Weekly Video News & Podcast

#507: What’s Size Should Your Stop Loss Be?

Jun 26, 2023

What’s Size Should Your Stop Loss Be?

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#507: What’s Size Should Your Stop Loss Be?

In this video:
00:23 – How many pips should you risk per trade?
01:03 – Why pips are irrelavent
01:47 – What does a 20 pip stop loss mean?
02:14 – Where you should place your stop loss
03:34 – Win a place on our coaching course
04:17 – Where to find a good broker

What size stop loss should you set and how many pips should you risk on every trade? Let’s talk about that and more right now.

Hey there traders Andrew Mitchem here The Forex Trading Coach with video and podcast number 507.

How many pips should you risk per trade?

I want to talk about how big your stop loss should be. How many pips should you be risking on every trade you see? It’s something that I get asked by non clients all of the time. And it’s really interesting because unfortunately most people out there set a certain amount of pips for their stop loss on all of their traits.

And to me it’s the completely wrong way of trading and you know, it’s the wrong way of trading because if most people are doing that and you also know that most people losing money, there’s kind of a correlation there isn’t there. You see it makes no sense at all. I’ll let you know why.

Why pips are irrelavent

Well, how can you have a set amount of pips as a stop loss on a trade? It has no relevance to that trade whatsoever and it has no relevance to the currency pair your trading. It has no relevance to the timeframe chart. It has no relevance to the movement in the market at the time, and none of it makes sense. But most people do it, and most people will say, as an example, I have a 20 pip stop loss and a 40 pip profit target.

Therefore I have a 2 to 1 reward risk, which is exactly what you say you should be doing Andrew, have two, three, four to one. The problem is, is what is 20 pips really mean? Well, it means nothing.

What does a 20 pip stop loss mean?

You see 20 pips on a Euro/Swiss Franc is something that’s, you know, takes quite a while to move 20 pips, 20 pips on the Euro/New Zealand dollar and it can do that within seconds.

And so people who use a set amount of pips as a stop loss are making a massive, massive mistake. So the way around it, it’s quite simple.

Where you should place your stop loss

We never look at how many pips our stop loss is. Our stop loss is placed at a level that’s really easy to know where to place stop loss, but it’s relevant for that particular trade, It’s relevant for the current market conditions, it’s relevant for the pair you’re trading, it’s relevant for the timeframe chart you are trading and the movement in the market at that time.

And so it’s all relative to what’s really happening. And all we do is we adjust our lot size to allow for size of that stop loss. So you put your stop loss at a level that safe for the trade and you then make an adjustment in your lot size. You see every pair or most pairs have different payouts per pip depending on what the currency pair is and also what your own trading account is denominated in.

So you’ve really got to understand your lot size and get your lot size according to your risk and the stop loss size of that particular trade. So we can massively help you with that and that will help completely change your trading around and probably mean you’re going to get stopped out of trades far less often because you’re putting the stop loss where it needs to be on that trade for a reason. A couple more things I want to cover with you.

Win a place on our coaching course

You have two chances This week is the end of this offer with the prop firm that we have joined with. Called FX2Funding. We’re giving away two places on our full coaching course free of charge as part of their offer that they are running right now. To find out more, I’ll put a link on this video podcast for you to go to the FX2Funding site, register there and you can win lots of other goodies that they’re giving away.

And included in that giveaway are two full course to full course memberships to the Forex Trading Coach membership. So that’s a really valuable giveaway there that they’re doing.

Where to find a good broker

And lastly, brokers, if you’re out there looking for a good broker, I can highly recommend blueberry markets, their based over in Australia and the great bunch of people, great platform, incredible customer service.

Absolutely credible, top notch. You will not find better customer service out there. They have the MT4/MT5 platform. Lots of markets, instruments, forex and non-forex markets available to trade. So I’ll put a link to blueberry markets here. I’ll put a link to the FX2Funding website as well and make sure that you don’t risk X number of pips on your trade.

Learn to use your stop loss the right way. It will massively help you trading. This is Andrew Mitchem here at The Forex Trading Coach. I’ll see you this time next week bye for now.

Episode Title: #507: What’s Size Should Your Stop Loss Be?

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#506: What’s the Best Trading Session?

Jun 19, 2023

What’s the Best Trading Session?

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#506: What’s the Best Trading Session?

In this video:
00:38 – Which is the best trading session?
01:37 – We look at the close of a candle
02:18 – We use Limit Orders
03:30 – Trading is about picking quality setups
04:20 – Trade through Blueberry

What’s the best trading session that you should be at your computer? It’s a question that a lot of people ask, and I’ve got a real simple answer for you. So let’s get into that and more. Right now.

Hey, there trader! Andrew Mitchem here at the Forex Trading Coach with video on podcast number 506. Wanted to come outside a glorious afternoon. We are just a handful of days away from the shortest day of the year and we’re getting weather like this.

So you’ve got to take advantage of being outside and enjoying some good vitamin D from the sun.

Which is the best trading session?

So trading sessions, actually the Sun relates to this quite a lot because I’ve just been on a Zoom call with a guy over in Oregon, over in the US, on the West coast of Oregon, West Coast to the US.

And he said to me, Hey Andrew, I’m always concerned about when to trade the sessions because for him the US session, because he’s on the West Coast and like, you know, the morning session opens in New York time on the East Coast.

You know, it’s quite a considerable timezone difference there. And he said to me I can’t trade the US morning session even though he’s in the same country, because, you know, it means getting up at like 3:00-4:00 in the morning and it’s just not practical. Likewise, he cannot trade the European session because that’s like 11, 12, you know, midnight, 1:00 in the morning, depending on time of year for him.

So he said, well, what do I do? Because it’s always something that’s concerned him. And I said, Look, fantastic question, really good answer for you and you got to love it. The fact is, I won’t tell you his name, but I said,

We look at the close of a candle

Look, the fact is you don’t need to worry about sessions when you trade the way that we trade because we look at the close of a candle.

It doesn’t matter to me what the time of the day is. It doesn’t matter what the session we might be in or leading up to. It really does not matter. You look at the close of a candle and you see the trade. Take the trade from there. So, you know, first of all, when to go and look at a charts because it’s at the close of that candle.

But I like I said to him, the thing is, if you look at the 5 p.m. New York Close of Day charts and for him that might be like 2:00 in the afternoon and I’m at work and you know, I can’t trade then could have been an answer. You know, he could have said.

We use Limit Orders

And my reply was, well, it doesn’t matter again because we use limit orders to place our trades.

So if you don’t place, you trade two, five, six, 7:00 in the evening for him, which is, you know, like sort of three, four, five, 6 hours after the close of day 5 p.m. New York time. It doesn’t matter because at that time of the day, very little happens anyway. Would end of the US session time, you know, the start of New Zealand, Australia and into the Asian session.

