Achieving a consistent 2% account gain per week
In this video:
00:33 Great Effort to be Trading 2% Per Week
01:21 Trading Software for Any Time Frame Charts
02:10 The Beauty of Trading
Hi traders it’s Andrew Mitchem here the owner of The Forex Trading Coach, coming from Union Square in beautiful San Francisco. I’m actually been on a helicopter flight this morning over and under the Golden Gate Bridge and if you ever get a chance to come to this beautiful city, it’s a must. An absolutely amazing trip.
So trading wise well, it’s Easter this week, it’s actually Easter Friday today and so expect the market to be flat for few days and that’s fine. That’s what happens during the public holidays and there’s plenty more days of the year to be trading.
Great Effort to be Trading 2% Per Week
Just before I left on Wednesday I held a webinar for my clients and had some fantastic news for my clients who’s been with me for only a few months and his objective and goal is to make 2% per week and it doesn’t matter if he makes it on a Monday or a Friday. Once he makes 2% he closes and he says, “I’ve been live for four weeks and I’ve made about 2% every week and made the 8% for the month of March.”
So just a fantastic effort and it’s great when people pass that information through and show you how they have done that. This particularly trader was mostly focusing on weekly charts, daily charts, 12-hour and 6-hour charts and not spending too long at computer just taking the trades, high return trades and that was it and making 2% a week and he was very, very happy with that.
Trading Software for Any Time Frame Charts
Now, I just want to let you know, I’ve got a great piece of software that I actually passed on to my clients that allows you to take trades on any time frame charts so for instance like the 6-hours and the 12-hours aren’t chart time frames that are readily available on MT4 but with this piece of software, it allows you to multiply time frames and to have those additional time frames and you can take like six and twelve minute charts if you really wanted to. But most of us prefer the longer time frame charts as it means less charts watching high return trades and more probability and likelihood of being profitable trades because generally the longer time frame the chart that you’re trading in general, the more reliable the data and the information within that time frame.
The Beauty of Trading
So that’s what I’ll be doing for the next couple of weeks while away and travelling between here and then Paris and Eastern Tokyo is looking at probably weekly charts, daily charts, 12-hour charts, maybe 6-hour charts if I get chance but still looking at making that 2, 3, or 4 percent per week while away and trading just for a total of maybe sort of 15-minutes per day.
Again it’s the beauty of trading unlike most of the jobs, you’re not giving up your time for so much per hour, and it’s the quality of your trading that’s the important thing.
So I hope that helps and look forward to talking to you this time next week where I’ll be over in France and hopefully another beautiful day luckily here in San Francisco. So once again this is Andrew Mitchem from The Forex Trading Coach trading not very much time but for some very good trades and if you’d like to join, let me know.