Weekly Video News & Podcast

#438: Reading a Book Will Only Get You So Far

Dec 5, 2021

Reading a Book Will Only Get You So Far

Podcast:

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#437: How to Easily Calculate Your Position

In this video:
00:29 – You need more than just theory from a book
01:06 – What our clients get out of our live weekly webinars
03:19 – Another example from my experience of flying
05:02 – Send me your questions for the brokers
06:23 – Trading and Flying in real time

Reading a book about trading will only get you so far. In order to learn how to trade correctly for yourself in real time, you need much more. Let’s talk about that and more right now.

Hey traders, it’s Andrew Mitchem here at The Forex Trading Coach with video and podcast number 438.

You need more than just theory from a book

Now, when you read books, you’re only going to get so much information. Sure, they can be good to give you some good background information, some grounding, understanding what to look for and candle patterns, that type of thing. But in order to trade correctly, independently, and in real time, you need something more. And that’s why here at The Forex Trading Coach we offer our clients our live two-hour trading room webinars every week. I hold the European session, and Paul Tillman, who works with me in the U.S., holds the U.S. session the following week.

What our clients get out of our live weekly webinars

When our clients attend those sessions, they get something really special out of all of them. You see, because they’re live, they’re not pre-planned, they’re not scripted in terms of knowing what’s going to happen. We are not covering up trades that maybe don’t work. All those kind of things that you could kind of think elsewhere would probably happen. Because they’re live, they real time, we’re talking about trading, we’re seeing trades, and we’re taking trades. That’s how you can then learn. Because, you have to do this for yourself. You have to put the theory into practise and have chart time and real-time thinking time in order to do this properly. And that’s the beauty of the webinars. Because, we really encourage our clients to interact with us on those sessions. They’re real time so we don’t know what’s going to happen. If we see a trade set up, of course, we go, “Yeah, I’m taking the trade.” We don’t know whether it’s going to be a profitable trade or losing trade because it’s real time.

But, what the client gets out of it is our thought process, our understanding, the mental sort of structure that we go through in terms of analysing a chart and seeing a trade in real time and taking it and why we’re taking it. And that’s the bit that’s invaluable. You see, you can do that and practise that and follow along in real time whilst watching the webinar, and it gets you into that mentality of what to look for, what to do, in order to make yourself a successful and independent trader. Now, sure, we have ways that our clients can follow us and copy what we’re doing in terms of our daily trades, things like that, things that we post on our forum site, but the webinars are just invaluable because they’re all happening right now. You can talk about that, you can discuss it, you can get the whole picture, and that’s the key.

And so, by doing that, you’re going to make yourself a far better trader, by attending those kind of webinars, and seeing or listening to what we are thinking at the time.

Another example from my experience of flying

And I’ll give you an example that I’ve experienced in my life. As you probably know, I fly helicopter. Now, when I learn to fly, I ask my instructor about hovering, because it’s one of the hardest things you can ever do with any machine ever. It’s so difficult to learn how to hover a helicopter. I nearly gave up so many times when I was learning how to hover. It’s incredibly hard. And I wanted to ask my instructor what I needed to do. I was paying a lot of money to him per hour, and it was just not working for me.

He said, “You’ve got to just feel it.” I’m quite numerical. I like numbers and patterns and structure, a little bit why I like trading. And he said, “No, you just got to feel it. You just feel it.” And I was getting more and more frustrated and angry because I wanted to almost like read the book or be told what I’m doing wrong. And I wasn’t getting that answer. I was getting, “Oh, you just got to feel it.” And the reason he said that is a hundred percent correct. The reason you say that is because you do have to feel how to hover. Every situation will be different. The way that the helicopter, the wind, all sorts of different things change. You are actually constantly making adjustments and feeling it. And so, no book can ever teach you that. Yes, you can read books about how to fly helicopter, and you might even watch a video on YouTube or something, but it’s nothing compared with really doing it and feeling it and doing it in real time. And that’s exactly the same as trading and why when you jump onto live webinars like we hold with our clients, that’s the difference. I hope that helps.

Send me your questions for the brokers

One other thing that I want to discuss with you and to get your feedback on is on next week’s video and podcast, I’m going to be interviewing Ben Clay at Blueberry Markets. If you have any questions at all that you’d like to ask to a broker, take this opportunity to send those questions to me, and I will ask on your behalf any questions that you have. I’ll put them to Ben on the interview on the webinar and the podcast for next week. Anything you’ve ever wanted to ask a broker, it doesn’t have to be specific to Blueberry. It can be anything. But if you’ve got specific questions as well for Ben and the Blueberry, anything at all, email me, andrew@theforextradingcoach.com. Just put in the subject line “Blueberry Question,” and I will ask your questions to Ben on your behalf.

It’s a great opportunity for you to find out more about a broker, what they do, how they operate, anything you’re thinking of wanting to know, whether it is account questions, withdrawal, spreads, whatever it is. If you’d like to ask that question to Blueberry, let me do it for you next week on next week’s session. I look forward to receiving your emails about that.

Trading and Flying in real time

And I hope the analogy of the learning to fly and the live webinars resonates with you because it really is so important. Yes, theory is great, but there’s nothing like doing it in real time and that practise of doing that in the market or in the hover, depending on which you’re flying or trading. Both very, very difficult to master, trading and flying, but both incredibly rewarding once you can and you’ve put that effort in and that time and that money and that dedication. You’ll get massive amounts of value from both. I hope that helps. I’ll see you this time next week with that interview with Ben. Bye for now.

Episode Title: #438: Reading a Book Will Only Get You So Far

Click Here To Learn More About Blueberry Markets

Click Here to Learn More About the Course

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#437: How to Easily Calculate Your Position

Nov 28, 2021

How to Easily Calculate Your Position

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#437: How to Easily Calculate Your Position

In this video: u9s2tw5e
00:23 – Most traders do not understand lot/position sizing
00:45 – The way most people trade
01:43 – Each pair pays a different amount per pip
02:36 – I’ve made it easy and quick for you
03:00 – How the heart and the mind affect your trading
05:15 – High reward:risk trading strategy
06:40 – Download the calculator today
06:57 – Are you looking for a good Forex broker?

What lot size or position size should you take on all of your trades? Let’s talk about that and more right now.

Hey traders, it’s Andrew Mitchem here at The Forex Trading Coach with video and podcast number 437.

Most traders do not understand lot/position sizing

Now unfortunately most traders out there do not understand the importance of position sizing or lot sizing. They don’t understand the importance, they don’t understand how to do it, and they don’t really understand why they should do it. But if you don’t understand that, it’s going to make a huge negative effect on your trading. And let me explain what I mean.

The way most people trade

You see, most people focus on making pips and they really don’t understand the importance of low risk controlled trading. And someone would generally place a trade, it doesn’t matter what the currency pair, what the timeframe chart, what the size of the stop-loss is, it doesn’t matter what their own currency account is. They’ll just place a trade at one standard lot per trade, or 0.1 or 0.01 depending on the size of your account. But they’ll just go and place the same lot size on every trade. In fact, most people will just go and place the same stop-loss on every trade regardless of the trade or the market conditions or anything. And when you think about that it’s just utter madness. Why would you do any of those? But that is probably what 90% of all traders out there are likely going to be doing.

Now if you’re listening to this thinking, “Yeah that’s what I do.” Then you really need to listen to this next bit because it’s highly important.

