Weekly Video News & Podcast

#411: Can I Borrow $800k from You for 3 Months?

May 16, 2021

Can I Borrow $800k from You for 3 Months?

Podcast:

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#410: Can I Borrow $800k from You for 3 Months?

In this video:
00:37 – A conversation with my bank manager yesterday
01:00 – An investor with $800k and didn’t know what to do with it
01:48 – Do traditional investments still work today?
02:09 – How is our trading going?
02:55 – Don’t forget our manual trading and webinars
03:37 – What to do with your investments?

If you’ve got a spare $800,000 lying around, not sure what to do with it, can I borrow it for the next three months and give you $180 at the end of that, plus your money back? Does that sound a good deal or not? 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 411.

Now, if you’re watching the video, apologies for the red eye, got an infection. If you’re listening on the podcast, lucky you.

A conversation with my bank manager yesterday

I want to talk about a phone call that I had with my bank manager yesterday. True story. He phoned me yesterday, we were talking about our own mortgage rates, and while in two years are coming down slightly, a little bit lower, three to five year mortgage rates in New Zealand are going up slightly. But of course he knows what I do and we were talking about trading, et cetera. And he said, “Andrew, I need to tell you this.

An investor with $800k and didn’t know what to do with it

I had a guy come to me a few weeks ago with $800,000, just spare change, not sure what to do with it, doesn’t know what he’s going to do to invest it in.” And he took the decision, this guy to invest it in a term deposit for the next three months, because the term deposits in New Zealand have actually gone up slightly. They’ve gone from basically nothing to not much better. So, they’ve gone up a tiny, tiny amount.

The interesting thing was the bank manager said to me, he said, “In three months’ time, time this guy pays a bit of tax on his gains, his term deposit in three months on $800,000 will have made him $180.

Do traditional investments still work today?

That is all.” It just goes to show that traditional ways of thinking and investing are not really in today’s environment doing anybody any favours because let’s face it. If you had 800 grand to go and invest somewhere, and you’re going to get $180 back in three months, that’s going backwards in time the time you add inflation and everything else into it.

How is our trading going?

He asked me how my trading was going and I said to him that with our pattern trader software, we’ve got clients right now, we’ve got two on the top leaderboard that are over 75% this year on live accounts. 75% with small draw downs as well. I also told them about our echo trade copier, which I run on my own pattern trader bots and echo trade copier means that you can copy my live account completely automatically. Right now it’s up 24.5% and it started at the end of February, which is what? 10 weeks ago. So, 24.5%, draw down of 5%. So that’s what we’re doing.

Don’t forget our manual trading and webinars

Of course, then we’ve got our manual trading going on as well. Just last night, Paul, over in the US held a live webinar and there was a lady on there, Rose, who took three trades on the two hour charts. One got stopped out, the other two made profit. Just people are making profit all the time. We’ve got some great monthly chart trades going on, gold heading up, and we’ve got a couple on oil, WTI and Brend oil on the weekly charts that are moving up almost at the profit target. We’ve had 12 hour chart trace it profit, we’ve just got trades going all over the place on our manual trading that are going extremely well. People are making some great returns. Then we’ve got the automated trading as well.

What to do with your investments?

So, when you think about the traditional ways of investing and let’s face it, who has $800,000 set there, they’re just not sure what to do with, and it’s going to accept in three months time you’re going to get $180 back from the bank? Wow, that’s so exciting, is it not? The way that people now have to start thinking about their investments is just changing. That’s why the Forex market just offers so many tremendous opportunities to just have low risk, low draw down, but much, much higher gains.

Of course, you’ve got to know what you’re doing, or you’ve got to find someone that knows what you’re doing and we can help you on both of those, of course. We’ve just celebrated our 12th birthday last year, sorry, our 12th birthday last week, 12 years of helping clients all around the world. We love doing what we’re doing, we love helping people, we love seeing the success of people. If you’d like to know more, just send me an email, andrew@theforextradingcoach. Have a look around my website, do some research on us, do some reviews on us, have a look at the likes of Forex Peace Army, where we’ve got 151 reviews over the last 12 years. This works and if you want to join us, you know where to find us. I’ll see you this time next week. Bye for now.

Episode Title: #411: Can I Borrow $800k from You for 3 Months?

Click Here to learn more about the TFTC Pattern Trader

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 >>

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#410: 12 Years of Helping Traders, Will You be Next?

May 9, 2021

12 Years of Helping Traders, Will You be Next?

Podcast:

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#410: 12 Years of Helping Traders, Will You be Next?

In this video:
00:38 – Trading is not easy
01:10 – We celebrate 12 years of helping traders worldwide
02:06 – Trader makes 6% gain in 2 weeks since joining us
03:18 – The strategy has not changed since the beginning
04:45 – How does this help you?
05:45 – After the first 12 months
07:10 – Trade in 30 minutes per day

We’ve been helping traders just like yourself for the last 12 years now. Let’s see how we can help you to become a profitable and successful and independent Forex trader. Listen up, we’ve got some great news to share with you.

Hey, traders, it’s Andrew Mitchem here, the owner of the Forex Trading Coach, with video and podcast number 410.

Back outside again today. I’m getting lots of nice comments from people saying they’re enjoying the outside video. So here we are again by the pool today.

Trading is not easy

Now, trading is not easy. It’s something that’s made out to be easy, but the reality is it’s not easy. The reality is though that anybody can do it. And I’m living proof of that, having been a dairy farmer years ago. And I’m self-taught. I have no financial background in the markets at all. Completely self-taught.

But for the last 16, 17 years now, I’ve been trading the Forex market.

We celebrate 12 years of helping traders worldwide

And on Thursday, the 13th of May, we celebrate 12 years since I flew across to Australia to Noosa and taught my first ever client over there. We’re still in touch, still in contact, and he’s still trading. And after 12 years, we’re really proud to say that we have helped so many people around the world. We’ve got over 3,000 coaching clients who have been through the course in over 94 countries. That’s quite an amazing record that we’ve built up there of helping people.

As mentioned, the Forex market is not easy to trade. It really is not easy to trade. It looks easy. People will tell you it’s easy. The internet will tell you it’s easy. The reality is very different, and that’s why 90 to 95% of the people lose money.

Trader makes 6% gain in 2 weeks since joining us

But I’d like to share with you an email here, and it’s from a client who … We were on our last live webinar last night. I held a two-hour live European session webinar. The client’s called Henry. He’s been with us only two weeks. And he said to me, “Hey, Andrew, I’ve made 6% since joining you two weeks ago.” He said, “For the first time ever, I’m starting to understand what I’m doing, and I’m doing what I’m doing for a reason. And it’s working.”

Now, sure, it’s only two weeks in, but here’s a guy that’s been trading for quite a while. Like many of you, he was just literally tearing his hair out. Didn’t know what to do next. And he found us and he’s been on a few webinars now. He’s been following our trades, he’s on our forum site. And in only two weeks, he’s now made, since beginning, since starting with us, 6%. It’s a fantastic start and it just shows what can be achieved once you know you’re doing, once you have a clear understanding of what you’re doing, and you have some support and a system and a strategy that actually works.

