Weekly Video News & Podcast

#563: How to Capitalize on Q4 Forex Market Trends

Oct 7, 2024

How to Capitalize on Q4 Forex Market Trends

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#563:How to Capitalize on Q4 Forex Market Trends

In this video:
00:30 – Great trading conditions ahead.
01:06 – How has your trading been this year so far?
01:58 – What do you need to change?
03:12 – Book a call to talk with Paul Tillman.
04:07 – A link to our booking calendar.
04:28 – Join my free Masterclass
04:42 – Blueberry Markets as a Forex Broker.
05:58 – Comments, Like & Subscribe.
06:15 – Finish the year strongly

How’s your trading year been so far in 2024? We’ve got just three months left of the year that generally good trading months. What are you going to do to make sure you have a great final quarter of this year? Let’s get into that a more right now.

Hi there, Traders! It’s Andrew Mitchem here at The Forex Trading Coach with video and podcast number 563.

Great trading conditions ahead.

What has happened to this year? It is just absolutely flowing past. I know we say it every year, but this one seems to be even quicker. We’re now into the last quarter of the year. We’ve been through that northern hemisphere summer time with July and August are sometimes a little bit tricky to trade.

And now we’re into the last quarter. I think we’re going to get some very favorable trading conditions because of all the events happening in the world. And generally October, November, December give us very good trading conditions, and that’s what we need is traders. We need movement, we need volatility and we need to take advantage of that.

How has your trading been this year so far?

So my question to you is this how are you trading been so far this year. We’ve been trading since January. We’re now into October. How has that first nine months of the year been? Has it been like pretty ordinary, pretty average for you? Is it been really good? If it’s not been great, what are you going to do to make sure that you finish the year with better and improved results? What is it that you’re going to do?

Have you not met your trading goals? What needs changing? Have a think about that, because honestly, I think that October, November, December, the conditions generally are good. I think with everything happening in the world, we’re going to get we’re going to see some good market movement. And it doesn’t matter where we’re on the currencies or the metals indices, cryptos, the commodities, I just see great conditions.

So let’s take advantage of that together. Make sure that you are doing everything you can to, take advantage of the end of the year in these great conditions.

What do you need to change?

But it really also, I think, is important that we reflect so far that we’re three quarters of the way through the year. What needs changing from your point of view if you’re trading has not been quite as good?

What do you need help with? What do you need to change do differently? Because let’s face it, we continue doing the same old thing. Guess what? The next quarter is going to be the same old thing, and you’re going to get to the end of the year and you’re going to be disappointed. so I think it’s really important that they take advantage of these likely good conditions, but maybe change something in your trading if we can help.

Let me know. let us know. Leave a comment. ask questions because we’re all about helping traders worldwide. On our course, we have clients in 108 countries. You know, we’re a global community about helping people. So I think it’s really important that you reach out and ask questions. And even if it’s like other topics you’d like me to talk about and discuss on these videos and podcasts, I’m more than happy to do that because we want successful forex traders.

But also if you’re out there and you go, look, Andrew, I’m just trading cryptos or metals, then my strategy, the logic that we employ, works on all those different markets. And that’s the beauty of it. One strategy, multiple markets, multiple time frame charts.

Book a call to talk with Paul Tillman.

If you’re in the US or Canada, I’ve got some great news for you. Paul Tilman, who works with me. He’s been with me since 2015 when he started as a client. Paul did so well that I had to have him on board as part of the team. He runs our US Clients Webinars, he helps to moderate forum and he helps, look after people during the, US time zone. If you like to have a personal chat, a one on one chat with Paul.

If you’re in the US or Canada, let me know and I can send you his details and book a time with him. I can give you his email address and his personal phone number so you can book a time if you’re serious about your trading and wanting some help. and you’re in the US or Canada. Let me know.

Andrew@TheForexTradingCoach.com or send me a support ticket or put a link if you’re watching the video and I’ll send you through post details. It’s more than happy to help you with your trading. If you’re serious about trading, I want to make it work for you.

A link to our booking calendar.

If you’re outside of the US or Canada and you want to book a time with me or one of the team, I’ll put a link to our booking calendar as well. Fill out a very quick application form, make sure that we’re suitable for each other, and then book a time, and we can have a call to make sure that we can help you with your trading and take it forward with your trading in progress, so that you’re enjoying your trading and you knowing what you’re doing.

Join my free Masterclass

If you’ve not been on my 17 minute masterclass, I strongly recommend that you do that. Turn off everything. Just turn off all your, you know, emails and phone and Facebook and all that. Just focus on 15-20 minutes on the webinar and you got to learn so much from it.

If you out there looking for a high quality forex broker can highly recommend Blueberry Markets. I’ve personally been with them and have funds with them and been with them since they started.

They’re great bunch of people. I’ve met them in person. I contact them regularly each week. We’ve sent hundreds, if not thousands of people through the blueberry markets, and we always hear the same feedback. They’re great people, exceptional service, wonderful platform, lots of different markets, tight spreads, everything that you’re looking for from a forex broker. Plus they have the other markets on MT5 such as the commodities, the cryptos, the indices, metals, etc. that we talk about all the time.

Blueberry Markets as a Forex Broker.

So if you’re out there looking for a broker, put a like give some thought and have a look into blueberry markets, I’ll put a link to them here so you can go and check them out and decide for yourself if you’d like to go with them. But honestly, there’s so many. I’ve had about 5 or 6 different brokers emailing me just this week because I know Andrew, would you help promote us?

And I say to them, no, I only promote people who I personally like, and I personally have used myself and I’m satisfied that I can then go and say, hey, here’s someone I think you should consider. Blueberry markets are definitely one of those companies, so have a look at them. Have a look at the link I’ll put here.

If you’d like me to discuss any topics or trading questions that you have, just reach out to Andrew@TheForexTradingCoach.com. Put the link here for you. I’ll put a link to that as well.

Comments, Like & Subscribe.

If you’re watching, on YouTube or some format on video, fill in the comments with your topics and I’ll cover them for you.

Finish the year strongly

But look, let’s make the next three months. Like I said, that generally pretty good trading conditions October, November, December. With everything going on in the world, I think they’re going to be very volatile. Lots of movement, exactly what we want. Take advantage of that. Know how to trade properly with low risk, high reward to risk and to know. Look at your charts and know exactly what to do and why and when.

If you need help, we’re here to help make it work for you. I hope that helps. This is Andrew here at the Forex Trading Coach. I see this time next week. Bye for now.

Episode Title: #563: How to Capitalize on Q4 Forex Market Trends

Find out more about Blueberry Markets – Click Here

Find out more about my Online Video Forex Course

Click Here to Attend my Free Masterclass

Book a Call with Andrew or one of his team now

Click Here to Watch Prop Firm Masterclass

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#562: How Live Sessions Can Transform Your Trading

Sep 30, 2024

How Live Sessions Can Transform Your Trading

Podcast:

Podcast: Play in new window | Download

Find out more about Blueberry Markets – Click Here

Find out more about my Online Video Forex Course

Book a Call with Andrew or one of his team now

Click Here to Watch Prop Firm Masterclass

#562: How Live Sessions Can Transform Your Trading

In this video:
00:27 – You need someone to show you how to trade.
01:23 – We trade and post in real time.
01:52 – Live webinar trades make +2.1% gain.
04:10 – This is invaluable information.
05:37 – My 17 minutes Masterclass and Book a Call.
05:56 – Blueberry Markets as a Forex Broker.
06:13 – Comments, Like & Subscribe.