Each pair pays a different amount per pip

You see the issue with the Forex pairs is that each currency pair has a different payout per pip. It depends on what the currency is. It also depends on what your account denomination is. So if you’ve got a US Dollar account, then your payout per pip, let’s say the Euro/US Dollar, will be different to my account that may be in New Zealand Dollars, or someone else’s account that may be in Euros or Pounds or Canadian Dollars. It’s all different. So you really need to understand that.

Now the problem is, for most people that’s just too difficult to work out. It’s like this sort of big calculation that you need to figure out. So most people don’t do that. They’ll just go, oh I’m just going to put 0.1 lots on this trade. And the next trade? I’m just going to put 0.1 lots on the trade. That’s the problem.

I’ve made it easy and quick for you

Now I’ve made it very easy for you. I have a free lot size calculator that works on MT4 and MT5. Just select the right one, by the way, when you download it. It’s freely available on my website. I’ll put a link to it on this video and podcast post so you can find it. If you don’t have it, definitely download it. It is invaluable and you should be using it on all your trades.

How the heart and the mind affect your trading

Now, what you have to think about is this: when you have variable losses, it starts to play with your emotions. The two things in trading that affect you, one’s your head and one’s your heart. You have to control your emotions. Now, the way I trade is I have a maximum risk of half of 1% of my account per trade. So what that means is this: let’s say I had a $10,000.00 account, it could be $10,000.00 or £10,000.00 it doesn’t matter. 10,000.00 something in my account. If I’m risking half of 1%, that means I’m risking $50.00 per trade, or £50.00 per trade. 50 per trade. So half of 1% of $10,000.00 is $50.00.

So that means I know when I take a trade, regardless of the currency pair I’m trading, it could be the Euro/US Dollar, it could be the Australian/New Zealand Dollar, it could be on Bitcoin, it could be on copper, it could be on gold, it could be on the Canadian/Yen, it doesn’t matter. Whatever I’m trading, it doesn’t matter what the stop-loss size is, the currency I’m trading, or the timeframe chart. I know that the most I will lose if my trade were to go wrong is $50.00, or half of 1% of my $10,000.00 account.

Now when you think about that, when you have losses… And let’s face it, everyone will have losses. I have losses, our clients have losses. Everybody will have losses, okay? What you want to do is make sure that your losses are controlled and a known amount and consistent. It’s no good on a $10,000.00 account taking a $500.00 loss and a $100.00 loss and a $5.00 loss and a $300.00 loss. It’s just all over the place. You cannot have trading like that. You have to have controlled, known stop-loss and risk per trade before you even take the position.

Now to get that, what you have to do is adjust your lot size, and that’s where our calculator comes in. Saves you doing all the working out and the numbers and the calculating. It tells you the exact position size or lot size you need to place on that trade. And so that’s the beauty of it.

High reward:risk trading strategy

Now, if you can have like we do a strategy that has high reward to risk trades, in other words you might be making two times your risk, three, four, sometimes we have five times our risk. It means that for your $50.00 loss, if your trade’s profitable you might be making $100.00, $150.00, $200.00, or even $250.00 gain for your risk of $50.00. And that’s how you will make money consistently and long term in trading. Your losses are small, little, controlled losses. Your gains are big.

So you basically step; a few little losses, a few big gains. Make a massive move. A loss, a big gain. Couple of losses, another gain. And that’s how you’re going to make your growth of your account while controlling your emotions in your trading. Because if you can control your emotions, you can control your strategy and the way that you trade. You’re not just interfering and fiddling with a trade because you see it’s a little bit of profit, I’m going to close it. Why do people do that? Why do people always close for a small amount of profit when there’s no need to? But they take the full loss? That becomes the issue. So you’ve got to flip that around. If you can do that, you can do that with low risk and you can do that by adjusting your position size or your lot size to ensure that all your trades are known, controlled, and low.

Download the calculator today

Download the calculator if you have not done so. It is going to be a massive step forward for your trading and to help you, 1) with the ease of it, and 2) with the calculation and the control. This is Andrew Mitchem here at The Forex Trading Coach. Hope that helps.

Are you looking for a good Forex broker?

Lastly, I need to mention about brokers. I get asked about it all the time. If you are after a high quality, really really top service in terms of customer service, reliability, ease of getting your money back out as well, Blueberry Markets over in Australia. Have a look at Blueberry; I’ll put a link to them as well on this video and podcast. There’s also a link on my website. Go and check them out if you’re looking for a really good option to consider a safe place to put your funds, and a really good quality broker to deal with. Blueberry Markets in Australia. Have a look at the link. I can highly recommend them. I’ve been with them myself for years, and we’ve sent thousands of people to them. They are all very pleased with Blueberry. So I’ll see you this time next week for more trading tips and information. This is Andrew Mitchem here at The Forex Trading Coach. Bye for now.

Episode Title: #437: How to Easily Calculate Your Position

Click Here To Learn More About Blueberry Markets

Click Here to Download my Free Lot Size Calculator

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#436: Can You Trade Non-Forex Markets?

Nov 21, 2021

Can You Trade Non-Forex Markets?

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#436: Can You Trade Non-Forex Markets?

In this video:
00:28 – Trading Non-FX pairs
01:02 – Getting into exotics, cryptos, commodities and indices
01:45 – Clients enjoy trading the same strategy but on new markets
02:15 – Trades taken and posted on our sites recently
03:11 – Lots of new opportunities now available
03:38 – The same money management principles still apply

Let’s talk about non-Forex markets. Can you trade them? How do they work? And can you use the same strategy? Let’s talk about that and more right now.

Hey, Forex traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 436.

Trading Non-FX pairs

Now I want to talk about trading non-Forex pairs, because it’s something that we’ve been getting into a lot here at The Forex Trading Coach. And I’m talking about things like indices, commodities, and cryptos. But go back to the beginning: do we trade them? Yes, we do now. But we’ve not done that for a very long time, and the reason is we are The Forex Trading Coach. So therefore naturally we’ve been focusing on Forex pairs because the Forex markets offers us so many great opportunities. We’ve got different currency pairs, different timeframe charts, and it’s worked absolutely fantastically.

Getting into exotics, cryptos, commodities and indices

Now a little while ago we’ve gone into a few more of what we call the exotic pairs, things like the Swedish Krona, South African Rand, Singapore Dollar. Some of those more sort of minor exotic pairs. And they still do work, there’s great opportunities on them. The downside is though that some of those exotic pairs tend to have quite wild and wide spreads at times over the day when the market’s not that active. And that can become sort of negative for trading some of those more exotic pairs.

So what we’ve done is as more and more of the MT4 and MT5 brokers around the world have offered a larger variety of markets, we’ve got into those as well.

Clients enjoy trading the same strategy but on new markets

And a lot of our clients are loving trading these different markets, because the thing is the strategy that we trade and teach works across them as well. And why does it work? Well, because it’s based on sound principles and price action and candle patterns and all the other things that we put together, support resistance. And the beauty is it doesn’t really matter what Forex pair you trade or what market you trade, the strategy works. Because the pattern is the pattern is the pattern. And you know, give you some examples.

Trades taken and posted on our sites recently

This week I’ve taken a trade, and we put all of these trades I’m about to mention have been on our membership site and forum site, I’ve got a trade on the US 200 on the index there as a buy trade on a daily chart. And that’s worked absolutely beautiful. We had last week trades on the ASX 200, the JP 225 that was this Monday. Last week HK Hong Kong 50. We’ve had trades posted just yesterday on six hour charts on our forum site on UK and US oil. Today, I’ve taken a trade on gold, and last week we had trades on copper, Bitcoin, and Ethereum. So it’s just in the last two weeks.

