Forex Reviews: Paul Tillman from North Carolina, US
Forex Reviews Andrew Mitchem: Hi, everybody. Its Andrew Mitchem here, The Forex Trading Coach. Any today, I'm joined by Paul Tillman, who's been a client of mine at Forex Training Coach for the last two years. Welcome along, Paul. Good to see you.
Paul Tillman: Hey, thanks, Andrew, for having me.
Andrew Mitchem: Now, it's great to have you here. Paul, just wondering if you could just start by giving everybody an introduction of who you are, where you live, what you do.
Paul Tillman: Sure. My name is Paul Tillman. I've got a lovely wife and two kids, 3 and 1/2 going four and a new born, who's about two months now. And I work for a pharmaceutical company. I'm a statistician. So the numbers with trading and stats is all good, and I love doing that.
Andrew Mitchem: Excellent. Thank you. And so, Paul, just let everybody know, if you could, please, when you first looked into forex. How did you find out about forex? Did you have any prior background in anything to do with the industry? What was your beginning within the forex market?
Paul Tillman: I was introduced to it probably about 11, 12 years ago. There was a group of guys in my church who knew about it and introduced me to it. And it's kind of an unfortunate situation a little bit. There was a little bit of learning about trading and the market, but the main focus of it was a multilevel marketing network part of it, which was unfortunate. And so I didn't know too much about trading, got a little bit, tidbits here and there. But it fell apart in about a year. And I was left with spending a few thousand dollars and knowing maybe 10%, 15% of what I need to know.
Andrew Mitchem: OK, that's an unfortunate start. But did you then obviously decide to stay with forex? There must have been a reason why you thought that this was something to pursue maybe further.
Paul Tillman: Yeah. I was happy to get away from the networking, trying to convince people to join the course. It wasn't much of a focus on the trading aspect, which I really wanted to learn. And so the course that we were given, it had some good things, but there was no one really to teach it. There was no one really that followed up with you or coached you. So it was a lot of trying to figure it out on my own and throwing up strategy after strategy and thinking, oh, this can work and that can work and risk whatever part of my account I feel like during that trade. And so it was just — I kept going with it, but it kept getting frustrating year after year.
Andrew Mitchem: OK. So that went on for quite a while, then.
Paul Tillman: Yeah, it was probably off and on for probably the next seven or eight years. I would get into it and they get away from it. And I had my main job and other thing going on. But the passion remained there. And I really wanted to figure it out. And I just — I kept being a break-even trader. There were some wins, some losses, but overall not profitable on the long term.
Andrew Mitchem: So what happened, then? You got to a point where you probably got frustrated, I'm guessing. And you put so much time into it you didn't want to give up, would be another guess. So what happened then? Something triggered in your mind or you saw something to make you look elsewhere for help?
Paul Tillman: Absolutely. So it would have been around the beginning in 2015 when I was like, OK, either I need to figure out something that's going to make me profitable, or I need to lay this aside and maybe focus on something else. And I picked up a few things that I was trying to learn, strategies. And I knew price action was the way I think I wanted to go. And that was where my brain was leaning towards. [INAUDIBLE] there's some things here. And just kind of introducing how I found you, I actually just did a simple YouTube search for price action and forex. And your set of videos was one of the first ones that actually came up.
Andrew Mitchem: OK. So you found this person almost on the other side of the world to you. I'm in New Zealand. You're hours and hours away on an airplane in America. Did that put you off at all? You're thinking, I'm in America, he's in New Zealand — was that an issue?
Paul Tillman: Well, from previous experience, I was truly a little bit scarred from the first experience. And I knew the number that's thrown out, 90%, 95% of traders fail. I knew that was the going number. And there's all these signal services out there and robots and people and all of that. And so I was a little hesitant, but I liked the style you were teaching. And you just came off very, very knowledgeable and just kind of like I could already trust you. The New Zealand thing, it wasn't a huge deal. I mean, obviously I would have preferred somebody the US or Canada or somewhere in the same time frame. But I decided, wow, this guys is from another part of the world, it looks like he's got things figured out. I researched you to death — [LAUGHING]– with just reviews. And I read everything I could because I didn't want to make another bad decision where I was just throwing money away. Absolutely. [INAUDIBLE] as a forex trader.
Andrew Mitchem: OK, cool. Thank you. So you decided to give it a go. You jumped on board with me. So as we said, that was around two years ago. So you jumped on board, got into the membership site. How did it go from there? Like what was your first experience when you started?