I’m going to explain this week why live trading room webinars work and how they can massively help you with your trading success. So let’s talk about that a more right in that.

Hi there, Traders! Andrew Mitchem here at the Forex Trading Coach with video and podcast number 562.

You need someone to show you how to trade.

Now different ways of learning how to do anything. whether it’s trading or for me doing karate or learning to fly a helicopter or a guitar, whatever it is, you need someone to help you and to show you and to be able to refine things and trading’s exactly the same.

You see, you can go online and you can look on YouTube in different places and you can have video course just like our one, and you can go through and read things and see some videos, and that’s all well and fine. But the trouble is in trading is to make any money in trading, you have to have the ability to do this in real time.

You know, it’s all well and good looking through some books and seeing some waves and retracements. And we did this at this point and look at this massive trend and you know, and there’s so many videos and I see with millions and millions of hits on YouTube, but all they’re doing is showing you with hindsight what happened.

We trade and post in real time.

And the reason that we do so well, as do our clients, is we do everything in real time. We’re not about hindsight. We post our trades every day for people to follow in real time. We put our trades on our forum site on the shorter time frame charts in real time, and every week we hold a live two hour trading room webinar one weeks in the European session with myself. The following week is in the US session with Paul Tillman, who lives in the US.

Live webinar trades make +2.1% gain.

And yesterday I held a live European session, webinars, a two hour session where all our clients can jump on to, they all get recorded as well.

So if you cannot attend live, you can go and watch the recording. And by the way, we have all the recordings dating back to 2010 on our website. So vast amount of very valuable information now on the webinars. The beauty of them is they are live. There’s no like cherry picking the hand, picking the best trades. you know, we’re talking about trades, we’re discussing trade set ups, etc. live in real time. And obviously no one knows the result of what we are saying, we are taking.

Now on yesterday’s session at the end of the webinar, which ended at 5 a.m. Eastern Standard Time, which is in the European session, we took some trades and I posted and took three trades in front of our clients. We had a EUR/GBP 6 hour chart trade sell. Which had a beautiful retracement and hit the profit target, both positions hitting the profit target.

We had a Netherlands 25, the index 2 hour charts trade one position got filled and it was stopped out. And we had a, two hour trade on the gold against the Australian dollar. Both positions got filled and hit their profit targets.

Now the EUR/GBP made a 2.7 to 1 reward to risk a 1.35% gain. the Netherlands 25 lost a quarter of 1% because it was stopped out and the XAU/AUD had a 2 to 1 reward to risk or 1% gain.

That gave us with only a half percent (0.5%) risk per trade total split over two positions. That gave us a net gain of 2.1% on our account. So 2.1% over three trades taken at the end of the session live in front of everybody, so all our clients could follow along and take those trades and learn from them as well.

And that’s the beauty of this. It’s about doing this in real time, where we discuss the trade setups and we take the trades, and we encourage people to talk about what it is that we’re looking at at that time to say, yes, this is a good trade on. No, this is maybe not such a good trade, of which we did have a couple of those as well that were almost, but not quite as good as we are looking for.

This is invaluable information.

And so you cannot beat that information. As someone watching and learning and participating, you’re part of the community. You’re watching a full time trader explain the system of why they’re doing what they’re doing, so you can learn in real time.

Again, I go back to my karate days. You know, I could watch videos all day long, but unless I get an instructor saying, hey, just do this, just move this way. Just rotate your arm this way, just pull your toes back when you’re doing a kick just to do these things differently in real time with a real person there, you cannot beat it. Same as the guitar. Right now I’m learning the guitar. Yes, I can do some online. exercises and learn a few different things, but if someone set, there they go.

Hey, Andrew, why don’t you just try this or move the finger this way or strum this way? Definitely. Or change you chords from here to here instead of, like, the traditional way. All these little nuances that will massively help you.

And again, trading is no different. You need someone there to hold your hand to show you this is what we’re doing. Yes, you could do this, but if you do it this way, it’s a little bit better and you can improve things in fast track things.

Now obviously with trading, you’ve got your mindset and your loss of money. If you’re not doing this well. And again, very valuable to be able to have someone there to help shortcut those things and, eliminate those errors and improve. And that’s exactly what we do.

My 17 minutes Masterclass and Book a Call.

So if you’d like to find out how we do this, I’ve got a short 17 minute on demand masterclass, which you can log in and view at any time, and I’ll put a link to that.

If you’d like to book a call to have a chat with one of us personally, for about a 30 40 minute chat, you can do that. other with myself or one of the team.

Blueberry Markets as a Forex Broker.

And if you’re out there looking for a very good broker, I took all those trades on Blueberry Markets and including the, the XAU/AUD, which some brokers won’t have, including the Netherlands 25. Again, which some brokers won’t have. Blueberry on MT5 have them all and I’ll put a link to Blueberry Markets as well.

Comments, Like & Subscribe.

Don’t forget if you’re watching to like and share and subscribe any topics or conversations you’d like me to cover for you in future videos and podcasts just like this.

Please send me an email Andrew @TheForexTradingCoach.com or leave a comment and I’ll see you this time next week. Happy trading. Bye for now.

Episode Title: #562: How Live Sessions Can Transform Your Trading

Find out more about Blueberry Markets – Click Here

Find out more about my Online Video Forex Course

Book a Call with Andrew or one of his team now

Click Here to Watch Prop Firm Masterclass

Podcast: Play in new window | Download

#561: Why Every Trader Should Consider Using Limit Orders

Sep 23, 2024

Why Every Trader Should Consider Using Limit Orders

Podcast:

Podcast: Play in new window | Download

Find out more about Blueberry Markets – Click Here

Find out more about my Online Video Forex Course

Book a Call with Andrew or one of his team now

Click Here to Watch Prop Firm Masterclass

#561: Why Every Trader Should Consider Using Limit Orders

In this video:
00:24 – How to best enter a new trade.
01:11 – I mostly use Limit Orders.
02:17 – The benefit of using Limit Orders.
03:53 – Other things which add to a trade setup.
05:00 – My 17 minutes Masterclass and Book a Call.
05:30 – Blueberry Markets as a Forex Broker.
06:01 – Comments, Like & Subscribe.

What’s the best way to enter a new trade to make sure that you get the best possible outcome? Let’s discuss that really important topic and more. Right now.

Hi there, Traders! Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 561.

How to best enter a new trade.

Today I want to talk about how you can enter a new trade and how you can get the most out of your trade by doing a few clever things. So there are a couple of options that we have, or three really.

you can enter what’s called a market order, which means you jump into the trade straight away, and it’s what most people do. or you can use a stop order. And for a stop order, it means on a buy trade, you’re buying above the current price. And for a sell trade, it means you’re selling below the current price.

Or you can use a limit order or a retracement order. And a limit order means on a buy limit. It means that you’re buying below the current price. And on a sell trade, it means you’re selling above the current price.

I mostly use Limit Orders.

Now, I’m a big fan of limit orders, and this how I place the vast majority of my trades. And the reason I do that is because I know that the market is not a straight line. You have a look at most charts and most markets and most timeframes, and you’ll never see, a perfect straight line. You will never see a candle close and the next one just open and go in the perfect direction. Most times you will find there will be some form of upper or low wick on a candle, and there will be some form of, movement.

Let’s say the market’s moving upwards. and a candle opens most times within that candle’s, formation. Let’s say it’s either H4 chart or our daily chart or whatever it is. Most of the time it will go up, it will come back, it will go up again, maybe come back again, and then finally go up. so you get retracements all of the time in pretty much every market and every time frame.