So it just shows the opportunities out there. And that is because the strategy works because it’s good, sound principles of how to trade, how to read charts.

Lots of new opportunities now available

And the beauty that I’m finding from my point of view is it’s suddenly opened up all these extra markets. And if we’re trading just once, twice a day, it doesn’t really take an extra couple of minutes to scan through gold and silver, a few commodities, a few indices, and a few cryptos. You can do it all in maybe two or three minutes extra, once maybe twice a day and that’s it. That’s the beauty of it.

The same money management principles still apply

Now, it still comes back to the same principle. All of our trades are low controlled risk and known risk, and again I go back to what I say all the time, for me personally I never trade more than half of 1% of my account on a trade. When I split my positions like I do most of the time with a limited order and a market order, I’m trading a quarter of 1% at market, quarter of 1% at a retracement order. But a total of both trades get filled and both trades get stopped out half of 1% loss. So on a $10,000.00 account, the most I’m losing is only $50.00. However, because of the way that we trade and the way that we use our stops and our profit targets, including on the cryptos, the indices, and the commodities, our reward to risk is still extremely high. So we’re making between a two and a five, sometimes up to a 5-1 reward to risk. So low controlled risk, high gains per profitable trade, but you can trade any market that suits you.

So I hope that helps. Something a little bit different, but we’re getting more and more into these markets. We’re really excited by it as well, by the way, because we’re seeing great trading opportunities on them as well. So if the Forex markets are just a little bit slow maybe sometimes, and that happens with all markets, we now have the option at looking at some slightly newer markets as well. Still trading well, still making great money. If you’d like to know more, send me an email andrew@theforextradingcoach.com, and you can find us on our website, www.theforextradingcoach.com. I’ll see you there. Bye.

Episode Title: #436: Can You Trade Non-Forex Markets?

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#435: How to Scan Through Your Charts Quickly

Nov 7, 2021

How to Scan Through Your Charts Quickly

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Click Here to Signup for the Upcoming Black Friday Sale

#435: How to Scan Through Your Charts Quickly

In this video:
00:26 – Today’s Topics
01:00 – How to quickly scan through your charts
01:55 – A candle pattern off a Bollinger band
03:03 – A Continuation trade
04:31 – When to scan your charts
05:14 – Who would you suggest as a broker?
05:55 – Register for our Black Friday Sale (it’s 1 week early on Friday 19th November)
07:07 – Don’t forget to share this video and podcast

I’m going to share with you some tricks and secrets of how to scan through your charts really quickly, to save yourself time on the change of a candle. Let’s talk about that and more, right now.

Hey, forex traders, it’s Andrew Mitchem here. I’m the owner of the Forex Trading Coach.

Today’s Topics

And I’m going to explain to you how you can look through your charts really quickly and to identify potential new trade setups. More about that shortly.

At the end of the video I’m also going to explain about our upcoming Black Friday sale, which we’ve got in a few weeks time. So if you’ve been looking at joining us, that could be a great opportunity for you to save a fortune on joining us with the crazy low prices that we’ll be offering for Black Friday. More about that shortly though. So back to the trading.

How to quickly scan through your charts

So a question that a lot of people have is they say, “How can you scan through charts really quickly and identify high probability trade setups?”

So a question like that came through from Mark this week and I said, look, I’d cover that on a video and podcast for him. And for me, it’s quite simple, the market can either move up, down or sideways. It cannot really do anything else. And with my strategy, it’s also relatively simple. So we’re either looking for reversal trades or continuation trades. And that’s it really. It really is as simple as that. There’s two different ways of trading. And to help me identify what part of the chart the price is in right now, and whether it’s likely to be a reversal or a continuation trade, I use Bollinger Bands. Standard Bollinger Bands have an upper band, a middle band and a lower band.

A candle pattern off a Bollinger band

And if I see a candle pattern and setup that I’m looking for, that’s coming off either the upper band or the lower band, then for me, that’s a reversal signal.

And what I mean by that is let’s say the price is near the upper Bollinger Band and you’ve had a good, strong up trend, and then you see the reversal signal. So like a bearish outside bar or engulfing candle, and it looks like the price is then going to drop. If it comes off that upper Bollinger Band area, after a prior trend, then quite likely the price is going to reverse. The opposite of that being if you’ve had a good, strong down trend and then you see a good strong bullish candle off the bottom Bollinger Band, that’s a likely reversal. Now, not every time you get that, it’s going to be a trade setup. We’re looking for other things like prior exhaustion bounces a round numbers, pivot points, trendline breaks, all the other things that we look for. But just in terms of identifying what part of the chart you’re in right now, a Bollinger Band can be an extremely powerful and useful, easy to see tool. So, really scanning through charts instantly, that will help you.

A Continuation trade

If, for example, you see a pullback from the upper band to the middle band, and then a bullish signal, that is a continuation trade. Likewise, if you see a pullback from the bottom Bollinger Band back towards the middle Bollinger Band, and then the bearish candle, that is a likely continuation back down again. So reversals and continuations are great ways of trading the market. It means you only need to look on the close of a candle. And if you see that right setup near either the bottom or the top bands, reversal signals, somewhere near the middle Bollinger Band, continuation pattern. Instantly, that means I can scan through my charts and go, no, no, no, yes. Potential trade, write it down, come back to it. No, no, no. Yes. Things like that, just real simple way of doing that.

And then all you need to do is you can use your strength and weakness analysis, or you can come back to the trades that are showing potential setups, and then you can go and analyse them slightly more in terms of other barriers for the profit target not to be hit. Is there some way to protect the stop loss? All these type of things that we then look at, but you can very quickly dismiss, probably 95% of the charts that you see, because there’s nothing setting up. And then you may have a few trades that you can go back and analyse a little bit further.

So that to me is an instant, quick scan through my charts on the close of a candle.

When to scan your charts

So I do that once week, the beginning of each Monday on the weekly charts, once a day on the daily charts, twice a day on the 12 hourly charts. And depending on when you’re around, maybe two times, sometimes three on the eight hours or six hour charts.

You can go right down in the European session on our forum site, we always talk about two hour charts, one hour charts. When I trade live on our weekly webinar, I’m trading on anything from one hour charts up to 12 hour charts. So it depends on what timeframe suits you, but very simple on the close of a candle to scan through multiple timeframe charts, different currency pairs, and quickly analyse what’s setting up or what is not. So I hope that helps with that.

Who would you suggest as a broker?

When it comes to trading and you’re looking for a broker, because all the time people say to me, “Hey Andrew, what’s a good broker?” A really good broker that I can strongly suggest you consider is Blueberry Markets. Now, of course, it’s up to you where you place your funds and it’s up to you to do your due diligence. And Blueberry Markets will be one of those brokers that I strongly consider you take a look at. Write to them, see how good they are with their customer service, do some reviews online. But I’ve been with them for years. I personally met Dean and Ben over in Australia, and some of the other team when I was there a few years ago. They’re really good guys, very good brokerage to consider.

Register for our Black Friday Sale (it’s 1 week early on Friday 19th November)

And finally, as I mentioned at the beginning, our Black Friday sale. I’m going to put a link on here where you can register your interests in our upcoming Black Friday sale. It’s going to be something that’s just going to completely blow you away with what we offer. We do this every year, of course, for Black Friday. It’s just one of those times of year where it’s basically this completely stupid, crazy, low, giveaway price to get access to the course.

