Andrew met Alex in the iFX Expo in Hong Kong
Andrew: Hi, it's Andrew Mitchem here, the Forex Trading Coach, and I'm at the iFX Expo in Hong Kong, and I've bumped into Alex who's a client of mine. Alex was telling me all about his trading and how well it's going. Alex, welcome, great to see you here.
Alex: Thank you.
Andrew: Nice to see you.
Alex: Thank you.
Andrew: If you could just explain about how you found me. How your Forex has developed and what you're doing now, that would be fantastic.
Alex: I was a new trader in Forex. Since 2010 to 12. Somehow I found Mr. Andrew in 2012. I saw his videos and instruction and I really appreciate that videos. I bought his courses, and I starting to know Forex market. He is my mentor. I starting knowing Forex from Andrew only.
Andrew: Fantastic. As you mention that was back in 2012, so three about years ago now. So you knew nothing about Forex when you started. And then Alex was telling me that his trading has developed so well you're now managing funds for around 400 people. Alex you can expand on that if you could please, and also some of the performance results that you're now achieving.
Alex: From last two years I achieving 24% annually. I work with three brokers. I found many things new from Andrew's videos in Forex Peace Army on his course. I found very much happy that he give kind advice for new trading, weekly trading, and daily analysis. That's why I am here to achieve 24% yearly. It's consistent from last two years.
Andrew: That's fantastic achievement. As we mentioned before we started this video, if you think of 24%, that's what, at least six times what any bank is going to pay you. You said that you're achieving that through mostly one hour chart trading. Now three plus years on you're still using the same strategy and the same theory that I taught you when you took my video course back in 2012.
Alex: I very comfortable with one hour charts, and half an hour charts. Sometime I am doing scalping and many things. Main thing is candlestick pattern. I like candlestick pattern. Andrew guide me to how to trade in Asian market and European market, and I'm mostly trading in Asian market and European market. I, from last six month, I think I will be this year be more from 24% from I think 36%.
Andrew: You're aiming for 36% return this year, fantastic. Have you kept with the low risk approach that I taught? I generally advise people to look at no more than half of 1% risk per trade. You're still sticking with that kind of low risk but higher return approach?
Alex: Yeah. I am sticking low risk. Always I am very thankful that Andrew always tell that low risk pattern is more useful. Because if you don't have any margin, you don't have any
Hong Kong Interview with Alex_audio Page 3 of 4 capital, you are nothing. That's why- My take profit is $10, but my risk ratio is approximately $3. That's why I'm always considering take profit, and loss is very low.
Andrew: Fantastic. Really what you're saying is you're achieving a three to one reward to risk ratio on your trades. That's just fantastic. When you consider half of 1% is your risk, and you end up with three to one return trade, that's making you a 1.5% gain for a trade that hits full profit, which is fantastic. Again it comes back to those basics of having very low control risk, but when you have a profitable trade and you pick that trade in the right direction, that you actually do make some very good returns from it.
The other thing of course, now that you're managing funds, the important thing from the investors point of view, is that they need to insure that risk is kept controlled and it's kept low. It sounds fantastic to have a 24% return, but nobody wants a 24% return if at one stage there were 50% draw down. Of course by keeping your risk controlled that's what you're able to achieve.
Thank you very much. It's great to come here to Hong Kong and to bump into Alex. He's come here all the way from India. As I mentioned, three plus years ago you took my course and you've proven from an absolute beginner what can be achieved with some hard work and dedication. Just quickly, how long did it take you from taking my course before you felt comfortable that you were making good enough profits to want to go to become a fund manager.
Alex: Approximately I bought your course in 2012, and after that one and a half year I studying your course, and I tried to achieve at least $1 daily. If I have in afternoon, I get $1 profit then I stop my trading. Next day, once again, $1. From starting from that point I am collecting many more dollars, means approximately one and a half year after that I am starting profitable.
Andrew: That's wonderful and it just shows that the key to good trading is not only the money management that we're taught, but also the dedication, and having a plan and sticking to the plan. Alex, great to meet you. I'm thrilled that I've met you.
Alex: Thank you very much.
Andrew: I'm thrilled that your results are just outstanding. 24% aiming for 36 this year. That's fantastic news. Good luck with that. Thanks very much.
Alex: Thank you very much.