The benefit of using Limit Orders.

And so by using limit orders, what it does is it means we get in at a better price. It means that we, on a buy trade, we see the market at a certain level. That means we have buying if it pulls back to a lower price first, and if the market then heads turns around and heads in our anticipated direction, by the time it gets to where the candle opened, you’re already in good, positive territory.

And by the time it gets to a profit target, you’ve made really good money. Now, what that does is it drastically improves the reward to risk that you get out of your trades. So go and have a look at any chart and you have a look at let’s say you imagined, you took a trade at the market as soon as the next candle opens.

And then you have a look at how much you’re going to make in terms of your stop loss, your profit target, and the reward to risk from that trade. And then do the same thing again with that same setup. Go, okay. But if it’s moving up and it’s buying, what happens if I bought below the current price and I’m first, looking for the market to pull back now of course, for the limit order, you’re not sat there waiting for all this to happen.

You’re just simply saying I’m putting a buy limiting at this price. And if the price pulls back, it gets you filled and then hopefully moves up in your anticipated direction. So have a look at how many times that happens. I think you’ll be amazed at how often that happens if you have a good setup.

Other things which add to a trade setup.

Now, a few other things that we add to that is let’s say again, assuming we’re buying, we’re buying below the current price.

If the, buy limit order is just above, let’s say a round number of previous swing low or the pivot point or some form of support level below it. Quite often you’ll find that the price will come down and get filled. And that support level, whether it be a swing low to the left or right number below it, will hold.

And the price then turns around at that level. So you’re not only entering just simply because it’s below the current price limit order you’re ordering. You’re taking that order with some safety net below you to look for the price to bounce and then move up again. So all the time we’re adding more and more layers of confirmation and confidence to our trades to give ourselves a high probability chance of a successful trade.

So have a good look through your charts. Consider using limit orders. It will massively improve your returns and the reward to risk that you get out of your trades.

My 17 minutes Masterclass and Book a Call.

If you’d like to know more about how we do this, have a look at my free on demand masterclass. It’s only 17 minutes. It’s really quick. It gives you a lots of just fast paced, information about how we trade. Some chart examples and how we can help you with your trading.

And if you’d like to book a call with either myself or one of my team, you’ll find the link on here on this, video podcast. To be able to book a call up and have a chat with us about your trading and how we can help you.

Blueberry Markets as a Forex Broker.

And finally, if you’re out there looking for a high quality broker and highly recommend Blueberry Markets, they based in Australia, but they can take clients from most countries around the world. They have the MT4 and especially the MT5 trading platform, which has multiple time frame charts, multiple markets, both forex and non forex markets. Great bunch of people. Brilliant in terms of their customer service, their execution of returning, withdrawal funds etc. like that. great spreads lots of markets, lots of choice. I’ll put a link to blueberry markets as well.

Comments, Like & Subscribe.

If you have any questions or topics you’d like me to talk about and discuss for you on future videos and podcast just like this one, send me an email Andrew@TheForexTradingCoach.com or add a comment if you’re watching this on YouTube.

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

Episode Title: #561: Why Every Trader Should Consider Using Limit Orders

Find out more about Blueberry Markets – Click Here

Find out more about my Online Video Forex Course

Book a Call with Andrew or one of his team now

Click Here to Watch Prop Firm Masterclass

Podcast: Play in new window | Download

#560: What Makes a Forex Trader Successful? Top 5 Traits

Sep 16, 2024

What Makes a Forex Trader Successful? Top 5 Traits

Podcast:

Podcast: Play in new window | Download

Find out more about Blueberry Markets – Click Here

Find out more about my Online Video Forex Course

Book a Call with Andrew or one of his team now

Click Here to Watch Prop Firm Masterclass

#560: What Makes a Forex Trader Successful? Top 5 Traits

In this video:
00:32 – My Top 5 Traits I see in profitable Forex traders.
01:22 – #1 They know and understand their strategy.
02:24 – #2 They understand money management and risk.
04:25 – #3 They are dedicated traders.
05:54 – #4 They remove emotion from their trading.
07:17 – #5 Don’t reinvent the trading wheel but be adaptable.
08:54 – My 17 minutes Masterclass and Book a Call.
09:21 – Blueberry Markets as a Forex Broker.

I’m going to give you my top five traits of what it takes to become a successful, profitable and independent forex trader. So if you’re not yet profitable, you need to listen to these five traits and adapt them and adopt them as part of your trading plan. Let’s get into that a more right now.

Hey there, Traders! It’s Andrew Mitchem here, the owner of the Forex Trading Coach. For video on podcast number 560.

My Top 5 Traits I see in profitable Forex traders.

So today I want to give you my top five traits of where I see, profitable forex traders what it takes to become a profitable trader but also independent profitable forex trader. you know, without copying and following other people all of the time.

Now of course, when people are new, it’s great to be able to do that. But over time, you want to be able to do this for yourself without the reliance on another website or another person. And that’s what I call a successful trader. Now, I’ve been trading the forex market for over 20 years full time, and I’ve been coaching for over 15 years.

We’ve got clients in 108 countries right now. So I’ve got a fair bit of experience and I’ve seen all sorts of different types of people come and go, and I know what it takes to become a successful trader.

#1 They know and understand their strategy.

So first thing is, number one trait of a successful and profitable trader is they know their strategy there now inside out, upside down.

Now they may have created it. like I did. They may have purchased it like you can do for us at The Forex Trading Coach. a proven strategy, however it happens. They know and understand that strategy. They know it completely. They know the ups and downs of it. They know all the details, but it allows them to trade with confidence, knowing that that strategy has been proven over time.

And so having that complete confidence and faith in what they’re doing is absolutely crucial. You wouldn’t believe how many people I get come to me that have got these strategies. And I asked him a question and they don’t know the answer about it because they don’t really know what it is they’re looking for. And so the number one trait, you have to have a strategy that suits you as a person and as a trader and your available times, etc.. That’s been proven over, you know, a long period of time to work across multiple market conditions and changing conditions. So number one, confidence and ability to trade your strategy is absolutely crucial.

#2 They understand money management and risk.

Number two, you have to understand money management risk management. You have to trade with low risk per trade. Forget about pips like people that make x number of pips or risk x number of pips per trade.

It’s never going to work. You have to understand the market and you have to, trade with a stop loss. That’s, correct. For that time frame of the chart, the movement in the market right now, the pair that you’re trading, etc.. So when you have a trade. For me, every trade I take has a very low equal.

It’s a predefined risk level as a percentage of my account. And so whether my account $1,000, $100,000 or I’m trading our prop firm with half of million, it does not matter. I trade the trade. Its risk is always x percent of my account. And so as your account starts growing, you’re risking more money per trade. But it’s still the same percentage.

Likewise, if you end up having some losing trades and let’s face it, everybody does. As your account starts going down, you’re risking a smaller amount per trade, but it’s still the same percentage of your account balance. So understanding that and also it extra things like you know not doubling up on trades and people potentially using martingale systems and all these type of things or no stop loss at all, or different stop losses depending on the time frame of the chart.

All these small things, to me, all of that doesn’t work. You have to have low control, equal risk on every single trade. High reward to risk. So when you have profitable trades, they’re making like 2, 3, 4 or 5 times your risk. So that’s really important.

#3 They are dedicated traders.