So, if you’ve been thinking about joining us, you’ve been thinking about joining this massive community of great trading, like-minded people that we have, and don’t forget we’ve been doing this nearly 13 years. We’ve got over 3,200 trading clients in 98 countries at the last count. If you’d like to join this amazing community of people, all trading the same system, all there helping each other out, day after day, it’s a good opportunity for you. So, I’ll put a link here for you to register your interest, and after that, we’ll send you more information about how you can join us for the Black Friday sale.

Thanks again for watching or for listening. Any questions, send me an email, andrew@theforextradingcoach.com.

Don’t forget to share this video and podcast

Anybody you know who’s interested in trading, feel free to share this video or podcast with them, and I’ll see you this time next week.

Bye for now.

Episode Title: #435: How to Scan Through Your Charts Quickly

Click Here To Learn More About Blueberry Markets

Click Here to Signup for the Upcoming Black Friday Sale

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#434: How Much Money Do You Need to Invest in the Forex Market

Oct 31, 2021

How Much Money Do You Need to Invest in the Forex Market

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#434: How Much Money Do You Need to Invest in the Forex Market

In this video:
00:24 – How much should I invest?
00:50– When I started trading
01:25 – You don’t need a lot of money but you do need to learn how to trade
02:30 – Take a look at Blueberry Markets
03:20 – How do I make a living from my trading?
04:07 – Trading with a Prop firm
04:50 – Other ways to earn income from your trading
05:50 – Get onto one of my free webinars to learn more
06:33 – Feel free to share this video and podcast

How much money do you really need to invest in the Forex market to make it worthwhile? Let’s talk about that and more, right now.

Hey traders, Andrew Mitchem here, the owner of The Forex Trading Coach with video and podcast number 434.

How much should I invest?

I got asked a question this week by a guy in the US and he said to me, “Andrew, how much money should I really need to be investing into the Forex market to make it worthwhile? To make my time worthwhile to do this?” And it’s an interesting question, because most people think you need a large amount of cash in order to be a good trader, in order to make it worthwhile.

When I started trading

And when I started trading some 17 years ago, I thought I would need like hundreds of thousands of dollars. And because I lived in New Zealand, I thought that I would need to put like a $100,000.00 on the New Zealand/US dollar and wait for it to rise or fall, and let’s say it was at 70 cents wait for it to rise to 75 cents, take that money out and then go and do the same thing again. That’s what I thought Forex trading was. And I think a lot of people do the same thing; they think you need a large amount of money, large amount of capital, in order to make any significant gains.

You don’t need a lot of money but you do need to learn how to trade

Now, the great news is the reality is far from that, it’s the complete opposite. You don’t need a lot of money, but what you do need to do is learn how to trade properly. With that, you need to realise that there’s two things that affect you with your trading: one is your head, and the other’s your heart basically your emotions. And if you can control your emotions by having very low-risk trades and high reward to risk trades, things you hear me talking about all the time, the great thing about the Forex market is you use leverage. With leverage, you only need small movements but you need to have good, consistent, steady gains with low risk and low draw down. So small losses lead, reasonably large gains. That’s the key to making your trading work. You need a strategy to actually be able to do that.

Then when you look to live with real money, I suggest somewhere between $1,000.00 and $5,000.00 or pounds depending on where you live in the world. And there’s lots of other ways that you can make money through your trading, and I’ll talk about that shortly. But one thing that I would strongly suggest if you are at that stage where you’re ready to go to real money to a live account.

Take a look at Blueberry Markets

Have a look at Blueberry Markets over in Australia. They’re a great broker, highly successful brokerage team, great people. You will not find better customer service out of a broker. I challenge you to find a better customer service anywhere. They’re fantastic. Really look after their clients. Decent, honest broker. Good, tight spreads. Regulated, everything that you need. So unless you’re in the US and I don’t think you can open an account with them, there may be a few other countries around the world, but pretty much all other countries can open a live account through Blueberry Markets. Check them out, I’ll put a link here as well.

So once you go live, and you understand the emotions of trading on real money… Because losing money hurts. You get great emotions in a positive way when you have some gains.

How do I make a living from my trading?

But you’re thinking, okay how can I make a living out of $1,000.00 to $5,000.00 on my account? Even if I made 100% in a year, I might be making $5,000.00. I can’t make a living, Andrew. That’s not an issue. What you can do then is you can do what a lot of our clients use is they use prop firms. A prop firm is where you start with a relatively small amount of money, of someone else’s money, another company’s money, on a profit share basis, using their rules, draw downs, et cetera. That’s where you need assistance like ours that has good steady returns with low risk and low draw downs. What you can do is you can build up to accounts; some of them are in the millions of dollars, I believe. But I know a lot of our clients are trading prop firm accounts in the hundreds of thousands of dollars.

Trading with a Prop firm

Now let’s say, for example, you’re at $100,000.00 with a prop firm and you’re a 60-40 revenue share, so you keep 60%, they keep 40%. And let’s say you make 10% in a month. You’re not going to do that all the time, but for round numbers let’s call that 10% in a month. That means you’ve just earned $6,000.00 in that month for knowing how to trade, and it’s on someone else’s money. Well, you start doing that on several prop firms and then you’re proving to them that you can trade and you move up to $200,000.00 or $300,000.00, whatever it might be. And you can see there how you can start to gain quite substantial incomes through not even trading your own money.

Other ways to earn income from your trading

Now on top of that you might want to invest some of that back into your own account. You could start trading for a few friends and family possibly, of course look into that legally to see what the regulations are wherever you live. But you can sell trading signals, you can have copier accounts, you can do all sorts of things. But you’re just trading once. You’re only trading on one account and behind the scenes you can have the set up to copy on other accounts all these kind of really cool features. But it’s no extra work for you, whether you’re trading on a $1,000.00 account or a combined million dollar account.

But the thing is, the question at the beginning was how much do I need to invest? Well, you need to invest your time and some money to learn how to do this. But once you can do that, your actual own real money that you invest doesn’t have to be that big for some quite incredible returns. So there are ways to do this, it all comes back to knowing what you’re doing, knowing how to trade first. And that’s where we can step in and help you.

Get onto one of my free webinars to learn more

So each week, if you’ve not been on my free webinars we hold a free webinar for new traders and a free webinar for the more experienced or frustrated pulling your hair out ready to give up type trader. There’s lots of those out there I know. So it doesn’t matter which you’re on, pick the right webinar for you. I’ll put again a link to both on this post here. Jump on to one of them, look what we do, how we can help train you, teach you. Come on board with our community and make this work for you. So I hope that answers the question. I hope that surprised you as well in a good way, that you don’t really need a great deal of your own money to do very well out of this. Again, it comes back to the power of knowledge. That’s really what it is. And I hope that helps.

Feel free to share this video and podcast

Feel free to share this video and podcast with anyone who you think may be interested in getting into the wonderful world of Forex, or people that you know that are just frustrated, it’s not working. We can definitely help. This is Andrew Mitchem at The Forex Trading Coach, I’ll see you this time next week. Bye for now.

Episode Title: #434: How Much Money Do You Need to Invest in the Forex Market

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#433: It Never Rains but It Pours

Oct 24, 2021

It Never Rains but It Pours

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#433: It Never Rains but It Pours

In this video:
00:23 – Common phrases and trading Forex
00:55 – Trading becomes boring, and you make mistakes
01:27 – 2 perfect examples from this week’s trading
02:37 – This week’s Daily trades
03:24 – Just be patient and wait for the setups
04:07 – Trade when the conditions are good
04:52 – Take a look at Blueberry Markets
05:36 – Get onto one of my free webinars to learn more

You’ve heard the saying, “It never rains, but it pours.” The same happens in trading. Let me explain what I mean right now.

Hey traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 433.