Nothing happens on most days, so it really doesn’t matter if you’re not there at that exact time. So in other words, it doesn’t matter where you live in the world. Don’t worry about sessions. Trade the close of a candle, use limit orders and you’ll enjoy trading much, much more. You don’t need to be setting your alarm clock that I used to do it years ago.

When I started. I used to think I used to need to be up for the US session and it was like, you know, it’s 1:00 in the morning or something and it’s like crazy. You can do it for a week or two, but you’re not going to do it consistently. And ultimately it matters not one bit once you know what you’re doing.

So I completely changed my trading around, made it far more enjoyable for me. I can go out and do things like this, get outside in the sun, enjoy, you know, enjoy doing other things than sitting, watching charts all day.

Trading is about picking quality setups

And trading is about quality. It’s about getting the quality of your trades, your consistency of your trades, and the consistency of the trade setups.

Another example which I shared with the same guy today, I said, Look, we post our daily trades every single day, which we do and we’ve done since 2010, and today there were none. And it’s like, well, there were no specific daily chart trades for today. Therefore, don’t force trades, don’t take any. I’m sure they’ll be some other shorter timeframe chart setting up, you know, later today.

That probably will be. But simply because there were no trades on the daily charts. Don’t worry about it. It doesn’t none there don’t take any. Tomorrow they’re probably five or six. So you know you you make hay when the sun shines again, back to that sun. It’s good for you, the sun. So I hope that helps you.

Trade through Blueberry

Look, if you’re out there looking for a good broker, I can highly recommend blueberry markets over in Australia.

Great brokerage, MT4/MT5 platform. The MT5 platform has obviously more timeframe charts because MT5 does that. But also you’ve got the ability to trade other markets as well. You know the non-forex markets as well, which were findings from great set up so on. So it’s really important that you have a system and a strategy that allows you to trade all these different markets, not just the forex market.

If you want to trade those other, you know, those metals indices, cryptos, etc., then blueberry markets are a fantastic place to go. And if you want to trade those, make sure you have a strategy that works equally as well on both other markets. So I hope that helps. This is Andrew Mitchem here at the Forex trading coach, enjoying the sunshine, enjoying winter.

Can’t believe we’re just a few days away from the shortest day of the year. Absolutely beautiful. So hope you having a good time where you are and I’ll see you this time next week. Bye for now

Episode Title: #506: What’s the Best Trading Session?

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#505: How to Avoid Spending Hours Watching the Charts?

Jun 12, 2023

How to Avoid Spending Hours Watching the Charts?

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#505: How to Avoid Spending Hours Watching the Charts?

In this video:
00:33 – I’m going to save you a lot of time
01:49 – Don’t know when to look at your charts?
02:05 – The fix
02:35 – The Weekly charts
04:12 – Pick the times to look that suits you
05:45 – Trade through Blueberry Markets

Today, I’m going to show you how you can avoid spending far too much time glued to your chart, sitting at a computer and not making any money. Does that sound good? Well, it should do, because with this one simple trading tip and technique, I’m going to change all that for you. Let’s get into it right now.

Hey, the traders, Andrew Mitchem here at the Forex Trading Coach with video on podcast number 505.

I’m going to save you a lot of time

And that’s right. I’m going to today save you a lot of time. I’m going to save you a lot of mixed emotions and probably make you a lot of money as a result. So it should sound pretty good to you. Unfortunately, most people out there, most people watching this, most people listening to this will be spending far too much time sitting at their charts watching every pip movement up and down, scared to leave their charts, forcing trades, getting emotionally involved in their trading.

And as a result of that, you’re not doing yourself any good. You’re not making any money, not doing your health any good, and you’re wasting too much time. Look, I know I used to do it myself long time ago when I started trading, and it’s a very easy trap to fall into. And it doesn’t do you any good.

It doesn’t make your longevity as a trader any good because you’re forced to sit there hour upon hour because you’re scared about moving missing a move. It also means if you’re in a trade, you tend to find that you forced yourself into trade. And if you’re in a trade, you tend to jump out early because you see the trade moving in your direction.

Then it pulls back. And I should just take it now because something’s better than nothing, right? And it’s an issue that so many people face.

I’m going to save you a lot of time

It also means that they don’t know when to look at their charts. And that confusion and from looking at maybe like, can I say, a 15 minute chart saying the market’s moving up and our chart says it’s moving down a daily moving up and you get this complete mix going on and you don’t know what to do.

The fix

So a very, very easy way of avoiding all that is only look for a new potential trade set up upon the close of a candle. And what does that mean? Well, the forex market opens at 5 p.m. Eastern Standard Time. That’s New York time every day. That’s when the new day starts. So the market opens 5 p.m. on the Sunday New York time and it closes 5 p.m. on a Friday New York time.

The Weekly charts

So at the beginning of each week, just once a week, you could look, let’s say at the weekly charts, you know, when they open, they open the beginning of each week. They’re not going to change throughout the week or the previous weeks. Information is going to change once the weeks close. You look at the weekly chart, you can make your analysis exactly the same on a daily chart.

You know, when the daily chart opens, it’s 5 p.m. New York time. At that time, the previous day’s candle is complete. You can make your analysis. So if you traded just once a day on the daily charts, you can do very, very well. Also, you could then say let’s go something slightly shorter. You could look at the 12 hour charts.

Now conveniently, they also open at 5 p.m. New York time and of course, 12 hours later will be 5 a.m. New York time. So if you wanted to look at the 12 hour charts, you could look just twice a day. And that will give you a lot of trading opportunities within a day. Of course, you could go down to an eight hour chance, which of course three, eight, 24, 24 hours and a day.

They open three times a day for sorry, six hour charts, four times a day, four hour chart, six times a day. You know, it’s very, very easy to know when to look at a chart. So base the start of the day off 5 p.m. New York time. If you wanted to look at the next four hour chart, don’t even bother between 5 and 9 p.m. New York time because the candle hasn’t closed.

At 9 p.m New York time, the next four hour candle will close. Everything’s set. Doesn’t matter what levels you use and what indicators you use. Nothing’s moving from that previous four hour candle.

Pick the times to look that suits you

So if nothing else, pick the timeframe charts that you like. The look of all the times of day when you can have a look, know what that is in your local time and look at your charts at that time.

Once the candle has closed. It takes emotions out of your trading because you can see everything’s set. It makes the analysis a lot better. You can take some time. You can look at strength and weakness of other pairs that have closed as well. You can get your stop losses, your profit targets all in place. You can say, well, does this have anything to help protect the stop loss?

Is my profit target a good level? You lot size everything that you need to look for you can do without emotion because you have time. You can also know when to go and look at a chart. So as I mentioned, if you wanted to trade, say like weekly charts, daily charts, 12 hour charts, really you just need to look twice a day on the 12 hour charts, once a day, daily, once a week weekly.

