Weekly Video News & Podcast

#421: Knowing When to Trade

Aug 1, 2021

Knowing When to Trade

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#421: Knowing When to Trade

In this video:
00:27 – When should I trade?
00:51 – How I used to trade many years ago
01:27 – Do what works for you
02:35 – Some examples of when I trade
04:00 – This makes trading enjoyable
04:13 – Where to put your funds and why I use Blueberry Markets
05:22 – How and where to trade
05:44 – Share and like this video and podcast

How do you know when to look at your charts and when you should and should not be trading? Let’s talk about that and more right now.

Hey traders, it’s Andrew Mitchem at The Forex Trading Coach with video and podcast number 421.

When should I trade?

I want to talk about a very important topic. I get asked this very often, and it’s all about when should I trade. Now of course, the answer for you will be different to someone else; it depends where you live in the world, what your available time is, what type of trader you are. There’s lots and lots of variables. But I want to give you some examples and hopefully help you to decide when the best time is for you. I’ll share with you when I trade myself.

How I used to trade many years ago

So years ago, I used to be looking at the charts all the time, looking at every pip movement up and down on five minute charts, one minute charts. All that crazy kind of stuff. And then I got into news trading and I thought that’s going to be the way to trade. But living in New Zealand, most of the news announcements were in my night time or early hours of the morning. So I was getting up at like 2:00, 3:00, 4:00 in the morning and looking for straddle trades, trading US news announcements. Of course it didn’t work. But it had some merit and some logic, well I thought it had merit and logic at the time.

Do what works for you

So it comes back to you have to develop something that works for you and it has to be realistic. And that’s why some 17 years later I’m still trading, because although I went through that experimental stage early on, I then very soon discovered that if I’m going to trade properly and I’m going to do this properly and I’m going to do this professionally, I need to do something that works. So for that reason, I then started to understand candle patterns and strength and weakness analysis. And when you understand candles, what you realise is there is no point in looking at a candle when it’s mid-formation. So what I mean by that is I only look at a candle and make a decision on whether I’m taking a new trade or not once that candle has closed and completed. Because then nothing else moves. Then you can make your analysis. A lot of benefits to that. Less stress, you know when to look at your charts, and if you trade the way that I trade using retracement limit orders you don’t even need to be there at that exact time when the candle changes.

Some examples of when I trade

So to give you some examples: the daily candle will close and the new day opens at 5:00 PM New York time. That’s Eastern Standard time. At that time, I personally look at the daily charts because that’s when I write my analysis. And I also at that stage look at the four hour charts, the six hour, the eight hour, and the 12 hour charts. So I can look through those five different timeframe charts, it takes me 10-15 minutes to do all of that once a day. And of course at the beginning of each week you can look at the weekly charts, scan through those in five-10 minutes. The beginning of each month, you can do exactly the same on the monthly charts. So you only need to do the monthly charts once in a month. Very, very easy. The weekly charts once a week. Very easy.

And then it depends on your available time. So for me personally, I might look at the close of a six hour chart during the day just once, and then the eight hour chart just once if I’m available. And then for me personally, I then look at the 5:00 AM New York changeover, where I can look at the 12 hour, the six hour, the four hour, and because that’s also the European session with a bit more activity, I look at the two hour and the one hour charts as well.

But all up, I can do all of that easily in under 30 minutes per day. It’s knowing when to look. If you’re not there, it doesn’t matter because the way that we trade uses retracement orders. You don’t have to be there stressing about being there at that exact time.

This makes trading enjoyable

So it makes life easy. It makes it very controllable emotionally. You know when to be at your charts, when not to be, and it makes planning very easy. So that’s how you do the trading.

Where to put your funds and why I use Blueberry Markets

The next thing you need to know is okay, so you know how to trade or you’re developing a strategy that works nicely. It’s where do you put your funds? I think that’s also a very important point. Now I’ve been with Blueberry Markets for a lot of years now. I find that their service is exceptional and unlike any other broker I’ve ever dealt with ever. Their service is exceptional, their spreads are very, very good. Their level of customer service is just absolute top-notch. Their platform’s great. They’re based in Australia. You can open accounts in various currencies. They’re ASIC regulated within Australia. There is so much going for Blueberry Markets. Now you look online; there are just brokers everywhere. There’s still brokers popping up all the time. My email behind me here gets inundated daily with different brokers asking me to promote them. I don’t promote any of them. I only promote the brokers who I use, and I can tell you without doubt Blueberry Markets are one of the very, very best brokers. Without doubt, you won’t beat their customer service. It is exceptional.

How and where to trade

So if you want to know more about how to trade, come and talk to me. Find details on my website. If you want to know where to trade, I highly suggest you consider looking at Blueberry Markets. And to help you out I’ll put a link to Blueberry Markets on this video and podcast post. So hope that helps. This is Andrew Mitchem here at The Forex Trading Coach.

Share and like this video and podcast

Feel free to share this video, this podcast, with anybody who you think may be interested in learning how to trade properly and future-proof themselves and look after their financial future. And I’ll see you this time next week. Bye for now.

Episode Title: #421: Knowing When to Trade

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#420: Have You Received Your Inflation Bonus Yet?

Jul 25, 2021

Have You Received Your Inflation Bonus Yet?

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#420: Have You Received Your Inflation Bonus Yet?

In this video:
00:25 – Inflation is about to take off
00:56 – Why is inflation rising and what does that mean for you?
02:14 – Do you have a 4% pay increase?
02:36 – What can you do about this?
03:03 – Look at our recent Monthly chart trade results
03:45 – Our +5.5% gain from just 3 trades
04:11 – Talk to us

Have you received your inflation bonus yet? If you haven’t, you need to start asking for one. Let’s talk about that and more right now.

Hey traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 420.