Paul Tillman: Well, the very first thing I did was — and this was just a testament to the trustworthiness and me thinking this could actually work. And I've mentioned before, when you e-mailed me back when you were on holiday, that spoke volumes to me, just that little one thing. And so I liked the webinar that you had and the way you introduced and presented the information. I said, oh, wow, I know this, this, and this, but there are some things here that would really fill the gaps of my training. And so I e-mailed you a couple of times, I read some more reviews, and then decided to go ahead and sign up. And kind of from day one, things– of course, you're always nervous spending a little bit of money to try to better yourself financially and this new, great thing that you want to invest in. But the set-up of the software, your hand was being held to start out.bI had not been on MT4 before. I had been on different platforms and things. And the course just really laid out step by step, if you knew basically next to nothing about trading. Now, I did know a decent amount, so that put me ahead of the curve. But all of the videos in the course and the text and everything was just clearly explained, so it was easy to learn. And if I did have trouble on something, someone on your support team or yourself was there to answer an email within a half day, a day at most. And that was just great, as I was going through the course.
Andrew Mitchem: Yeah, excellent. Thank you. So you've got into the course. You went through the course. You got the strategy. How long would you say before you started to place your first trades? And was that on a demo, or did you jump straight into a live account?
Paul Tillman: So I was I was a little stubborn and went ahead with the live account. But I started with the daily trades, which is one of the first [INAUDIBLE]. You get these daily trades every single day. You get your entry, your stop-loss, and your take profit. And you can make money and learn as you're learning the bigger course, which I really liked. So almost immediately I was putting daily trades in and [INAUDIBLE] up on the reasons, hey, this is what you're looking at, this is really the strategy. And yeah, so from there, it was it was pretty quick. And I got used to the other chart times, which was great. I had never heard of, hey, you can make a 6-, 8-, or 12-hour chart. Yes, and that was amazing to me. That's so many more opportunities for trades. So I did that with the indicator and converter and was just on my way, saying, all right, let me go look for trades and get on this thing.
Andrew Mitchem: Yeah, great. So that leads on to an interesting question, then. Apart from results, which we'll talk about shortly, a lot of people jump into trading, and they believe they should be taking trades all the time or [INAUDIBLE] sets out to say, you've got to sit and watch five-minute charts or one-minute charts even. How have you found the live trading on an ongoing now with two years later with fitting it in, living in a different time zone to me, with your current work? You've got two young kids. How does all that fit in together? And is it practical?
Paul Tillman: Well, it is definitely practical. You just have it's all about just being on a schedule. And luckily the New York close that is our daily time frame is the time zone I'm in, which is great. And yeah, I don't have to get up at 2:00, 3:00 in the morning to trade. What is taught is more of the longer time frames, so some one-hour, but four-hour and above, generally. And so you only have to go check your charts once every four hours or once every eight hours or, if you want, just once a day.
Andrew Mitchem: If you've got a busy week, you can spend 15, 20 minutes a day and check multiple time times and be just about as profitable as you want to be. And you're not in front of the charts for hours on a five-minute chart or a 15-minute chart. And when you have work and, as you mentioned, kids and a family, you don't want to do that. And so that was one of the things that really attracted me. If you're on a four-hour chart, you don't have to go check every hour and a half. You just check it once every four hours or six hours. And you know what? If you're asleep, you're asleep and you missed it. There are a lot of times, a lot of opportunities, especially with the added time-frame charts that you can find trades. And you might only be on four or five hours in a week total.
Paul Tillman: Yeah, absolutely. And one thing that I've noticed when I've looked through your trading results, is because you do favor those longer time-frame charts, the 4-, 6-, 8-, 12-hours, daily charts, the reward-to-risk that you're achieving is so much greater than people who trade shorter time-frame charts, and they're almost scalping and getting less than one-to-one trades. You're getting two-, three-, four-to-one reward-to-risk trades. So getting your high returns when you hit profit, you've got the controlled risk, and you're not spending much time doing it.
Paul Tillman: Absolutely. And those are probably some of the very few things that I was never really taught or didn't really run into too much. I mean, people don't realize if you're getting two-, two-and-a-half-, three-, four-to-one trades, if you become a 50% success trader, you can make as much money as you want. Because that risk-reward is there. I mean, you don't have to have too many successful trades. You can fail more than you succeed on trades and still make a lot of money. And that blows people's minds. But that's great. And if you get more succeeding trades than failing trade, then the sky is just the limit. And it's great, and the risk management is always key, risking that same small percentage every trade. And that's probably one of the number-one fails of why people can't succeed and they quit early or whatnot.