That’s it. Job done. You’re not sitting there watching every paper movement go up and down. You’re not scared to miss something. And so that’s how you can really help yourself with your trading progress there. Absolute certainty you’ll enjoy it better. Absolute certainty you will take higher quality trades because you’re not emotionally involved and you’re not scared of missing something.

So that’s a massive tip there that will help your longevity and your profitability and your enjoyment. So take advantage of that information.

Trade through Blueberry Markets

If you’re out there looking for a suitable broker, I can highly recommend Blueberry Markets that based across the ditch from me. I’m in New Zealand, they’re over in Australia. But it doesn’t matter where you live in the world.

Most countries you can open the account and trade through Blueberry Markets. Great people, the Metatrader 4 Metatrader 5 broker platforms and a large variety of different markets, both Forex and now non forex markets, especially on that MT5 platform. Hope that helps. Do not sit looking at your charts or take Do not get emotionally involved in your trades.

Do not make stupid rash fast decisions. Take your trading back, slow it and know exactly when to look at your charts. Know what to look for you do far better hope the helps us see this time next week. This is Andrew Mitchem at The Forex Trading Couch. Bye for now.

Episode Title: #505: How to Avoid Spending Hours Watching the Charts?

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#504: Do You Lack a Clear Trading Strategy?

Jun 5, 2023

Do You Lack a Clear Trading Strategy?

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#504: Do You Lack a Clear Trading Strategy?

In this video:

00:26 – You know the stats – Most people lose

01:45 – Spreads will affect Sell trades

03:12 – We’re here to help and make this work for you

04:05 – Trades taken on a live webinar

04:56 – Clients from 103 Countries

05:06 – Profitable trades posted on the Forum site

05:59 – Trade through Blueberry Markets

Most people lack a clear trading strategy and it means they’re never going to make money out of the forex market. So let’s see how we can help you. Let’s talk about that and more right now.

Hey there, Traders! This is Andrew Mitchem here, the owner of the Forex Trading Coach with video on podcast number 504.

You know the stats – Most people lose

Now you’ve all heard the stats. 90 to 95% of traders out there lose money. And it’s a well-known fact. And you can see why it’s true. And as you can imagine, I get a huge amount of emails and I have quite a number of calls each week with people out there who are looking for help.

And the same pattern comes through time after time after time. The people are out there trading. They are putting real money into this. They think they can get onto prop firms early. They see it as a way out, maybe financially. But the issue is, is that almost all of the people I speak to have no idea what they’re doing.

They don’t have a clear strategy. They’re swapping and changing systems. They understand the market well enough. They don’t understand risk. They don’t know how to calculate lot size, they don’t know what timeframe charts to look at. They don’t know when to trade. They don’t really know their strategy in terms of like why they’re placing a trade, where to put a stop loss, Why is this a good trade, yes or no?

And then of course, things don’t works. They go and try and create something else or go to the next thing that they find on some forum somewhere. And that whole lack of consistency, that lack of understanding in the market.

Spreads will affect Sell trades

Like I do know that if you take sell trades on especially pairs, that spreads widen like the exotic pairs, let’s say at the close of a day, a sell trade can get you wiped out for your stop loss because of a massive widening and spread.

But that won’t happen on a by trade, you know, do know things like that. Do you know when the close of the day even is do you know how important 5 p.m. New York time is all these types of things. And so do you know how to calculate your risk? You know that Pips are completely irrelevant. Do you know that?

Do you know that in some ways having a very, very high win rate is completely irrelevant, You know, all these type of things. So a lack of understanding is what I’m seeing out there all the time. And it’s quite concerning because all people are doing is basically jumping into trading and placing some trades. They might get lucky on a few trades and then of course the inevitable happens and it goes wrong and they lose their money or they jump on a prop firm way too early without knowing what they’re doing.

They have not proven to themselves that they could trade on a demo, even let alone a small live personal account. But they’re quite happy to go and throw money into a prop firm because they see that is the easy way out. And the danger there is that you become disillusioned. You don’t have confidence in yourself. You think systems rigged, you think the brokers rigging it, you know, whatever it might be.

And it all, you know, it all goes wrong. You give up and, you know, you move on to the next thing.

We’re here to help and make this work for you

And we’re here to make things different for people. Our aim is to have quality, consistent traders, independent traders. I had that question last week. Hey, Andrew, if I join you and all I’m doing is just copying what you’re doing, how am I going to learn?

That’s not the reason. That’s not what we do or why we do what we do. As a coach, our aim is to help you along. We’re taking these trades anyway. Yes, it’s great to copy them every day we post daily trades. I’ve only taken one today because that’s what the market showing me. On Wednesday I took four trades, you know, because that’s what the market showing you.

So, yes, we’re taking these trades for you to earn from, definitely. But more importantly, to learn from. To learn why we’re taking the trades in real time for you to be able to do that, to train your eye, to have confidence in the logic and the strategy that we teach.

Trades taken on a live webinar

Just last night my time, I took a live webinar which we do each week for our clients. On that session, I took trades on the three hour charts, the four hour sorry, the three out, the two out of the three out of the four hour and the 12 hour charts all taken live for our clients to follow again to earn from if we get those trades right, but more importantly, to learn from. It’s understanding how to trade is the most important thing you can do, because once you do that, the returns will follow.

Too many people get into this at the beginning, worrying about how much I’m going to make, how soon it is, can I give up my job, How do I how much do I need in my account so I can make $1,000 a week? All those questions that I get and I get why I get them, but they’re completely irrelevant today.

Unless you know what you’re doing, unless you know how to trade. And that’s where we come in. And that’s why we’ve helped so many clients.

Clients from 103 Countries

We’ve now got clients in 103 countries, and we’re approaching 4000 clients over the last 14 plus years. And we’re really proud of the community that we have.

Profitable trades posted on the Forum site

Another example, just yesterday I saw a client post a trade on the Euro US dollar three hour chart.

I wasn’t even looking at that chart. He posted it on the forum site. I saw the the notification on the forum site. So I saw the trade, wow, this is a great trade. Thank you Karl over in the UK for posting that. I took the trade. Guess what? It hit the full profit target while we’re on the webinar live last night and made me some great return a 3 to 1 reward to risk return there.

So if you don’t have a strategy, you’ve got to get something that works consistently and has been proven and that’s again where we can help. Each week I hold a live webinar for our clients. We post daily trades each day and we have trades on our forum site. If you’d like to find out more, click on the link that I’ll put here to take you through to our masterclass. It’s a one hour session, gives you a bit of background insight, how we trade.

Trade through Blueberry Markets

If you’re looking for a good broker, I can highly recommend blueberry markets that are based over in Australia, but you can try through blueberry markets. Doesn’t matter where you live. In the world’s a few countries, you cannot trade through them, most notably the US and a few other countries.