Inflation is about to take off

Now every way you look, everywhere you read right now everybody is talking about how inflation is going to go crazy all throughout the world. Certainly here in New Zealand, that is the case. Our annual inflation has just risen, released last week, 3.3%. The highest in over a decade.

In the UK, I was reading that they are projecting within a few months their inflation to be up to a 4% massive, massive inflation. Why is that happening?

Why is inflation rising and what does that mean for you?

Well, just look at what’s happening around the world with even here in New Zealand, just a shortage of good labour, good staff is a big, big shortage problem. There’s a shortage of materials, there’s a shortage of food being picked because of the shortage of staff, and it’s all to do with obviously COVID and the knock-on effects of that.

You look at what we’re doing right here. We cannot get enough people into the country. They’re not letting people into the country to come here and work, and as a result of that we’re seeing food wasted. There’s food through orchards and cropping all over the place that’s just wasted. It’s absolutely criminal. What’s happening with that is the food is getting more and more expensive, and there’s all this wastage all over the place, because orchardists, et cetera, cannot pick.

Same with housing, you cannot find a builder. They’re so rare at the moment, because everybody’s tied up doing work. So therefore if you want to build it, you have to pay stupid money for it. There’s a lack of product coming into the country, so therefore there’s a lack of material and therefore the price goes up, because if you want it, you have to pay for it. Supply and demand, simple economics.

So, that’s what’s happening here. It’s probably going to be happening exactly where you are and it’s happening right around the world, or shortly will be if it’s not already doing so.

Do you have a 4% pay increase?

So, what does that mean for you? Well, if you’re in the UK, that means if you don’t have a 4% rise in your income, you’re effectively going backwards. Here in New Zealand if you don’t have a 3.3% rise in your income from this time last year, you are going backwards. The cost of living is getting higher and higher and probably for most people wages are not keeping up.

What can you do about this?

So, that brings me back to trading and why I trade and why I suggest that most people, if you have that interest, you should at least put some of your investment through trading the Forex market, but of course only if you know what you are doing. I want to give you three examples of three trades that we’ve taken on our membership site, because people say to me all the time, “Look, I don’t have time. I’ve got jobs to do, family, et cetera.”

Well, that’s fine, so do most people.

Look at our recent Monthly chart trade results

The reality is why don’t you have a look at what we’ve posted on our monthly charts? We have two trades closed on July’s monthly charts already. The Australian dollar, US dollar made a four to one reward to risk, the US Canadian made a four to one reward to risk. Two fantastic trades. We’ve also this week had a trade from June’s monthly chart trades on the Euro Australian dollar that made a three to one reward to risk.

All put on our membership site. The three trades would have taken you less than two minutes to have placed, and that’s it. Absolute no-brainer. They’re all on our membership site anyway for people to follow and copy.

Our +5.5% gain from just 3 trades

Those three trades alone with only half of 1% risk per trade, very, very tiny, would have made you a 5.5% gain on your account from just those three trades. 5.5%, three trades, two minute’s work, or if you got your 4% wage increase because of inflation. It makes you think, doesn’t it?

I know which way I’m going, I’m going trading every day.

Talk to us

If you would like to take advantage of these conditions and what we do, what we teach with our high reward to risk low risk strategy, come and talk to us. We’re here at The Forex Trading Coach, and this is what we do, this is why we help people, that’s what we achieve. I’ll see you this time next week. Bye for now.

Episode Title: #420: Have You Received Your Inflation Bonus Yet?

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#419: Trade When the Conditions are Right

Jul 11, 2021

Trade When the Conditions are Right

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#419: Trade When the Conditions are Right

In this video:
00:23 – Knowing when to trade
00:48 – Why I trade candle patterns
01:42 – Don’t trade if the market is flat
02:39 – Look at this week’s trading charts
03:15 – Our results from this week
04:40 – Get onto one of my weekly webinars

When conditions are right, get trading, make profit, and enjoy it. Let’s talk about that and more right now.

Hey traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 419.

Knowing when to trade

Now, trading conditions are hard to judge; it’s hard to know what kind of conditions we’re in right now. But one of the hard things I think people find with trading is they struggle with waiting and they struggle with being impatient. People just really want to take trades all the time because they think that’s what they have to do. For me, there’s a few easy ways around this.

Why I trade candle patterns

For me, it’s why I look at candle patterns. Because a candle pattern will tell me if it’s in the right part of the chart whether I have a suitable trading opportunity or not. It’s why I only look at my charts two or three times a day on the close of candles. I’m not there being impatient feeling that because I’m at my computer and I’m at the mouse and I feel I have to keep clicking. You know, you’ve got to get away from that impatience that people have with trading.

Unfortunately I see it all the time that people just take too many trades, and there’s a big, big problem. And you can see why; it’s exciting to trade and you want to trade so therefore you trade. But always look at the conditions. It’s why I look at round numbers. It’s why I look at room for moving to my profit target, it’s why I look at different timeframe charts as well. It’s why I assess strength and weakness. So I’m giving myself a high probability chance of a successful trade.

Don’t trade if the market is flat

Now, if the market’s flat and if the market’s not showing anything, I simply move on. I come back and look again later when the next candle closes. But if there’s nothing there, don’t take anything. Don’t just pay your broker lots of spreads and probably in taking losing trades. Because it’s so hard to climb back from that. You’ve got to have profitable trades that outdo your losses plus make some more and so that’s a real hard part of trading for so many people.

You can always find a trade if you go down to a shorter timeframe chart. You’re looking at real short timeframe scalping kind of positions. But that’s not what most people are about, and it’s not enjoyable for me, certainly. I don’t think it’s an enjoyable way to trade. You’re far better off being patient and looking a few times a day and then taking a trade with high reward to risk. Not this stressful feeling that you’ve got to watch every pip move up and down situation.

So when trading conditions are not there, they’re not right, don’t trade.

