Our Daily Trades at 7.5% for the year so far
#488: What Are Your Trading Goals for 2023
In this video:
00:29 – Superb market conditions
00:48 – Our Daily chart trade suggestions
01:37 – The trades and their results from the last 2 weeks
04:00 – The performance that can be achieved
04:47 – Use this valuable knowledge
We have had an absolute flying start to the year with our daily trade suggestions up 7.5% right now in only a week and a half. Let me explain more about that and how you can achieve results like that right now.
Hey there Forex Traders. Andrew Mitchem here at the Forex Trading Coach with video and podcast number 488.
Superb market conditions
Well, the market conditions over the last couple of weeks have been absolutely superb. Lots of good trends, lots of moves in the markets and from our point of view, lots of good chart setups on the timeframe charts that we look at, which are mostly the daily charts and the 12 hour chart, 6 hour charts, 4 hour charts, etc..
Our Daily chart trade suggestions
But I want to focus for now just on our daily trade suggestions so that based off the daily charts which we post once a day on our membership site, so all that finances matter where they live in the world can follow along with those trades. Look at the trades, the reasons why we’re taking the trade, the paper, the direction, a paragraph of the reasons why, plus the exact entry and exit levels, which are all taught in the course anyway.
But they just confirm what’s happening and give reassurance to people why they can earn while they learn and I’m making this on Thursday. So we only had three days of the trading week so far this week plus all of last week when we started for the year and already we are up 7.5% gain with only half a percent risk per trade. I want to explain those trades to you.
Our Daily chart trade suggestions
We started off last week with a 1.45% gain we had and we’re training some non forex markets and also a few minor pairs as well because we trade the pattern, not so much what the actual pair is. So let me explain to you the trades that we took last week. These were all there for people to follow and to get the exact same results.
By the way, it doesn’t matter where you live in the world. The US30, the US index, we made a 1.2% gain last week that we then got stop that on the Euro/Singapore. So we lost half of 1%. We had a US/Chinese Yuan, which is quite an unusual pair. Only one position got filled. We made .75 US/Mexican, one position filled we made half of 1% gain and we got to stop that 4% loss on the Nasdaq.
So a 1.45% gain last week. So we take two positions, one at the market, one over a limit order total between the two. I suggest a path of 1%. And that’s what I’m basing these figures on this week. Superb week, only three days completed so far. We are up 6.04% Aussie/US dollar on Monday made 0.9% Aussie/Franc on Monday made 1.12.
They were only on one position as well as a massive reward to risk the Pound/Canadian made a 0.6 gain. The Franc/Singapore had one. Stopped out and the market or stopped out profit target on retracement 4.52 US/Mexican traded that again on Tuesday 0.5% one position. Tuesday Aussie/New Zealand one position 0.8%. And yesterday, Wednesday we took a trade on Lead of all things.
Both positions fill both positions hit profit for 1.6% gain a total in just three days. This week 6.04%, no overall losing trades there at all. So just shows what can be achieved. Don’t forget this is just one timeframe chart. Plus of course we post trades on other timeframe charts. Our forum sites had some fantastic trades ranging from one hour charts through to 12 hour charts, and we have our live weekly webinars as well, where we generally take between about one and five trades depending on the market conditions when we’re on there live.
The performance that can be achieved
So it just shows what can be achieved when the market conditions are good. There’s lots of trades showing and we find that results are fantastic. Reward to risk is excellent. And if you’d like to know how to trade like this and don’t forget the trades that I’ve explained to you here are just trading just once a day. And you know, it takes no time at all to place those trades.
And already you’d be up 7.5% in just a week and a half trading of this year. Now try finding me seven and a half percent in in sort of eight days of trading day somewhere else that you’d find this year. The only thing I can see is seven and a half per cent is the inflation figure that’s going up and up and up. So investment wise, very, very difficult to achieve results like that.
Use this valuable knowledge
So not only are you achieving the results like that, you can then take those same skills and trade that for yourself on other timeframe charts as well, which of course we help our clients with as well. So it’s not just the return, it’s the knowledge base that you are learning that is so vital here.
So if you’d like to find out more details, have a look on this page somewhere. I’ll put a link to our five star coaching course. If you’re watching or listening on YouTube or podcast, don’t forget to like and subscribe so you don’t miss out on videos and podcasts just like this one. So this is Andrew Mitchem here at the Forex Trading Coach.
Let’s hope these are good conditions continue. We know that the strategy works. I’ve been teaching this for coming up 14 years this year. It’s well proven across all markets, across all time frames, across all different market conditions. Come and take advantage of it. If you’d like to make yourself a successful trader, I see this time next week bye for now.
Episode Title: #488: Our Daily Trades at 7.5% for the year so far
Find out more about my Online Video Forex Course
What Are Your Trading Goals for 2023
#487: What Are Your Trading Goals for 2023
In this video:
00:25 – Happy New Year
00:50 – So few people have any form of goals or plan
01:40 – You need to be able to see things differently
02:14 – Read Rich Dad Poor Dad
03:03 – Why we trade the Forex market
03:41 – Learning from 2022
04:23 – If you need help with goals and plans, just ask me
What are your trading plans and your trading goals and just your goals in general for 2023 and going forward from here? Let’s talk about that and more. Right now.
Hey there, traders. It’s Andrew here at the Forex Trading Coach with video and podcast number 487.
Happy New Year
First video and podcast for the year. Happy New Year to you. Hope you have had a fantastic Christmas and New Year break. I just got out the poll and I thought I’d make this video all about goals because, you know, one of my goals is to try and swim every day this year.
That pool right now is at 32 degrees. So if you’re in the States and in Fahrenheit, I think that’s right. In the upper 80s early 90s, incredible temperature for the water. So really enjoying that.
So few people have any form of goals or plan
Let’s get back to the trading, though. This morning. I was at a business group that I go to here in Nelson and a lady there who’s a business advisor was talking about how she’s amazed that so few people out there have any form of financial goals, any form of plan.
Basically, so many people are just living like day to day, paycheck to paycheck. And of course, that’s pretty dangerous in a good year. What potentially we might see ahead of us this year, globally, things are not looking great. That’s going to be really, really dangerous. Now, I’m definitely an optimist. I always like to look on the glass as half full, the bright side of life.
But you’ve got to be real as well. And this year, you know, not looking great for a lot of people, a lot of businesses as well. That’s the reality of it. But like all these things, there are so many opportunities out there, so many great opportunities for people to do well,
You need to be able to see things differently
Whatever it is that you’re looking at doing. But the trouble is you’ve got to be in that position to see them and have that mindset to be able to willing to open your mind up to to look at things differently, to like the standard type of thing. And you’re going to then be in a position to take advantage of something if you see it. There’s so many people that with the benefit of hindsight do really well. But of course in reality they don’t because they’re into things too late or they just don’t see things. We’ve seen that so many times. You know, just look at what’s happened in the world over the last couple of years and the vast majority of people just have followers.
Read Rich Dad Poor Dad
I was a big fan of Robert Kiyosaki. Years and years ago when I started investing in Robert Kiyosaki, he was always saying there’s opportunities everywhere the guy from rich that poor, that if you’re not read his books, just go read them.
That is fantastic. They’re still very, very relevant today. But, you know, just about the whole mindset of thinking differently, the whole concept that he brought in to his books about his rich dad being the business owner, I don’t work for X amount of dollars per hour. Out there looking at different opportunities, learning different skills, whereas his poor dad was the highly educated go to school, get more grades, go to university, earn a wage, work up the corporate ladder, all that type of stuff, which is we know and it’s not saying that’s wrong.