But everybody else You can trade through blueberry markets. I’ll put a link to them here on this video and podcast post as well. Go and check them out. They’re a fantastic bunch of people, great broker, great service, fantastic spreads, etc. everything you need for a reliable broker. So I hope that this video and podcast helps if you have any topics you’d like me to discuss on future videos and podcasts just like this one, send me an email.

Andrew@TheForexTradingCoach.com or leave a comment If you’re on YouTube and I can help discuss other trading topics to get you further ahead quicker. If you’re watching on YouTube like and subscribe, pass it on to anybody you think might be interested as well.

And I’ll see this time next week. Bye for now

Episode Title: #504: Do You Lack a Clear Trading Strategy?

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#503 – Trading – Does FEAR Prevent You from Being Profitable?

May 29, 2023

Trading – Does FEAR Prevent You from Being Profitable?

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#503: Trading – Does FEAR Prevent You from Being Profitable?

In this video:
00:32 – I’m not sure if I can trade
01:05 – Fear is not real
02:03 – Government control
02:37 – My personal experiences and fears
04:33 – Everyone starts trading at the same place
05:37 – Just do it
06:06 – Check out my new Masterclass

Trading. Can I do this? Or is my fear taking over and preventing me from wanting to even start? Let’s talk about that and more right now.

Hey, the traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 503.

Just wanted to come outside. Another beautiful day here to make this video because.

I’m not sure if I can trade

I get a few emails from people saying, look, I’m not sure if I can really do this or can I talk to someone because I want to see if I’m right for this.

And the issue there is that people just get, I suppose, caught up in fear or the fear of not making it work, the fear of even getting started, the fear of is this too difficult? Is it something I’m going to understand? Am I clever enough for this? Whatever the fears might be, I’m not very good at numbers, you know, all those type of things. And I get that.

Fear is not real

But also I suppose from a mindset point of view, fear is something that’s just not really there, is it? Something that we all as individuals have this issue with because just think of, for example, the fear of flying. It’s not really anything physical. It’s just our heads telling us, you know, when people have that fear.

And as a pilot myself, I find that really strange. Although I understand it, I find it really strange when I take people for a flying helicopter. People go, I’m terrified of flying. It’s like, Well, don’t you think that I want to do this and get home and do it properly and safely as well, You know? And so it’s a very strange sort of fear there.

And when you think about commercial planes, etc., is probably the safest form of transport there is. Yet so many people have a fear that yet they’re quite happy to sit in a car and go on the road where there’s accidents all over the place, you know. So it’s just that mental side of things that people have an issue with.

Government control

Fear is all, you know, it’s all right. And it’s just look at the way that the governments around the world for the last three years of have reacted and acted. It’s all about control and fear that’s made people, you know, sort of scared. Trading is no different. You know, it’s all about understanding emotions and controlling emotions.

So can you do this? Is it too hard? I want to talk to someone first. I’m not sure all those fearful things are just you having a new experience or scared of a new experience.

My personal experiences and fears

And from a personal point of view, I get that. You know, the man, when I was making this video, I was putting together some notes and I was thinking, well, from a personal point of view, I left the other side of the world.

I left a family farm that had been in the farm for generations, 25 years ago, came to New Zealand, flew to the other side of the world. I mean, what a fearful experience that was. I can tell you I didn’t know anybody here. I met my boss once for an afternoon about eight months prior. I didn’t know a single other person here, you know, back in the days before Internet as well, and cell phones.

So, you know, that was pretty fearful, leaving my only job that I’d ever had and paid employment for a couple of years, few years, and then going to take on huge debt to go and buy my own farm that was fearful when I sold the farm. And what was I going to do next that was fearful, getting into trading?

Well, going round in circles for four years, you know, and and fear of not making it work as well. That was fearful. All sorts of things. You know, I got into karate that was fearful because I was very uncoordinated. And so, you know, ended up teaching it for years and loved it learning to fly helicopter. I’ve I don’t know anybody that flies prior to learning.

So I can tell you that was pretty fearful. But, you know, I did it and I love it. And then moving to the South Island here in Nelson, you know, leaving 20 sort of to 23 years of sort of connections and friends not leaving, but, you know, moving away from to move to the South Island. That was pretty fearful.

More recently, I’ve started to learn to play the guitar and I’ve never done anything like that and performed on stage. And about a month ago I performed on stage for the first time. That was pretty fearful. So it’s almost like you’ve just got to go and do these things. If it’s something that you want to make work for you and to improve or change what you’re currently doing.

Everyone starts trading at the same place

And so we did all that because everybody started trading. Don’t forget, in that fearful state. And when they have been brand new and don’t know anything and you feel like you’re kind of out of your depth and, you know, a little bit green and not sure what you’re doing. And and so we get that because as coaches, we’ve all been there and we’ve all taught people who have been in that situation.

But what we can do is take you through a step by step process with a strategy that works. And that’s why we post our daily trades every day, because it helps people to gain confidence and to be able to see what we’re doing each day and to learn from those trades, but also to earn from them as well.

It’s why we have live weekly webinars. It’s why we have a forum site where we’re all trading the same strategy and it doesn’t matter where you live in the world, you can all trade the same strategy. So put all those things together and with the course, the step by step instructions, the accessibility that we have, all of those things can help overcome that fear that someone might have. And again, perfectly understandable.

Just do it

But just think of it this way. Just, just do it and quote my lovely wife, Jenny. She always has a phrase. You know, she says, you’re a long time dead. So it’s very true. You know, I suppose it’s as you get older in life, you kind of realize that if you just want to change things, you just going to do stuff, just go and do it.

And fear is just something that we all have in our heads. It’s not a real thing. Just just go and do it.

Check out my new Masterclass

So if you’d like to just go and do it and you like to make trading work for you, just come and check it out. I masterclass that we held is an hour long presentation, teaches you all about what we look for, what we do, how we can help.

I’ll put a link to it here. It’s probably a first step. Feel free to book a call with one of us, either myself or Paul over in America or Mikalai in London, and just have a chat with us. You know, we’re real people all being there at the beginning and so we know exactly what it’s like if you’re new to trading.

And that’s it for this week. Yeah, trading. Can I do this? Absolutely you can. And I see this time next week. Bye for now

Episode Title: #503: Trading – Does FEAR Prevent You from Being Profitable?

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#502: Celebrating 14 Years of Helping Traders Worldwide

May 15, 2023

Celebrating 14 Years of Helping Traders Worldwide

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#502: Celebrating 14 Years of Helping Traders Worldwide

In this video:
00:39 – We turn 14 years old at TFTC
01:31 – The strategy has never changed
02:27 – Our amazing trading community
02:50 – Your chance to join us this week
03:58 – Blueberry Markets

We’re celebrating 14 years here at the Forex Trading Coach, and we’re going to give you an absolutely amazing opportunity to come and join us at a crazy low price for three days for this week only. Let’s get into that and more run that.

