All the Trading Tips You Need to Be a Successful Trader
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#450: All the Trading Tips You Need to Be a Successful Trader
In this video:
00:36 – Great feedback from my weekly videos and podcasts
01:13 – What’s kept me trading?
02:40 – You make it look easy
03:49 – I love trading the Forex market
05:11 – 3 trades and all 3 hit the profit target
05:55 – Valuable content for you on my videos and podcasts
06:49 – Prop firm trading success stories
07:49 – Choose Blueberry Markets and MT5
08:36 – Contact me for future trading topics
If you’re the sort of person that wants to learn how to trade a very low risk and consistent way of trading the Forex market and other markets, I really encourage you to go and review many of my previous weekly videos and podcasts, just like this one. Let’s talk about that and more right now.
Hey traders, it’s Andrew Mitchem here at The Forex Trading Coach with video and podcast number 450.
Great feedback from my weekly videos and podcasts
We’ve reached another milestone. I really love bringing these weekly videos and podcasts to you and I love the feedback that we get because it helps so many people. Now, I first started trading back in 2003, a long time ago now. Back then there wasn’t really a great deal of information out there, especially related specifically to the Forex market. If I was learning about different indicators and chart patterns, it was mostly stock-related and I put it into the Forex market and I found that most of it didn’t really work particularly well.
What’s kept me trading?
But over the time you kind of develop your own things. I get asked all the time, “Andrew, why are you still trading right now and what’s kept you going through all that time?” Because when I look back at other people who were trading back when I started, almost none of them are still trading today. So I’m really proud of our longevity and our consistency. To me it’s the consistency that is the key; as a person, as a trader, as a company. So as a trader, I find so many people come to me and they say, look I want to become your best student. I want to become the best trader. I want to become a money manager. I want to become all these things. They give me all these emails for about a week or two and then they don’t take action or nothing happens. They go quiet. It’s like, well I suspect you’ve been on Google and you’ve learned Amazon drop shipping, or you’re going to create e-book marketing or you’re going to create something else. That becomes the biggest issue I find with so many want-to-be traders.
Without sounding rude people traditionally, most people, are quite lazy. People want things handed to them. You have to be able to do the work and you have to be prepared to do that hard work upfront.
You make it look easy
It’s all well and good to say, you make it look easy. But that’s because I’ve had years and years of going through that hard work process and that consistency to get to this stage. I bring it back to flying the helicopter that I fly again. When I was learning it was an utter nightmare. It’s so hard to learn how to fly a helicopter. But you watch someone who’s been doing it all the time and they make it look so easy. It’s so natural to them. It’s only because of their dedication and hard work and perseverance and investment in time and in themselves and their learning to get to become a good, safe operator of a helicopter. And trading the Forex market is no different.
So if you want to learn how to trade properly, invest in yourself, invest in your time, be prepared to do some hard work upfront. Be prepared for the ups and downs, the rollercoaster, that will inevitably happen. But stick with it. You’ve got to have enjoyment in it.
I love trading the Forex market
I love trading the Forex market. I love the fact we can now trade other new markets that I’ve talked about, such as the cryptos, the commodities, the indices that are now available to us. I love the ability to help people learn how to trade. I love the ability of what trading allows me to do in terms of time freedom, financial freedom, learning about the world, trading on my own terms.
When I developed my trading strategy some 15 years ago, because of course it took several years of going around in circles. I still trade that same strategy today. Why? Well, because it works. It allows me to trade two or three times a day with low risk, high reward to risk strategies. Doesn’t matter what timeframe chart I’m trading, doesn’t really now matter what market I’m trading. The pattern is what I’m trading and the pattern works. That’s the beauty of it. It becomes enjoyable, you’re learning about what’s happening in the world, why things are moving, what’s going on, and the ability to see that, take action, and see… In most cases because probability is a big part of trading of course, in most cases, not all, but most cases the pattern works and the result comes.
3 trades and all 3 hit the profit target
I took three trades yesterday: Aussie/US, Aussie/Singapore, and Euro/Aussie. They were highly Aussie-related, of course, for strength. I woke up this morning, all three trades green lights, hit the profit. That’s really rewarding to be able to see that on your charts, take action, see the returns. You can do that once you know what you’re doing. So consistency, you always have to be there. Don’t be one of those people that go, “I’m going to be really dedicated to this,” and then two or three weeks later you go, “I’m going to take a break from trading for a week or two. I’m going to go and do something else,” or, “I can’t be bothered to do this.” It’s not going to work. You have to have that right mindset.
Valuable content for you on my videos and podcasts
I’ve really enjoyed bringing you these 450 videos and podcasts. There’s a lot of very valuable content in these 450 free videos and podcasts that I’ve brought to you over the years. I encourage you to go and watch some of the previous videos or listen to some of the previous podcasts; whether you’re listening on Spotify, on iTunes, whatever it is you’re listening on, or you’re watching on my website, YouTube or any other platform, I really encourage you to go back and watch some of those previous ones. Because there’s so much great information in there that’s still very, very relevant. Just because they may have been filmed five years ago, or seven, or eight years ago, does not mean to say that they’re not relevant. You can still learn about low risk, money management, daily trading strategies, continuation patterns, ran numbers, all those things that we talk about. Go and watch some of that previous information because it will massively help you.
Prop firm trading success stories
Now, a couple of things to add here. One of the most recent updates that we are getting just incredible feedback from is prop firms and I’ve talked about that on quite a few of these recent videos and podcasts. I held a live webinar with our clients last night. I had two clients tell me about their prop firm success. One started on $6,000.00 demo, he’s now on to his first live account of $24,000.00 through a prop firm. The other person’s now on to $100,000.00 live account and he’s been through two evaluations and now every time he passes the next evaluation he’s doubling up. So I think he was on a 75% 25 profit share. So on his $100,000.00 making 10% he’s just made $7,500.00 for himself. He now moves on to a $200,000.00 account, do the same thing, there’s $15,000.00. Double up again there’s $30,000.00. So he can see the incredible gains to be made.
Choose Blueberry Markets and MT5
As always, a mention for Blueberry Markets. I’ve been using their MT5 platform as you probably know now for the last two or three weeks, really enjoying it. Really enjoying the MT5 as well, to be honest. It took a little bit of persuasion to get me there, but I’m really enjoying it. Blueberry Markets offer so many extra markets, more Forex pairs but more markets to trade. Of course, you have the ability to easily trade charts in terms of timeframes like two, three, six, eight, 12 hour charts that are not standard on MT4. So have a look at Blueberry Markets if you’re considering a new broker or changing brokers. I’ll put a link to them on this post. So that’s it. Enjoy the videos. Take advantage of them.
Contact me for future trading topics
If you want me to make videos on other topics and questions that you have about trading, just send me an email: [email protected] and I’ll help you out with future information just like this. I’ll see you this time next week. Looking forward to making the next 50 to get ourselves to 500. See you next week, bye.
Episode Title: #450: All the Trading Tips You Need to Be a Successful Trader