Look at this week’s trading charts

However, have a look at this week’s charts. Now Friday of last week was the US monthly employment data, so things were pretty quiet. Monday was Independence Day in America, so things were pretty quiet. But then Tuesday, Wednesday, Thursday we’ve seen some exceptional conditions. So just four days into the week so far as I’m recording this right now on my Friday morning, we have had some great trades. If the market is showing the conditions, you see the trade, you take the trade, you profit from it. Because that’s what you have to do when the market is giving you these opportunities.

Our results from this week

To share with you some trades from just this week my daily chart trades on our membership site – don’t forget all these trades are just with half a percent total risk per trade, very, very small risk – we’re up 2.8% on closed trades on our daily chart trades that have been published trades for our members to follow. I’m up 2% on our monthly trades that are still open right now, taken at the beginning of July. I’m up 2.2% on all other timeframe charts that I’ve taken myself this week. And our Pattern Trader software, our auto bot software, and also our Trade Copier service called Echo Trade Copier, is currently up 1.6% for this week so far.

So you put all that together and you think, well we’re only four days into the week when I’m recording this and Monday was a public holiday in America, so that meant most of Monday and part of Tuesday was not much happening anyway. Put all that together, and you can see that when the trading conditions are good, you see the trade, you take the trade, you profit from the trades and like I said at the beginning you enjoy it. Because you’ve rewarded yourself by being patient when market conditions were not there, you’ve been very profitable when the conditions are there. That’s how you trade. That’s the psychological aspect about it. You’ve got to be patient when it’s time to be patient, and when it’s time to take trade you’ve got to get in there and take those trades.

I hope this helps. This is Andrew Mitchem at The Forex Trading Coach.

Get onto one of my weekly webinars

By the way, if you’ve not been on one of my webinars make sure you jump on one. We hold webinars each week and you can also get an on-demand webinar recording as well. Especially for new traders, there’s one type of webinar if you’re brand new or relatively new to trading, jump on that webinar. If you’re more experienced then jump on the webinar for what I call the Frustrated Traders, for people that have been there, tried it, it’s just not working, they’re ready to give up. If that’s you, jump on that more frustrated trader webinar and I’ll give you some helpful tips and information, depending on whether you’re new or been there for a while and frustrated. I’ll put links to both of those webinars on this page somewhere so you can find them as well.

Have a great rest of the week. I’ll see you this time next week. I hope that was helpful, bye for now.

Episode Title: #419: Trade When the Conditions are Right

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Click here to Signup for the Experienced Traders Webinar

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#418: Incredible Returns from Our Trading Bots

Jul 4, 2021

Incredible Returns from Our Trading Bots

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#418: Incredible Returns from Our Trading Bots

In this video:
00:27 – TFTC Pattern Trader Updates
01:13 – Updates coming in August
01:59 – Our top bot traders
03:18 – 2 weeks free trial available
03:30 – Traders making great returns and enjoying knowing how to trade
04:17 – My trading blend of manual and auto trading

I’m going to give you some updates from our TFTC Pattern Trader software, and also talk about some very happy coaching clients.

Let’s get into that and more right now.

Hey traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 418.

TFTC Pattern Trader Updates

Now, I want to give you an update, first of all, regarding our amazing bot trading software called TFTC Pattern Trader.

I’ll put a link to it on this page, so you can go and get yourself a free two-week trial to that software.

Now, the software basically allows you to create different trading robots using my strategy across different timeframe charts with different criteria, and allows you to back test those trades, and also, then, when you’ve created a portfolio of bots that you like, to take those trades on a live account, that you have your MT4 account built into the software.

So you don’t need any extra VPS. You don’t need any expert advisors, you don’t need anything like that. It’s all integrated together.

Updates coming in August

Now, in early August, we will be having some new updates and upgrades to the system. It’s already incredibly amazing.

It’s going to get even better. We’re going to have new functions, like the ability to forward test, as well as just back test, which is going to be a massive improvement yet further.

We’re going to also have the ability for people to fine tune different indicators on different timeframe charts, plus you’d have the ability to use the built in virtual server and built in virtual account to have it in different currency denominations and start at different account sizes, to make it realistic, to see what returns the bots would have created, and back test and then forward test and then going into live trading.

Our top bot traders

Now, just to give you some examples, our top 20 leaderboards, that’s the top 20 returns from people using the software already, all 20 of those people have made actual returns of over 20%.

Now, they’ve been using it for different lengths of time, but the top person right now is at 76% gain from their bots.

Now, don’t forget that they’ve created these bots using a simple strategy, simple to do, and they’re running this on live accounts, and they’ve made 76%, all with low drawdown as well.

And the top annualised return, so, this person hasn’t made this yet, but they’re projected to, according to their current figures, they’re up to make 221% gain on their account in 12 months, according to where they are so far, with their actual live account returns.

Quite amazing returns when you think about that, and don’t forget, it’s all automated, or you can manually opt to take trades or not via Telegram when you simply get the trade sent through to you, you can see the trade and you decide yes or no on Telegram app, and it automatically places the trade there onto your trading account, or it can be completely, 100% automated.

So it’s quite amazing returns that people are getting there.

2 weeks free trial available

As I said, there’s a two week free trial that we can give you to the basic version of the software. Just go to TFTCpatterntrader.com. And as mentioned, I’ll put a link on this post, as well.

Traders making great returns and enjoying knowing how to trade

Now, last thing I want to comment about is, two clients last night on my webinar, John, over in the UK said, “Thanks for the webinar. Great as normal, I’m learning a lot, and hopefully on my way to consistency after so many years of trying.”

John’s just been with us for about a month and just changing his trading around, some of the comments that he sent through were just amazing about how he’s finally now starting to understand what it is he needs to look for within his trading, and Sean, who is from here in New Zealand, Sean said, “The course is amazing. I’ve learned more through the webinars and the forum, which definitely complements the course. I highly recommend it.” And for June, he made over 6% percent on his account gain.