The strategy has not changed since the beginning

When you think about it, the strategy has not changed at all in that time. In all those years, it’s not changed. Sure, the way that we deliver things has changed, it’s improved. Like everything, it evolves, it gets better and better over time. But the strategy, the main thing that you are getting when you join us here, the actual nuts and bolts of this is what we are doing and why, the understanding of that has not changed.

Just stop for a pause for a second and think about that. So many people chop and change systems all the time. They’re constantly adding things. They are adding a next indicator. They’re moving on to another system. They’re suddenly fundamental news traders. Then they’re not. Then they’re doing a bit of both. Then they’re not. And that’s the problem.

Yet what we have to teach you and to help you with has never changed. And it still works. And it’s been through all sorts of different market conditions. It’s been through different economical, political events all around the world, global issues, COVIDs, everything. All these things that get thrown at us by the market, and it continues to work.

It’s the person who put that together I’m immensely proud of. I’m just so pleased with the team that we have on board and the group of people that we have as a community that are just doing really well for themselves. It’s fantastic to see.

How does this help you?

So, how does that help you? Well, this Thursday … It’s Thursday my time, between 9:00 AM and 9:00 PM. It may start on your Wednesday if you’re in Europe or the US or Canada. But for 12 hours this week, we are holding our 12th birthday sale. It’s a dime sale, so it starts the price at the absolute lowest price. We’re going to give you 70, 70% off the normal joining fee.

So we’re putting a guarantee on that. We’re putting a 20% return guarantee to say that if our daily trades don’t make a 20% return guarantee over the next 12 months, we’ll give you a full refund. We’re giving you 12 months access to our daily trades, our live weekly webinars, our forum site. Unlimited access to the course itself, the strategy. Unlimited email access, unlimited access to the MT4, MT5 trading software. Our support site’s unlimited as well.

After the first 12 months

So after 12 months, and some people ask me this and say, “Hey, after 12 months, what’s the deal?” Well, for under $600, for just $597 US, after the first 12 months, you can get access to the daily trades, which you think about it’s over 200 days of daily trades per year, over 100 hours of live webinars per year, and our forum site for the year, ongoing. So there’s 597 ongoing. But you haven’t got to worry about that for over a year.

But what I do encourage you to do is to have a serious think about this if this is what you want to do. And I challenge you to go out there and find me anybody else, any other company, any other Forex-related business that’s been going for 12 years, that’s still going and still has a great reputation of helping people and achieving results for people. Just like Henry, 6% in the last two weeks, the first two weeks since he’s even joined. How good is that?

And it’s not just 6%. It’s 6% with very, very low drawdown. That’s the other thing you’ve got to be mindful of. It’s all well and good people saying, “Hey, I made 50% in a year,” but if you had a drawdown of 60%, 70% and you’re risking 3% or 4%, 5% per trade, 50% is not really that good, because your drawdown and your risk is so massive.

We’re doing this with tiny, low risk per trade, high reward to risk trades, without spending very long at the charts all day.

Trade in 30 minutes per day

I comfortably say to people that once you know what you’re doing, you can do this in 30 minutes a day and do very well from it.

So if that sounds like you, I strongly encourage you to click on the link that’ll be by this video somewhere to register your interest for the sale this week. We’re only 12 once. We’re doing it only for 12 hours. Get in near the beginning, because that’s when the price is going to be the cheapest. Take advantage of it and what we’re here to help. We love doing what we’re doing. We love our trading. We love our teaching, our coaching, our community, everything about it. If you’d like to be part of it, get on board this week. Don’t miss out. It’s a great opportunity. See you later. Bye.

Episode Title: #410: 12 Years of Helping Traders, Will You be Next?

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 >>

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#409: My Aims & Goals as a Forex Trader

May 2, 2021

My Aims & Goals as a Forex Trader

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#409 My Aims & Goals as a Forex Trader

In this video:
00:26 – Matt asked about my trading journey and goals
01:29 – Went to Auckland to take a Forex Course
02:05 – Anyone can become a trader if you really want to
03:03 – I developed a strategy and system that works for me
03:38 – Daily trades have been profitable every year
04:33 – Our team at TFTC
05:22 – Going forward from today
07:00 – TFTC Pattern Trader continues to achieve great results
08:55 – Ask me questions and register for our 12th Birthday Sale

Let me show you my aims and goals as a Forex trader over the next five to 10 years. And hopefully it might help you with your own goals. Let’s get into it right now.

Hey, Forex traders, it is Andrew Mitchem here at the Forex Trading Coach with the video and podcast number 409.

Matt asked about my trading journey and goals

Now on last week’s video, I got asked by a trader called Matt on YouTube, to explain about my trading journey to date, and also to explain a little bit about my own personal trading goals over the next five to 10 years. So, I started trading completely by accident around nearly 17 years ago. At the time I was a dairy farmer and I was milking cows, working seven days a week and ended up going through a divorce. And at the time had a two year old son. And to be honest, I didn’t really know what I was going to do in order to look after him, have an income.

And so I stumbled into trading completely by accident after hearing an ad on the radio all those years ago. And it kind of evolved from there to be honest. It wasn’t a deliberate move. It really was an accidental move, but as someone who’d always been, I suppose, self-employed, motivated, to me, it seemed like a really, really good thing to do.

Went to Auckland to take a Forex Course

So I went along up to Auckland, paid about $5,000 back then, which was a lot of money and did a course up there in Auckland. And the course, it was okay. But it got me into trading, and so here we are 17 years later and we’ve developed the Forex Trading Coach. We developed Pattern Trader. We’ve now got a new Echo Trade Copier, and things have changed massively and for the better. And I’ve got Forex trading, a lot of hard work, a lot of dedication, a lot of fails and some gains, to thank for that.

Anyone can become a trader if you really want to

And so Matt, thank you for your question because I think the important part out of this is that anybody can become a trader if you really want to. Now, realistically, it took me four years of trial and error, basically getting nowhere fast, of trying every single service, every PDF it was back then, that you could download every indicator, every expert advisor, every everything, basically, every forum I’d been on, and it just went round and round and round in circles. Anyway, so after four years, I thought, Andrew, you need to fix this. You need to make this work or you need to find a new hobby. And so I took everything off my charts and I made it work. I developed a system, a strategy that worked for me, and also one that didn’t require me sitting at the computer all day and night.

And that was the other thing, there’s so many strategies out there with scalping and things that all look really, really cool. But really they’re not long-term, practical and enjoyable.

I developed a strategy and system that works for me

So, I developed a strategy and system that works for me, and I’ve been now teaching that strategy and trading it myself. I’ve been teaching it for 12 years now at the Forex Trading Coach. We’re just about to celebrate our 12th birthday as well. And I’ll put details about that on this video and podcast for you. But over those years, we’ve helped so many people and my own trading has gone extremely well. The trading for the vast majority of our clients has gone extremely well. And we’re really proud, what we’ve developed over those years.