Common phrases and trading Forex

I want to talk about a couple of analogies you may have heard of. You’ve heard the phrase, “It never rains, but it pours.” You’ve heard the phrase, “May hay while the sun shines.” They are exactly applicable when it comes to trading. What I mean by that is you have to wait for the right trading conditions. Now as traders sometimes that can be our downfall, and it’s a big mistake that so many people make and fall into that trap.

Trading becomes boring, and you make mistakes

You see when you’re not trading it’s pretty much boring. You’re not doing anything, and the issue then becomes is you start breaking your rules. You start forcing things to happen that you should really do. You start taking B-grade set ups, simply because you want to take something. It’s very hard to force yourself not to do that. But if you can get yourself to trade the conditions of when the high quality trade setups show, you will without doubt do so much better from your trading.

2 perfect examples from this week’s trading

Now just this week, I’ve got two perfect examples to share with you. So last night, Thursday night my time, I held our live weekly client’s webinar; a two hour live session where we trade live. I trade the European session. The following week Paul Tillman trades the US session and then back to the European session with me the week after. So last night, not a lot happened for the first hour and 50 minutes. Now we were covering previous trades, we were discussing trades that a few people had open and some very good trades. We were showing some good weekly and monthly chart trades. We had lots happening, but nothing really was going on live in the market.

Then leading up to the end of the session where we look at the 12 hour and six hour and four hour and two hour charts, we took one six hour chart trade and three on the 12 hour. Two of those hit profit already, and two are still open and in excellent profit. So nothing happened in terms of live real trades in the market for almost all of that session until then end, and then there was lots happening.

This week’s Daily trades

This week on the daily charts, we’ve had the same thing. Up until Thursdays, from Monday to Thursday, we posted just one trade. Now, most days we trade between about one and three daily charts. But up until Thursday, for four days of this week, we posted just one trade on the dailies. We had a really good weekly chart trade that hit profit, but only one trade on the daily charts. That was on oil as well. So we’ve had no Forex pairs for the first four days of this week. Today, Friday, we are the 22nd of October. We have posted 11 trades on the daily charts; one on Bitcoin as a crypto trade, as a sell, and 10 Forex pairs.

Just be patient and wait for the setups

So the point being is just be patient. Just wait for the setups. The setups will come, it’s just you don’t know when. So that’s why you have to be patient. If the trades are not there, don’t force anything, don’t take anything. Likewise today, and going back to the “It never rains, but it pours,” today is one of those days. It took us so long to write the daily trades up today with all the reasons why we’re taking the trade, the exact entry, the exact exit, et cetera and then actually placing the trades. 11 trades were placed on the daily chart trades today.

Trade when the conditions are good

So, “Make hay while the sun shines.” It’s a true phrase. When the conditions are right, just get out there and do it and make it and profit from it. If conditions are not good, don’t take them. And if you can overcome that mental hurdle and obstacle in your trading and learn to have patience and learn to wait, then… So that’s all about waiting, but also don’t procrastinate. So when you see the conditions, get in there and take the trades. Don’t go, “I’m not sure, I’ve only taken one I don’t want to take too many this week.” Don’t think that. If the trades are there, you take the trades according to your strategy of course. So I hope that helps. Feel free to share this video with anybody who you think may be interested in trading.

Take a look at Blueberry Markets

One more thing: don’t forget of course Blueberry Markets. Wonderful broker, lots of people are going there now. A lot of people watching these video and podcasts and see me talking about Blueberry… I’ve had a couple of phone calls just the week from people saying, “Hey look. I’m not in Australia. Can I trade with Blueberry?” Yes, you can. You can trade with Blueberry in a lot of countries around the world. Really decent broker. I’ve used them for years. I know them, met them in person back in those days. Remember those days when we were allowed to travel and go on aeroplanes and go to a different country? Back in those days I met Ben and Dean over in Australia. Neat guys, great company. If you’re looking for a decent broker, consider Blueberry Markets. I’ll put a link to them on this video post and podcast.

Take a look at Blueberry Markets

And by the way, if you’ve not been on one of my free webinars, I have webinars each week designed especially for new traders, and another one especially for the more experienced trader. Just pick the webinar time that suits you the best start time, or you can choose to watch a previous replay if you’d like to watch one straight away on demand. I’ll put the links to both of those two sessions on here as well. So I hope that helps. Be patient in your trading, wait for the right setups. When they come, take them profit. Do well from the market. That’s how you trade. I’ll see you this time next week. This is Andrew Mitchem at The Forex Trading Coach. Bye for now.

Episode Title: #433: It Never Rains but It Pours

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#432: Becoming Your Own Boss

Oct 17, 2021

Becoming Your Own Boss

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#432: Becoming Your Own Boss

In this video:
00:30 – I’ve received a lot of emails from people who might be losing their jobs
01:17 – A lot of new rules around the world about mandates
02:02 – You should consider trading Forex
03:22 – I’m serious about trading and how to I made a decent return?
04:54 – What the prop firms want
06:22 – You need to know what you are doing first
06:42 – The mini course will re-open in 1 month from now
07:35 – It’s only going to get worse for many people

I want to talk about why you should maybe look at considering being your own boss, and learning how to trade Forex properly. It’s very topical right now and very important. Let’s get into it right now.

Hey traders, Andrew Mitchem here, the owner of The Forex Trading Coach with video and podcast number 432.

I’ve received a lot of emails from people who might be losing their jobs

Came outside today, it’s a beautiful day out here. I want to talk about… I’ve just been receiving a lot of emails. You might think it’s a controversial subject, you may not. But I think it’s important to discuss it because not many people are. It’s all about what’s happening around the world right now with COVID injections, vaccinations. Not only that, it’s more the knock-on effect of what’s happening with so many people with these jobs being mandated that people need to be vaccinated. I’m not here to debate the vaccine; I’ve got my own opinions. But as a trader, I think it’s important because so many people have been emailing me saying, “Andrew, I’m potentially losing my job.”

A lot of new rules around the world about mandates

Here in New Zealand especially, and it sounds like Australia as well, a lot of rules are coming in that people will be losing jobs if they’re not double vaccinated.

Like I said, I’m not here to be pro or against it. What I am here to say is that it’s probably the choice that people are finding that they’re going to be without that’s for me probably more the issue. The choice to do what they want and how it affects their jobs. So that comes back to why I’ve probably been receiving so many emails over the last week or two as it’s becoming more and more prominent. And it comes back to…

You should consider trading Forex

I’ve said to these people you’ve got to consider something like trading. But don’t just do it just because it’s a quick fix, because it’s not a quick fix. Don’t think that you’re going to sit at home and be lazy all day and get up when you want. It’s not that at all. You have to work hard at it. It’s hard. There’s ups, there’s downs, there’s good times, there’s not so good times. Like anything. But it does allow you to have some more control and freedom and to be your own boss.

I think that’s the point that a lot of people around the world right now that people are picking up on, the extra value of trading. Getting away from some of the more traditional lines of work where you are told what to do and when to do it. I think that’s one of the beauties that trading offers. Like I said, it’s not easy. It takes effort, it takes hard work, it takes dedication. If you think you’re just going to waltz into trading and suddenly become a multimillionaire by this time next year forget it. You’re in the wrong choice. Or certainly don’t come knocking on our door, because we’re not prepared to assist you if that’s your mindset. You’ve got to have the correct mindset to make this work properly and put that hard work and dedication upfront.

I’m serious about trading and how to I made a decent return?