Hey, the traders, Andrew Mitchem here, the Forex Trading Coach for a video and podcast number 502.

Just come outside today and you can see in here behind me the first snow of the year on the mountains behind. And what better way to come out in the fresh air, in the sunshine and talk about trading.

We turn 14 years old at TFTC

So we turn 14 years old at the Forex Trading Coach this week. When you get to watch this video, something we’re incredibly proud of. I’ve just had personally my 50th last week as well, 50th birthday and 14 years of coaching. So a big time for celebration.

So look, we’re incredibly proud of what we’ve achieved over the last 14 years with our community of help. So many people worldwide. To achieve financial freedom and success and basically change lives for people. So many people have joined us that are being completely and utterly frustrated with their trading and not making money. And we’ve been able to help change things around for them.

And likewise, we’ve had people never traded ever in their life. And the good thing is, from their point of view is they get to learn a system straight up with with no bad preconceived ideas. So it doesn’t really matter where you are in the journey or in the spectrum that we can certainly help you.

The strategy has never changed

The other thing to let you know, over the last 14 years, like obviously things change and things have got better and better in terms of improvement.

The delivery of how we provide the course. But the strategy has never, ever changed. And I could go back 14 years and look at webinars that I started. Back then 2009 – 2010 and the strategy, the trades I’d taken back then would be identical to the trades taken just today. So that’s a huge credit for the strategy and the course because it works across all markets, all time frame charts and that new market such as like the indices, cryptos, commodities, etc., like that as well.

And the good thing is they never change because it’s based on sound logical principles of price action. And so therefore, if the market is showing the quality set up, if you take the trades, if they setups are not there, you don’t take the trades as simple as that really.

Our amazing trading community

But look, over these years we’ve just built up a fantastic community of go ahead, like minded progressive people all trading that one strategy and the community is a massive part of what we have.

Through our forum sites, through our Daily trades, through our live webinars, everybody looking at the same charts at the same time because we all use our MT4/MT5 indicators and templates.

Your chance to join us this week

But if you not a client right now, this week is going to be your best opportunity. We are only holding one sale this year and it’s going to be right now between Tuesday and Thursday.

We’re going to give you the option to join us for crazy low price. There’s also going to be a split payment option as well. To find out more, click on the link that I’ll put on this video and podcast and it will take you through your page where you can find out the price, how you can join, what dates it’s on, etc. and take advantage of that.

Look, if you want to change your trading around and become finally a successful, independent, profitable trader, we’re teaching the person to fish. Yes, we provide you with the fish to help you to learn and earn. But ultimately, as I as a coach, our job is to get you to be able to do this for yourself with our help along the way.

And that’s what we do. That’s what we’ve done for 14 years. That’s why we have so many successful, happy people and so many stories of just helping so many people to jump on board. As I mentioned, click on here for three days only. There will not be another sale this year. A massive opportunity to save 67% on the main joining fee. And come on board with us right now.

Blueberry Markets

Last thing in terms of brokers blueberry markets is just fantastic people. They are a great bunch of people. I have so much respect for what they do and who they have their efficiency, their quality of their customer service. Whenever I hear from clients who have gone to Blueberry and say, Look, Andrew, you suggested I try blueberry markets, they’ve just been fantastic.

It’s so pleasing to hear that we recommend someone and that company exceeds expectations with a quality that they offer. Again, I’ll put a link to blueberry markets here as well. So that’s it for now. This is Andrew Mitchem here, the Forex Trading Coach celebrating 50 years personally and 14 years as a coach. I see this time next week. Bye for now.

Episode Title: #502: Celebrating 14 Years of Helping Traders Worldwide

Find out more about Blueberry Markets – Click Here

Find out more about my Online Video Forex Course

Signup For my 14th Birthday Sale

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#501: Learn How to Pass a Prop Firm Challenge

May 8, 2023

Learn How to Pass a Prop Firm Challenge

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#501: Learn How to Pass a Prop Firm Challenge

In this video:
00:28 – Lacking the capital to make a good income?
01:25 – Prop firms to the rescue
01:52 – Make sure you are profitable first
03:33 – How much to risk per trade?
05:19 – High Reward:Risk Trades
06:15 – View my new on-demand masterclass
06:54 – Take a look at Blueberry Markets

Prop firms. They’re a great way to make a substantial income through trading in the Forex market. But how do you pass their Challenges successfully and consistently? Let’s talk about that and more right now.

Hey there, Forex traders! Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 501.

Lacking the capital to make a good income?

Now, traditionally people have always had an issue when it comes to trading and the feeling that they cannot make a substantial income out of their trading.

And it’s a question that I’ve been, you know, sort of presented with for years and years and people go. Look, Andrew, love to do your course, but I’ve got $10,000. I spent a couple thousand dollars on your course. I don’t really have enough money. Even if I can make 50% in a year, you know, to actually make something substantial out of my trading account.

And it’s understandable. And my answer has always been, well, that’s fine. And I know it’s easy for me to say, but you’ve got to learn to trade properly first, learn how to first still doesn’t actually solve the issue for the individual. And, you know, in the past, people were able to do things like maybe trade funds for other people or sell signals and things like that, but it’s always been a little bit difficult.

Prop firms to the rescue

However, over the last few years, you’d have noticed we’ve got a massive influx of prop firms and like everything in the Forex market and everything online, there’s good in this. Maybe not so good. You have to do your research to find out what you consider to be a good prop firm. But my job as an educator and as someone who provides a forex strategy is to give you some tips and information of how you can best passed those firm challenges.

Make sure you are profitable first

So the first thing you need to do before you even get to that stage of thinking about a prop firm is make sure that you are consistently profitable yourself. If you’re learning a new strategy, like if you’re coming to us and it doesn’t matter how big your account is, how long you’ve been trading, I always say to people, get onto a live demo account and a small live demo account of that and make sure you’re profitable on that first.

The reason is then you gain confidence in yourself and the strategy and the group of people like us that you’ve joined, etc. You’ve got to gain confidence in doing this properly first, then move on to your own personal live account. Doesn’t has to be big. It doesn’t really matter what size it is, but the ability to be successful and consistent on a live account with low drawdown.

Really important point there. because when you move to a prop firm, you’re then got confidence in yourself. You’ve got confidence in your strategy and your ability. The reason I mention low drawdown is because ultimately when you go to a prop firm, you have to make sure you’re preserving their capital. That’s why they have those rules in place. Most of them have like about a 5% maximum drawdown, and rightly so.

This is their capital that, you know, even if you passed a few demo challenges and you want to real money, this is their capital. They’re risking this for you to trade it. If you don’t know what you’re doing and you’re out there risking 3%-5% to trade, you don’t last long. You’re just going to keep paying them. Lots of small subscriptions.