And I’m not saying that’s wrong because, you know, it’s not. But the reality is, if you want to sort of think differently, you kind of or you want to get somewhere, you’ve got to probably think differently to the norm. And so that’s basically what we’re saying.
Why we trade the Forex market
So let’s bring all this back to Forex. Why do we trade forex? Well, it opens up so many opportunities. It’s not dependent on so many other market conditions. The forex market, you know, you can buy, you can sell, you can now trade other markets as well as the forex market as well. It doesn’t require you to sit in their charts all day long if you know how to trade properly. Like the way that we trade 30 minutes a day, max is all you need.
So you can go and do things like go swimming and go and do things with your family and friends and travel and all those other things, you know, so you can go and do those. But, you know, it’s still like, Hey, we think you’ve got to do the hard work and the the groundwork first and you’ve got to do the basic right first.
Learning from 2022
But it all comes back to plan. And what happened if you’re trading already, how was 2022 for you? What did you do maybe wrong? What can you learn from what were you like to do differently this year? Have you changed that already? Have you created written a plan? You know what you’re looking for purely as a strategy? Money management, risk management.
Are you going to look at prop firms this year? What is it that you’re going to do? You’re going to get yourself educated in strategy that works and is proven, whatever it is, you know, you’re going to rely on an expert advisor. What is it that you’re going to do this year differently to make this year have a really good opportunity to be your best trading year yet if you got into trading at all? Well, it’s a prime opportunity to think about doing.
If you need help with goals and plans, just ask me
Goals and plans. If you need any help whatsoever, send me an email or add something to the comments box. If you’re watching on YouTube or email me. Andrew@forextradingcoach.com, anything you need help with. If you have any questions, if you have any topics or trading questions, anything that interests you that you’d like me to cover on videos and podcasts like this, which I’ll make weekly this year.
Again, just drop me a line, put something in the comments box below. If you’re on YouTube, don’t forget to like and subscribe or if you’re listening on a podcast, do the same thing. Let’s make this a great year for all of us. You know, we’re all doing this together all in the same boat role in the same industry, doing the same thing.
So anything that I can help you with this year, just let me know. That’s it for now. This is Andrew Mitcham here at the Forex Trading Coach. I see you this time next week bye for now.
Episode Title: #487: What Are Your Trading Goals for 2023
Find out more about my Online Video Forex Course
Are You Ready to Trade in 2023?”
#486: Are You Ready to Trade in 2023?”
In this video:
00:30 – The last video and podcast for 2022
00:43 – Trading into 2023
01:33 – The bigger global picture
02:31 – Things we can control
03:18 – Christmas & New Year break from trading
03:49 – What are you going to do?
04:45 – If you need trading help & my free webinars
05:31 – Have yourself a great Christmas
Are you ready for a fantastic trading year heading into 2023?
Let me help you make 2023 the best year ever. Let’s talk about that a more right now.
Hey there, forest Trader. It’s Andrew Mitchem here at the Forex Trading Coach with video and podcast number 480.
The last video and podcast for 2022
This is the last video and podcast for 2023. I hope you like the kind of festive shirt, and it’s summertime here in New Zealand, and we’re all looking forward to a really nice Christmas and New Year break.
Trading into 2023
But this video and podcast is about 2023. And what is it that you can do right now to help yourself making 2023 the best trading year that you have had? How’s this year been? What have you learned this year? What have you done that’s like really silly? Maybe? What have you done that’s really good? You educated yourself in trading?
Do you have yourself a plan, a structure, a way of trading? Have you gained consistency this year? Have you gone on to prop firms this year? Maybe? What is it that you can take away from this year that’s been really good, or maybe something not so good that you can go, well, that was a bit silly. I shouldn’t have done that and try and avoid that same mistake going into next. So that’s what I want to help you about now.
The bigger global picture
So, heading into next year, like on a, I suppose, bigger picture, things are not looking particularly great, are they? We’ve got massive inflation all around the world. We’ve got interest rates rising. All around the world and we’ve got costs of, like housing and fuel and, delays in shipping and all these kind of just things are just not looking particularly great on a bigger global scale.
I know here in New Zealand, being an island nation, the time and the delays of getting materials here is getting worse and worse. There’s fuel shortages starting to just, disappear, the price of food has gone through the roof. There’s not the amount of tourists coming here that there once was, years ago.
And so all those things are kind of like sort of accumulating and snowballing to make 2023. Probably on a bigger scale, not look so good.
Things we can control
So let’s come back to things that we can control and that’s our trading, and that’s where you need to learn what it is you are going to do. Heading into 2023, are you going to decide to get yourself educated?
If you are who you’re going to go to, are you going to make some trading rules, some trading plans? Are you going to think about doing this properly? Are you going to think about low risk trades? Are you going to think about what is it that I can see on my charts that’s going to give me a high quality trading pattern? What time of day do I want to trade?
What pairs am I looking at trading? Am I’m going to look at non Forex pairs as well. Am I looking at trading, trading different timeframe charts next year? Am I going to look at changing brokers even next year? What is it that you can do?
Christmas & New Year break from trading
Because, here at the Forex Trading coach, we’re going to be taking a break shortly, and we are not starting our trading again until Monday the 16th of January. We’re going to have a decent break.
I think after the year that it’s been, norm trading wise, it, it’s actually really nice to have an end of year break. And again, being summertime here this time part of the world, it’s going to be a real great time of year just to catch up friends and family and just forget about the actual day-to-day trading for a while. But what is it that you can do?
What are you going to do?
Because our clients have just had incredible results. This. A lot of people are just making great consistent results. A lot of people have gone onto prop firms, so they’ve done the homework, they’ve done the prep work, the time learning the basics, and now they’re reaping the rewards.
So what is it that you can do? Because if you’ve got, say, two or three weeks off over Christmas and New Year, from whatever it is that you do use that time wise, don’t sit wasting your time watching rubbish on Netflix and stuff like that. What is it you can do? Can you do some research? Can you watch some videos, some webinars, some podcast?
Listen to some podcasts. Go back and look at previous trades and charts and your trading account and, and take away all this kind of information, and, and, and basically get yourself ready to run for 2023. So that’s, what this is about.
If you need trading help & my free webinars
If you need any help at all. Over the Christmas and New Year break. Look, we are on reduced hours, but we are around, so feel free to email me.
If you would like to get onto one of my free webinars, I hold them for new traders and experienced traders. Jump onto one of those. I can highly recommend you spend an hour and do that. But apart from that, look, we’ve had an awesome year. We’ve loved doing what we are. Results are amazing. Clients are just happy and doing really well, which is just such a thrill for us.
Our own personal trading’s been good. We’ve got an awesome team of, people helping our clients with a great community of traders, and that’s what it’s all about. And so look, we are looking forward to 2023.
Have yourself a great Christmas
We’re looking forward to a fantastic year, but on behalf of myself, my family, Paul. Mikalai, Mhel and the whole team of us here at the Forex Trading Coach, but we’re wishing you, your family, your friends, an awesome Christmas.
Have a fantastic New Year, and we’ll see you in 2023 to make that year the best yet for you. We’ll see you there.
Episode Title: #486: Are You Ready to Trade in 2023?”