Andrew Mitchem: Yeah, absolutely. So leading on through results, then, Paul, so what are you– like do you have a figure of what you're averaging per month or per year since you've been with me?
Paul Tillman: Well, my goal has been average around 3% to 5% a month. And I've always said that I can make 1% a week on average. And that sounds crazy, because if you don't compound that, that's 50% a year, which is a mind-boggling number. I mean, I think people would kill to get just 15% to 20%. And you can easily do that on just one time frame alone. You can spend that 15, 20 minutes we were talking about [INAUDIBLE] trades and make 20%, 25%. And you're spending an hour or two hours a week at your charts only. So that's kind of on a weekly and monthly basis what I've been going for. And I've been able to achieve that and more, and it's really exciting.
Andrew Mitchem: Yeah, excellent. Well, that's fantastic news. So thank you for sharing that. And just to let everybody else know that Paul– because of his results, we've decided to start to work together, and Paul has come on board with the Forex Trading Coach. And Paul, just share where we're up to now, if you could, please.
Paul Tillman: Oh, sure. So at the end of last year, I contacted Andrew, and I said, things are going well. I'm having some profitable weeks and months, and things are going great. But you know what? I would want to do more. And to be honest, I'm not trading a several-hundred-thousand-dollar account. And so it's not something I can totally live on yet. It can't be a full-time job replacement, although I'd like that to be one day. So we end up working together. And earlier this month, I officially joined. And it started out with me wanting to run the forums. We've had some forum site launched– it was end of last summer– where people can go and ask questions and post trades. And it helped my trading. It was already going fairly well, but it helped my trading immediately with the forums, seeing what other people were saying. When you're posting trades, you're more sharp, and you're just looking at different things. There are hundreds of people on the forum, and so I was able to help, asked Andrew, hey, I would love to help moderate these and send a lot of screenshots and answer a bunch of questions. So it started out like that. And then I was hoping to do just a little bit more, and so now, we have US webinars that– I ran my first one last week, beginning of March. And they are going to be going on every two weeks in the US sessions. And coupled with Andrew's there will be a webinar session every week for clients, that if you can't attend live, that you can view the recording of. And I just think that's great. And just being able to answer questions, be support, and working with Andrew, it's been a great thing. And there are wonderful things to come.
Andrew Mitchem: Wonderful. Well, Paul, thank you very much for sharing your story so far, your journey as a forex trader. Absolutely. I'm absolutely thrilled that after two years you've gone from at a stage where trading was just a hope and a dream, I suppose, after many years of frustration, through to making, like you said, 5% or more per month consistently with very low risk. And now it's great to have you on board. And the forum site, just wanted to let people know that a lot of forums– when you think of forums in the forex world, they all end up with people arguing and someone dominating and other people feeling like they can't contribute. Because our forum site is for clients only, everybody understands the strategy. Everybody understands the course. And so when we're posting trades there, these are trades that everybody can see, can understand, can take, and can learn from. Some of the trades are posted in advance of the trade actually being posted or being placed. And others are with the benefit of hindsight, because you can't post every single one in real time. And then with the webinars, because they are live webinars, myself and Paul, we're placing trades in real time in front of hundreds of people. And that's a great, great way for people to learn. Because you're hearing someone talk about the market right now in real time without any benefit of hindsight. You see us placing a trade with real money, live accounts. And so, Paul, by having the ability to help out people in your time zone around the world or later in the afternoon if you're in Europe, plus people who can trade the morning session and the European session with my webinars, as you said, we now have– every single week, someone can jump on to live two-hour trading room session. It just helps to speed up that learning process for everybody.
Paul Tillman: Absolutely. Yeah. It can be a daunting task getting into forex. And just having extra sessions and forums where you don't– like you said, you don't feel pressure or feel like you have to post winning trades or you should be at some certain level. It covers a wide range of somebody just coming in and somebody who is more experienced but is having trouble. And it just helps everybody all around. And I think it helps you and I as well, just as traders and communicators and teaching and helping other people.
Andrew Mitchem: Absolutely. So Paul, thank you for your time today. Great to have a chat with you. And if anybody watching this would like to get in contact, my email address is [email protected]. And you can contact Paul directly at [email protected]forextradingcoach.com. Thank you very much, Paul. Have a great evening your side. And I'll enjoy the rest of the day my side.
Paul Tillman: All right. Thanks, Andrew. Take care.
Andrew Mitchem: Good talking to you.