The third point I see the dedicated traders as being the successful ones. You’ve got to be dedicated. You’ve got to stick to your plan. Except there are ups and downs and be consistent in what you do. Now, the market is never consistent. There will be times where you have, profitable days, losing days, profitable weeks or even months and losing weeks and months is just happens. It’s part of trading, you know, it’s not a straight line.

So you have to be accepting of that. But you have to be consistent in showing up. You cannot be one of these people who goes.

#4 They remove emotion from their trading.

And this brings into point number four, which is, successful traders are not emotional when they’re trading either. So three and four kind of combined as in, you can’t have let’s say, run a winning trades and then you do something stupid and you just think the market’s just going to be wonderful, and and then you’ll fail all the time and then you go and blow it.

Likewise, if you have a few losing trades, you can’t get, I’m just not going to trade. The market’s not in my favor. It’s all against me. And you don’t stick to your plan and you miss out on good trades. So having that consistency of showing up, doing the same thing all the time, when you see the pattern that you’re trading or whatever it is that you’re looking for, you take the trade.

You see the trade, you take the trade. And when it comes to the emotion and I’m point number four, I like the phrase of I like because I’m a technical trader. I like to trade what I see and not so much what I think as in you can read the news, you can hear news events, you can listen to, you know, TV, radio, internet commentary, whatever it might be.

And you sometimes run into that danger of thinking this is going to happen. Now. Classic example might be cryptos or metals. Everybody says our gold is going to go up or Bitcoin’s going to go up. And so everybody’s just thinking, oh, I’m just going to buy those. And they may have according to the plan in their strategy, the perfect sell trade.

And they’re not taking it because or they’re risking, you know, they’re taking a smaller position size or something like that. So trade what you see. the market’s going to do what the market wants to do, regardless of what you think I think or anybody else thinks. So trade what you see that’s really important that you do that and keep your emotions out of it.

You know good trades will happen. Losing trades will happen. So keep your emotions low. Trade like the patterns. Play the game. It’s probabilities. You know, there’s nothing absolute 100% certain in any form of trading strategy at all. Even an A plus set up will sometimes lose just the way it is.

#5 Don’t reinvent the trading wheel but be adaptable.

Point number five don’t reinvent the wheel. But also a good trader is adaptable to change as well. Now, what I mean by that is don’t reinvent the wheel. That when you have a strategy that works, if you have a few days or a week or so that it loses. Don’t go reinventing the wheel. Don’t go out there searching for the next system or adding the next indicator, or adding the next expert advisor.

And all these things don’t do that. If you’ve got a strategy and a system at work, stick to it. But also what I mean by being adaptable or the classic example is this over the last number of years and you have heard me talking about this, we have added, more currency pairs to what we have available to trade.

And that’s thanks to the brokers. on MT5 there’s more time frame charts. There’s more markets, like a lot more metals. That used to be just gold and silver. And now it’s like XAU/JPY, XAU/GPB, XAG/AUD, etc. like that. You can have like the coppers, you can have the indices, you can have the metals, you can have, you know, like I mentioned a few weeks ago, sugars and coffees and things like that.

So you’ve got Hungarian Franc, you’ve got Norwegian Krona, you’ve got Swedish Krona. So you’ve got all these other, forex pairs, and other markets and more time frames like, 4 hour charts and 6 hour charts and 12 hour charts. You know, to adapt to the market of what we have available. Yes, is good, but don’t go reinventing the wheel and trying to create something just because you’ve had a few losing trades. So you put those five points together, you’re going to give yourself a really great chance of success.

My 17 minutes Masterclass and Book a Call.

Now, if you’d like to find out more about how we trade and how we teach and how we can help you, have a look at my masterclass. It’s a 17 minute On-Demand free masterclass. I’ll put the link to it so you can jump on board and watch that when it works for you.

If you’d like to book a call with me or one of the team, I’ll put a link to that. And you can, have a 30 40 minute, chat with us to decide if we’re the right fit for each other.

Blueberry Markets as a Forex Broker.

And if you’re out there looking for a really good broker, I can strongly recommend you have a look at Blueberry Markets.

I’ll put a link to them as well. They do offer MT4, but also more importantly now MT5. they’ve actually got a new prop them running as well, which has been running for the last few months. And with their MT5 platform, you do have access to so many of those extra markets, plus time frame charts that I talked about.

So I hope that helps. If you’re not profitable right now and you want help, please do ask and seek help. And, we have, as I said, a strategy that I’ve been, trading myself for about 17 years now, trading myself for 20, getting close on 21 took me close on four years of making nothing before I developed what I have now, teaching for more than 15 years.

So it’s well and truly proven. If you if you’re lacking the strategy and the confidence in your strategy, we can certainly help you there when it comes to risk management and emotion and things like that. All of that combines, by the way, if your risk is low and controlled, your emotions are under control. The whole thing all blends in together.

But you put those five points together, you’re going to give yourself a very high chance of being a successful and independent forex trader.

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

Episode Title: #560: What Makes a Forex Trader Successful? Top 5 Traits

Find out more about Blueberry Markets – Click Here

Find out more about my Online Video Forex Course

Book a Call with Andrew or one of his team now

Click Here to Watch Prop Firm Masterclass

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#559: How to Fast Track Your Forex Trading Success

Sep 9, 2024

How to Fast Track Your Forex Trading Success

Podcast:

Podcast: Play in new window | Download

Find out more about Blueberry Markets – Click Here

Find out more about my Online Video Forex Course

Book a Call with Andrew or one of his team now

Click Here to Watch Prop Firm Masterclass

#559: How to Fast Track Your Forex Trading Success

In this video:
00:28 – It took me 4 years to become a profitable trader.
02:00 – We post specific trades every day based on the Daily charts.
04:52 – W1 and MN1 chart trades.
05:18 – Live weekly webinars and our Forum site.
07:02 – My 17 minutes Masterclass and Book a Call.
07:14 – Blueberry Markets as a Forex Broker.
07:36 – Comments, Like & Subscribe.

Would you like to fast track the amount of time it’s going to take you to become a successful and profitable forex trader? If you want to shortcut your time, listen up. I’ve got some great tips for you coming up right now.

Hey there, Traders! Tt’s Andrew Mitchem here at The Forex Trading Coach with video and podcast number 559.

It took me 4 years to become a profitable trader.

Now some of you may already know my story. If you don’t. Back when I started trading, it took me around four years to become what I would call a profitable trader. That’s a very long time. Lots of long hours staring at the charts, lots of reading information, lots of buying different products and following people and, you know, in the early days of expert advisors and, automated systems and creating my own and creating my own manual systems and following all sorts of people.

Anyway, as you know, it’s a slow, long, tedious and expensive process, and all you’re doing is tearing your hair out because you know that really the next greatest latest thing. Fantastic. Yes. And then it doesn’t work. And I went riding around, around on the old hamster wheel for four years before I realized I needed to make this work.

And I sort of stripped everything off my charts. And I started to look at price action and candle patterns and and basically developed my own strategy. Yes, I pulled a few things here and there from other people that I followed. but I basically developed something that worked for me. And to this day, I’m still using that exact same trading strategy, and it’s very profitable.

And over 15 years of teaching at The Forex Trading Coach, we’ve helped thousands of thousands of traders from now 108 countries. So, it works. I think it’s worked across all market conditions and over all that length of time. So that’s a great thing.

We post specific trades every day based on the Daily charts.

Now to help people that come on board with us, one of the things that we do here at The Forex Trading Coach is we post specific trades each day based off the daily charts.