So, just shows what’s happening.

My trading blend of manual and auto trading

So, for me, the answer for trading going forward, is to have some manual trading, and some bot trading, some automated trading.

And our bot trading is still working on my trading strategy, but it just frees you up even more time and takes even more emotion out of things.

So, look, if you want to know about the coaching course, have a look at theforextradingcoach.com.

If you want to know about our pattern trader software, which really is the best automated trading software out there anywhere… I’m not just saying that because we’ve developed it, and helped create it. I’m saying that because I genuinely believe it. It’s like nothing else out there.

Have a look at TFTCpatterntrader.com. Any questions, send me an email andrew@theforextradingcoach.com, or leave an email or comment on this post.

If you’re on YouTube, leave a comment. Don’t forget to share and like the video, send it through to any friends you may have who are interested in making some great returns through the Forex market.

Once again, this is Andrew Mitchem here at The Forex Trading Coach. I’ll see this time next week. Bye for now.

Episode Title: #418: Incredible Returns from Our Trading Bots

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#417: Are Cryptos a Good Investment?

Jun 27, 2021

Are Cryptos a Good Investment?

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#417: Are Cryptos a Good Investment?

In this video:
00:22 – Crypto currencies or Forex?
00:45 – The advantage of Forex
01:39 – Bitcoin crashes 50% in 2 months
02:53 – Emotions when trading live
03:49 – Forex is the clear winner

Are cryptos a good investment? Let’s talk about that and more right now.

Hey traders, it’s Andrew Mitchem here, the owner of the Forex Trading Coach with the video and podcast number 417.

Crypto currencies or Forex?

Now there’s obviously a lot of talk and a lot of speculation around right now, about cryptocurrencies, and are they a better way of trading than trading the traditional forex market? And with all these new things, everybody thinks that the next thing’s the best thing, but for me, there are so many reasons why trading forex is so much better than trading cryptos.

The advantage of Forex

To start with, forex is stable. It’s been around for years and years now. It’s stable. You can trade it fundamentally. So you can look at world events, news items. You can trade it technically, you can look at your charts. You can trade it with a combination of both. As you know, I’m a technical trader in the forex market, and so what I see on the charts tells me what’s likely to be happening and where I can put my entry and stop loss and profit targets, et cetera, to gain my low risk, high reward trades that we trade.

And so for me, that’s a huge advantage, and world events move the forex market. And you only need to know about eight different currencies, the main currencies, and that’s it. So there’s a lot of advantage there. You’ve got stop loss protection, you can trade different timeframe charts, you know exactly when to look at your charts, et cetera. So all those benefits that you just do not get in the crypto currencies.

Bitcoin crashes 50% in 2 months

Take Bitcoin for example. Just two months ago, Bitcoin almost got to 65,000 US dollars for one Bitcoin. Today, two months later, right now it’s at 33,000. That’s almost a 50% drop in the value of Bitcoin. And that’s something you just do not get in the currency markets. You imagine if you went out there and just bought a Bitcoin and paid nearly 66,000 US dollars or 65,000 US dollars, and today it’s half that value. That’s clearly not good.

But the thing is, how do you trade that? And the beauty of the forex market is you can trade the forex market and you’re in and out of trades relatively quickly, depending on what type of trader you are within a few minutes, a few hours, a few days sometimes, the odd time a week or so. But you’re in and out of that market without those big gaps and those big gaps up, big gaps down and all of a sudden your Bitcoin’s gone from 33,000 down to 25 or maybe 33 up to 38 or something. Big gaps up and down are very, very dangerous emotionally. And you cannot really put stop losses in place, and it’s really hard to control what’s happening when you get those gaps.

Emotions when trading live

So to me, you’ve got to remember that when you trade live, anything live, it’s very, very different. The whole could’ve, would’ve, should’ve scenario, all sounds great in hindsight, “Oh, I should have bought Bitcoin when it was $2,000 and then I should have sold it at 65,000.” But thing is, did you really do that? And so when it comes to real money, it’s a lot harder than the would’ve, could’ve, should’ve theory, because it’s real. It’s real money. It’s your hard earned cash. It’s an investment. You’ve got to make a decision and you’ve got to stand by that decision as your cryptocurrency right now, over the last two months has just done nothing but drop. When you get out, do you lose money? Do you accept a loss? All those things, really, really difficult when it comes to real money.

So theory of cryptos, absolutely fantastic in theory, of all these different ideas and different currencies coming out.

Forex is the clear winner

The reality is, if you want a good, safe, steady return with a good investment proven market, absolutely the forex market without doubt wins completely and utterly in my opinion.

I hope that helps. So again, difference between theory and reality. It’s a big one when it comes to actually putting your money, putting your neck on the line.

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

Episode Title: #417: Are Cryptos a Good Investment?

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#416: How to Achieve Time Freedom

Jun 20, 2021

How to Achieve Time Freedom

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#415: Get a copy of our Traders App

In this video:
00:31 – Feedback from our live weekly webinar
01:23 – How to achieve time freedom
02:00 – I look at the charts twice a day
03:04 – The beauty of trading Forex
03:27 – Commit to learn at the beginning
04:14 – 2 trades taken live on our webinar
04:36 – How to take the next step

Time freedom. It’s something everybody is searching for. Let me share with you now how Forex Trading can help you achieve the time freedom that you’re looking for.

Hey traders, it’s Andrew Mitchem here at the Forex Trading coach with video and podcast number 416. And I want to talk about time freedom on today’s video and podcast.

Feedback from our live weekly webinar

But first, I just want to share with you an email that I’ve received from a new client who attended my live webinar just last night. And by the way, I took two trades on the one-hour chart and the two-hour chart. Both were profitable on the webinar, made our clients a lot of money.