But if you’re there to do this properly, you have to ensure that all your trades are very low risk.

How much to risk per trade?

In my normal day to day trading, I recommend a half of 1% on prop firms. I’d probably go lower. I’d be looking at something like a 0.25%, a quarter of 1% risk. I’m not saying that’s the actual figure you should do, but I’m saying something like that is a really smart idea because when you think about it, if you have a 5% maximum drawdown and it’s going to take you for losing trades to get to 1%, four times five is 20, you have to have 20 losing trades all in a row at quarter of 1% to fail that challenge.

Now, sure, it may take longer to get to the profit target and it’s important that you choose a prop firm who do not have a limit on or a maximum number of days that you have. I don’t think that’s a great idea. These prop firms say you’ve got to reach 10% in 30 days.

I would steer completely clear of them personally. I wouldn’t go near them. Why? Well, 30 days In reality, it’s probably 20 trading days time. You take out weekends and things and you take out maybe Mondays. Not particularly active. Friday may not be that active. You really only have a few trading days to make that money and let’s say you’re up at 6%, 7% and you’ve got a couple of days left.

You’re then going to do something stupid and you’re going to take silly risk. Yes, you might fluke it once, but probably not. And you’re going to end up losing it and regretting all that work you’ve done because of their silly rule. To me, a good prop firm should have no limit on the time it takes you to get to that 10%.

Therefore, you can keep within the risk parameters and therefore you can have slow, steady gains. So risk is obviously one major factor because it’s their capital that they want you to preserve.

High Reward:Risk Trades

And the second thing is making sure you have trades with high reward to risk, because therefore when you have profitable trades, they’re going to be two or three, four times your risk.

Therefore, quarter percent risk, you might be up to like half percent, three quarters, 1%, even 1% account gain for every trade that’s profitable. And that’s how you’re going to get yourself through these prop firm challenges. Obviously, if you know what you’re doing in knowing how to trade, you’re in within their rules of low risk and get to their profit targets.

The the upside potential is literally unlimited and that’s what a lot of our clients are doing. And that’s because the way that we trade and the way we teach is a sensible, low risk, but with high reward risk twice, it’s what the prop firms want. It’s what you should want. If you’ve got any interest in being a successful and good quality professional trader out of this.

View my new on-demand masterclass

So have a look at our masterclass. It’s a new masterclass. It’s about an hour long. It’s an OnDemand session. You can watch it at any time that suits you. I really encourage you to go and have a watch of that session to see how we trade and what we’re doing on that. At the end of that session. We also give you the option to book a live 30 minute session with myself or with Paul.

Paul is over in the US and I’m here in New Zealand and between us we can cover you know, the clock and the globe. And that’s an opportunity at the end of that masterclass session to find out if we’re a good fit for each other and how we can help you further.

Take a look at Blueberry Markets

If you’re out there looking for a good forex broker for your personal account, I can highly recommend Blueberry Markets are a fantastic bunch of people, fantastic brokerage, low spreads, low commissions and MT4/MT5 ASIC regulated over in Australia as well.

Been around for a number of years now personally owned by and I know the guy who personally owns it and so you’ve got a lot of credibility there and that’s why we like working with them. Their customer service is absolutely the best you will find. So have a look at the link I’ll put on here to blueberry markets, Have a look at the link I’ll put on here to our masterclass.

And if you are looking at increasing your income through the use of prop firms, consider all the things I’ve just mentioned and it will massively help you. So once again, this is Andrew Mitchem here at the Forex Trading Coach. I see this time next week. Bye for now

Episode Title: #501: Learn How to Pass a Prop Firm Challenge

Find out more about Blueberry Markets – Click Here

Find out more about my Online Video Forex Course

Join my Forex Training Masterclass

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#500: Lessons from my 20 years as a Forex Trader

May 1, 2023

Lessons from my 20 years as a Forex Trader

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#500: Lessons from my 20 years as a Forex Trader

In this video:
00:20 – How my 20 years of trading knowledge can help you
00:47 – Trading is hard work
02:40 – You are in a fortunate position today
03:33 – Our commitment to quality
05:22 – Get the basics right first
06:42 – View my new on-demand masterclass
07:07 – Take a look at Blueberry Markets

I want to help you by explaining some of the things that I found out in the last 20 years as a full time forex trader. Let’s talk about that and more right now.

Hey, the traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 500.

How my 20 years of trading knowledge can help you

So big celebration today, something we are really proud of. And I’d like just to come out so I this you can see here nice sort of autumn day here in Nelson and wanted to explain what I’ve learned so I can pass the information on to you and help you to become a better trader by shortcutting the learning process for you.

Trading is hard work

So first of all, let’s just be real about this. Good trading is hard. It takes time, it takes dedication, it takes commitment. If you’re the sort of person that is lazy or you think it’s just going to suddenly, roll off and make you a multi-millionaire by next month, it’s not for you, or certainly we’re not for you.

You’re probably wasting your time. In all honesty, you have to be real about this. And so I think that is one of the things that I find, especially with coaching, you know, from time to time and it’s probably on a daily basis, people will come to me and say, Andrew, how much can I make from this? Or I don’t like my job, I want to replace it with trading.

Now there’s a few things there. If you want to put some effort, time, commitment, financial commitment, your own time, commitment, a bit of hard work. Yes, it can work. And yes, you can replace your your income with it. Lost of ways you can do that? Like prop firms, etc. like that. But you still have to start small. You have to learn to walk before you can run.

All those kind of phrases are so, so true and trading. And over the last 20 years, I think that’s probably one of the biggest things that I find because online obviously there’s a lot of makes it look easy things, a lot of, you know, YouTube videos everywhere. Everybody’s got an opinion or a method that, you know, it’s going to make you a multimillionaire next week.

They’re driving around in this red flash Ferrari and things like that. Laptops and pretty women sat next them. Look, they’re all hired. They’re not real, they’re staged. When I fly around in my helicopter and show you that’s me flying in my own helicopter. I’ve done that through hard work trading and hard work to learn how to do that and hard work to be able to afford, how to do that.

So it’s real. It’s taken 20 years, you know, it’s not something I started, and within a month I was suddenly owning a helicopter. So get it real and realize that I have gray hair and it takes time. And that’s what you have to accept.

You are in a fortunate position today

But you are in a fortunate position because, you see, when I started, we are on dial up Internet. Things were very different. Not a lot of information out there. I had a one gigabyte plan when I started trading on dial up. First of all, I had to get the Internet to work and actually stay stable and then one gigabyte plan, which my mates were absolutely amazed at, that I had a one gigabyte per month Internet plan.