Daily trades have been profitable every year

As an example, for our daily chart trades that we post, and I’ve posted them on our membership site now for over 10 years, we’re into our 11th year of that, we’ve never had a losing year. They’ve been profitable every single year.

We’ve developed charts such as offline charts, we call them, for six hour charts, eight hour charts, 12 hour charts. It means we can look at the charts two, three, sometimes four times a day and trade full time and do other things, rather than just sitting, watching the charts and the computer all day, because that’s what you realistically need to do. One, if you’re starting and you’ve got other work, you’ve got jobs, you’ve got careers, you’ve got family, you’ve got hobbies. And two, when you decide or get to that stage where you can become a full-time trader, you want it to be enjoyable. You don’t want it to be an absolute grind. And yes, you’re making this fantastic return, but you are absolutely driving yourself into the ground by just being absolutely exhausted. And that’s not good either.

Our team at TFTC

So, my own trading, along with the Forex Trading Coach, we’ve developed a great team of people there now. We’ve got Paul Tillman over in America. And Paul started as a client with me probably seven years ago, very successful trader and then came on board with us here at the Forex Trading Coach. Paul looks after our forum site. He teaches my US webinar sessions. He teaches one-on-one online tuition. Fantastic trader, fantastic guy. And so we’ve built up the team. We’ve got Mikalai over in London who trades over there and helps teach our Russian speaking community. We’ve got Mhel in the Philippines and Mhel’s wife, Kim, who is on board with us as well for our tech help. Fantastic people, fantastic team based around the world.

Going forward from today

And so, going forward, that’s where we are today. Going forward, well, we’ve already got over 3000 people that are in our community. My aim is to build the best, the most transparent, biggest, most successful trading community of like-minded people. Now, when I say biggest, we’re not wanting hundreds of thousands of people, because that would just be a nightmare. We’re after people who really want to make this work for themselves. People who are motivated, dedicated to put in some effort, but also to get the rewards out of trading. That’s what we’re after, when we say a big group of people. People that just expect something for nothing, that think they’re going to press this button and it’s going to work for them, they’re not right for us. We’re not a good fit. We’re after people who are self-motivated. That’s why self-employed people work really well at trading. That’s why a lot of women make extremely good traders, because they’re a little bit more motivated and realise that good things take time, realise that some effort is needed, some dedication, some commitment. And if you’ve got that, you’re the perfect fit for us.

So going forward, more people like that. We’re still looking at building the team. Both Mikalai and Paul started as coaching clients and then did extremely well, and they developed into being on the team with us. So, when this whole COVID thing’s over and we can start travelling again, having some live group tuition, some one-on-one tuition all around the world, is a big aim for me personally. Of course, to keep my own trading enjoyable and profitable is a goal.

TFTC Pattern Trader continues to achieve great results

Pattern Trader is just developing into possibly one of the very best bits of auto trade software available. Results just continue to amaze us all and by results by so many different people as well. So, I’m looking at taking that to the next level, getting more and more people to have that blend between auto trading and manual trading. For those that don’t want to do any of the trading themselves, our Echo Trade Copier service is certainly a really good option that’s making some fantastic returns.

So for me, it’s about more of the same, helping people who want to help themselves. We’ve got a strategy that’s worked for all those years. It’s based on sound principles. It’s based on not needing very much time at your computer once you understand it and once you know what you’re doing. We help our clients with webinars, with real live time trading, daily trades, trades posted on our forum site, trades taken on our live webinars, European session and US session. We’ve got a great team of people, great team of support, lots of amazing trading software to make everybody’s life easier. So, that’s really where we’re up to. And so, that to continue is really what we’re about. So, that going forward, I love trading. I love the lifestyle that it offers, love the rewards and returns it offers. I love the coaching side of the things because of the people who we get to meet and talk to on a daily basis.

So, if you have any interest in trading, a really good option for you to consider coming on board with, if that’s what you want to do, we’ve just loved doing what we’re doing. So Matt, to answer your question more of the same, it’s fantastic.

Ask me questions and register for our 12th Birthday Sale

And anybody that has any questions, just drop me an email, andrew@theforextradingcoach.com. And don’t forget about our 12th birthday sale as well. I’ll put a link to that on this video and podcast somewhere for you to take advantage of that incredible sale that’s coming up on the 12th, 13th of May. See you soon. Bye.

Episode Title: #408: I Love Following Your Daily 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

#408: I Love Following Your Daily Trades

Apr 25, 2021

I Love Following Your Daily Trades

Podcast:

Podcast: Play in new window | Download

#408: I Love Following Your Daily Trades

In this video:
00:29 – Client loves the course and the ability to learn and earn
00:55 – The problem almost everyone else faces
02:19 – This is why we are different
03:07 – Our Daily chart trade suggestions
04:24 – This gives you confidence
06:05 – If you haven’t joined us yet
06:43 – Have any topics for future videos and podcasts?

“I love following your daily trades as it is allowing me to learn, but also to earn.” If you’d like to do that also, listen up. I’ve got some great news to share with you.

Hey traders, it’s Andrew Mitchem here, the owner of The Forex Trading Coach with video and podcast number 408.

Client loves the course and the ability to learn and earn

Now, that comment was from a client of ours called Jonathan, who’s been with us for just over six months now. Jonathan sent me an email saying, “Look, I’m just loving the course, but what I love about it the most is being able to follow your daily trades because not only as I’m learning the course, I’m following along in real time what you’re doing and why you’re doing it, but your daily chart trades are making me money, and that’s given me so much confidence.”

The problem almost everyone else faces

When you think about the problem of most people out there in the Forex world, whether you start a new course or a strategy or a follow along on a forum, whatever it might be, you’ll develop your own strategy, the problem is… Or there are many problems. The problem could be this, and you’re going to find one of them. You’re going to find that you’ve got no support. You don’t really know what you’re doing. You’re not really sure who to ask if there’s a question you have about the strategy or the concept. You’re doing it alone. You’re sat there taking the trade and you’re doubting yourself. You’re questioning whether this is the right trade to even take. Who do you ask? Who do you follow?

What almost always happens is that you’ll end up with some doubt, some trades that get stopped out, you start losing money, you start losing confidence. Then you give up with that strategy or that system altogether, and you go out there and repeat the whole process again, looking for the next holy grail system, the next crystal ball of farts results and the strategy that’s going to fix all your problems. This is the one that’s going to solve everything.

Guess what, the whole cycle happens again. Eventually you just give up trading and you blame the market, you blame the broker, blame the strategy, blame everything, but the real issue is that you had no support or no strategy in the first place.

This is why we are different

That’s what we do differently. That’s why after nearly 12 years… By the way, we’re celebrating our 12th birthday in May. We’ve helped over 3,000 clients and traders from 94 countries over those last 12 years. So it’s something we’re immensely proud of.