Received this from John. “Hi, Andrew. I’ve been in many live sessions over the last few years. In fact, hundreds from … Won’t read the company name out, but a well-known Forex course.

And today, with you was by far the best. It was simply sensational. It looks like after so many years of frustrations, dead ends false starts and false dawns. I’ve found the right organisation and mentor,

and it comes as a relief having thrown in the towel a while ago exhausted and depressed” that’s from John. So just wanted to read that out for you. It’s just recently been received.

How to achieve time freedom

So back to time freedom. We all have the same time. It doesn’t matter where you live in the world, how old you are, how much money you’ve got, whether you’re male, female, what your job is, it does not matter. Everybody has the same amount of time and it’s how we use it that is the most important thing. And I want to share with you why I believe that once you can understand trading and once you’ve trade properly, how it’s more than just like the monetary side of things that is important. It’s the time side of it, it’s the freedom that it provides.

I look at the charts twice a day

For me personally, I commit to looking at the charts twice a day. If I do that, I can trade full time, look through ample charts and make some great returns. And so what that allows me to do is to choose what I do the rest of the day, whether that be something that wants to be freed up time for you know, you might want sort of more time for either other work. You might want it for sports, recreational, family, whatever it is you do. I live on 11 acres here, it takes quite a bit of looking after you know, we do all this ourselves, myself and my wife.

So I need time to go and do those type of things. I fly a helicopter, you know that takes time and commitment for learning and training and actually doing the fly. So I like to do that. I like to play sports, we’ve got five children, you know it takes time to do all the running around for kids. Being the taxi service, the mum and dad, taxi service for children and all and commitments and schoolwork and all those types of things. So all takes time out of your day.

The beauty of trading Forex

And the beauty of trading is that because I know when to look at the charts and for me, it’s 5:00 AM and 5:00 PM, New York time. And that’s the only time I look at my charts.

I know what free time I have during the rest of the day and night to decide on what to do. And so that to me is one of the benefits.

Commit to learn at the beginning

Now, of course, when you start trading, you’ve got to commit to extra things like John with the webinar there, he’s on the webinar for two hours yesterday as were a lot of our clients. And yes, you need to commit because that’s like educational. That’s building up your knowledge in real time to get that stage where you can trade either sort of part-time if you want to or full time, some people get to that full-time stage and that’s when you really make that true financial and time freedom break.

And you know, obviously not a lot of people get there, but it takes time and dedication. You’ve got to start somewhere. So exactly like John, jump onto something that works, jump onto something that’s proven. And with people who are actually trading live.

2 trades taken live on our webinar

Like I said, I took two trades on my live account in front of our clients. They were taken on the webinar and by the time we’d finished the webinar, they both hit profit. You know, people could take those trades follow along with that in real time and profit from those positions that we took, there is no better way to learn than to follow someone in real time with their trading.

How to take the next step

If you’d like to know more, just reply to us or send us an email, Andrew at theforextradingcoach.com or find my details on our website. We look forward to helping you to gain more time freedom in your life. Bye for now.

Episode Title: #416: How to Achieve Time Freedom

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#415: Get a copy of our Traders App

Jun 13, 2021

Get a copy of our Traders App

Podcast:

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#415: Get a copy of our Traders App

In this video:
00:23 – 2 announcements to inform you about
00:39 – Our new traders app
02:02 – The next FX Insiders webinar
03:20 – Recap of the 2 announcements this week

We’ve just launched our first ever trader’s app. Let me show you how you can get a copy right now.

Hey traders, Andrew Mitchem here, the owner of The Forex Trading Coach with video and podcast number 415.

2 announcements to inform you about

Got two very important announcements to make for you today. First one is about our new trader’s app, and the second one is about a live webinar that I’ll be holding this week and I’d love you to attend that because you’re going to learn so much from it.

Our new traders app

So number one, our new trader’s app. We have launched our first ever trader’s app for the public to gain access to the free information that we post each day on our website. But it’s just going to be available for you nice and conveniently straight through to our app. Right now it’s only available on the IOS or Apple App Store, but very shortly we’ll have it available for Google and Android. So all you need to do is search up the Forex Trading Coach Mobile, I’ll put a link on this video and podcast about it.

Now really cool app, very easy to use. It sends you a link to the updated daily free information where I publish the strengths and weaknesses of currencies each day and different currency pairs where I’m looking for them to predominantly look for buy-trades or sell-trades for that day.

That information comes through to you on the app now. You can also get access to all of my now 415 videos and podcast, the weekly videos just like this one. You can register for one of my webinars that I hold for new traders or experienced traders each week. You can also register for our ebook or our lot-size calculator that works on MT4 or MT5. So that’s the app. Have a look on the App Store and look on the link that I’ll put on this podcast and video.

The next FX Insiders webinar

That’s the first thing. The second one: on Wednesday the 16th at 7:00 AM my time here in New Zealand, which could be your Tuesday so have a look depending on where you live in the world, it could be your Tuesday, it could be early hours of Wednesday. There’s a link on the page that I’m going to give you anyway to register for my next Forex Insider’s Webinar. Got a lot of people already registered. We do have to put a restriction on it because it’s a live session.

But it’s going to be a really good webinar. It’s going to be about how you can increase and boost your profits plus also save yourself time by using our clever way of using retracement orders and limit orders to enter into trades. So it definitely will boost your profits, it will increase your reward-to-risk of your trades, and it saves you time because you don’t need to be there at the time that the price gets to your entry level.

So I’d love to share with you some more information about how we do that and how that can help benefit you. So there will be a link on here; make sure you register for it. Like I said, limited spaces. It’s a live webinar. Make sure you jump on it and take advantage of that information that we are sharing with you.

