Can I Borrow $800k from You for 3 Months?
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#410: Can I Borrow $800k from You for 3 Months?
In this video:
00:37 – A conversation with my bank manager yesterday
01:00 – An investor with $800k and didn’t know what to do with it
01:48 – Do traditional investments still work today?
02:09 – How is our trading going?
02:55 – Don’t forget our manual trading and webinars
03:37 – What to do with your investments?
If you’ve got a spare $800,000 lying around, not sure what to do with it, can I borrow it for the next three months and give you $180 at the end of that, plus your money back? Does that sound a good deal or not? Let’s talk about that and more right now.
Hey, traders, Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 411.
Now, if you’re watching the video, apologies for the red eye, got an infection. If you’re listening on the podcast, lucky you.
A conversation with my bank manager yesterday
I want to talk about a phone call that I had with my bank manager yesterday. True story. He phoned me yesterday, we were talking about our own mortgage rates, and while in two years are coming down slightly, a little bit lower, three to five year mortgage rates in New Zealand are going up slightly. But of course he knows what I do and we were talking about trading, et cetera. And he said, “Andrew, I need to tell you this.
An investor with $800k and didn’t know what to do with it
I had a guy come to me a few weeks ago with $800,000, just spare change, not sure what to do with it, doesn’t know what he’s going to do to invest it in.” And he took the decision, this guy to invest it in a term deposit for the next three months, because the term deposits in New Zealand have actually gone up slightly. They’ve gone from basically nothing to not much better. So, they’ve gone up a tiny, tiny amount.
The interesting thing was the bank manager said to me, he said, “In three months’ time, time this guy pays a bit of tax on his gains, his term deposit in three months on $800,000 will have made him $180.
Do traditional investments still work today?
That is all.” It just goes to show that traditional ways of thinking and investing are not really in today’s environment doing anybody any favours because let’s face it. If you had 800 grand to go and invest somewhere, and you’re going to get $180 back in three months, that’s going backwards in time the time you add inflation and everything else into it.
How is our trading going?
He asked me how my trading was going and I said to him that with our pattern trader software, we’ve got clients right now, we’ve got two on the top leaderboard that are over 75% this year on live accounts. 75% with small draw downs as well. I also told them about our echo trade copier, which I run on my own pattern trader bots and echo trade copier means that you can copy my live account completely automatically. Right now it’s up 24.5% and it started at the end of February, which is what? 10 weeks ago. So, 24.5%, draw down of 5%. So that’s what we’re doing.
Don’t forget our manual trading and webinars
Of course, then we’ve got our manual trading going on as well. Just last night, Paul, over in the US held a live webinar and there was a lady on there, Rose, who took three trades on the two hour charts. One got stopped out, the other two made profit. Just people are making profit all the time. We’ve got some great monthly chart trades going on, gold heading up, and we’ve got a couple on oil, WTI and Brend oil on the weekly charts that are moving up almost at the profit target. We’ve had 12 hour chart trace it profit, we’ve just got trades going all over the place on our manual trading that are going extremely well. People are making some great returns. Then we’ve got the automated trading as well.
What to do with your investments?
So, when you think about the traditional ways of investing and let’s face it, who has $800,000 set there, they’re just not sure what to do with, and it’s going to accept in three months time you’re going to get $180 back from the bank? Wow, that’s so exciting, is it not? The way that people now have to start thinking about their investments is just changing. That’s why the Forex market just offers so many tremendous opportunities to just have low risk, low draw down, but much, much higher gains.
Of course, you’ve got to know what you’re doing, or you’ve got to find someone that knows what you’re doing and we can help you on both of those, of course. We’ve just celebrated our 12th birthday last year, sorry, our 12th birthday last week, 12 years of helping clients all around the world. We love doing what we’re doing, we love helping people, we love seeing the success of people. If you’d like to know more, just send me an email, andrew@theforextradingcoach. Have a look around my website, do some research on us, do some reviews on us, have a look at the likes of Forex Peace Army, where we’ve got 151 reviews over the last 12 years. This works and if you want to join us, you know where to find us. I’ll see you this time next week. Bye for now.
Episode Title: #411: Can I Borrow $800k from You for 3 Months?
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