It was huge. And then I remember we went to 10 Gig and everybody was just blown away that I would have such a massive amount of Internet per month. And of course things have changed as everything does. Technology changes everything. It gets better, improves, hopefully. So, you know, you got no excuse today in terms of like cheap laptops, cheap Internet, reliable go anywhere in the world pretty much.

And you’ve got Internet. So you have that in your favor today, which of course we did not have.

Our commitment to quality

The downside is, of course, there’s more scams and more things out there. I suppose we still had them back then, but less of them. So, you know, there’s pros and cons of everything. But the good thing is, you know what I’m proud of?

Of what we’ve done is we have that commitment, that achievement, that consistency, that showing up. Just last night I held a live webinar for my clients. I’ve done that every two weeks for my clients since 2010. The alternate weeks a US session which Paul Tillman holds for me, we are consistent, we show up. We do that every day.

I’ve just literally before I’ve started this video made and posted my daily chart trade suggestions for today, which is Friday the 28th of April. I put six trades on our membership site for our clients to follow. Learn from, and hopefully they get a wealth and from us. Well, today on the webinar last night I took three trades live, so we’ve done that every day.

We have never missed a day of daily trade since 2010, not one. And so that again shows our commitment effort. Just email me, try us out. Email us. We will reply to personally. If you book a Zoom call with me, we all report. We will show up. That’s our commitment to our professionalism and our dedication to what we do as traders and what we are like as people.

Just look at these videos and podcast. This is number 500. Every Friday I post them. How many people do you find that, you know, have a business or post five or ten videos and then you never see them again? We are. They are showing up day in, day out, because we’re doing this ourselves as real traders, you know, because that’s what we do.

That’s what we love and enjoy. So do that and have consistency. Put some effort in. It will work for you.

Get the basics right first

On a trading point of view, Just want to really sort of convey, I suppose it comes back to the basics. It comes back to the way that we trade. Why it works because it works across all market conditions.

So no matter what the political, economic and, you know, all the different events that happened over the last 20 years that I’ve been trading. The strategy that I’ve been teaching for 14 years now works consistently because it’s based on price action, candle patterns. What part of the chart it shows in, how we got support and resistance, round numbers, divergence, all these things, strength and weakness that we look for really important.

You do that and have that consistency and we also of course look for low risk per trade and we also ensure that our trades have high reward to risk per trade. So you put these basics together and you can see why what we do works and the daily trades, the webinars, the forums site, the emails, the support site, the trading software, all of this put together with the strategy and the videos and our help and support is why it works for people.

So that really is our point of difference. I suppose it works because it just does, because we’ve proven over all these years. 14 years next month the Forex Trading Coach something again we’re really immensely proud of with clients in 101 countries. So if you want to go further, a couple things you can do.

View my new on-demand masterclass

If you’ve not been on my new On Demand webinar, you can click on that and just watch it whenever it suits you.

At the end of that webinar, there is an option for you to book a call live zoom call with myself or with Paul Tillman, who’s over in the US. Using our calendar system, and you can do that at the end of the webinar. Make sure it’s right for you though first.

Take a look at Blueberry Markets

And also if you are looking for a broker, I can highly recommend you consider and look at blueberry markets, they’re base across over the ditch over there to the west of me over in Australia. Good bunch of people, great platform, MT4/MT5 lots of different markets as well now.

And also lots of more minor exotic forex pairs as well. Good spreads, just good people. Have a look at blueberry markets again. I’ll put a link to them here as well for you. So that’s it for today. Really proud of our efforts and commitments. Like I said, this is video on podcast number 500. Just love doing what we’re doing.

Any questions, please ask and I’ll see you next week. Bye for now.

Episode Title: #500: Lessons from my 20 years as a Forex Trader

Find out more about Blueberry Markets – Click Here

Find out more about my Online Video Forex Course

Join my Forex Training Masterclass

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#499: Why Schools Will Never Teach Trading

Apr 24, 2023

Why Schools Will Never Teach Trading

Podcast:

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#499: Why Schools Will Never Teach Trading

In this video:
00:29 – #1 Learning how to trade is not taught in schools
03:25 – There’s no better time to learn than right now
03:52 – #2 Our new on-demand Masterclass
04:33 – #3 Blueberry Markets
04:55 – Next week is video #500
05:14 – Share, Like & Subscribe

Learning how to trade or even why you should look at learning how to trade is something that will never be taught in schools, colleges, or universities. 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 499. We’ve got three important things to discuss.

#1 Learning how to trade is not taught in schools

The first is, I believe that learning how to trade or why you should even think about learning how to trade is something you’ll never find in schools or university. It doesn’t matter where you live in the world. Why? Well, it’s because it’s different. It’s because schools are generally set up to teach you how to go and learn a skill to be able to go and work.

And generally that means you’re out there learning and, you know, to work for someone for generally X number of dollars or pounds or euros or yens per hour. It’s creating something for the masses to go out there, learn a skill that is your job for life and you go to work, you earn your money, you come home. And it’s something that sadly the education system is set up for.

And although there are some schools that are good, there are universities that are good, there are good teachers, but the vast majority of teachers there do not have the skills themselves to think about something different, to think outside the box, to think outside the curriculum, to be entrepreneurs, to look at things like trading. Because that’s not the sort of person they are.

That’s why they are teacher, That’s why they teach history or English or Maths or Geography, whatever it might be or very, very important skills. And I can assure you I’m not knocking them, but what I’m saying is that in general, in my experience and don’t forget I’ve had five kids that I find that schools are just very stuck in their ways of getting enough people through the system, ticking enough boxes, the teachers just getting by, getting enough kids through.

You generally find that most kids are really, really good. Get bored at school because the teacher spends all their time worrying about the kids who are not good at school and getting them up through enough to get the teachers a pass mark and make the school of good. That’s the general way of how it works and looking at things like online businesses, it’s really strange because when you consider that, you know, there are so many online businesses now and entrepreneurship and things like that, we don’t get taught that.

And there’s so many basic money skills in life. I had to open a bank account, what’s a mortgage? All those things that most schools and most kids are leaving school, getting into adult life do not know. And so trading is one of those things. And again, it comes back to it’s not in the curriculum because the education system probably doesn’t understand or doesn’t want you doing it.

The teachers, most of them, certainly don’t understand it anyway. Big problem, as you can see. So that’s why I think that education in trading and learning how to trade and why potentially you should look at learning how to trade is such a flaw in the education system and that’s why something like ourselves here at the Forex Trading Coach can offer you something that you’re probably not going to find in many places out there.

There’s no better time to learn than right now

If you are young, there’s no better chance and time to get into it than right now. Learn how to do this.

And naturally probably going to be really good and better than older people on computers and the internet and things like that. So take your time, learn how to do this properly and get yourself a good passive income or even a full time career through prop firms and things like that of learning how to trade and doing this properly because it’s perfectly doable.