Recap of the 2 announcements this week

So two things: number one, if you are on the Apple phone IOS get a copy of our new app. If you’re on Android just got to wait a tiny bit longer but it’s coming. Point number two, make sure you register for the webinar that I’m going to be holding this week and get the start time correct in your local start time.

If you’re in the US, it’s going to be your Tuesday sort of afternoon/evening time. If you’re in Europe, it’s going to be your Tuesday evening also. If you’re in Australia, it’s going to be early on your Wednesday morning and 7:00 here in New Zealand start time.

So I look forward to sharing with you how you can boost your profits, save time, increase your reward-to-risk on that webinar. Hope that helps, I’ll see you this time next week. Bye for now.

Episode Title: #415: Get a copy of our Traders App

Click here to download the App on your iOS Devices

Click here to download the App on your Android Devices

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#414: It’s Time to Get Real

Jun 6, 2021

It’s Time to Get Real

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#414: It’s Time to Get Real

In this video:
00:23 – Keep it real
01:04 – We fail to recognise the effort required to succeed
01:32 – A trading example
03:22 – You need to understand the market
04:42 – You need dedication and hard work

As a Forex trader, you need to learn to get real. Let me explain more right now.

Hey, traders, Andrew here at the Forex Trading Coach with video and podcast number 414.

Keep it real

Now, this is going to be all about getting real, keeping it real with your expectations. So, what we see online is everybody’s success. We see lots of money being made in trading. If we’re into sports, we see great sports men, great sports women out there having success, scoring the runs, taking the wickets in their cricket, winning grand slams in tennis, scoring tries in rugby, scoring the goals in soccer.

With musicians, we see the great guitarists, the amazing singers, the drummer, all those type of things. We all see their success and we go, “Wow, wouldn’t it be amazing too?”

We fail to recognise the effort required to succeed

But the problem is, is we don’t see the hard work, the blood, sweat, tears, the dedications, their failures, their commitments behind the scenes to get to that level of success. Trading is no different. Trading does take work, dedication, commitment to learn how to do this properly. It is no different from being a fantastic singer or tennis player or whatever it is that you follow.

A trading example

A great example of that was something that I got sent just yesterday. Someone sent me a link to this Expert Advisor, so this robot that trades gold. I looked at it briefly and I thought, “That looks okay,” and it had some quite good success. It was up 22% by taking these buy trades automatically on gold. Now this morning my time, which is now Friday, the 4th of June, gold has crashed. It’s dropped quite a lot overnight, had a big fall. Biggest fall it’s had in quite a long time. I looked at the results of this Expert Advisor this morning, it’s now on its equity at 3.4% from mid-20s just yesterday. So, it’s had about a 19% drawdown just today.

Now the reality is, is you cannot absorb that, and so unfortunately most people won’t see that, they’ll just see it as … they won’t see it’s an equity drawdown, and so they won’t understand what they’re looking for. So they think they can pay their $200 and off they go and this thing’s going to magically trade for them, but there’s no work involved in that, there’s no understanding involved in that. That’s the downside when you make things too easy.

So I just wanted to highlight that, because I’ve seen it just an hour ago. Looked at the updated results and it’s crashed. So, the problem is with that is they are not understanding the basic principles of trading, they’re not understanding controlled risk, because those trades on that Expert Advisor, they’re still open. If gold crashes again today and next week when you’re watching this video, that 19% drawdown could be 20%, 30%, 40% drawdown, who knows. That’s the problem when you don’t know what you’re doing or you’re relying on someone else and you don’t know how their system works.

You need to understand the market

So, the whole let’s get real thing, you’ve got to understand the market. Now to be perfectly honest, we’ve had a pretty tough last few weeks on most of our charts. The market has not been kind to us, but we have very low controlled drawdowns and we have low-risk on our trades. We’ve seen personally the longer timeframes, the weekly and the monthly charts and the short timeframes, the one, two hour charts, four hour charts had some great trades on those, but in between, the six, eight, 12 hour charts and the daily charts have not been that good in the last few weeks, but we’re real about that.

Not every trade will be profitable, not every week will be profitable. Sometimes you may even get a month that’s not profitable, but you have to be real, you have to have those expectations of that could happen. But the difference with the way that we trade, because with good traders and we understand risk and reward and low-risk portrayed, and the way that we teach, is that if we have a few weeks that are not so good, our drawdowns are tiny. We’re not going to suddenly lose this Expert Advisor 19% overnight, you cannot absorb that. So, the let’s get real thing is that trades will not always work, you have to be real about that.

You need dedication and hard work

The dedication and the hard work and the commitment is real. You can’t just buy something for 200 bucks, stick it on a virtual server and expect it to work miracles, that’s not real. So understanding how to trade is the reality, understanding the commitment. I held a webinar yesterday for two hours, it ended up being two and a half hours. I can’t say everybody, but almost everybody stayed on that webinar the whole two and a half hours, because they had the time, the dedication, the commitment to learn.

We took some webinar trades to our charts yesterday and they did really, really well. So being real, turning up, attending webinars. With our course, being on our forums site, viewing our daily trades each day, putting a little bit of time and effort into your trading, especially upfront when you’re learning is the get real bit. Sure, once you know what you’re doing, you can trade in 10, 20 minutes a day going forward, but you have to expect and accept that some effort is required upfront.

So get real in your trading, expect some losses from time to time. Don’t expect miracles, expect to put some effort in, but then get real and expect some great returns.

This is Andrew Mitchem at The Forex Trading Coach. I’ll see you this time next week. Bye for now.

Episode Title: #414: It’s Time to Get Real

Learn More About My Course. Click Here!

If you have been trading for less than 6 months, click here

If you have been trading for more than 6 months, click here

Click Here to Check my Recommended Brokers.

The 30 Minute Trader Trip

Watch how Andrew made a +12.79% gain on a live account during 4 weeks while trading for just 10-30 minutes a day while on holiday in the UK and France.