I’ve done this every trading day since 2010, like we stop for Christmas and Easter, things like that. But apart from that, we post specific trades every single day. We look at the daily charts when they change over, which is 5 p.m. Eastern Standard Time. That’s New York time. And we then analyze the charts and we scan through all the daily charts.

I mean, originally it was just a forex markets. Now we look through the metals and the indices and cryptos etc. as well. And we go through and we analyze the markets and we take trades based off those daily charts. Now each day there are no day, there are no trades, but most days they’re sort of between one and maybe 4 or 5 trades.

Today, for example, is just one. But it’s non-farm payrolls day in America on Friday. So very cautious of what we’re trading today. But we scan through the charts, we look at the patterns that we’re looking for and we say, here’s a trade. And we’re saying here’s the currency pair, that we’re trading, the direction we’re trading. And then a paragraph of reasons why 4 or 5 lines of why we are taking that trade based off all the things that we we know and we teach as part of the strategy, we also put the exact entry and exit levels that we’re taking.

We’re saying we’re taking it, if it’s a buy trade or buy limit order. So to buy below the current price here, we’ll stop loss there and the profit target there. And we also take a market order with the stop loss there and the profit target that all the levels people would know because they’re all part of the course of how we use our, price projections and stop loss levels, etc..

But by putting that on there, it’s saying this is what we’re doing in real time, no hindsight benefit, no economist stuff. This is what happened yesterday and this is what we might have done. This is in real time every single day. Now those daily trades, every year since 2010 have been profitable for ourselves and our clients.

So we call it like term. You can earn while you learn really important that you’re actually earning some money, of course, to start with, but also almost as important, probably, if not more important, you’re learning and you’re learning to train your eye in real time to see the patterns that we’re trying taking and the reasons why we’re taking those trades.

Now, some of those trades will get stopped. And of course they will. Part of trading. Just natural, part of trading. You have to accept that. But we have, risk management, which I talk about all the time with low controlled, equal risk. And we know that if our trades hit the profit targets, then they make sort around the sort of between the two and a half, three and a half to one reward to risk depending on the trade.

So that is there for our clients no matter where they live. In those 108 countries around the world, all on different time zones, etc., everybody can take those trades and earn from and learn from them.

W1 and MN1 chart trades.

Now, beginning of each week, we also post exactly the same of a weekly chart at the beginning of each month, exactly the same off the monthly charts, and then on a day by day basis, we also scan through the 12, 8 and 6 hour charts as they change over at that start of the new day, and we post trades on that.

But it’s the daily chart trades, the ones that everybody can follow along, very specific trades, lots of learning, paragraph of reasons, entry and exit, etc. All there for clients to follow.

Live weekly webinars and our Forum site.

On top of that, of course we have webinar each week a live 2 hour webinar. just last night was a US session webinar that Paul Tillman took over in the US.

For the people on that side of the world and that time zone, I, take the European session by evening, European morning session, the alternate weeks on those sessions, we, are taking trades live trading on live accounts. We also post trades on a forum site as to our clients. But the, the important thing to understand is if you have somewhere that you can log into once a day and see a trade or a number of trades, and you can see them on your charts in real time, and you can see why we’ve taken them with the understanding, the explanations, and you’ve got your exact entry and exit levels there again, which

You know anyway, all taught in the course. Well, what it’s doing as it’s building confidence. You can then start to, over time, scan the charts and see if you’re going to pick the same trades as we pick. And it’s building confidence. So you have the ability to trade the system and the strategy for yourself in real time and to be profitable and successful.

And that’s what it’s all about. So that process, I wish I had that because like I said, it took me four years of going round in circles, going nowhere. I wish I had someone to follow. I wish I had specific trades to follow and to understand why they’ve been taken, and then not just to follow, but to build on from that and to be able to do that for myself.

And that’s what we’re about The Forex Trading Coach, we’re about teaching someone to fish where to start with we got here’s a fish, you know, feed yourself on the fish to start with. But we’re about teaching how to fish so you can become an independent and successful trader.

My 17 minutes Masterclass and Book a Call.

Now, if you’d like to find out how we can help you do that, click on the link below that you’ll find for my free 17 minute masterclass.

If you’d like to book a call with myself or one of my team, I’ll put a link to that as well.

Blueberry Markets as a Forex Broker.

And if you’re out there looking for a really top, top, broker, great bunch of people. they offer the MT4 and MT5 platform. I can highly recommend Blueberry Markets they base over in Australia. I’ve been with them for years as a lot of my clients, use, or choose to use Blueberry Markets. I’ll put a link to them as well, and you can find out more about them if you’re out there looking for a good broker.

Comments, Like & Subscribe.

Don’t forget to like, subscribe, share. As my screen has gone off here now, that tells me we’re probably at the end of the video and, any questions you have, about any topics you like me to discuss on future videos and podcasts?

Just let me know. Email me directly Andrew@TheForexTradingCoach.com or leave a comment on, here. If you’re watching this on a video, I’ll see you this time next week. Bye for now!

Episode Title: #559: How to Fast Track Your Forex Trading Success

Find out more about Blueberry Markets – Click Here

Find out more about my Online Video Forex Course

Book a Call with Andrew or one of his team now

Click Here to Watch Prop Firm Masterclass

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#558: Drinking and Trading Coffee

Sep 2, 2024

Drinking and Trading Coffee

Podcast:

Podcast: Play in new window | Download

Find out more about Blueberry Markets – Click Here

Find out more about my Online Video Forex Course

Book a Call with Andrew or one of his team now

Click Here to Watch Prop Firm Masterclass

#558: Drinking and Trading Coffee

In this video:
00:26 – The price of our morning coffee.
01:08 – We can now trade these commodity markets.
02:06 – Taking a buy trade on Orange Juice.
02:32 – Lead, Copper & Aluminium traded this week.
03:09 – Cryptos are traded 7 days a week.
03:40 – Book a Call and talk with us.
03:51 – Watch my Masterclass.
04:09 – Blueberry Markets as a Forex Broker.
04:23 – Comments, Like & Subscribe.

How do you know when the price of your morning coffee is going to increase? Well, as a trader, we can help you to predict that. But more importantly, also how to trade coffee. Let’s get into that a more right now.

Hey there, Traders! Andrew Mitchem here at the Forex Trading Coach video and podcast number 558.

The price of our morning coffee.

I want to talk about coffee. How do you know when the price is going up? Because it affects us all every morning when we have a coffee. Well, the obvious answer to me as a trader is to look at your charts.

When the beauty is over the last number of years that not only have we been able to trade more and more forex pairs, but we’ve been able to trade other markets such as like commodities and coffee. So the coffees that I have available on my MT5 platform, there are two of them. There are COFARA, which is the Arabica Coffee, and the COFROB which is the robusta coffee.

And we can also trade sugar and raw sugar as well. So all these things combined to see if they’re moving up. The likely hood is the price of your coffee is going to go up isn’t it.

We can now trade these commodity markets.

But more importantly for me as a trader is I can now trade these markets. And the beauty of the way that I trade and the way that we teach, is that the strategy works equally as well across these other non forex markets, just as well as it does trading the EUR/USD or the GBP/USD or the AUD/JPY, we can trade the coffee markets, the sugar markets exactly the same. So that gives us more and more ability to look for the patterns that we’re looking for on various charts.

Now I would say one thing that with a lot of those markets, like the coffee trades, is that they don’t all, have a 24 hour market. So they do need to be careful of that. And some of them, due to the nature of, their market hours.