Find out more about my Online Video Forex Course
My Top 5 Trading Takeaways from This Year
#485:My Top 5 Trading Takeaways from This Year
In this video:
00:32 – My top 5 trading takeaways from 2022
00:47 – #1 Trade the Market that is Active
02:33 – #2 Trade What You See and Not What You Think
04:07 – #3 Get Yourself Educated and Part of a Trading Community
05:45 – #4 Be Consistent in All You Do
06:53 – #5 Enjoy Your Trading – Here’s How
08:05 – Next Week’s Video and Podcast
I’m gonna give you my Top Five Takeaways that I’ve learned from trading this year and how you can use those top five tips to aid your trading into 2023.
Let’s get into that more right now.
Hey there traders. It’s Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 485.
My top 5 trading takeaways from 2022
I want to give you today my top five trading tips and takeaways that I’ve taken from trading the FX market and other markets this year as we draw towards the end of 2022.
Let’s start with #1.
#1 Trade the Market that is Active
So #1 is trade.
The markets that are active . And what I mean by that is different markets have different conditions throughout the year, and of course you never know what those conditions are going to be ahead of time. But what you can do is you can see which particular markets are trending well at the time, which are moving, which have volatility, and therefore, which markets are giving you the best opportunities
Now that in the Forex market can be, sometimes some pairs go quite flat. Other times you’ll find that most pairs go quite flat. Other times everything seems to be moving. So as a phrase I used going back to my farming days of 20 plus years ago of “make hay while the sun shines”. I’m sure you’ve heard that phrase.
And it’s no different in trading. If the market conditions are active, things are moving, things are volatile. Great conditions there. That’s the time to be identifying trades. Now you go and look at the crypto market. This year, for example, there have been some massive, massive moves earlier in the year in the crypto markets.
But you go and look at the last month, you look at like, let’s say November, and now into early December. Most of the crypto markets are just completely and utterly flat. I haven’t taken hardly any trades on the crypto markets in the last, say, like almost two months now, because the market conditions have not been there yet.
The forest markets have been fantastic. The metals are starting to move. Oil right now is dropping a lot, so the other markets are showing some great opportunities. So trade the markets that are giving you the best trading conditions at that time.
#2 Trade What You See and Not What You Think
Take away #2.
You should trade what you see and not what you think.
Really important that you do that as a technical trader and not a news fundamental trader. I trade what I see on the charts, so therefore I’m trading what I’m seeing is actually happening, not what Andrew or someone else or someone on a news station thinks might be going to. and you see things have changed slightly when it comes to the news.
No longer do we get those massive great big spikes and big gaps and non-farm payrolls. You know, that’s jumping up maybe three, 400 pips in 30 seconds like it used to, some 10, 15 years ago. And when you think about what’s happening globally right now, like almost everybody’s sort of heading into.
Everybody’s got inflation. Everybody’s lifting interest rates. And so that differential between different countries, like you used to have a number of years ago, for example, when the Japanese interest rate was negative and the New Zealand was huge, it was like 6%, 7% or something, you know, it was always a massive differential.
Whereas today, everybody’s sort of moving in the same direction, so therefore you can’t go, ah, look, the unemployment. Country A is really bad because lightly, it’s the same in other countries. Or you know, my country might be going to lift the you know, let’s say you lived in the us, the US is gonna lift their interest rates, therefore the US is gonna be strong.
Well, no, because Australia’s lifting New Zealand’s lifting, Canada’s lifting, euros, lifting, you know the British are lifting, so it doesn’t really have a great deal of significance any longer. So you’ve gotta trade what you see on.
#3 Get Yourself Educated and Part of a Trading Community
yourself educated and get yourself a trading system, a trading plan or mentor, and a trading community.
I cannot underestimate how important that is, and the reason I bring that into my takeaways from this year. Is that consistently throughout the year, I’ve received email, after email, after email, I see posts on our forum site, all these feedback just coming through with the same theme of, look, Andrew,
I joined you as a last resort, or, I joined your course, but didn’t really put a lot, lot of effort in up front and now I’ve gone back and revisited and now it’s going well.
You know, I didn’t know anything about trading. I’ve done exactly what you’ve said and it’s going really well. So, The community aspect, the strategy that works, the mentorship, someone to bounce ideas off, someone to follow someone, to watch a group of people all thinking the same. Right-minded people, all with the same goals and outcomes, all trading the same way.
Were none of this backstabbing and arguing and rubbish going on. That happens on almost every other forum. You’ve gotta have a community of like-minded people, sensible, smart, forward thinking, progressive people, but also people with knowledge and experience. And that’s what we bring to the table. And that’s why so many of our clients are just making incredible success from their trading.
Yes, there’s some effort required on your part, and if you’re not willing to put the effort in, then we are not the right people for you. But if you are and you want to make this work, we’re a good match. So that was point #3
#4 Be Consistent in All You Do
be consistent in what you do. Show up, turn up, put in effort.
Look at the patterns that you want to trade. Understand what it is that you’re doing, and do it consistently. If the market conditions as in point #1, the market conditions are there, you trade the pattern, you trade your strategy, your risk is known. It’s low, it’s controlled. It’s the same throughout the.
You know, if you put in that consistency, that is when you will achieve results. If you are the sort of person that just sort of rocks up and go, oh, what’s on the charts right now, I’m gonna force myself to take a trade because I’m ready, or I can’t be bothered to see what it does, or it’s only a demo account.
It doesn’t really matter. Oh, I forgot to put a stop loss in. Oh, I got, you know, I, I put in 10 times the risk that I should have. Oh, look, the trade work, how lucky was that? You know, oh, someone on YouTube told me that cryptos were gonna be, you know, Bitcoin was gonna be a hundred thousand dollars, which by the way, is what they told you are gonna happen by last Christmas, and they look what it’s doing this year.
You know, if you are that sort of person, you’ve gotta change, you’ve gotta get that consistency back into your trading. So that’s a really important point.
#5 Enjoy Your Trading – Here’s How
you’ve gotta enjoy your trading and you’ve gotta wake up each day looking forward to trading. You’ve gotta start the beginning of the week looking forward to getting back into it again.
And to do that, there’s a few things I think really helped. The first point would be only look at taking a trade on the close of a candle that allows you to know exactly when the market’s closing and when you can go and look at your charts. Number two, try to get onto the slightly higher timeframe charts.
It means that less is more approach. , your trading is more consistent. The quality of the information given on a higher timeframe chart. I mean, I go down to sometimes two hours in the odd time on live webinar, one hour charts, but the majority of my trading will be four hours, 6, 8, 12 daily, weekly, monthly.
And, and so that you know, you’ve got that nice blend of real long term, you’ve got slightly shorter. You’ve got your dailies where you can have multiple trades in a week, and then you’re going down when you can or when you want to have a look. You know, some of those sort of 12,8, 6, possibly four hour charts, but only on the close of a candle, maybe look at your charts.
Once, twice, three times max a day, you’ll do well. So I hope that helps. Next week I’m going to talk about your year in general and
what you can learn from your year of 2022 and how you can make 2023. For the best trading year yet. So looking forward to helping you with that next week.
Next Week’s Video and Podcast
But for now, have a great week ahead and I’ll see you next week.
For the last video and podcast for the year, bye for now.
Episode Title: #485: My Top 5 Trading Takeaways from This Year
Find out more about my Online Video Forex Course
Over a 50% Return in the last 8 weeks
#484:Over a 50% Return in the last 8 weeks
In this video:
00:41 – Client makes 50% return in the last 8 weeks
01:17 – What has Brandon done that most others don’t do
02:00 – Effort and commitment
02:51 – Daily trades profitable every year since 2010
03:06 – Trades posted on our Forum site for clients to follow
05:03 – Check out Blueberry Markets and contact Ben Clay email@example.com
05:55 – Make 2023 the year you make trading work for you
One of our clients has just made over a 50% return on his live account in the last eight weeks. Let me share details with you about how he’s done that and how you also can achieve similar results. Let’s get into it and more right now.