But what makes it different are many things. We have the course, the strategy that works and continues to work and always has done on different timeframes, various payers, all sorts of things like that. The strategy is massively important. We have email support, lifetime support. We have trading software. We have our incredibly valuable forum site and live chat. We have our live weekly videos and webinars that we trade live in front of our clients and have Q&A sessions, et cetera. All of that is immensely important.

Our Daily chart trade suggestions

But the part that Jonathan picked up on that I like to talk about now is our daily trade suggestions. They get posted each day at the close of the daily candle. Just after 5:00 PM, New York time of day, we post specific trades based off the daily charts. At the beginning of each month, we talk about the monthly charts. Beginning of each week, we talk about the weekly charts. We post strength and weaknesses as well on each week and each day.

But every day, you have trades that you can follow based off the daily charts. It doesn’t matter where you live in the world. You can place those trades. We’ve got clients in 94 countries. No one has an issue placing the trades. So don’t worry that I’m in New Zealand and you might be in America or Europe or different time zones. It doesn’t matter.

The beauty of this is that you can see the trades that we’re taking, learn from them because we put the exact reasons why we’re taking the trade. You can look at that in real time. We put the exact entry and exit levels, which we teach in the course, but you again can go and follow and learn from those. But you can earn from those trades as well. Because every single year, since I started posting our daily trades back in 2010, 12 years ago, every single year, we have been profitable with our daily trades.

This gives you confidence

What that does for you as the trader, as the learner, as the student is it gives you confidence because you can go and look at that and train your eye, develop your skills in real time. We’re not about hindsight trading. We’re not economists that say, “Yesterday, this happened, or last week that happened.” We’re about, “This is what we’re taking today, going forward and why.”

Some days we’ll be profitable. Some days we’ll not be profitable. That’s just the nature of trading, but every day we put our neck on the line, as it were. We’re saying, “These are the trades that we are taking and why,” and they are profitable. Overall, they are massively profitable for our clients. So it eliminates that self doubt. You’ve got people to ask, you got real trades getting presented to you with the reasons why, so you’re not sat there by yourself doubting yourself. “Should I take this? Should I not take this?” We’re taking these trades on our own live accounts anyway. You’re just there to educate yourself, to train yourself, to be able to do this for yourself on any currency pair, any timeframe, but with our help to start with.

Not only are you learning, but you are earning. That helps massively with the confidence because your live account, if you’re trading live, or your demo, if you’re right at the beginning, is going up in the right direction, which gives you confidence in the strategy and your ability. Massive, massive, massive boost to your confidence, boost to your trading account as well.

Jonathan, thank you for sending me that email. I massively appreciate that, and glad that after just over six months that you’re earning money and you’re learning and you’re enjoying the course.

If you haven’t joined us yet

If you’re not with us yet, I’m going put a link next to this video and podcast to the course information, so you can see everything that we provide and you can see the reasons why after 12 years, we are probably the number one Forex education company in the world.

I say that because after 12 years, I don’t know of any other companies that are still existing that were back 12 years ago. We continually help clients and we continually have profitable results and successful students. So if you’d like to join us, you know where to find us.

Have any topics for future videos and podcasts?

If you’d like me to cover any topics like this on future videos and podcasts, just send me an email to andrew@theforextradingcoach.com. We’re here to help. Bye for now.

Episode Title: #408: I Love Following Your Daily 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

#407: Trading the FX Market Hands Free

Apr 18, 2021

Trading the FX Market Hands Free

Podcast:

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#407: Trading the FX Market Hands Free

In this video:
00:25 – Following on from TFTC Pattern Trader
00:49 – Introducing Echo Trade Copier
01:48 – No VPS, no software, and turn your computer off
02:22 – Excellent results in 2 months
03:35 – All results are 3rd party verified by MyFXBook
04:17 – Contact me if you have a topic you’d like me to talk about

Would you like to know about a way that produces results and allows you to trade the Forex market 100% hands-free? If you would, listen up.

Hey, Forex traders. It’s Andrew Mitchem here at the Forex Trading Coach with video and podcast number 407.

Following on from TFTC Pattern Trader

Now, following on from last week’s video and podcast I made about our amazing trading bot software called TFTC Patent Trader, I’ve had a number of people say to me, “Hey, Andrew, look, I’d love to get the results and the returns that you get from trading the Forex market, but I just don’t have the time or don’t have the interest to really want to know how to trade. What is it that you can do to help us?” And so I have the perfect solution for you.

Introducing Echo Trade Copier

And it’s our trade copier software called Echo Trade Copier. Now, what that allows you to do is to have your trading account in your own name, and it’s completely independent of us. It’s your trading account with your broker of choice, have that account traded and mirror my own account that I use through Patent Trader.

Now, it’s an excellent way to allow you to gain some very, very high returns, but it also means that you don’t have to do anything at all. It literally is a five setup process through independent third party software that basically links your account to mirror the trades that I take on my account. Now, you can still jump in and intervene and close trades or risk more or risk less, if you really want to, or we can just leave it alone to have it mirrored 100% the same as my own account.

No VPS, no software, and turn your computer off

Now, for that, it means that you don’t need your computer on. You don’t need any virtual server. You don’t need any extra software. You don’t need anything at all. No expert advisors. You don’t need anything. All you do is just link the two accounts. It really is a simple process. All that included in that cost of the integration, it’s just $84 U.S. per month. And most virtual server companies charge $30 to $40 a month. That’s included in that fee.

And so we pay that for you as part of the $84 a month, and that just means that you then have everything copied across to your account.

Excellent results in 2 months

Now, this has been running for just two months, so it’s fairly new, but the results are outstanding. So far, in the two months, we are at plus 22.5% in gain, with only a 5.8% drawdown. Now, it’s really important that you understand that drawdown as well. It’s all well and good having a 22.5% gain, but the trouble is so many people risk far too much and they have massive drawdowns, and they might have a 30%, 40% drawdown to gain the 20% profit. So the reality is, that’s pretty tough to go through. What we find really important with our way of trading is our drawdowns are kept to a minimum. So right now 5.8% is the maximum drawdown you would have been if you had decided to join on the absolute worst day. And let’s say you had a $10,000 account, your account would be down by $580, the absolute worst day over the last two months.

But if you had started at the beginning and you started with $10,000, you’d have been up, what’s that, $2,250 so far in two months, 22.5% gain in just two months. Great returns, very small drawdowns and risk.

All results are 3rd party verified by MyFXBook

It’s also completely verified by Myfxbook, so it’s 100% a third party verified trading results as well. And so really there’s not a lot better you can get than that when you look at those results so far averaging a 10% gain per month. So have a look into it if you’d like to have your account mirrored on our account that we run on our pattern trader software. Just $84 U.S. a month is a great way to make some fantastic returns. It’s called echotradecopier.com. I’ll put a link on here on this video and podcast for you to go and check it out. Thanks for listening. Thanks for watching.

Contact me if you have a topic you’d like me to talk about

If you have any other trading questions or you’d like any other information that I can help you progress further with your trading, just send me an email to Andrew@theForexTradingCoach.com. And I’ll see this time next week. Bye for now.