And when they open, they can have some gaps. So you do need to be careful of that. They’re not quite as, perfectly formed as candle patterns. Then when you get on the forex markets.

Taking a buy trade on Orange Juice.

But just today, being Friday, the, 30th of, August when I’m recording this video on podcast for you, I’ve taken a trade on orange juice.

Now, when the market opens, I’ll be taking a by trade on OJ. So you can go and have a look at that on your daily charts. Now, if there’s a large gap up or down, then the trade becomes invalid. But right now is a candle pattern for me. Orange juice looks fantastic.

Lead, Copper & Aluminium traded this week.

Just this week I’ve taken trades on different time frame charts, on lead, on copper, on aluminum or aluminum if you’re in the US. On different markets like that. And so we have the ability to trade those commodities, those metals. we’ve got a client of ours to incredibly well trading the NASDAQ on the one and five minute charts. I don’t think it’s for everybody, but it just works for him. And he’s doing incredibly well and posting trades on our forum site on that.

we can trade other markets such as the indices and the commodities. Now the great and the cryptos, I should say.

Cryptos are traded 7 days a week.

And the great thing is with the cryptos is they are seven days a week. So you don’t get those big gaps that you can sometimes get in the commodities. So beauty of this and what I’m saying is we have the ability to trade more and more markets and just gives us more and more really good opportunities, and to be able to really fine tune our skills on saying, yeah, we’re going to be really selective on trades.

We’re going to be really critical, very selective, because we’ve got so many markets to choose from. And that’s just aiding us to, to profit from good trade setups.

Book a Call and talk with us.

If you’d like to know how we do this and you’d like to book a free consultation call with, myself, one of my team, I’m going to put a link to that so you can, choose a time to have a chat with us.

Watch my Masterclass.

If you’ve not been on my masterclass yet, I encourage you to do so. It’s only 17 minutes long. It’s on demand, so you can choose when you want to, start to watch that session. It just gives you an overview of what we do and how we trade, and some of the trades we’ve taken, and just some tips there to help you as a trader, whether you’re trading coffee or the euro US dollar.

Blueberry Markets as a Forex Broker.

If you’re out there looking for a good broker and, I can highly recommend Blueberry Markets over in Australia, I use their MT5 platform to, to have access to a lot of those markets that I’ve mentioned as well. And, I’ll put a link to blueberry as well.

Any questions you have, please send me an email or reply here. Send me an email to Andrew@TheForexTradingCoach.com. I personally reply to all of my emails.

Comments, Like & Subscribe.

Don’t forget to like and share and subscribe if you’re watching and I’ll see you this time next week. And next week, of course, will be into, September. And on Monday we will be posting for our clients trades on the daily charts, the weekly charts and the monthly charts.

So looking forward to that as well. Bye for now.

Episode Title: #558: Drinking and Trading Coffee

Find out more about Blueberry Markets – Click Here

Find out more about my Online Video Forex Course

Book a Call with Andrew or one of his team now

Click Here to Watch Prop Firm Masterclass

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#557: Why you should never risk ‘x’ number of pips per trade

Aug 26, 2024

Why you should never risk ‘x’ number of pips per trade

Podcast:

Podcast: Play in new window | Download

Find out more about Blueberry Markets – Click Here

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Book a Call with Andrew or one of his team now

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Click Here to Download my Lot Size Calculator

#557: Why you should never risk ‘x’ number of pips per trade

In this video:
00:30 – Every trade you take should have the same percentage risk.
01:49 – Use my lot size calculator.
03:20 – Your losses are equal on every trade.
04:17 – Compounding on your gains.
05:10 – A 90% winning trader who loses money.
06:05 – View my Masterclass.
06:24 – Book a call to chat with us.
06:32 – Blueberry Markets as a Forex Broker.

Today, I’m going to explain why every trade that you take should have an equal percentage risk of your account. It’s really important you get this right and it will massively help improve your trading performance. So let’s get into that a more right now.

Hey traders! Andrew Mitchem here at The Forex Trading Coach. with video on podcast number 557.

Every trade you take should have the same percentage risk.

So today I’m going to explain to you why every single trade that you take, regardless of the currency pair or the direction or even the market or what time frame you take the trade on and what the size of stop losses. It doesn’t matter.

Every single trade that you take should have the same risk. It’s really important to do that and not many people understand why. So let me explain more.

You see, when it comes to risk, a lot of people think that they should risk x number of pips per trade. Downside of course, to that is a pip is meaningless. It doesn’t mean anything at all.

It depends on what time frame trade you’re on. you know, you could have a, you know, huge stop loss in terms of pips on a weekly chart and very small on a five minute chart, for example. And the danger that is people go, I can’t trade a weekly chart because I need to take too much risk. The other type of trader out there will say, I’m going to put one standard loss on, or 0.5 or 0 point 1 or 0.01, whatever it is, depending on the size of your account.

And you do that on every single trade. But of course, if you understand trading, you realize that each currency pair, if we’re talking forex, pays a different amount per pip of movement depending on what, the pair is and what your own account denomination is. As well. So there’s flaws to both sides of those.

Use my lot size calculator.

If you use my lot size calculator and I’m going to put a link to it if you don’t already have it, it’s available free of charge. It’s on MT4 or MT5 is a trading script. All you do is you download that, put that on to your trading platform. Simple to use. You literally can do it in like 10 seconds. Drag the script on to the chart you are wanting to trade. The script will know what that currency pair is or what that market is. It also knows the balance of your trading account, and it also knows what your account denomination is in what currency it’s in.

It could be New Zealand dollars or US dollars, a euro, yen, whatever it is that you are trading on your account. So it’s a very clever, simple script. You literally drag it onto the chart. You enter the size of the Stoploss and Pepsi, delete it. Just quickly calculate that it’s real easy to do of each trade that you take, and the risk that you’re taking, it’s defaulted to half a 1% risk.

That’s what I suggest you do. But you can change that around a quarter percent, 2%, whatever it is you want. But you literally drag the script on. You enter the stop loss of the of the trade. You say it’s like 55 pips, you’ve got a 0.5% risk. Press okay. And it will tell you the lot size needed on that particular trade.

So if you’re trading that currency, pair with a 55 pip stop loss on your account and the trade goes against you, you will lose in this case half of 1% of your account.

Your losses are equal on every trade.

What that does is it makes all your trading losses even an equal. So you could have a loss on a again, let’s use a simple terms, a five minute chart and a one week chart.

Let’s say a weekly chart. Five minute chart. And let’s say one of them loses and one of them hits the profit target. Whichever one loses, it doesn’t matter because the risk that you are taking on each of those two trades is identical. So at the five minute chart trade loses, you lose half 1% of your account. If the weekly chart loses, you lose half of 1% of your account.

And so it does not matter, which trades lose or which direction or which currency pairs you’re trading. And that’s the beauty of it helps keep your losses low consistent. Pre-known before you take the trade regardless of the size of the stop loss. The direction the pair any of that does not matter.

Compounding on your gains.

The beauty of this though when you think about it, if you were a successful trader and you start making profitable trades and you’re risking X percent of your account as your account grows, the actual monetary value that you are risking on each trade increases.

And so it keeps track with the size of your account as it moves up. Let’s say you have some losses also, it means that the monetary size that you are risking as your account has going down, you’re having a few losses get smaller and smaller still the same percentage. So in theory, you should never, ever, ever come close like remotely close to blowing your account.