Hey there, Forex traders. Andrew Mitchem here at the Forex Trading Coach with video and podcast number 484.
Once again, back outside and getting lots of good feedback about the nice New Zealand scenery. We’ll keep the outside videos going for a bit.
Client makes 50% return in the last 8 weeks
Look, I want to cover information regarding some comments left on our forum site just this morning by one of our clients called Brandon, who lives in Alabama, in the US. Brandon’s been with us for just over six months now. He said on our forum site today that he has made a greater than 50% return on his live account in the last eight weeks, which is fantastic news because everybody wants to make money out of trading. That’s what we’re doing it for.
Of course, as you know from the stats, that 90%-95% of people do not make money. Why is that?
What has Brandon done that most others don’t do
Well, what is it that Brandon has done that’s different? Well, I suppose, first of all, he’s finally got some education in trading. I’m going to read to you the exact comments that he posted earlier today. Brandon has said, “I’m feeling really grateful. I’ve been trading Forex for 10 years and have tried hundreds of strategies. This is truly the best way to trade. Consistency with this plus patience will produce results. My account is up over 50% in eight weeks since I committed to consistently showing up here every day to take every setup we talk about, the daily trades and my own scanning. Thank you so much to Paul and Andrew.”
Effort and commitment
What does that mean? Well, he’s putting in some effort, which is great. He’s turning up to our forum site. He’s viewing our daily trades each day. He’s logging onto our forum site and seeing trades that we’re discussing throughout the day as well. That just shows that with that consistency and that bit of effort, and, first of all, taking the plunge to take an educational course, a well-rated one, it sounds like he’s done hundreds of different strategies elsewhere, but it’s finally working for him. That is awesome to see. There’s nothing more pleasing from our point of view than to see our clients succeed. When you think about it, if they do nothing else and just follow our daily trade suggestions, plus some of the trades put on our forum site, plus then learn how to do that for themselves and take a few trades for themselves, there’s really no way that you cannot do well.
Daily trades profitable every year since 2010
because every year, for the last 13 years, since I started posting my daily trading suggestions based on the daily charts, they have been profitable.
We also now post trades on weekly and monthly charts. Plus, on our forum site, we discuss other timeframe charts.
Trades posted on our Forum site for clients to follow
Now, no better example than that, than just yesterday, when I posted on our forum site, I posted five trades on the eight-hour charts and five on the six-hour charts. On my live webinar with our clients, those trades were open. They were doing really well, and we were looking at those trades. Several of them actually hit the profit target during the webinar. On the webinar, I also took two-hour chart trades. Out of those total of 12 trades, sorry, in total, 10 of them hit their profit target. Two were stopped out. So you can see how Brandon can do really well with taking the trades that we post, plus learning about those setups.
Remember last week I talked about trade the pattern. That’s all we did. That’s all I did on those trades. I traded the pattern. Is the pattern going to work every single time? No. Of course, it’s not. Is the pattern going to give you an edge? Yes, it is. Is the pattern going to give you high reward to risk per trade? Yes, it is. Do we promote low-risk trades on all your trades? Yes, we do. You put that together with the strategy, the consistency, the pattern, all the information we publish and give for our clients every single day, plus you get to learn to how to do this for yourself, and you can see how Brandon has done so well.
That’s how, here at the Forex Trading coach, we have turned people’s trading around. We do have that 5% to 10% of people out there who are doing really, really well. For us, luckily, it’s a very, very large proportion of our clients. But 5% to 10% of those people out there in the whole Forex world who make money, we have a very large percentage of our clients who are within that 5% to 10%. It’s really pleasing to see. That’s the information there regarding Brandon’s trading.
Check out Blueberry Markets and contact Ben Clay firstname.lastname@example.org
The other thing I wanted to quickly cover with you is who to choose for a broker. Look, there’s lots of options out there, of course. One of the brokers that I’ve always consistently talked about, recommended, suggested you go and check out is Blueberry Markets. They’re a fantastic broker. I’ll put a link to Blueberry Markets on this post. If you’re listening to the podcast, you’ll find somewhere on here. Blueberry Markets. Go and have a chat with them. Contact Ben Clay. I’ll put Ben’s email address on the post as well. Contact Ben directly. That bypasses any of their other team. Just go straight to Ben. Say you’ve seen my videos or heard my podcasts, and Andrew suggested that you contact him. He will look after you. Look, you cannot get better than their service. If you want a good broker, have a look at Blueberry Markets.
Make 2023 the year you make trading work for you
Look, that’s all about what we’ve been doing this week. Trades have been going extremely well. Clients are doing incredibly well. If you want to make 2023 the year that you finally get on board and make some good trades and become profitable, then you know what to do. Have a look at our website, theforextradingcoach.com. Get onto one of our free webinars if you’re not already done so, and make 2023 the year that this works for you. Become part of us, part of the community, and join that 5% of people out there in the Forex world who do make money consistently and do well. Lots of other options in terms of prop firms and things like that. We can talk about that more and help you out there as well. I’ll see you this time next week. Bye for now.
Episode Title: #484: Over a 50% Return in the last 8 weeks
Find out more about my Online Video Forex Course
My Favourite Candle Patterns to Trade
#483: My Favourite Candle Patterns to Trade
In this video:
00:37 – Trading the patterns
01:10 – Make your trading enjoyable
01:48 – The candle patterns we look for
02:18 – My favourite candle pattern
03:04 – Different time frame chart trades this week
05:05 – Trade the pattern
As a trader, it’s important that you learn to trade the pattern and do not make your trading too complicated. If you can do that, your results will be good. Let’s talk about that and more right now.
Hey, traders. Andrew Mitchem here at The Forest Trading Coach with video and podcast number 483.
Outside again today. Get some nice comments and feedback from people, just enjoying the outdoor environment here in Nelson, in New Zealand, and of course summertime here so nice to get outside.
Trading the patterns
Trading the pattern, it’s a really important part of trading and it can declutter your mind. It can make your trading far more enjoyable, far easier and definitely more profitable. Now what I mean by that is in so many things like compliance, red tape, overcomplicating things just in life in general, government policies, whatever it is that things are just in many ways just overcomplicated and trading is no different.
Make your trading enjoyable
And in order to make your trading enjoyable, I strongly believe that you’ve got to declutter your mind and make things a lot more simple.
And for me, it’s about trading the pattern. I do that regardless of the timeframe chart that I’m trading. So a lot of people come to me and go, “Hey, Andrew. What’s the best timeframe chart to trade? Should I only be trading daily charts? Should I only be trading hourly charts?” And to me, you trade the setup that’s on the chart at the time. And if it’s a good setup, you take the trade. If it’s not, you don’t take the trade.
The candle patterns we look for
So when I’m looking at a trade, I’m looking for a candle shape, candle pattern to form first to give me the confirmation that we could be seeing either a reversal pattern or a continuation pattern. So I trade those two patterns to start with. I trade reversals because if we’ve been in a big up trend, let’s say, we’re then seeing a bearish candle and we’re then turning around, looking for a down trend opposite with a buy trade then, looking for a down trend and it to turn around to go up.