Episode Title: #407: Trading the FX Market Hands Free

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 >>

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#406: How to Create Profitable Forex Robots in 2 minutes

Apr 11, 2021

How to Create Profitable Forex Robots in 2 minutes

Podcast:

Podcast: Play in new window | Download

#406: How to Create Profitable Forex Robots in 2 minutes

In this video:
00:29 – Creating bots in under 2 minutes
00:45 – TFTC Pattern Trader software
01:15 – My results for March
01:49 – How it works
02:28 – Leader board displaying the top 20 bots
03:22 – Signals arrive via Telegram
04:39 – Sign up for a 10 day trial
05:00 – Back test software and direct MT4 integration
05:38 – View the site for yourself https://tftcpatterntrader.com/

Would you like to know how to create profitable forex trading robots in just two minutes? If you would, listen up, I’ve got some fantastic news to share with you.

Hey traders, it’s Andrew Mitchem here at the Forex Trading Coach with video and podcast number 406.

Creating bots in under 2 minutes

And that’s right, you can now create profitable, real forex trading robots in under two minutes. Sounds a little bit far-fetched, doesn’t it? But honestly, it is true. And we have created some software called TFTC Pattern Trader.

TFTC Pattern Trader software

It’s software that we’ve been using now for almost one year. And up until now, pretty much everybody using it has been our forex coaching clients. But we are now in a position where we are able to offer this incredible trading software to the general public. So you don’t need to be a Forex Trading Coach client in order to start to use this now, to benefit from it.

My results for March

So just some quick numbers, March completed with my bots that I am using myself a 14% gain on my live account. Pretty much hands free. This month, so far April and bear in mind most of it’s been closed because of Easter and I closed off the bots just prior to Easter, just after Easter. So far right now, as I’m recording this on Friday, the 9th, I am up 4.5% on my trades. Again, pretty much hands free.

How it works

So the software quick description, first of all, it only uses my trading strategy. But you have the ability to create your own bots and you can literally create them by ticking a few boxes and then checking them for backtesting in under two minutes. It this quite incredible, like nothing else you would have seen. And the other thing you can do is you can use some of our ready-made bots.

You can use the exact same bot that I use myself, and I’ve made that 14% in March and currently up 4.5% so far in April, you can use exactly the same one. You can look at it, you can tweak it, you can add to it, you can do whatever it is you like.

Leader board displaying the top 20 bots

The other thing that we have is a leaderboard and the leaderboard displays our top 20 clients bots that they have created. And on the top 20, the lowest number 20 has had an actual return of almost 15, one fiver percent so far to date. The highest one so far has made 85%. Now, these are since their inception, they’re not annual returns. The annual returns are likely to be significantly higher. The other important thing to notice though, of course, it’s all well and good having great results. But the important thing to note is the drawdowns. And the drawdowns on almost all of the bots on the top 20 there are extremely low, most of them 5% and under. Yet they’re getting results of 15% up to 85%.

So you can also follow along with those as well, if you wish to.

Signals arrive via Telegram

And we use a great piece of software, which you’ve probably heard of called Telegram. And what happens is when the bot creates a signal, it goes through to your Telegram on your phone or your computer. You can look at it and you can see the trade and you literally press yes or no, and it will place the trade on your account for you. To take that one step further, we have the ability to completely automate the trading process as well. So the trades can be placed onto your account 100% automatically. And so there are various options there, depending on which level of the service you prefer to take. Now, even on the 100% automatic service, which is the one I use myself, I still manually look at trades and from time to time close part of trades or even close them in full, just depending on what the trade looks like itself.

But really, it really is about sort of, for me, 95% of the time it’s completely automated. And so the bots give you the ability to create your own bots with your own money management rules on pairs that you like to trade. And you can go through and fine tune those by eliminating certain pairs or timeframes or creating a group of bots to put together to make a portfolio. It really is a very simple process to do.

Sign up for a 10 day trial

And on our site, we are giving you access to the basic level of the software for 10 days, free of charge. After that, you can decide if you like the software and to be honest with results like we’re getting, you’d be crazy not to, but that’s your call. But if you’d like to then continue, you can then upgrade for a paid monthly or annual service.

Back test software and direct MT4 integration

The other thing is this, we have not only built in back tests software, which is phenomenally good software and data, but we also have built in your MT4 account gets built into the software.

So included in the price is the integration. You do not need to go and have your own virtual server. You do not need to leave your computer on or anything like that. It’s all built in to the package. All you need is either demo or when you go live, a live MT4 trading account and you can have those trades placed directly onto you live account, completely hands-free.

View the site for yourself https://tftcpatterntrader.com/

So what I’ll do is I will put a link to the software on this post. And if you want to have a look at it, I recommend it, try either joining for a month or two, or just try the 10 day trial. But the website is tftcpatterntrader.com.

So I hope that helps if you’d like to create bots in two minutes, really it is under two minutes. It is an incredibly simple process to create them. Or you can follow along with the bots that we’ve already created. It’s changing the way that traders are trading, and it’s there for you to take advantage of. Click on the link that will be on this post. And I look forward to sharing our incredible software with you. So once again, this is Andrew Mitchem here at the Forex Trading Coach. I’ll see you this time next week with more information, bye for now.

Episode Title: #406: How to Create Profitable Forex Robots in 2 minutes

Click Here to learn more about the TFTC Pattern Trader

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

#405: How Much to Risk per Trade and How to Calculate that Risk?

Mar 28, 2021

How Much to Risk per Trade and How to Calculate that Risk?

Podcast:

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#405: How Much to Risk per Trade and How to Calculate that Risk?

In this video:
00:29 – Email from a podcast listener
00:59 – How do you calculate your risk amount
01:20 – Download my MT4/MT5 Lot Size Calculator
01:55 – The logic behind lot sizing</span
02:38 – Lot size examples
04:58 – How to use the Lot Size Calculator trading script
05:27 – Know the stop loss size of your trade to calculate your lot size needed
06:29 – Email me any topics you’d like me to discuss on future videos and podcasts

How much should you risk per trade? And also how do you calculate that risk? Let’s talk about that and more right now.

Hi Forex traders, it is Andrew Mitchem here at The Forex Trading Coach with video and podcast number 405.

Email from a podcast listener

I’ve received an email this week from a trader called Diop, and Diop by the way you said you’ve started listening to all my podcasts and you’re currently up to number 202. You’re about half way; this is number 405. So well done for listening through to those. You said you’re really enjoying them and you understand the concept of… You said you’ve been looking online and you should risk somewhere between 1-5% of your account per trade. You also know that in my case I suggest that’s still way too high, and you should actually be half of that. You should actually be half of 1% risk per trade.

How do you calculate your risk amount

But your question is how do you calculate that and what do you do with your trading in order to make that happen? And to ensure that you have controlled risk but also some of those bigger stop-loss trades aren’t going to wipe out your gains.