But if you’re a good trader, you’re compounding on your gains. Really important mathematical equation to get into your, into your mind and to understand that concept because unfortunately, not many people do. And I see that all the time.

A 90% winning trader who loses money.

Here’s a common thing I see someone will come to me and go, Andrew, I’m doing really well. let’s say, example of a 90% winning trader, as in you’re winning nine out of ten trades.

And they say, I’m still losing money. And the danger is that they have lots of little small gains and they’re trading pips or lots. It doesn’t matter how you call lots or pips. And they’re having like let’s say nine small gains, one big loss smashes had all those gains and more. All you are doing by doing that is you’re feeding your broker by paying more spreads.

If you trade shorter time frame charts, you’re just doing the same thing. You’re feeding your broker, you’re spending more time trading, you’re more likely losing, and you’re going backwards and you’ll give up. So understanding how to calculate risk properly so every trade is equal and low and known risk is crucial to your trading success.

View my Masterclass.

If you’d like to find out more and how we do that, have a look at my 17 minute masterclass. It’s an on demand session. Just, enter details and you can go straight in and watch that when it’s convenient for you. So this block out like 20 minutes of your day and turn off everything. Just sit and watch that and you’ll learn a lot from it. Tips like I’ve just given you here.

Book a call to chat with us.

If you’d like to have a chat with us, book a call. you can book out a 30-45 minute call with us. I’ll put a link of how you can do that as well.

Blueberry Markets as a Forex Broker.

And if you’re out there looking for top quality forex broker, I can highly recommend Blueberry Markets. They do offer the MT4 and the MT5 platform. A great, company, a great bunch of people, to work with really, good a ray of markets, to trade, tight spreads and very, very quick, fund withdrawals as well. So I’ll put a link to them as well.

Don’t forget, if you haven’t got my lot size calculator, it works for MT4/MT5 download the right one because they are different for each platform. Get the right one, put it onto your platform and take it and make use of it on every single trade. It will massively help you.

I hope it helps. So this is Andrew Mitchem here. The owner of The Forex Trading Coach where we help people to become successful forex traders. We’ve been doing this for more than 15 years. Clients in 107 countries. We know what we’re doing. We now works. Come and join us if you’d like to. Bye for now.

Episode Title: #557: Why you should never risk ‘x’ number of pips per trade

Find out more about Blueberry Markets – Click Here

Find out more about my Online Video Forex Course

Book a Call with Andrew or one of his team now

Click Here to Watch Prop Firm Masterclass

Click Here to Download my Lot Size Calculator

Podcast: Play in new window | Download

#556: How to Read the Forex Charts like a Pro

Aug 19, 2024

How to Read the Forex Charts like a Pro

Podcast:

Podcast: Play in new window | Download

Find out more about Blueberry Markets – Click Here

Find out more about my Online Video Forex Course

Book a Call with Andrew or one of his team now

Click Here to Watch Prop Firm Masterclass

Click Here to Check Out Other Recommended Brokers

#556: How to Read the Forex Charts like a Pro

In this video:
00:29 – How to look at your charts and understand what is happening.
00:46 – Brokers offer too many flashy indicators.
01:31 – The problem.
03:15 – Which time frame chart to use.
03:47 – 10 Daily trades taken today.
04:42 – Blueberry Markets as a Forex Broker.
04:52 – Masterclass and book a call with us.
05:19 – Comments, Like & Subscribe.
05:26 – Summary.

In today’s video and podcast, I’m going to give you some helpful information and tips on how you can best read the Forex Charts. To help you to profit in your trading. Unfortunately, most people get this wrong, so listen up. It’s going to be a good one.

Hey there, Traders! Andrew Mitchem here at The Forex Trading Coach for video on podcast number 556.

How to look at your charts and understand what is happening.

Today, I’m going to give you some helpful tips and information to help you to look at your charts to understand what it is that you’re looking at, what time frame you’re looking at, what pair you’re looking at, what’s happening in the market, the price and which way it’s likely to move too, and why and how you can profit from that.

Brokers offer too many flashy indicators.

You see, when most people start trading, they jump on to their charts. The brokers are fantastic at offering you lots of indicators, lots of arrows, dot, lines, diamonds, stars, whatever it might be. And people get completely and utterly confused by that. They also get very excited by that as well. And I know when I started some 20 years ago, I did exactly the same.

I don’t blame anybody for doing it. We all go through the same process. It’s just that my aim as a coach is to help shortcut that for you and take away a lot of that that time wasting and money, losses and frustration that you’ll inevitably have otherwise. Because I’ve been there and done it and I’ve taught thousands of people have also been there and they’re doing it.

The problem.

And now the problem is, is when you put arrows and lines and indicators on your chart, it hides what’s really happening in the market and it takes your mindset away from what’s really happening and how many of you never look at the price. I bet it’s I bet you’re nodding and going, Yep. Andrew, That’s me. I never look at the price.

Well, you should. You’ve got to look at the right hand side axis on your chart and look at what’s actually happening in the market right now where the price of that currency or commodity, metal, whatever it is that you’re trading is at right now, what is the actual price? And that level can be massively important to help you either to get into a trade and has some stop loss protection or to get out of a trade or to say, well, this is actually quite a nice set up, but the price is telling me this is not a actually a good enough trade to justify placing money on.

You’ve got to look at what’s happened in the in the past with the price as well. And and where like I use candle patterns to help determine what’s happening in the market. Candles are fantastic because they’re up to date information. They tell me what’s happening right now. Are there more buyers in the market? Are the more sellers is there indecision? Has that candle pattern bounce to the level in the past and what happened at that point and are we getting a similar pattern right now, a same level that’s going to help me to determine if there’s a good enough trade.

However, you can’t just say, look, every pinball or engulfing bar is a new trade. You then need a lot more information than that. That’s your starting point. Look at the price. Look at where it’s bounce. Look at different currency pairs. What correlation are there between different pairs right now? What’s determining strength and weakness? All those type of things need to come into your trading as well.

Which time frame chart to use.

And so when you have that in place, you then need even more information. You need to get the timeframe chart that’s giving you the best technical set up or the candle was about to close. It’s giving you the best technical setup. You then also need to look at your price and what’s happened in the past to determine do you have room to move to your profit target?

Do you have safety in your stop loss? Do you have a round number to protect the stop loss? All these things come into play with helping giving you a higher quality trade set up, and that’s really important and that’s what we help teach our clients.

10 Daily trades taken today.

Now, just today I’ve taken ten trades on the daily charts. They’ve all been posted on a membership site. That’s a lot of trades we don’t normally have ten, but today we’ve got ten. Why? Because that’s what the market’s giving us. And so our clients can earn and learn from those trades. You can see the trade setups in real time. You can profit from them. Hopefully we get a majority of those, right, with the reward to risk that we have and the low risk portrayed.

And we’re likely to come out on the right side of most of those trades and do very well for nice. And so that’s what we do. We publish trades each day on the daily charts, beginning of each week on the weekly charts, beginning of each month, on the monthly charts, and then on our forum site in on in between the days.

We have shorter timeframe charts. Today I published in eight and six and 12 hour chart trade as well. So lots and lots of trades for our clients to follow from, earn from and learn from and understand what’s happening in the market and why.

Blueberry Markets as a Forex Broker.

Now on top of that, if you’re out there looking for a good broker, I can highly recommend Blueberry Markets. I put a link to them as well here on this post and video.

Masterclass and book a call with us.