My favourite candle pattern
My favourite pattern though is a continuation pattern, and that’s when we’ve had, let’s say, a big up trend. We’ve had a pullback and then we see a bullish pattern to go long again. So candle pattern is always number one to me. I like to see previous indecision or bounce at a certain level, a round number if it’s a buy trade bounce off a support level. I like to see room to move for the profit target. I love to see a round number to help protect my stop loss, things like that. If I’m taking a buy trade, I don’t really want to see my profit target above the last, say, swing high. I don’t need to have to make new ground, new high price to get to my profit target. That again just detracts from the likelihood of my profit target being hit. So all those things come into it.
Different time frame chart trades this week
But then it comes to the timeframe chart that you’re trading, and I want to give you three examples of trades this week. This is eight trades in total that I’ve taken this week. Seven have been profitable. Now, on our forum site on Tuesday at the 5 AM Eastern Standard Time changeover, on the 12-hour charts, I posted four trades; the New Zealand-US and Aussie-US, a US-yen and a franc-yen on the 12-hour chart trade. It took 10 minutes to scan through the charts at that time, and the 12-hour charts happened to be showing the right pattern. So again, I didn’t know at the time, was it going to be the four-hour charts, the six-hour charts, the 12-hour charts that were showing the pattern?
And when we went through the charts, there were those four charts on the 12 hours that were all showing high-quality setups. So guess what we did? We took them, and guess what happened? They worked and they were all profitable. And I can share those trades with you.
Also, on Tuesday actually, I was out in town, came back home and I saw someone posted a four-hour chart trade on our forum site, and it was a euro-New Zealand trade. On the four-hour charts, again, they traded the pattern. I saw the trade, took the trade, and it was a great profitable trade. And on Wednesday, we took four trades on the daily charts, and we had an aluminium trade or aluminium if you’re in the US, and that stopped that. And then we had the US-franc, US-Norwegian krone and the franc-Singapore dollar. A little bit of an unusual couple of pairs there, but they were again, showing the pattern. Guess what we did? We took the trades.
Guess what we did also? We posted those trades on our membership site with exact entry and exits for our traders to follow with the reasons why we’re taking the trade and it was to do with the pattern. And guess what happened? Those three forex pairs all hit their profit target. So again, it’s the pattern.
Trade the pattern
Trade the pattern regardless of the timeframe chart, almost regardless of the pair. If the pair that you see on your chart on the close of a candle is showing the pattern that you’re looking for, then take the trade. It will work.
So I hope that helps. Keep your life simple. Keep your trading simple. It’s far more enjoyable. You’ll do well from it. Any other trading topics that you’d like me to cover on future videos and podcasts just like this, just send me an email, email@example.com. Happy trading, everybody. See you soon.
Episode Title: #483: My Favourite Candle Patterns to Trade
Find out more about my Online Video Forex Course
Don’t Race to Get Rich through Trading
#482:Don’t Race to Get Rich through Trading
In this video:
00:28 – Take your time when learning to trade
01:33 – How I can help you
02:06 – Trading with low risk per trade
03:00 – Controlling your heart and your head
03:17 – Client makes +60% in 6 weeks
04:47 – Check out Blueberry Markets
05:16 – Today’s lessons
05:37 – Like & Subscribe
Hey traders. Don’t race to get rich through trading. It’s likely to end in tears. Let me explain exactly what I mean through my 18 years of knowledge and experience to help you right now.
Hey there, traders. Andrew Mitchem here at the Forex Trading Coach with video and podcast number 482.
Take your time when learning to trade
Came outside this afternoon, beautiful afternoon. And I wanted to talk about why you should not race to get rich through trading. You see, people get into trading and they think it’s going to be easy. They think they’re going to become super rich really, really quickly without too much thought or too much effort. And look, you can’t blame people for thinking that. I did exactly the same.
Give you a bit of a kind of funny story. 17, 18 years ago, I was pushing kids around in prams, push chairs, or walking the dog and not really being in the moment, and instead my head was in the how much money am I going to make through my trading kind of space. And I would be forever calculating while I was walking. Go, okay, so I start with 10,000 and then I double that, that’d be 20, and I’d double that. That’d be 40, and I’d double, that’d be 80. And I was trying to sort of figure out if I’m doubling my money every sort of month, how long it would take me to get to these magic high numbers.
And it’s a mistake that so many people go through. And like I said, I really don’t blame you if you are going through that or have done that because it’s exactly what I did myself.
How I can help you
But what I’m here to help you with is now after some 17, 18 years of trading full time, in fact coming up near 19 now of trading full time, I can offer you knowledge, experience, bit of wisdom to help shortcut things for you. And that’s what we do at the Forex Trading Coach. It’s not only about the course, and the strategy, which of course work, it’s about the realities of trading.
And yes, you can do really, really, really well from your trading, and I’m going to share with you a testimonial that I received just yesterday shortly, but it’s about the realities.
Trading with low risk per trade
And I quite often get asked by people saying, “Andrew, look, how can I make money when you only say trade half of 1% risk per trade?” And you got to remember, that’s not me saying you should trade half of 1%. That’s what I’m saying that suits me. And from my years of experience and knowledge, I find it a really good number. Now, if you want to go and trade 2, 3, 5, 10% per trade, go for it. It’s your money after all. I’m not here to say you have to do this. I’m here to say, if you want my help and knowledge, these are my suggestions. And I’ve always sort of used that figure because I find personally that figure is a really good low risk figure.
And when you look at prop firms around the world now, which by the way is a really good way for people to make money, once they know what they’re doing, a prop firm, all it really wants is, yes, it wants you to make some money, but it wants you to have low control drawdowns. So that’s exactly why the half percent risk per trade strategy, philosophy, call it what you want, is such a great thing because it keeps your drawdowns low.
Trading with low risk per trade
Now, I’ve always said in trading, there’s two things that you have to control. One’s your heart and one’s your head. If you can control those two in your trading, you’re on the way to doing really, really well because it’s all well and good, even with a fantastic strategy, you’ve got to be able to control your emotions to do this properly, and that’s why low risk trading helps.
Client makes +60% in 6 weeks
Now also wanted to share with you this testimonial that’s come through from a guy called Andrew who happens to live here in New Zealand also. And he said, “I’ve been with you six months, and initially, trading was quite slow. I was slow getting my head around it, and after a few months, I gave up, and it wasn’t working.” He then said, “I wanted to get back into it. So I’m glad that I have. I’ve now made a 60, that’s six zero, 60% gain on my account over the last six weeks following the process and just managing my trades a little bit more.” And he goes on to say about how he’s really enjoyed the support through us from Blueberry Markets, loves the live webinars, can’t get on them all, but they’re always great, love watching them and always learning something. We have a wonderful community here, and I’m proud to be part of it. Everybody is so supportive and knowledgeable.
So it’s really nice to receive messages like that. And I suppose the takeaway from that is a little bit like the theme with this, don’t go try getting rich straight away. Don’t rush to get rich. So like Andrew’s done there. Unfortunately, he sort of stopped and gave up initially, but he may have been in that same mindset where he’s trying to jump into it and become a multimillionaire in the first month or so, and it’s not going to work. So now he’s realised that, he’s back into his trading, he’s trading properly, he’s done the course, been through it a few more times now, been on webinars, and now it’s working. And that’s reflective in his 60% gain in the last six weeks there. And that’s on a live account as well. So that’s really good to see.