I can see where you’re coming from, but also I think there’s a slight misunderstanding there.

Download my MT4/MT5 Lot Size Calculator

I’ve given you the very quick answer, the quick answer is to download my lot size calculator. It works on MT4 and MT5 and I will put a link on this video and podcast post so you can get a free copy. Of course, that applies to anybody who would like a free copy of that. It’s really, really easy and it takes you about five seconds to do. All you do with it is you drag it onto your chart, you put the stop-loss of the trade that you’re wishing to take, literally just type it in and press okay and it will tell you the lot size that you need for that trade.

The logic behind lot sizing

So the thing that you need to understand from a manual point of view, to understand the workings behind that, is that you have to understand that different currency pairs pay a different amount per pip depending on what the currency pair is and also what your own account denomination is. So Diop I notice you’re talking about your account being in pounds. So your account in British Pounds, let’s say with £100.00 would obviously be very, very different to my account with $100.00 New Zealand Dollars, or someone with $100.00 US Dollars. So it’s the account denomination that is affected plus it’s each individual currency pair that has different amounts per pip.

Lot size examples

But, for the sake of this, let’s say very easy round numbers. Let’s say we have a US Dollar account and we’re trading the Pound/US or the Euro/US. Notice that the US is second there in each of those currencies. If you’re trading one standard lot, that’s 1.0 lots, that pays $10.00 per pip. If you are trading a mini lot, that is 0.1 lots, that pays $1.00 per pip. If you are trading a micro lot, that is 0.01 lots, that pays $0.10 per pip.

Now let’s say for example, and again ease of numbers, so let’s say you have a $10,000.00 account. If you have that $10,000.00 account it means if you’re risking half of 1% on your trade it means you are risking $50.00 on that trade. So $50.00 per trade. It doesn’t matter what the stop-loss is, what the timeframe is. Let’s say it’s $50.00 per trade you are risking, because that is half of 1% of your account, which is $10,000.00. Okay? So let’s say you were doing that. If you have a 50 pip stop-loss, again for ease of numbers ease of calculation, you’re risking $50.00 you have a 50 pip stop-loss. Therefore, you need to trade at 1.0 lots. One mini lot on that particular trade. Because it means you’re risking $1.00 per pip. 50 pips goes the wrong way, it means you’ve lost $50.00 and therefore that means you’ve lost the pre-known amount on your account, which is half of 1%.

So let’s now use the example of a trade with a 100 pip stop-loss. Therefore, you need to risk half of the previous lot size because you’ve gone from a 50 pip stop-loss to a 100 pip stop-loss. Therefore, instead of risking 0.1 lots per trade, if you trade now has a 100 pip stop-loss, you need to risk 0.05 pips per trade. Five micro lots. Therefore, as another example, if the trade has a 25 pip stop-loss, you need to risk double. So instead of 0.1 lots you’re now risking 0.2 lots.

Now, that should be fairly straightforward. And if you struggle with that, just go through the numbers, the basic numbers and you’ll soon figure that out.

How to use the Lot Size Calculator trading script

But as I said, the easiest way of doing that is to forget the manual side of things, drag on my script, put in the stop-loss, it tells you answer. Because the great thing about the script is it knows your account size because it can read it off MT4. It knows the account denomination because it can read it off MT4, and it knows what chart you’re looking at trading because you’re dragging it on to that particular chart. Very, very simple. It’s a massive time saver. It keeps you risk-controlled and known.

Know the stop loss size of your trade to calculate your lot size needed

So, don’t forget. First of all you do need to know the stop-loss size of your trade in pips. It’s the only real time you need to worry about pips. You’ve measured the stop-loss of your trade in pips, but it is the lot size that you place on that trade that is the big determining factor that keeps your risk low per trade. Don’t just go placing 0.1 lots of a trade, or 0.05 or whatever it is. Don’t just do the same on every trade regardless of its stop-loss size or its currency pair that you’re trading. The important thing is that you have low controlled and known risks on every single trade. Therefore, you could trade a weekly chart trade that may need to have a 150 pip stop-loss, or you can trade a five minute chart trade that might need to have an eight pip stop-loss as an example. So every trade has the same risk, it’s the lot size that you place on that trade that is the thing that changes.

Email me any topics you’d like me to discuss on future videos and podcasts

So, Diop I hope that helps. If anybody else has any questions just like this, and thank you very much for emailing that through as well by the way. If you have any questions like this that you’d like me to cover on future videos and podcasts to help you out, we are here to help.

So once again, this is Andrew Mitchem at The Forex Trading Coach. Don’t forget to download my lot size calculator. It will be on this page. Bye for now, see you next week.

Episode Title: #405: How Much to Risk per Trade and How to Calculate that Risk?

Click Here to Download my FREE Lot Size Calculator

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

#404: Thinking of Giving Up Trading?

Mar 22, 2021

Thinking of Giving Up Trading?

Podcast:

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#404: Thinking of Giving Up Trading?

In this video:
00:27 – Adolfo, a trader from Mexico
01:15 – He could see the benefits of trading
01:55 – Ready to give up?
02:15 – Adolfo found my weekly videos and podcasts
03:20 – You were different
03:43 – Our 3000th coaching client

This trader nearly quit the Forex world a couple of years ago, is now back into it and loving it. If you’re in that position where you’re thinking about giving up this video’s for you, let’s get into it.

Hey traders, this is Andrew Mitchem here at the Forex Trading Coach with video and podcast number 404.

Adolfo, a trader from Mexico

I want to talk about a client of ours called Adolfo. Adolfo’s from Mexico. Now he got to a stage a couple of years ago where he quit trading. And, he’s only just got back into it but I want to give you a bit of a background about him first, because a lot of people would be in this very similar position. Now last week I sent out an email with the video that I had with Adolfo and I put a link on this video and podcast as well, so you can go and watch that if you’ve not already seen it, but the reason I want to talk about it again is because I’ve had so much feedback from people saying, look I’m in that position.

I’ve tried things, I’ve seen the merit in trading, I’ve seen the potential and Adolfo is exactly the same as you, if you’re thinking this right now.

He could see the benefits of trading

He could see the merit of trading, he could see the benefits of trading, he could see it as a way of building his wealth. But he’d been to a trading school over in Mexico and it basically taught him nothing. He said he actually came out of it with more questions than answers. He just did not get what he wanted, he didn’t get a strategy, he didn’t get any common sense out of any mentors or tutors. And it just didn’t feel that it was worth it, and he got disillusioned. And he’d spent a lot of money and committed a lot of time and it just wasn’t working. So is that that stage, where he’s, just ready to give up, just wasn’t working.

Ready to give up?

And if you’re in that position, you can relate to it. And we’ve all been there, I’ve been there as well, took me four years to really turn my trading around. And that’s a long, long time. It’s easy to say, Oh it just took me four years. But when you are in that situation, when you’re in the middle of that, it is tough. And I’m sure that you can relate to that.