CLICK HERE TO ACCESS HE VIDEOS >>

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#413: How to Increase the Reward:Risk of Your Trades

May 30, 2021

How to Increase the Reward:Risk of Your Trades

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#413: How to Increase the Reward:Risk of Your Trades

In this video:
00:29 – An easy technique which will increase your profits
00:53 – Most traders focus only on Win Rates
01:52 – How do you achieve high R:R trades?
02:24 – Using Limit Orders
03:49 – A real time example from the USD/JPY D1 chart
05:23 – A lower win rate but make massive gains
05:44 – My June FX Insiders Webinar – email me if you’d like to join me

I’m going to explain to you how you can increase the reward to risk of your trades by using limit orders. It’s a very important part of your trading success. Let’s get into that and more right now.

Hey, traders, Andrew here at the Forex Trading Coach with video and podcast number 413.

An easy technique which will increase your profits

Now I want to explain to you a very easy technique to increase the reward to risk of your trades, and by increasing the reward to risk of your trades, that is a massive step forward for you to become a profitable Forex trader. Now, when people start trading, they probably don’t value how important that is.

Most traders focus only on Win Rates

Most people seem to think about win rates and I get emails all the time saying, “Hey Andrew, what’s your win rate.” Or, “If I took daily charts, what’s your win rate or one hour charts does that increase my win rate?” And the problem with win rate, although it might feel very nice and warm and fuzzy to say, “I’ve got nine out of 10 trades correct.” The problem is with most people that I’ve ever seen that have very high win rates is their reward to risk on the trades is very small and all they need is say, one out of 10 trades to go wrong, and it’s wiped out all the gains that they’ve made from the other nine profitable trades.

So, having a win rate of let’s say 90%, really doesn’t mean a lot. And most people that I’ve seen over all the years of trading, actually lose money, bigger picture when they have high win rates. Although for most new people, it sounds like it’s the most important thing. It really is not. High reward to risk is what counts.

How do you achieve high R:R trades?

But how do you do that, and how to do that in a practical, easy way? Well, some people might look at that and go, “Okay, to get a high reward out of my trade. I must have a very, very small stop loss. And every so often, you pull off a winning trade and it makes a high reward to risk.” And you could do that if you really wanted to. The problem is your win rate on that will be very, very small because most of the time with a very small stop loss, your spreads or news announcements or something is going to take the trade out and you’ll just end up losing so many trades.

Using Limit Orders

The easy way around it, and it’s what we’ve done for years and years, is to use limit orders. So when you look at your charts, you can place a trade at the market, which means you’re jumping in right now. You can use stop orders, which means on a buy stop, it means that you are putting a by trade in above the current price. Not really so good for high reward to risk. It’s okay if you want to break out of a zone, let’s say.

But the trade that we use are limit orders. So I’m using a buy limit means here’s the price right now. I like my setup, but I’m buying when the price goes lower than where it currently is. And it doesn’t mean to say, you need to sit there, just watching for the price to drop, drop, drop. “Oh yeah, I’m going to press buy now.” You don’t do that at all. You see your setup that you like as a trade and you then, using the way that we trade, using fib levels, et cetera, we then put in a buy limit to buy the trade if the price drops to a certain level.

And now of course we can just place that order and just leave the trade alone. We don’t have to be there at that exact time when the price hits that level. The same thing in reverse with the sell. Price is here. We don’t want to be selling right now. We want to wait for the price to rise first and then sell, based on the strengths of the candle pattern and the setup that we see, but we’re getting in at a higher price.

A real time example from the USD/JPY D1 chart

Now I’ll give you an exact example from just yesterday. So go have a look at your charts on Thursday, the 27th of May’s 2021 daily charts. So yesterday I took a trade on the US Yen, and we had a trade and it made a fantastic 2.5 to one reward to risk. Now I’ve just calculated, if we took that same trade with the same stop loss and the same profit target, but we took that at the market open, we’d have made a 1.1 reward to risk trade. So equate that to percentages. If I’m risking half a percent on each trade, if I placed the trade at the market, I’d have made just over half of 1%, but because I used my limit order and the trade filled for me really nicely at the exact entry that I was looking for, I made a 1.25% gain on my account.

So you can see one trade, I’m making half a percent, but I’m not doing that. The other trade I’m making 1.25%. Exactly the same trade, took me the same time to see the trade, took me the same time to place the trade. I didn’t do any more work. All I used was a limit order to take the trade at a better price. And by doing that, you can have a say, 30, 40, 50% win rate. You don’t have to have 90% win rate, because your trades are making great profit. And that’s where the gains are made.

A lower win rate but make massive gains

Now, if you can achieve trades of two to one, three to one, four to one, five to one, that kind of level, you can have a very ordinary win rate and still do extremely well from your trading. And that means it’s something that’s very easily achievable and it will without doubt increase your returns from your trading.

My June FX Insiders Webinar – email me if you’d like to join me

Now, following on from that in June, my next Forex Insider’s webinar will be on exactly this topic, but it’s going to be a lot more detailed, a lot more expanded. So we’re going to have an hour webinar, live webinar, limited places. If you’d like to get on there and learn more about how we use limit orders and how we achieve high reward to risk trades, do yourself a favour, register for it and send me an email, andrew@theforextradingcoach.com, and I’ll make sure that you have one of those reserved places on that Forex Insiders webinar. It’s going to be a great event. We’ve had awesome feedback from the previous webinars that we’ve held. They are free, but there are limited places. So to get on that June Forex Insiders webinar, and to understand how we use limit orders and retracements and fib levels to achieve high reward to risk trades, get onto it. Send me an email right now, andrew@theforextradingcoach.com. Let me know that you’d like to reserve a place and I’ll send you a link.

Bye for now.

Episode Title: #413: How to Increase the Reward:Risk of Your Trades

Learn More About My Course. Click Here!