Check out Blueberry Markets
He also mentioned about the support of Blueberry Markets and our support, and Blueberry Markets, as you would know, is a broker who I strongly recommend people go and have a look at, check them out. Now, if you’re in a few countries around the world, most noticeably the US, you cannot trade through Blueberry Markets. If you are in the US, have a look at maybe the likes of OANDA. But for everybody else, I can strongly recommend Blueberry Markets will be a really good broker for you to consider trading through, great bunch of people, incredible support, great platform, lots of markets, especially on their MT5 platform as well.
Today’s lessons So I hope that helps. The takeaway from this is trading does work. Trading will work for you if you give it time, if you give yourself time, knowledge and stick at it. Of course, you need the strategy and everything else in place and you need support. And that’s where we come in here at the Forex Trading Coach. So I hope that helps. This is Andrew Mitchem here at the Forex Training Coach, and any questions, please just ask.
Like & Subscribe
If you’re watching YouTube, please like and subscribe. If you’re listen on the podcast, hope you’ve enjoyed it, and I’ll talk to you this time next week. Bye for now.
Episode Title: #482: Don’t Race to Get Rich through Trading
Find out more about my Online Video Forex Course
Profiting from the Crypto Crash
#481: Profiting from the Crypto Crash
In this video:
00:25 – Today’s video and podcast
00:53 – A massive fall in the Crypto market this week
02:30 – Crypto Cash
03:11 – Trading Battle and my 2022 predictions have been correct
04:50 – Our Black Friday sale starts on 17th/18th November
06:16 – Check out Blueberry Markets
07:13 – This week’s summary
The crypto market has been crashing and tumbling this week. So how do you profit from that rather than take massive losses? Let’s talk about that and more right now.
Hey there traders, it’s Andrew Mitchem here at The Forex Trading Coach with video and podcast number 481.
Today’s video and podcast
A big list of things to get through today, including the big crash in cryptos and how you can profit from that. I want to talk about my 2022 long-term predictions that I made last year and how those have come correct. I want to talk about our Black Friday sale on this upcoming Friday, on the 18th of November. I want to talk about Blueberry Markets as my preferred broker. So let’s get into that.
A massive fall in the Crypto market this week
So cryptos; they have been tumbling. If you’ve been following cryptos, if you’ve been trading in cryptos, or you’ve been holding cryptos, you would have seen that this week we have had a massive fall in most of the crypto markets. So for a lot of people that’s obviously really, really bad news. But for us as traders, Forex traders but we can now trade cryptos in the same way because my strategy works across all markets and all timeframes and that does crypto pairs as well. So luckily for us, we have the ability of course to trade short or to sell something. We’re selling something that we don’t own. Unlike going out there and actually buying Bitcoin or Ethereum or something, we’re not doing that. We have the advantage of riding the market down if we’re selling it and profiting exactly the same way as if we were buying it and the market was going up.
Now, that’s one of the main things that attracted me to the Forex market getting close on 20 years ago, was the ability to sell something and watch it fall and profit from that, unlike say traditional buying shares or buying property or something like that, where of course you buy, hope, hold, hope it goes up kind of strategy.I wasn’t overly interested in that and that’s why I like the ability to make money, providing I’m on the right side, whether a market is going up or down. That’s the beauty of the way that we trade.
So with cryptos, for example, we’ve seen this week the likes of Bitcoin go from $21,000 down to $15,000. A massive, massive drop. We’ve seen Bitcoin cash go from 120 down to $86. We’ve seen Ethereum go from $1,600 down to $1,080. So massive, massive drops. Sure they might come back a little bit but the beauty is, as mentioned, we can trade them if they’re going up or down. We’re price-action based and that works across all markets without fail. That’s the beauty of it. So that’s why I like to trade the Forex market and now other markets.
Trading Battle and my 2022 predictions have been correct
The Trading Battle is a group online who came to me just over a year ago and I did a trading battle challenge on their website on a live feed that goes out on YouTube and other platforms. At the end of 2021, they asked me and all the other people on there to make a video without predictions for 2022. If you go back and watch my video from November or December of 2021, I was saying that my 2022 longer term prediction was for the New Zealand/US and the Australian/US to fall. That was based on what I could see on the longer term monthly charts. If you go and have a look at your charts from the beginning of this year to right now, you can see that pretty much the Australian/US and the New Zealand/US have just fallen the whole year. So it’s a combination of those two weakening, US strengthening.
But I could see that based on the monthly charts. So I’ve made a video update for them explaining what I was looking at a year ago and how that’s come true, and also how we can teach you to do exactly the same. Again, it doesn’t matter what the timeframe is, it’s just that this particular objective was more of a longer term what’s happening this year perspective. Those are the two currencies that I picked out. Go look at your charts and start at the beginning of January of 2022. Have a look at today. You can see that’s been a pretty good, fair reflection of what’s happened. So really pleased we’ve got that all in order.
Our Black Friday sale starts on 17th/18th November
Also, our third thing, our Black Friday sale is coming up. By the time you get to watch this on your Sunday or Monday, it will be on Friday. So Friday the 18th of November. It will be Thursday the 17th start time depending on where you are in the world. So if you’re in the US or in Europe, then the start time of the sale will be Thursday the 17th for you. For me over here, this side of the world over in New Zealand, the start time will be 9:00 AM my time, Auckland New Zealand time, on Friday the 18th of November. There is a countdown timer, so you can’t get it wrong. I’ve put various countries and various cities around the world on a page so you can see the exact start time in your start time so you cannot get it wrong. It’s a 12 hour dime sale. It is going to be the lowest price I’ve ever offered the course in coming up 14 years here at The Forex Trading Coach.
If you want to change your trading around and you want to get into it or it’s just not working for you and you want to make it work and get these longer term predictions as well as shorter time frame trades that we post, this is your prime opportunity. I’ll put a link here for you to register your interest. Make sure you jump on board. It’s a 12 hour sale. The price is starting crazily low and it’s going to increase every 15 minutes. So do not miss out, if that’s the thing for you that you want to change your trading around going into 2023.
Check out Blueberry Markets
Lastly, Blueberry Markets over in Australia. Great bunch of people, awesome broker, great pricing, great platform, lots of different markets. From what I’ve heard on the grapevine, going to get even better and bigger going into next year. Sounds like there’s a few developments coming along from Blueberry that’s just going to make them even better. Again, I’ll put a link to Blueberry Markets. Without doubt, they have the best customer service. Absolutely no question there. The amount of things that we’ve had people come to us and say, “Hey, Andrew, I can’t get this,” or “I can’t apply to this,” or “There’s something wrong here.” and I’ve gone to Blueberry directly and said, “Hey guys someone’s having an issue with their broker can you do this? And they go, “Yeah, sure, no problem”. Got it fixed and got people sorted, happy, within hours sometimes. It’s amazing how they operate. So I’ll put a link to Blueberry Markets here as well.
This week’s summary
So that’s a lot we’ve covered. We’ve covered the buying and selling of any market but cryptos you would have seen has fallen massively. We’ve covered the Trading Battle and my longer term predictions from last year coming really good this year. We’ve covered Black Friday this Friday, or Thursday depending on where you live in the world, and Blueberry Markets. Any content you’d like me to cover on future videos and podcasts, just ask. Send me an email firstname.lastname@example.org. Hope you’ve enjoyed listening or watching, and I’ll see you next week. Bye for now.
Episode Title: #481: Profiting from the Crypto Crash
Find out more about my Online Video Forex Course
It’s Time to Secure Your Financial Future
#480: It’s Time to Secure Your Financial Future
In this video:
00:24 – A lot of doom and gloom in the world right now
01:10 – Mortgage rates and Interest rates rise
01:52 – Pension funds are dropping
02:28 – What can you do about it?