Adolfo found my weekly videos and podcasts

So, a few weeks ago, back on the 11th of February, just five weeks ago. Adolfo found my video and podcast, exactly like you’re watching or listening to right now. He wrote to me, and he said, look I’m needing some help, I’ve been trying this, given up a couple of years ago, did this expense of school, wasn’t working, what can you do to help?

And so Adolfo went on to one of my free webinars for the whole each week, and he saw what we did and saw that we’re real people and real traders, and we’ve been doing this for nearly 12 years, and all the things that I talk about all the time, about a practical, real approach to trading and plus with the help and webinars and forums, et cetera, that we help our clients with all those different ways of trading. But it was the actual, real working, practical, approach to trading that Adolfo liked. So he jumped on board with us and you can see the video, I’ll put a link on here, so you can go and watch it.

You were different

Now Adolfo said, and I’m going to quote what he said. He said, “Thank you for your honesty. There are lots of schools, there are lots of people coaching, but Forex to me just didn’t sound fair until I met you. I needed someone with real life trading knowledge and teaching experience.”

And, that’s what he’s got. And that’s the difference I suppose, in many ways of how we can help people.

Our 3000th coaching client

Now, it Adolfo was actually not only lucky that he jumped on board and found us, but he was actually our 3000th coaching client. And so, you may recall a few weeks ago, I was holding a bit of a sort of offer, a bit of a promotion and the 3000th clients who joined us, and of course, no one knew who was going to get that, had the course completely for free. And that was Adolfo. So Adolfo not only he joined, but he then… and he’s really pleased with what he got. But then a week later we said, hey, you’re our 3000th client, here’s a full refund. So that was pretty cool.

So I’m going to be carrying on interviewing Adolfo over the coming weeks, coming months, coming years. And I’ll be updating and posting videos like this, giving you feedback from him and showing you how he’s progressing and how we’re helping him progress. So once again, I’ll put a link here. You can go and watch that video if you’ve not already seen it. I hope that helps. So this is Andrew Mitchem here at the Forex Trading Coach. I’ll see you this time next week. Bye for now.

Episode Title: #404: Thinking of Giving Up Trading?

Click her to watch Adolfo’s Intervew

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 Download my FREE Lot Size Calculator

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

#403: How to Profit as a New Trader with a Small Account

Mar 15, 2021

How to Profit as a New Trader with a Small Account

Podcast:

Podcast: Play in new window | Download

#403: How to Profit as a New Trader with a Small Account

In this video:
00:24 – Email from a guy who is looking at starting trading
01:05 – Joining a group of like-minded successful people
01:59 – Real examples from this week
03:12 – Profit from other traders
04:22 – Client mentions trade live on the webinar
05:00 – Learn the “How To” by following other traders
07:03 – Walk before you can run
07:17 – Our 12th birthday is in May

How can you profit in the Forex market if you’re starting with a smaller account and you’re starting out as a new trader? 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 403.

Email from a guy who is looking at starting trading

Now, this week I’ve received an email from a guy over in the U.K. who’s actually in the army, and he’s saying, “Look, I’m looking at leaving, but I want to ensure that when I start trading, I’m actually going to make some money. How do I do that? I’m new to this, I don’t know anything about it, and my concern is that when I start trading, because I’m new and I don’t know what I’m doing, I’m going to lose money and I’m going to lose confidence, give up, and it’s just not going to work. So can you give me some suggestions?”

And I went back to him and I said, “Look, there is nothing more powerful than being involved with a group of successful people. It doesn’t matter what you want to do.

Joining a group of like-minded successful people

If you’re into sports, you’re going to learn how to be good at that sport, let’s say, from sports groups and mentors, tutors, coaches. If you want to do good things in music, you go and join a band and you learn how to play as a group, that type of thing.” And I said to him, “Look, to be honest, trading is no different. Yes, you can do it alone. Yes, you can find things online and you may or you may not eventually make it work for you. But the problem is, is that eventually question is the problem, and what can you do to ensure that?” Obviously, this guy’s in the army, he’s a team guy, he works hard as a group, et cetera. And I said, “Look, all you have to do is exactly the same as that, but find someone like that in trading.”

Real examples from this week

And I want to give you some real examples from this week. These are real actual trades that we’ve taken, because I said to him, “Look, just look at this week as an example.” I said, “Well, February just gone, we had 6.2% on our daily trades, so you could have followed along with that.” Because my point to him was actually about why not follow good traders and profitable people so that you’re growing your account while you’re learning, rather than just throwing money away on just random trades and losing trades? So from this week, we’ve had a trade on the weekly charts that closed out with a 4.2 to one reward to risk on the Australian-Canadian dollar. It’s actually from the previous week, but it closed this week 4.2 to one. So risking half of 1% on that trade, 2.1% gain on your account. How’s that for confidence, just one trade?

On our forum site this week, we’ve had trades posted on the 12 hour, the eight hour, the six hour, the four hour, the two hour, the one hour, 30 minute charts, all profitable trades for people to follow along with. We’ve had daily trades that have gone well. Our breakout’s gone well. We’ve had a trade yesterday. This was an interesting one and a prime example.

Profit from other traders

As I was putting together my weekly live webinars for clients yesterday, yesterday afternoon, my time, up popped a post on our forum site saying, “Canadian yen, buy trade six hour charts.” One of our clients popped it on there and said, “Look, this is looking really good. When the candle closes in 10 minutes, this is looking good.” I was preparing the webinar. I went to look at the Canadian yen, and I wrote back to him and I said, “Look, this trade looks fantastic. I’m taking it.” And so I took it, posted it on the forum, put the screenshot on there. People could follow along because they get notified of posts like that.

And the trade has hit full profit, and on that Canadian yen trade, I made a 3.1 reward to risk. So half percent risk, again, just over another 1.5% account gain. Our daily trades closed just 10 minutes before I made this video, Friday morning here in New Zealand. 2.9 to one reward to risk. Again, pretty much a 1.45% account gain. That was posted on our membership site earlier this week.

Client mentions trade live on the webinar

On that live webinar last night my time, Hayden, a client of ours, mentioned towards the end a 30 minute chart trade on the pound-yen. We looked at it and we go, “Yep, Hayden, awesome. Thank you for writing that down.” He typed it in live on the forum. Made a 1.9 to one reward to risk. Pretty much a 1% gain, half percent risk on that trade. And currently right now, as I’m making this video, I’ve got live trades which have all been posted on the forum site or on our daily trade suggestions on our membership site. Currently, I’m up 1.5% on open trade as well.

Learn the “How To” by following other traders

So you put all that together and you think, “Well, as a new trader, wouldn’t I really want to be part of this?” Yes, the results are great, but it’s about learning how to do that as well and learning in real time following people, and basically you are educating yourself with a group of knowledgeable, experienced, real life traders. And that, to me, is the way for you if you’re a new trader or you’re starting out with a small account, is that you have to learn to do that and to see those trades and take those trades, and there is no better way at doing this. This is three different methods as well. By the way, we’ve got our forum site, our daily trades and our live webinars, so three different places to go and follow along and profit from what we’re doing. So follow good profitable traders while you’re learning and you’ll then develop into, like Hayden, who put the pound-yen on there, on the forum site, like the guy, Gillo, who put the Canadian yen on there as well on the forum site yesterday for me to follow.