If you have been trading for less than 6 months, click here

If you have been trading for more than 6 months, click here

Click Here to Check my Recommended Brokers.

The 30 Minute Trader Trip

Watch how Andrew made a +12.79% gain on a live account during 4 weeks while trading for just 10-30 minutes a day while on holiday in the UK and France.

CLICK HERE TO ACCESS THE VIDEOS >>

Podcast: Play in new window | Download

#412: Achieving Great Trading Results

May 24, 2021

Achieving Great Trading Results

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#412: Achieving Great Trading Results

In this video:
00:24 – At the airport today
01:13 – Sharing comments from clients
01:42 – XAU/USD MN1 trade closes for 10.1:1 Reward:Risk
02:14 – Weekly Oil trades hit profit targets
02:35 – Webinar with clients and profitable trades
03:30 – We offer daily trade suggestions to follow
04:11 – Another client makes fantastic gains
04:42 – Contact me andrew@theforextradingcoach.com

Forex traders, all we want is results, isn’t it? Let’s talk about how we are achieving results and how our clients are achieving great results right now.

Hey, traders, Andrew here at the Forex Trading Coach with video and podcast number 412.

At the airport today

And as you can see, I’m at the airport, just been for a fly here and right behind me, we’re about to get an Air New Zealand plane taking off. So, it may get a little bit noisy. I’ve just come inside the hangar. Now with results for me, that’s what pays for this. Trading results pays for this, and without trading results, I can’t make that thing fly. I couldn’t have learned to fly without trading because of time to be able to learn to fly. I certainly couldn’t put fuel in it. And that’s one of my reasons why I trade, because I love to fly.

And for you, it may be different. It may be time off. It may be time with the family, whatever it is, but you’ve got to get results. That’s the important thing.

Sharing comments from clients

And I just want to share with you an email that came through last week from Sean, one of our clients, and he said, “Andrew, I’ve had a 8.44% gain this week, 11% for the month so far. Loving following the forum and the daily trade suggestions, helps cut out the leg work, which is good when you have limited time. Have a great weekend, Sean.” So that’s an 8.44% gain by Sean there and just shows what can be achieved.

XAU/USD MN1 trade closes for 10.1:1 Reward:Risk

We’ve had trades on our gold trade. Our monthly gold trade has just closed for a 10.1 reward to risk. Do you know that’s one of the very highest reward to risk trades I’ve ever had personally? Half percent risk on that equals a 5% gain on my account from that one trade that took literally about 30 seconds to place. That plane will be taking off shortly behind me here, so it’s going to get touch noisy for a second. We’ll just let that plane go. And he’s on the way now, so I can talk about more trades. Yeah.

Weekly Oil trades hit profit targets

We’ve had some oil trades that have done tremendously well. I don’t trade oil very often, but if you look back on your charts, back in around the middle of April, WTI West Texas and Brent crude oil, both were really, really good trades, had great profit on them. One made a 3.7 to one rewards risks. One made a 3.5. So that’s gone nicely as well.

Webinar with clients and profitable trades

Yesterday, I had a webinar with a client. They had a 12 hour chart trade, hit full profit on the Aussie Canadian. Yesterday, we mentioned a six hour chart trade for our clients on the pound US, which worked. We’ve had clients taking four hour charts that work. The beauty of this is, is it works regardless of the pair, regardless of the timeframe chart you are trading. We looked at the US dollar index. Again, not something we normally trade, but you look at Monday’s candle or Friday’s candle for Monday of this week on the US dollar index, it worked a treat. It works beautifully because the pattern is what works. We look for reversal patterns or we look for continuation patterns. That’s all we’re looking for. And it’s really simple to trade, really simple to see. And therefore all you need to do as a trader, is look at the timeframe chart that is showing the right setup that we’re looking for at the time. That’s all you need to do.

And… Sorry, as I’m driving my… Lucky I can fly the helicopter better than I can hold this gimbal.

We offer daily trade suggestions to follow

But that’s what we do. We offer people daily trading suggestions, webinars, live webinars, they’re gold. They’re invaluable information, [forum site 00:03:31], et cetera, all this information to help people to see and understand and be able to take with confidence, with low risk, high reward to risk trades, these very, very simple candle patterns. And they know exactly when to enter. They know exactly where to exit. The fib levels that we use are incredibly, incredibly accurate and ensure high rewards restraints.

So, that’s really what today’s session is about. It’s about the likes of Sean, that 8.44.

Another client makes fantastic gains

I’ve got another email here just received this morning from Rio. He has got in front of me here. I mean, I’ve printed it out. You can see the trades there off a screenshot. He’s got one, two, three, four, five, six, seven, eight, nine trades there. One trade’s lost. It lost him $10. And he’s only just joined us, just two weeks ago, and he’s had profitable trades of $19, $33, $38, 26, 21, 16, 30. So high reward to risk trades. That’s what we are about.

Contact me andrew@theforextradingcoach.com

If you’d like to know more, just send me an email, andrew@the forextradingcoach.com. And I’ll see you this time next week with more trading news and information. And I just filled the heli up with fuel. It’s time for a flight. Unfortunately, I can’t film me flying it because that wouldn’t be right, but it’s a lot of fun to fly. But like trading, there’s a lot of challenges as well, but do it right and it’s rewarding. Trading, flying exactly the same thing. Put the work in upfront, start slowly, get a good education, be sensible about it, treat it properly, and the rewards will be there.

So hope that helps. I’ll see you this time next week. Bye for now.

Episode Title: #412: Achieving Great Trading Results

The 30 Minute Trader Trip

Watch how Andrew made a +12.79% gain on a live account during 4 weeks while trading for just 10-30 minutes a day while on holiday in the UK and France.

CLICK HERE TO ACCESS THE VIDEOS >>

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