02:50 – Live webinar discussing a variety of time frame charts
04:14 – Black Friday 2022 Sale – register here https://theforextradingcoach.com/black-friday-2022/
It’s time to start thinking about securing your financial future, regardless of how old you are, regardless of how wealthy you might be, and regardless of where you live. Let’s talk about this really important topic right now.
Hey traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 480.
A lot of doom and gloom in the world right now
Thought I’d come outside this morning, early morning and record this video for you. There’s a lot going on obviously around the world right now with inflation going up, cost of living going up, job uncertainties, wages not keeping up with inflation, and a lot of property values starting to drop. In fact, I saw just this morning reading one of the UK online papers, they’re talking about potentially up to a 30% fall in their house prices. Property investors, maybe not such a good time now with higher interest rates and falling values if you already own property as well.
Mortgage rates and Interest rates rise
With mortgage rates going up and up, it’s making things harder and harder for people to afford property, and so therefore it’s not so attractive. Also, overnight my time, Britain has raised their cash rate from 2.25% up to 3%. That’s actually a 33% rise, huge. Just this week, the US have also gone from 3.25% to 4%, and on Tuesday, Australia went from 2.6 to 2.85. Other countries did something similar just a week or so prior, and that’s just this week, just those three countries.
Pension funds are dropping
We’re also getting news about pension drops, and I saw again on an English online paper here, this comment about my pension fund has plunged, wiping out almost all the gains over the last eight years. People are saying, well, their pension funds, if they’re coming up to retirement age, let’s say. Your value of your pension fund some eight years ago is pretty much where you are right now because of the lowering values and just the bad performance of pension funds. All this comes down to the very obvious, I suppose the obvious question, not the obvious answer, so much.
What can you do about it?
The obvious question of what are you going to do about it, and how can you change this? Because obviously this is just spiralling out of control on so many different levels.
To me, there is a relatively straightforward answer, and it’s to get trading or get educated into trading so you can try to figure out what you can do about this for yourself.
Live webinar discussing a variety of time frame charts
Now, just last night my time, I held a live webinar with our clients. We discussed a variety of timeframe charts, monthly charts of which we’ve got five trades on for the month of November. We discussed weekly charts, some daily charts, which we’ve taken about nine trades this week. 12 hour charts, eight hour and six hour.
With that in mind, that means that you can trade those timeframes in 15 to 30 minutes per day by looking at your charts two or three times easily. We’re not talking about sitting there looking at like one minute, five minute, 15 minute charts where you got to sit there all day and night just staring at charts, getting really stressed about your trading. Not that at all. We’re talking about making this practical that you can do this doesn’t matter where you live in the world, what time zone you’re on, what commitments you currently have with current employment or holidays or family, whatever it is, you can do this once you know what you’re doing.
On that webinar, I took a NZD/CAD trade and I took a EUR/USD trade. One is still in, the NZD/CAD still in profit right now. The EUR/USD actually hit profit in under one hour. We also had one of Wednesday’s daily chart trades hit profit on the GBP/CAD with the drop in the pound in the European session on Thursday, and that hit profit target as well.
Black Friday 2022 Sale – register here https://theforextradingcoach.com/black-friday-2022/
Also, just to let you know that on Friday 18th November, I’m holding our Black Friday sale. We do this each year and it just gives a lot of people opportunity to jump on board with us here at the Forex Trading Coach for a crazy low price. Now, we are holding our Black Friday sale one week earlier than the actual Black Friday, and so there’s a lot going on around the world with that whole time of year with Thanksgiving in the States and things like that. We’ve actually brought it forward. We’re bringing our Black Friday sale forward one week to Friday, 18th November.
If you are in the US or in Europe, that will be your Thursday, 17th start time. If you’d like to jump on board with us here at the Forex Trading Coach during that Black Friday sale, register your interest. Really important that you do that. I will put a link here so you can register your interest. There’s no commitment, it’s just purely register your interest so you can find out more about the sale.
It’s the full course. It’s everything that we have as the normal $2,497 US course. The Black Friday sale’s going to be nothing like that. It’s going to be a massive reduction. It’s going to be a 12 hour sale, and it’s really important that you do register to find out details about how you can take advantage of that.
It’s a crazy low price, and when you consider all the other options you have right now, plus it is massively disappearing and all your costs are going up and up and up. Do yourself a favour. Learn how to trade properly, learn how to look after your financial future and security by yourself. There’s no better time and more important time than right now.
Once again, register your interest for the Black Friday sale and I’ll see you this time next week with another video and podcast. This is Andrew Mitchem here at the Forex Trading Coach. Bye for now.
Episode Title: #480: It’s Time to Secure Your Financial Future
Find out more about my Online Video Forex Course
Your Questions Asked to Blueberry Markets
#479: Your Questions Asked to Blueberry Markets
In this video:
00:32 – I’m joined by Ben Clay at Blueberry Markets
01:16 – Q #1 – Opening an account
02:09 – Q #2 – Methods to fund an account
03:45 – Q #3 – Banks having issues with opening a trading account
04:58 – Q #4 – What’s the smallest account size?
07:07 – Q #5 – Making a request for something different from Blueberry Markets
07:46 – Q #6 – New markets available to trade
08:55 – Q #7 – How secure are my funds if I don’t live in Australia?
10:02 – Contacting Ben Clay directly at email@example.com
Last week, I put some questions to our database and we’ve had some fantastic replies. We’re going to interview Ben Clay at Blueberry Markets and find out how Blueberry can help you as a forex trader. Let’s get into that and more right now.
Hi everybody. Andrew Mitchem here at the Forex Trading Coach with video and podcast number 479.
I’m joined by Ben Clay at Blueberry Markets
We are very lucky today to be joined by Ben Clay, who’s the partners manager over at Blueberry Markets. Welcome along Ben. Ben, how are you?
Thank you. Very well, Andrew. Always a pleasure to be here. Thanks for having me again.
Awesome. Well, just to recap, last week I sent an email out to our database asking for people to come through with a group of questions, knowing that I was going to interview you this week and to be able to put those questions to you. So, thank you very much for helping out with these questions that we have to ask you.
So first one is from Steve, and Steve says he’s never opened an account before. What is the process, and how complicated is it to set one up?
Q #1 – Opening an account
Yep, pretty straightforward. The application itself takes three to four minutes to complete on our website, and then you just need to upload the ID documents that it will request. Typically one government issued photo ID and then a proof of address that was issued in the last 90 days. And you can upload all that in the portal. The account’s typically open within a few hours, or 24 hours or so.
Cool. So pretty straightforward, really. In terms of opening a demo, how’s that been?
That’s basically the same. You would do that straight on our website. There’s a section there that just says “Open a demo account.” That’s a lot faster. Obviously, you don’t need to upload any ID documents. But there’ll be two buttons on our website. “Open a demo account,” “open a live account,” and you can follow the steps there. And you can get demo accounts up and running within the client portal as well.
Okay, awesome. No, I hope that answers that one for you, Steve.
Q #2 – Methods to fund an account
We have a question here from Gidivo, and it’s regarding funding the accounts. And this specific question was about can I fund on a MasterCard credit card and fund and withdraw that way? Because in some countries that’s possibly a little bit easier than going through online banking system. Can you let us know what sort of different ways someone can fund and also withdraw?