And I profited from that because I wouldn’t have seen that trade otherwise. It popped up there, and to be honest, I wouldn’t have taken the pound-yen on the 30 minute chart either, because normally I don’t look at 30 minute charts. But there it was on the forum site. So I myself have profited from two of our clients posting really good trades this week. It happens all the time. There’s plenty other examples as well. But, look, if you are starting new, you’re starting with a small account, and you want to ensure that you make some money, but also you’re making a percentage gain, that’s the important point. Don’t look at it and jump in and go, “Well, on a $1000 account, I might’ve made $200 or $100 this week, and that’s not enough to live on.” You can’t expect to do that on a $1000 account. But what you have to do is go, “Well, look, I’ve made 10% on my account with low risk.” And that’s the important point, because eventually your account, when you get good, will grow, you’ll be able to put more money into it. Your account will grow itself.

Walk before you can run

So walk before you can run. Start small, but start properly first time. I hope that helps. I’m going to put a link on this page to our course. If it’s of any interest to you, you know where to find us. We’ve been doing this almost 12 years.

Our 12th birthday is in May

By the way, in May, we celebrate our 12th birthday here at The Forex Trading Coach. Not too many others can say that. We’re really proud of that. We’ve gone over 3000 clients now in 93 countries around the world. It’s worked over all those years. It just works. We love what we’re doing. We love helping people. We love seeing the success of our clients. If you want to join us, you know where we are.

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

Episode Title: #403: How to Profit as a New Trader with a Small Account

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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

#402: Your Investment Options are Limited

Mar 8, 2021

Your Investment Options are Limited

Podcast:

Podcast: Play in new window | Download

#402: Your Investment Options are Limited

In this video:
00:35 – Very low returns make headlines
01:37 – UK bank pays me 0.1% interest rate
02:02 – February Daily trades make +6.2% in February
03:15 – Options available if you don’t want to trade yourself
03:40 – TFTC Pattern Trader makes +7.2% gain for the week
04:44 – Forex Insiders March webinar: The Power of Divergence
05:59 – Future proof your own finances

Our daily trading suggestions made a 6.2% account gain just in the month of February. Would you like to know how we did that? And would you like to gain results like that for yourself? If you would, listen up I’ve got some great news for you.

Hey traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 402.

As you can see a beautiful day here, and so I figured we’ll come outside and make the video today in the sun.

Very low returns make headlines

Now, a really interesting news story here in New Zealand just this week, and it actually made quite a lot of headlines and it was about a bank who have decided to increase their term deposit rates to a massive 1.7%. Now it was huge news in terms of that was a substantially bigger figure than almost everybody else has, and it made me think about what options do people have when it comes to investing. Now obviously property worldwide seems to be going absolutely gangbusters and that’s fantastic. But when it comes to actually cashflow, there’s still a big problem with most investments. Now, for this bank to advertise a 1.7% return per year and to make big news out of it, you can tell how poor almost all other investments are.

UK bank pays me 0.1% interest rate

Now I still have a bank account over in the UK that I had when I was a kid, and it’s still there from when we could go over there on holiday pre-COVID. That’s paying me over in the UK a 0.1% interest gain. So pretty pathetic. And it just made me think about what else do we have as options?

February Daily trades make +6.2% in February

So as traders, we obviously have a massive advantage when it comes to potential gains. Now I tallied up our results from just our daily chart trades, so this is just on our membership site trades posted to clients on our membership site each day. We had a 6.2% account gain by taking just a half percent risk per trade. So very, very low risk. Something that takes five minutes a day, and all you need to do is follow along with what we’re suggesting anyway. That’s complete set and forget as well, by the way, close at the end of the week but no management. With some very simply trade management clients did a lot better than that. But even as a set and forget, that was a 6.2% gain just in the month of February. Just one timeframe as well, don’t forget. We also post other timeframe charts on our daily trading suggestions like monthly and weekly, 12 hourly etc. We post trades on our forum site and we post that several times a day, so do other clients. We take trades live on our webinars. Plus all the other trades that clients could take themselves.

So you can just see the enormous potential there from trading the Forex market but once you know what you’re doing.

Options available if you don’t want to trade yourself

Now, for some people they may not be interested in knowing how to do it, but we’ve got you covered as well. If you really don’t have the time or the will to want to know how to trade for yourselves, we’ve got a couple of options for you. One is called Echo Trade Copier, and that’s a complete set and forget, do absolutely nothing, get your account mirrored on our master account. That’s a really good option for people.

TFTC Pattern Trader makes +7.2% gain for the week

The other is our amazing trading software called Pattern Trader, TFTC Pattern Trader. Now, the Pattern Trader allows you to create trading robots based on my own strategy. The results of that have just been absolutely tremendous. Just this week, and I’m recording this on Friday so I’ve still got another whole day to go, but just this week my live account on my Pattern Trader account is up 7.2%.

Now will it make 7.2% every week? Of course it won’t. But this week it’s up 7.2% and I’ve done absolutely nothing with that, that’s completely hands-free apart from one trade I decided to manually close. But almost no manual ongoing input. Once you’ve got your bots created, and by the way it’s a simply process that takes you maybe five minutes, we have our own bots on there for people to look at and follow and use if they want to as well. But 7.2% just this week in four days. Again very, very low and controlled risk and draw down, which is absolutely crucial to trading.

Forex Insiders March webinar: The Power of Divergence

One other thing to tell you about, in March… So next week on the 10th of March, which is next Wednesday, I’m holding my monthly Forex Insiders Webinar. It’s free to attend. Last month we did a one hour live session on candle and the feedback from that was tremendous. Next week, or this week when you get this video, on Wednesday the 10th that is going to be on divergence and the power of divergence. Now, if you’ve got any interest in trading the Forex market you’ll know that I think that probably 99% of all indicators out there are completely waste of time, waste of money. But we use divergence and the power of divergence very effectively within our trading strategy. Now if you’d like to know how we do that, and this is a free session, I’ll put a link below this video on this page somewhere for you to be able to register and attend that webinar on Wednesday 10th. It will be a one hour live session, I really urge you to get there. It doesn’t matter where you live in the world, if you have any interest you really need to make the effort to try and get onto that session live. It’s going to be a good one.

Future proof your own finances

So I hope that helps. And if you really want to I suppose future proof your own finances, you can’t get excited by this 1.7% from a bank for a whole year interest rate. It’s terrible. But you can get excited by the daily trades making 6.2% in a month, or like this week with my Pattern Trader bots making 7.2% in a week. So there’s a big difference there. So the choice is yours. But if you’d like to jump on to the divergence webinar, just register using the link here and I’ll see you on that session on Wednesday. Bye for now.

Episode Title: #402: Your Investment Options are Limited

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

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