But leading on to that, people have said to me I want to sort of get into this a bit more seriously now. I’ve kind of been forced into it, or things are changing around the world. I want to look at this trading a bit more seriously. And a lot of people come to me and they go, well the problem is my account’s not big enough. How on earth do I look at giving up my job if that’s what it comes to? And trading properly?

Well, to me it’s always been the same story that I’ve got back to people. It’s that you have to learn how to do it first. You have to learn to run before you can walk. Don’t expect to be an expert overnight. You have to learn upfront to do this properly. But then, when you can, the actual size of your account, how much money you’ve got to invest in this, really doesn’t matter too much. Leading on from last week’s video and podcast where we talked about prop firms briefly. Again, I’m not here to promote any particular prop firm. I’ve got no affiliation with any prop firm at all. All I do know is that I’ve got a lot of clients now who do know how to trade properly and have said look, my account’s not big enough to really get anything out of this too much now they know how to trade. Yes they can grow their account and maybe they can add some funds to it.

What the prop firms want

But these prop firms, they’re after people exactly like the people… The strategy that I’ve taught and used for 15 years now. Been teaching it for 12. What we’re after is some good common sense, low-risk trading. Low draw downs, no one wants stupid, ridiculous draw downs. No one wants gamblers. In fact, I had a guy this morning that said, “I’ve got $250.00 can I make $250.00 every week?” I said no, you can’t. I don’t want to know. We’re the wrong people if you think we’re going to help you gamble your money and double your account in a week, go somewhere else.

But you know, the prop firms. We had a client I was talking to last week who’s now managing over $100,000.00. Well, you think about that, that’s just one prop firm. And he’s only relatively new at this and he’s up to $100,000.00 already. He’s making 10% per month and he’s on a 60-40 revenue share. He’s on $6,000.00 extra per month than he had a few months ago when he started and joined us. The thing is that you can do that… If you prove you can do that, you can make that as passive income month after month. You can get to a bigger account with the same firm. You can open accounts with other firms. You can sell trading signals. You might be able to manage funds for people. There’s all these things you can do. But none of it requires any real extra work because you’ve actually taken the trade just the one time. It just gets split over multiple different platforms.

You need to know what you are doing first

But it all comes back to you need to know what you’re doing first. So there are many, many ways around this where you can get to do this properly and do this on a more serious level and get a really good substantial return from it. But it’s about educating yourself first. So I hope that helps.

The mini course will re-open in 1 month from now

We’ve had great success with our mini course that’s been launched this week. We’ve now closed the mini course. We’ll look at opening it up in about a month or so. I’ll send you more details if you’re interested in that. If you’re interested in the full course, that’s probably the place you really need to be if you want to do this properly.

If you’re interested in knowing where to put your funds, one of the best brokers I can recommend is Blueberry Markets over in Australia. I’ve been dealing with Ben and Dean over there for years now, ever since they set up. Neat bunch of guys there. The whole team are really good. Customer service is outstanding. Great platform. MT4 and MT5. Good spreads. Just really decent bunch of guys if you want to put your funds in a good reliable place. So it’s Blueberry Markets, I’ll put a link to them on this post as well.

It’s only going to get worse for many people

So I hope that helps. Like I said, I don’t want this to be a controversial post in any way. It’s not that. Don’t take it the wrong way. If you think I’m anti something or not or pro something, it’s not that at all. It’s just that there’s obviously a lot of people around the world now that are getting very concerned, and this offers a potential change in direction for them. Like I said, my inbox is getting just inundated daily with very concerned people and it’s probably just going to get worse, to be honest, as these mandates come in around the world in more and more industries. So I’ll just say, just look after yourself to start with. Consider trading if it’s for you. It’s not for everybody, but if it’s for you you know where to find us and we’re here to help. Thanks for watching. See you this time next week.

Episode Title: #432: Becoming Your Own Boss

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#431: Client Makes a 40% Account Gain in September

Oct 10, 2021

Client Makes a 40% Account Gain in September

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#431: Client Makes a 40% Account Gain in September

In this video:
00:31 – This week’s content
00:54 – A client makes a 40.05% live account gain in September
04:23 – Trading at a Prop firm to make great passive income
05:35 – Our TFTC Mini Course is now live
07:01 – Take a look at Blueberry Markets if you want a good broker
08:30 – Share and Like this Video

I want to explain how one of our clients made an incredible 40% gain on his live account in September with just a 6.3% drawdown. Let’s talk about that more right now.

Hey, folks, traders. It’s Andrew Mitchem and I’m the owner of the The Forex Trading Coach. This is video and podcast number 431.

This week’s content

Lots to cover on this week’s video and podcast. We want to talk about the guy who’s just made 40% on his account in September. I also want to introduce you to our new mini course that has just gone live on Facebook and give you an opportunity to join that for this week only with a 50% discount for new people onto that course.

A client makes a 40.05% live account gain in September

But let’s start with the exciting news that I following on from last week’s video on podcast about the client called Brett, who is in South Africa. He made a 40.05% account gain on his live account, quite extraordinary. But I’ve been through all of his trades. They’re actually opened here behind me, sent me a screenshot of his MT4 account, all the trades, the profits and losses. I went through them and the biggest drawdown he’s had there was a 6.3% drawdown, quite extraordinary. Very low controlled risk.

He said to me he only trades once, sometimes twice a day, and that’s the 5 PM New York close of day, where he looks at the beginning of the week the weekly charts each day of the daily and the 12 hour charts. So that’s going to take him what, 10, 15 minutes once a day. Then a few days in the week, generally Tuesday, Wednesday, Thursday, he’ll look at the 5 AM changeover as well. So he’s looking just twice a day, absolute maximum half an hour per day and he’s made a massive 40% gain.

Now, he’s mentioned when he emailed me a couple things that have just really changed things for him. Number one, he did some one-on-one tuition with Paul Tillman. Paul has been working with me for quite a number of years. He teaches our clients one on one online. He also holds the live U.S. webinars for me every second week and he also moderates the forum site. An incredible trader, fantastic coach, great way of explaining everything. Brett’s taken some tuition with Paul and he said that was just fantastic, money well spent just to get to that next level.

He’s also using our Place Fibo Order Script, which is a script for MT4 and MT5 that he literally drag onto the chart. It places your entry and exit levels with retracements, profits, et cetera, controlled risk. Makes placing a trade absolutely simple. No calculating lot sizes, no worrying about does this stop in the right place, or if you move it, do you move your position size or anything like that. It just does everything for you. It’s a fantastic script.

He also mentioned the value that he has placed in our interactive videos that are on our membership site. So our interactive videos are videos where one of our clients, Nick who lives over in Dubai has made them for us. Nick’s made these videos in realtime when he’s seeing a trade setting up and then you have to go through the video and you have to basically select the right answers of the questions when the video pauses in order to progress through the video. So it was almost like taking trades in realtime live, looking for the pros and cons that we’re looking at and then progressing through the video.

There’s a lot of them on our site from different timeframe charts. Brett mentioned how incredibly valuable they are. The last thing he mentioned is the forum site and how much he’s getting out of that by interacting in realtime with like-minded traders or talking about the one strategy. So put all that together with these low risk, the just once, twice a day trading, when you think about that, to be able to have very low controlled drawdown of to 6.3% but a 40.05% gain in the month, quite extraordinary. So well done Brett and would love to see what your October figures come out like as well.

Trading at a Prop firm to make great passive income

So talking about great trading performance, we held a live webinar last night. Had some awesome feedback. One of our clients, Brian over in the UK, he was telling me how well he is doing on a prop firm. We got talking about that, about what a great way if you have a strategy with low risk but high reward to risk trades and you can make good, consistent gains with low drawdown, that’s exactly what those prop firms are looking for. He’s already trading six figure accounts. He said it all comes down to the quality of the strategy that we’ve taught him to be able to do that and to meet the criteria that the prop firms are looking for.