Absolutely. So MasterCard and Visa is completely fine. That’s probably the most common deposit method and withdrawal method we see. Typically, when you’re using a MasterCard or Visa to deposit, you would fund the initial amounts with Visa or MasterCard, and then withdraw that same amount back to the Visa or MasterCard. And then any profits can typically be sent via bank wire. We also accept crypto deposits if you have a US dollar denominated account, as well as bank wire, Scrille, Nettella. We had PayPal for some countries. Here in Australia, we have BPay and Poly Pay, as well as a few other additional methods as well.
Wow. So quite a few. Now, just to help out with that, if you put funds across on let’s say MasterCard, do they have to come back via MasterCard? You can’t put funds across and start an account with MasterCard, and then withdraw it to a PayPal account? Or can you?
That’s correct, yeah. The funds typically have to be sent back to the same method of deposit, just for global anti-money laundering laws. And this is usually pretty uniform across most brokers.
Yeah, yeah. No, I understand. Fair enough.
Q #3 – Banks having issues with opening a trading account
And a similar kind of question, we’ve had a question here from Salman, who says he’s in the past had issues with his bank. I’m not sure where Salman lives, but in terms of being able to put deposits through to a broker and the bank having potential issues with that, can you elaborate on that?
That’s an interesting one. Typically, the bank might reach out to the clients if they have made a deposit to check if they do want to make the transfer. It’s good and bad, I guess you could say. Good in the sense that they are usually just looking out to protect you to make sure that you are sending funds to a reputable company. So obviously, always make sure that you are sending funds to a broker that’s regulated and has a decent reputation and has been around for a little while, and funds are going to be held in a segregated accounts. But at the end of the day, they are your funds. So it’s not necessarily the bank’s business what you’re doing with those funds and you should be able to send them wherever you like. But it is a protection thing at the end of the day that banks will do. So sending to Blueberry Markets shouldn’t be an issue whatsoever, as we are regulated in multiple regions.
Yeah, no, cool. Perfect. Thank you for that. I hope that helps for you Salman.
Q #4 – What’s the smallest account size?
Next question from Felix. Felix says, I’d like to know how much I can deposit to start with. So I suppose this is more a general newbies question. Once they go from demo, they get into live, maybe you could elaborate on account sizes, different account types, possibly, as well.
Yeah, sure. So as a beginner, I mean start with $100. That’s the minimum. Start with the minimum amount, especially if it is your very first live trade. If you’re going from demo to live, there is a very big difference in psychology. On the demo account, obviously there’s zero risk. You’re not concerned about the losses of trades. Whereas when you start with $100, you don’t even want to lose 10 cents on that account.
So start small. Start with the smallest lot sizes, even with $100 you can do micro lots and still give yourself a bit of free margins to play with. So definitely start small while you’re dipping your toes in. And then as you build your confidence up, you can start adding funds to the accounts.
And we have two different account types here at Blueberry. We have our standard and our direct account. The standard account is just going to have our regular spreads with no commission when it comes to currencies.
It’s probably a good way to start, because you don’t have to worry about the commission charge, you’re just looking at the spread. And as soon as you paid off that spread, you’re in profit. Then the direct account goes from $1000 or more is what you can start with. That carries a $7 per lot commission when you’re talking about currencies. And we’ll have a reduced spread. So basically our raw spread direct what we get from our pricing providers.
I mean, from my personal point of view, I think that once you’ve been trading for a while, you should get onto the… I personally prefer the commission account once you know what you’re doing, just because that nice tight spreads all the time. But yeah.
So beginning go the other way. Just pay the spread, and possibly a little bit more experience. Then go the commission route.
Exactly right. And it all comes down to preference, as well, at the end of the day. Whatever you’re comfortable with, whatever you’re comfortable with trading on. And unlike you, I prefer the other direct account at the end of the day.
Yeah, no, fair enough. The nice thing is you have both.
Got both options, yeah.
Q #5 – Making a request for something different from Blueberry Markets
Question here from Scott. And Scott says that he would like to have a demo account based in New Zealand dollars. I’m guessing he lives here in New Zealand, but he didn’t find that available. Is that something that you could set up if people have a request for different types of demo or even possibly live account denominations?
Absolutely. We do have Kiwi dollar based live accounts, but Scott, I’ll get that set up today for you. So you can have Kiwi dollar accounts on MT4 or MT5. I’ll make sure that’s done today.
Awesome. And that’s why I love working with you guys, because you make things happen. It’s fantastic. It’s really good. You wouldn’t find many brokers do that.
Q #6 – New markets available to trade
Tim asks, are you looking at adding more markets to your MT4 or MT5 platforms? Either, I’m guessing more potentially forex pairs or others, cryptos, commodities, indices?
Yeah, absolutely. We’re always looking to build out our product range. We’re going to have some relatively large changes coming in the next couple of months, which we’ll keep all our clients posted about. But as a sneak peek, there’s going to be a lot more individual shares available, hundreds more.
So we’ll be letting everyone know about that. We’re very, very excited about that. But as I said, we’re always looking to do what our clients are looking for. So if there’s any particular product that you’re looking for, reach out to us and we’ll look to see what we can do to have it added.
See if you can get them added. Is there any difference between the MT4 and MT5 platform in terms of, is it now easier to add more markets to MT5?
Yeah, so MT5 typically has the ability to have a lot larger range of products, where MT4 is still relatively limited. It’s gotten a bit better, but MT5 is always going to be the platform that’s going to have a much broader range of products.
Q #7 – How secure are my funds if I don’t live in Australia?
Yeah, no, cool. And last question here, this comes from Meg. Meg says, how secure are my funds with Blueberry Markets if I don’t live in Australia?
Great question. That’s one that she’d ask any broker you’re trading with. Absolutely. All our funds are held here in Australia in segregated accounts, in either Commonwealth Bank accounts or National Australia Bank accounts. So they’re two of the big four banks here in Australia. So no matter where you’re based in the world, that’s where your funds are held at the moment. And always segregated away from company operating funds. So in other words, Blueberry can’t touch those funds. If anything were to happen to us, the client funds stays segregated away from company operating day to day.
Yeah, that’s massively important. Because on a personal level, I’m still waiting on funds from another broker that happened about probably three years ago, and we’re still only 50% back. So having that segregation’s massive.
It also goes back to always my point about trading with regulator brokers as well. The fact that we have regulation here in Australia means that there’s very strict guidelines that we have to abide by.
Yeah, awesome. That’s fantastic. Ben, that’s covered the questions that have come through.
Contacting Ben Clay directly at firstname.lastname@example.org
How would someone find you, contact you? What’s the next step if someone’s either thinking of starting forex for the first time or switching from an existing broker?
Yeah, awesome question. So blueberrymarkets.com is the easiest place to come find us. Andrew, you can post my email in the description.
Of the podcast. Anyone, feel free to reach out directly to me. I’m always available. I work very, very hard to make sure that my clients are satisfied, as does everyone here in our team. We have 24/7 live chat. And that’s on weekends, with targets for every single chat to be answered within 30 seconds.
So reach out to us, ask us questions. We’re always here.
Awesome. Ben, I can vouge for that, because I know every time I email you I always get an answer really, really quick and it’s fantastic to see that hugely dedicated service. So it definitely helps with everybody’s trust and credibility. And I’ve been with you guys, pretty sure since the beginning, or very close to it, and always recommend you guys, because I know that the feedback that I get from my clients who go with you is always exceptional.
So thanks for your time today on this video and podcast. As mentioned, I will put a link through to Blueberry Markets and I’ll put Ben’s personal Blueberry email address on the linked description as well. So thank you, Ben, and look forward to catching up with you another time.
Thanks very much, Andrew. Always an absolute pleasure.