#2 Our new on-demand Masterclass

The second thing that I want to talk about is our new On-Demand webinar that we have now live on our membership site, on our on our website. I should say. Go have a look on our website and I’ll put a link to it here. You can watch it.

It’s just over an hour long, contains lots of really good forex information for you to give you an understanding of what Forex, what we offer, what we do, how you can learn the things that we the tips and trading information that we look at with candles and risk management and rewards risk and prop firms and all these things and build this bigger picture together. To help you to develop further as a trader.

#3 Blueberry Markets

And the third and last thing is you are out there looking for a really good forex broker I can highly recommend, Blueberry Markets that are fantastic broker they offer MT4 and MT5. Lots and lots of markets on their MT5 platform. Really good to see have a look to at blueberry markets. If you’re looking for a really good broker again I’ll put a link to them here.

Next week is video #500

Next week. We are on video and podcast number 500. That’s quite an amazing achievement considering we put these at pretty much weekly. And if you’d like to ask any questions you’d like me to cover on next week’s video and podcasts, do send me an email Andrew@theforextradingcoach.com

Share, Like & Subscribe

If you’re watching on YouTube or any other video format, please like and subscribe, share the video around and share it with any friends and family who think might be needing that forex education. I’ll see you this time next week. Bye for now.

Episode Title: #499: Why Schools Will Never Teach Trading

Find out more about Blueberry Markets – Click Here

Find out more about my Online Video Forex Course

Join my Forex Training Masterclass

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#498: Why Trading for 30 Minutes a Day is Better than Trading for 8 Hours a Day

Apr 17, 2023

Why Trading for 30 Minutes a Day is Better than Trading for 8 Hours a Day

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#498: Why Trading for 30 Minutes a Day is Better than Trading for 8 Hours a Day

In this video:
00:28 – Less is More
00:53 – FOMO – Fear Of Missing Out
02:05 – Trade for enjoyment
03:03 – Trade examples from this week
04:38 – Our NEW on-demand Masterclass
05:20 – Blueberry Markets

I’m going to explain why trading and looking at your charts for 30 minutes a day is so much better than trading and looking at your charts for 8 hours a day. Let’s get into that more right now.

Hey there, Forex Traders! Andrew Mitchem here at the Forex Trading Coach with video and podcast number 498.

Less is More

I want to talk about something that might seem so obvious, but unfortunately most people don’t do it.

And that is why trading 30 minutes at a maximum is so much better than staring at your charts and being glued to the screen for 8 hours or more day. Well, as I mentioned, it seems so obvious, doesn’t it? What are the benefits? Well, they’re endless. But why is it that so few people do that?

FOMO – Fear Of Missing Out

So it probably comes down to when you start trading, you think that you need to do more and more and you need to be glued to the charts all day and all night.

You just can’t get away from it. You’re watching every pip movement up and down your flicking between different charts, different timeframes, different currency pairs, different markets, and you then think that you need to get into trading different sessions and you need to be there at the beginning of the European session. You need to trade during the US session.

We need to trade all the news announcements, the Red high impact news announcements. So that you see on Forex Factory. You think you need to trade those as well. You’ve been told that the main price action happens when Europe’s open and America is open. So you have to trade then. And I know exactly what it’s like because years ago when I started trading, I knew exactly the same.

I was trading those sessions, which is night time. My time I was trading news announcements and setting my clock on my watch all the time to be there 5 minutes before those major news announcements in then. All through the night. And trying to do that with five young kids as well is a bit of a nightmare to be honest. And I’m glad it didn’t last for too long before I finally figured out that it wasn’t a good idea.

Trade for enjoyment

So to trade properly, to trade with enjoyment and I’ve been doing this for 18 years now and teaching for 14 years, so I can tell you with some knowledge, some experience of what works and what does not work. And I can tell you that if you can trade properly with looking at a chance a few times a day, 15 to 30 minutes a day, it’s enjoyable because it’s real, it provides longevity and it provides enjoyment in what you’re doing.

It doesn’t burn you, it doesn’t stress you out. You can carry on doing what you’re doing. You can carry on with family life, other jobs, whatever it is that you’re doing, you can trade on prop firms. You don’t need to be spending all day and night doing it and you can copy across from a main account to prop firm account.

So just because you think I’m doing this for not much time in the day doesn’t mean to say that it’s wrong or it’s lazy or anything like that is absolute complete opposite. It’s what makes trading real and enjoyable and profitable.

Trade examples from this week

To give you some examples from three trades that I took this week, we started off trading this week after the Easter break on Wednesday and on Wednesday I posted three trades off the daily charts based off the daily charts for our clients.

It was a sell trade on the USD/CAD, buy trade on the EUR/USD and a buy trade on the EUR/HKD. All three were profitable and so the results of that were the USD/CAD made a 1.8 to 1 reward to risk. We also did have one position stopped out as well. So that was a 50/50 there one profitable one not. The EUR/USD made a 3.9 to 1 reward risk.

The EUR/HKD made a 3.6 to 1. Put those together I made from those three trades, including the one loss on the USD/CAD and one gain. I made just over a 2% gain on those three trades, which literally took my clients less than 5 minutes to identify and to place. So “Less is More”. 2% gain, real low risk per trade.

You don’t need to be sitting there watching every pip moving going up and down driving yourself mad because it’s just not real. It’s just not enjoyable. So make sure that you have a strategy that uses close of candles and probably also the longer timeframe charts. It’s going to make your trading much more profitable, much more real, much more enjoyable.

Our NEW on-demand Masterclass

So two other things to mention to you. Our new On-Demand webinar is now ready for you to view. If you haven’t been on my webinars in the past or even if you have, this is completely different. I’m going to put a link to it on this video podcast so you can click on at a time that suits you is completely on demand and it’s instant access to that webinar.

It’s just over an hour long, really worth your time to go and register for that and to find out more about what we do, how we trade, how we can help you and get lots of trading tips and information, talks about all sorts of things about trading risk shows, some of our trades that we’ve taken. Talk about prop firms and how you can trade properly. Go and click on the link.

Blueberry Markets

And lastly, if you’re out there looking for a really good broker, have a look at blueberry markets again, I’ll put a link to them on here. Blueberry markets, they’re based in Australia, but it doesn’t matter where you live in the world, pretty much every country apart from the few plus the US, you cannot trade through blueberry.

But if you’re everywhere else or anywhere else, you can pretty much trade through blueberry markets and great bunch of people. Incredible customer service. Probably the best you’ll ever find out at any broker that I’ve ever experienced. Blueberry markets. There’s a link here as well.

Any questions that you have, send me an email. Andrew@theforextradingcoach.com any topics you like me to discuss over the next few weeks?

Please send them through and in 2 videos from right now we get to video post and podcast number 500. So looking forward to that.

Anything you want me to cover on that one, let me know. Bye for now!