So if you are out there going, “Well, my account’s quite small. I don’t know if I’m going to make any money out of this.” Forget that. There are so many other ways that you can make money from trading, from selling signals or going onto prop firms like Brian’s done. The size of your actual live trading account doesn’t really matter. The thing that does matter is can you trade or not, can you trade properly with controlled risk. If you can do that, which is what our strategy teaches you, there are just a multiple other ways of gaining passive income through your trading without any extra work. That’s the beauty of it. You using someone else’s money. So that’s that one.

Our TFTC Mini Course is now live

Third thing I want to cover, our mini course. We’ve had massive demand from people saying, “Look, I’d love to get just a small version of your full course,” whether they feel that they cannot afford the full course or whatever it might be, but they want something a little bit sort of quicker and a little bit sort of more, I suppose, social media based. We’ve put our very mini course. It only contains my daily trades and we’re going to do a live video, interaction video once a week and I’ll make a video with a specific tuition there once a week as well.

It’s all based on Facebook and it’s just a fraction of the normal course fee. Doesn’t contain everything of course, but it’s going to contain enough to get you really into a good position and you can follow my daily trade suggestions on that. For this week only until Friday, we are offering a 50% discount on that. After that, it’s going to be back up to its full price from there onwards. But if you want to take advantage of that, and by the way, the price that we’re offering, it’s just a tiny amount for what you get.

But not only that is, if you start now this week, we’re going to honour that price forever as long as you want to stay on that mini course, regardless of what the price for everybody else gets to. So if you want to take advantage, now’s your time to do that.

Take a look at Blueberry Markets if you want a good broker

Lastly, I’ve always getting asked, like multiple emails per week, “Andrew, what’s a good broker? Someone that doesn’t like sort of hunt my stop loss, someone I can trust my funds with, someone that’s going to look after me.” It’s the same thing I say every week, have a look at Blueberry Markets, consider them. Look, they’re not the only broker out there.

There’s many brokers out there, but if you want one that we’ve just had a great relationship with, sent hundreds and hundreds, probably thousands of clients and non-clients also, people that have opened with them over the years and the feedback’s always the same. It’s always, “Wow. I wish I did this sooner. I wish I’d got rid of my current broker and went to Blueberry before now.” All those type of comments. So look, Blueberry Market’s a very, very good option for you to consider. If you’d like to know more details, I’ll put link to Blueberry Markets on this post as well.

So that’s it for now. Don’t forget, trade results, what can be achieved with low drawdown with our strategy. Think about maybe something additional, not just your own account size like a prop firm, but only ones you can trade. Have a look at the link I’ll put here for our short, small minicourse on Facebook. That’s live right now when you watch this video and take advantage of the early bird offer and consider Blueberry Markets if you’re wanting yourself a really good, secure Forex broker.

Share and Like this Video

That’s it for now. I’ll see you this time next week. Don’t forget to share, like this video, send it to people who you think are interested in trading properly. I’ll see you next week for more trading information. Bye for now.

Episode Title: #431: Client Makes a 40% Account Gain in September

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#430: Look Left, Look Right and then Look at Your Profits

Oct 3, 2021

Look Left, Look Right and then Look at Your Profits

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#430: Look Left, Look Right and then Look at Your Profits

In this video:
00:25 – How looking left and right will make you safer
00:58 – Don’t only look to the right
03:23 – Blueberry Markets receive great feedback
04:11 – Client makes +40% in the month by risking just 0.5% per trade
05:31 – Please share this video

When you’re trading, you need to look left, then look right, and then look at your profits. Let’s talk about that more, right now.

Hey there, traders. It is Andrew Mitchem here, the owner of the Forex Trading Coach, with video and podcast number 430.

How looking left and right will make you safer

And I want to talk about looking left, then looking right, and then looking at your profits. What do I mean by that? Well, as a child, we’re always taught by our parents, aren’t we, to look left and then look right before you’re crossing the road or anything like that? And it prevents you from having problems. And in trading it’s exactly the same, yet nobody does it, or very few people do it. Our clients do it because we teach them how to do this. And we talked about this on a correspondence with all our clients just this week, and we had really good feedback. So I wanted to share this whole concept with you.

Don’t only look to the right

And in your trading, most of us look at the right-hand side of the chart, because that’s where you take a new trade from. You’re looking at the price level. You’re looking at the candle pattern, maybe whatever indicator you’re using, but most people look at the right-hand side of the chart. But what a lot of people don’t do is they don’t look then across to the left-hand side of the chart and see what’s already happened, because that can give you an even higher quality trade signal, or it can prevent you from taking a trade that may look okay, but has some obvious previous price action back to the left-hand side, that should make you not take that trade.

Now, when you look back to the left or right, you’re looking at support and resistance levels, looking at swing highs, where’s the price previously bounced at? Have I got enough reason here for my trade to be able to get in a buy trade up to its profit target? Are there any levels back to the left-hand side or ran numbers, previous areas where the price has hit that might actually prevent my price or my trade from getting to its full profit target? Likewise, you can use price action back to the left, to look at swing lows, let’s say, or swing highs, and now we’ve come and bounced at that level and formed our bullish candle, looking for our by trade. So again, you’ve got a reason why your setup’s good. You’ve got a reason why your profit target should be good to get to your profit target, but also you can use that same principle back to the left. Look at previous swing highs and lows and ran numbers to see, have you got any protection for your stop loss?

Because the trade’s not just about seeing the good setup, it’s about saying, well, this may be a good setup, but it could take you out as a stop loss first and then go and hit your profit target. Of course that’s no good. So what is in the favour of this trade in terms of our stop loss being protected, to allow the trade to develop over time, to then get to our profit target. So all these things you can use. So looking left and looking right, is a great habit to help you becoming a good, successful profitable trader, looking left and looking right and forgetting to do that can get you hit by a bus. So make sure you do it.

Look, the reality is in trading, just so many people don’t do it. They clog up their charts with too many lines and indicators and half the people don’t even look at the price. But look left and look right. You look at what’s previously happened and what is happening right now. It will massively help you. Two other things I want to mention.

Blueberry Markets receive great feedback

One about Blueberry Markets. We’ve just continued to get such great feedback about Blueberry Markets. You’d note over the last couple of months, I’ve mentioned them on these videos and podcasts because they are just a really, really good broker. Now you’ve got choice to go to whichever broke you like and do your due diligence. Just really important that you do that. But if you just want the feedback that I’m constantly getting from so many people, right around the world, just consider Blueberry Markets as an option, if you’re looking to set up a new MT4, MT5 account with a different broker, I can highly recommend them. Their customer service is outstanding. Everything about them is very, very high quality. So that’s Blueberry Markets. I’ll put a link to them on this post, that you can go and find out more about them.

Client makes +40% in the month by risking just 0.5% per trade

The last thing is, now I’ve just heard about this an hour before I started making this video and podcast, from a client of ours, who’s just emailed Paul Tillman, who works with me over in the US, and he told Paul that this client has made a 40% account gain in September with risking only half of 1% on his trades. 40, four zero percent gain. And September’s just closed, and it was trading just the 12 hour charts, the daily and the weekly. I don’t have all the details yet, which is why I can’t expand on that. But by this time next week, don’t miss next week’s video and podcast. You’re not going to want to miss this because I’m going to find out the trades that the guy took and how he’s done this, what he’s done, to use what we teach and just on those three timeframes and to get to a 40% account gain in just one month.

