fellow trader’s support.Louise Bedford – MindpowerYou know that TV show 'Billions'?Louise loves it and she draws inspiration from it to demonstrate how to encourage and support a fellow trader with carefully used phrases.Hear how to say just the right thing to offer your fellow trader’s support.Jonathan BarrattThe Royal Banking Commission’s final report was made public.76 recommendations were made involving sweeping changes to banking laws in the financial industry.The report aims to make way for a more transparent industry where the transfer of wealth from banks to consumers is fairer.Some of the shake-ups include:MORTGAGE BROKINGMORTGAGE BROKING was by far the hardest hit industry.The Outcome:  Mortgage brokers now need to act in the client best interests.Biggest changes are: Borrowers not the lender should pay the broker fee for home loans. Trailing commissions on the loan are to be abolished. Mortgage Brokers to be regulated by the law that applies to financial advisors.SUPERANNUATIONThe biggest changes: One default super account per person. Workers would be ‘stapled’ to an account like a Medicare number. No deductions of advice fees from MySuper accounts. No hawking or pressure selling of superannuation products.REGULATION Establish an oversight body for APRA and ASIC to assess the effectiveness of each regulator.EFFECT ON HOUSING MARKETAll this regulation so far has caused a softening of the market.As liquidity has tightened and banks have a lot of risk at lower levels in interest rates will this continue? 

Let me give you my trading plan template…

Stuck in a cycle of losses? It’s tough, and I know how disheartening it can feel.

The key is learning from those losses and creating a plan that works for you.

I’ve created a free trading template to help you get back on track. It’s simple, practical, and designed to give you more control over your trades.

Head to www.tradinggame.com.au and download it today.

Be the spark 

If you know someone who’s struggling in the markets, don’t keep Talking Trading to yourself. Share the show with them — because sometimes all it takes is one insight, one spark, to turn their trading around.
Take them to talkingtrading.com.au and be the person who makes the difference.

Trade confidently. Louise Bedford is a best-selling author and founder of www.tradinggame.com.au and www.talkingtrading.com.au.

Facebook
YouTube
Twitter
LinkedIn