In this video:
00:30 Going to talk as a guest speaker – 27th of November
01:01 A more advanced trading webinar in December
01:13 Fantastic trades on the daily charts
01:17 Looking for retracements
01:40 Japanese Yen weakness continue throughout this week
01:49 Gold and Silver continue to rise
02:24 Trading is about consistency
Hi everybody Andrew Mitchem here, the Forex Trading Coach.
Today is Friday, the 23rd of November.
Another stunning day so I’m outside again!
Well, next Tuesday I’m going to talk – that’s Tuesday, the 27th of November – I’m at Auckland as a guest speaker for broker this coming to launch into New Zealand.
Forex has changed my life
I’m going to be talking about my story and how Forex has changed my life: How I started nine years ago as a dairy farmer and now developed into a full time Forex Trader. Because that seminar is being held at Auckland, obviously a lot of people won’t be able to attend so I’m going to make that same seminar into a webinar, as a presentation. That’s going to be held in a few weeks time and you will be able to attend that presentation – LIVE!
For those of you who are more advanced traders, more experienced traders I’m also going to be holding in December, a more advanced trader’s webinar. I’m going to share a lot of the tips and techniques that I employ in my trading on a daily basis.
Fantastic trades especially on the daily charts
This week, I’ve had some fantastic trades especially on the daily charts. There are a lot of trades that have retraced very nicely on the daily chart using the techniques that I suggest my clients to use.
So I’m not always looking at entering at the market. Quiet often I’m looking for retracements first. For example on a buy trade – I’m looking for a retracement further down before the trade then reverses and takes off in my desired direction.
As I mentioned last week, the Japanese Yen weakness – that did continue throughout this week! There’s been a lot of weakness on the Yen – possibly could continue into next week.
Buy trade on both Gold and Silver
Gold and Silver have also continued to rise this week.
Two weeks ago I took a buy trade on both Gold and Silver. A long trade on both – they retraced last week. They were negative last week but then this week have turned around and gone on to hit full profit as expected.
Another thing just to mention is – “Don’t Over Trade”. This week there has been a public holiday in the US and also in Japan which is meant there’s not being too many really good setups on the charts this week.
So don’t overtrade!
You know there are no prizes for trading more. Trading is all about consistency – picking good setups and taking them when you see them. But you definitely do not need to take too many trades just for the sake of trading.
All that’s going to do is feed your broker’s pocket and take it from yours which is of course – we don’t want!
So that’s all for now!
Looking forward to talking to you this time next week.