So I’ll find out more over the course of the week, and I’ll let you know on the update next week. Like I said, you won’t want to miss it because if you can learn how to do that, you’re sorted with your trading, aren’t you?

So, this is it for the video. Hope you’ve enjoyed it. And don’t forget to look left and right, whether you’re crossing the road or you’re trading, it will help you in both instances. I’ll see you this time next week.

Please share this video

Don’t forget to share this video, like it and send it through to anybody who you think may be interested in trading. I’ll see you this time next week. Bye for now.

Episode Title: #430: Look Left, Look Right and then Look at Your Profits

Click Here To Learn More About Blueberry Markets

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#429: Trading in a Covid World, plus a 7.5% Account Gain in a Day

Sep 26, 2021

Trading in a Covid World, plus a 7.5% Account Gain in a Day

Podcast:

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Click Here To Learn More About Blueberry Markets

Click Here To Learn More About The Course

#429: Trading in a Covid World, plus a 7.5% Account Gain in a Day

In this video:
00:25 – Everything’s changed with Covid over the past 18 months
01:00 – Debate around masks, vaccines, lockdowns and passports
02:28 – Where to from here?
03:48 – Most issues disappear when you trade Forex
04:50 – Trader makes +7.5% gain in a day
06:00 – Are you looking for a good Forex broker?
07:15 – Send me your questions
07:31 – Feel free to share the video and podcast

We’re now traders in a COVID world. What does that mean for us as traders going forward, and how can you take advantage of it? Let’s talk about that a more right now.

Hey traders, Andrew Mitchem here, the Forex trading coach with video and podcast number 429.

Everything’s changed with Covid over the past 18 months

Well, obviously the last 18 months or so everything’s changed for virtually everybody, it doesn’t matter where you live in the world with COVID and all the effects of that. And it got me thinking about trading the Forex market and how good it really is and what advantages that we have going forward. I wanted to share some of those with you. And this is for you, it doesn’t really matter where you live in the world, it doesn’t matter whether you’re a business owner, an employee, or an employer. Let me explain what I mean.

Debate around masks, vaccines, lockdowns and passports

So right now there’s obviously a lot of debate around the world with masks, with vaccines, with vaccine passports, lockdowns, all those things are still going on, and depending on where you live in the world, different countries, slightly different rules. Here in New Zealand, we’re still in lockdown mode. I have no idea why, but we still are. It’s badly, badly affecting so many people business wise, emotionally wise, it’s not good.

And so if you’re, let’s say you’re a landlord and you own a shop in a town somewhere, anywhere in the world. So obviously, over the last 18 months, it’s been lockdowns virtually everywhere, and as a landlord that’s going to be pretty tough ind going forward, that’s going to be pretty tough because less and less people probably wanting to have cafes and shops, et cetera, in towns.

And so as a landlord, what do you do? If you’re the business owner, if you own the shop or the cafe or whatever it might be business in town, you’ve had lockdowns, you’ve had people not coming into work, and so you’ve had that issue. If you’re an employee and you work those places, then obviously, for a lot of you, if you cannot work at home, you’ve been badly affected as well.

Now if that’s what’s happened, and we can’t change a lot of that, but let’s have a think about going forward from here.

Where to from here?

Let’s face it, most people don’t like wearing masks. Personally, I think they’re horrible things. I’m very lucky I work from home and I hardly ever have to wear one. Now if you’re the sort of person, if you’re an employee, you’re now going to be having debates over masks, wearing them all day, and now vaccine jabs, and whether you …

And this is not about pros and cons or saying what my opinion is, my opinion to you doesn’t matter. The point is that people are going to get very strongly one way or the other. You might think that masks and vaccines are the answer and they’re fantastic. Likewise, you might think that masks and vaccines are just control and a waste of time.

But the problem is going forward, if you’re the boss, you’ve got to deal with this. You’ve got to deal with staff with different issues. If you’re the employee, you’re going to be happy if you are working with people who are or are not vaccinated, depending on your point of view. If you’re the person walking around town, going to a shop or a cafe, and you’re against vaccines and mass, are you really going to go into town and spend money to go and sit in a cafe, or they may not let you even in the cafe.

So there’s all these issues going on here. Now it’s probably going to get worse for quite a while until everybody sorts out what’s happening.

Most issues disappear when you trade Forex

Now bring that back to trading, and why I want to talk about that is to say, well, trading the Forex market, it gets you around all these issues, doesn’t it? You can work from a laptop. You can work from home. You can work remotely. If you’re in America or Europe where you’re lucky enough to now be able to travel again, that’s fantastic.

You’d have noticed that a couple weeks ago, Paul Tillman, who works with me, he was off in Florida for two weeks. He’s just been up to Philadelphia last weekend. They’re able to travel. A lot of my family over in Europe, they’re all back travelling again. So the Forex market allows you to do all these things, but if you’re here in Australia or here in New Zealand, where you’re kind of more stuck down and we’re still locked down on and can’t do things, can’t move anywhere, the Forex market allows you to continue to work and continue to do well and invest well. And that’s where I see the big benefit of trading the Forex market.

Trader makes +7.5% gain in a day

I wanted to give you an example from one of our clients posted on our forum site just last Friday. He made a massive 7.5% gain in the one day, last Friday, and that was risking just a quarter of 1% per trade, 7.5% gain in a day. He’s posted all the trades for us to look at, for our clients to look at on our forum site. He’s had some great gains and a few losses, but overall, he made with controlled low risk 7.5% in one day.

Now going back to the business owner, going back to the landlord, imagine trying to make 7.5% in a year for some people, especially if you’re looking at rents and rates, or if you’ve got investment properties. You make a 7.5% yield in a year, you’re doing really well. This guy made 7.5% with very low controlled risk in one day. And not only that, he has the skills to do this day after day. Sure, it was a good day, and is it going to happen every day? No, but it shows what can be done.

Are you looking for a good Forex broker?

Now lastly, if you’re out there looking for a good Forex broker, I mention these guys often because they’re good. We get tons of good feedback all the time from people who go to them and try them and really enjoy them, and that’s Blueberry Markets. They’re based over in Australia. They can take clients from pretty much anywhere in the world, unless you’re in the U.S. and a few other countries, but for most other people have a look at Blueberry Markets in Australia if you are interested in changing brokers, or you want to start up with a new broker, a good broker. Highly recommend them, great customer service, really, really good brokers. I’ll put a link to Blueberry Markets on this video and post and podcast.

So I hope that helps. Like I said, going forward, who knows what’s going to happen, but it’s probably going to be pretty tough whichever side of the fence you’re sitting on regarding the whole COVID situation. Who knows how long it’s all going to last for. One thing we do know for sure is that if you know how to trade the Forex market properly, you can make some really good money and achieve a lot and enjoy the comforts of not travelling and/or not having to go to work and choose what you do when you do. It’s a big bonus.

Send me your questions

So I hope that helps. Any questions that you have, email me, reply to this video podcast post if you’re seeing the email. If you’re not, send me an email to Andrew@theForextradingcoach.com. If you have any questions you’d like me to cover, any trading topics on future videos and podcasts.

Feel free to share the video and podcast

Let me know. Anybody you think might be interested in this, feel free to share the video and podcast, and I’ll see you this time next week. Bye for now.

Episode Title: #429: Trading in a Covid World, plus a 7.5% Account Gain in a Day

Click Here To Learn More About Blueberry Markets

Click Here To Learn More About The Course

Podcast: Play in new window | Download

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