And if you’ve not been on my masterclass yet, I encourage you to do that. It’s about 17 minutes long as a prerecorded on demand hour video gives you a lot of information about how we trade, how we teach, and how we can help you.

And if you’d like to book a call with myself or one of my team, I’ll put a link to that as well. So you can book up a 30 minute free consultation call. I’ll give you an idea of how we trade and what we do and if we can help or not. So have a look out for that as well.

Comments, Like & Subscribe.

Any updates you’d like. Any future topics videos, let me know and I can help you out with those.

Summary.

So keep a look out for the price action. Candle patterns where their care on your charts. Has your trade get room to move to your profit target. Do you have some stop loss protection? Is there correlation between the pair You’re trading and other let’s say if you’re saying taking a buy trade on the EUR/NZD is Euro looking strong against other pairs as well.

Is the New Zealand looking weak against other pairs as well And you put that together you get yourself a high quality trade set up and likely profit. I’ll see this time next week.

This is Andrew Mitchem at Forex Trading Coach. Bye for now.

Episode Title: #556: How to Read the Forex Charts like a Pro

Find out more about Blueberry Markets – Click Here

Find out more about my Online Video Forex Course

Book a Call with Andrew or one of his team now

Click Here to Watch Prop Firm Masterclass

Podcast: Play in new window | Download

#555: What has caused the large recent moves in the Markets?

Aug 11, 2024

What has caused the large recent moves in the Markets?

Podcast:

Podcast: Play in new window | Download

Find out more about Blueberry Markets – Click Here

Find out more about my Online Video Forex Course

Book a Call with Andrew or one of his team now

Click Here to Watch Prop Firm Masterclass

Click Here to Check Out Other Recommended Brokers

#555: What has caused the large recent moves in the Markets?

In this video:
00:25 – Big recent moves in the markets.
01:05 – Clients are making excellent returns.
03:15 – The recent moves.
04:00 – I look at charts and remove emotion.
04:43 – Trading with the longer-term trend helps.
05:22 – Blueberry Markets as a Forex Broker.
05:27 – Join my 17 minutes Masterclass and Book a Call.
06:25 – Comments, Like & Subscribe.

So what’s cool is the big moves that we’ve seen across multiple markets over the last few weeks. Let’s talk about that important topic more right now.

Hey traders! it’s Andrew Mitchem here at the Forex Trading Coach with video on podcast number 555.

Big recent moves in the markets.

Now you’d know if you’ve been following the forex market or many of the other markets around that over the last few weeks, we’ve seen some quite amazing moves. we’ve seen the yen strengthen. We’ve seen a lot of the indices crashing. We’ve seen a lot of the, cryptos dropping.

In fact, Bitcoin in about a week or so dropped some 30% in value. And we’ve seen like the yen pairs with the yen been the strongest. It’s been for quite some time. A lot of yen pairs like the AUD/JPY, NZD/JPY, just, you know, just dropping and it’s been some quite incredible moves.

Clients are making excellent returns.

Now, if you’ve been following my recent videos and podcasts, you’ve noticed that last week I talked about Hamish, a client of asset made an amazing 53%, return on a live account in the month of July.

And the week prior to that, I talked about how we made a 13.2% account gain. Now, a lot of that was, placing some daily and weekly and monthly charts. so we saw all of this coming in advance. And if you go back and look at what I talked about a few months ago, if we’re looking at monthly charts and then also some weekly charts, we saw this happening on the charts.

So it comes as no surprise, to us whatsoever that these moves have happened. Now, I did a podcast, with a trading battle group a few months ago, about three months ago. And I said that the likes of Ethereum, I was looking for a longer term to be dropping and also Bitcoin. That’s exactly what we’ve seen. So how did I know that back then when I looked at the longer time frame charts and we use our analysis to suggest that this is where it’s tipping over and this is likely where it’s moving to and, and why we don’t always know when and how quickly it’s going to get there.

But we know quite likely it’s going to move in this direction, is likely to move to that area. Now, that information to have in the back in mind as a specific trade or just in terms of general information is absolutely crucial as a trader. And so having that information, but also being able to make that assessment, don’t forget when everything’s moving up and up and up and up and going crazy.

And with that going, it’s now time to sell. We’re looking for a retracement. And then looking at the price to then drop. Sometimes you feel a little bit kind of a little bit alone, a little bit there by yourself because everybody is saying its going up and up and up and where I’m going. Well everything’s telling me that things are likely to drop and to go all the way down there, which at the time seems like a crazy low price when the market’s doing the opposite.

And that becomes the, I suppose, the importance of understanding chart patterns and looking at what’s happening and why.

The recent moves.

Because when it comes to what’s happened in the last few weeks and the whys to that, it’s like, well, a lot of that is fundamental news. And depending on what side of the argument you’re on, you could argue, you know, as an example, let’s say in the US, and people could argue, well, it’s because Biden and Harris, doing a terrible job and therefore the US is dropping.

Or if you’re on the other side of the fence, people go, oh, it’s because Trump’s likely to get in and everybody’s fearful. So the market’s going to drop. It depends what side of the fence you’re on for that particular fundamental argument. That’s why I don’t get into that. I have my personal opinions on politics and the view of the world and things. But in terms of trading, it doesn’t influence me in terms of my trading.

I look at charts and remove emotion.

Because I look at charts, I remove emotion, I look fat, I look at what’s really happening, I look at historical price levels, I look at where things are likely to move to, the levels are likely to get to. So when you remove emotion from your trading is starting to open your eyes up to what’s happening, why so much is happening, or your opinion, or why it’s happening doesn’t really matter.

The fact is, I could see things were looking like they were dropping. We took a a sell trade on the China50 index. Two months ago, just this week, it went the profit target because it was dropping and, you know, to be able to do that is so crucial.

Trading with the longer-term trend helps.

Now, if we see something setting up on, say, like the daily or 12 hour, that’s in the same direction as your bigger picture, monthly analysis, now you’re really getting more and more factors in your favor.

And that’s what trading is about. Technical trading is about adding more and more probability, more and more factors that you see on the charts in your favor. And when they all add up, that’s when you get yourself those high quality trades. And in a farming analysis and the sense make hay while the sun shines. So we are seeing some good moves in the market.

We are getting some fantastic trading opportunities and we’re taking advantage of them. So really important that you do that.

Blueberry Markets as a Forex Broker.

If you’re out there looking for a good broker, I can highly recommend Blueberry Markets. I’ll put a link to them.

Join my 17 minutes Masterclass and Book a Call.

And if you’ve not been on my, 17 minute on-demand webinar masterclass, jump onto that. I’ll put a link to that as well.

If you’d like to find out how we trade and how we can teach, to make this work for you, or you like to have a call with us. I’ll put a link to our booking calendar as well, where you can jump on and have a 20-30 minute conversation with us to see where the right fit for each other, to see if we can help you and to see if you’re going to make a great addition to our trading community.

Because that’s what we’re about. We’re about a trading community of like minded people from all around the world. We have clients in 107 countries all looking at the same strategy, the same looking charts, all they’re helping to make it work for each other. So if you’d like to come on board with us, we’d like to talk to you to see, if we’re the right fit for each other, to make this work for you and to take your trading to the next level, to have a look at one, the links I put on here.

Comments, Like & Subscribe.

If you have any questions or topics you’d like me to discuss on future videos and podcasts, just like this one, just drop me an email. Andrew@TheForexTradingCoach.com. I see this time next week. Bye for now.

Episode Title: #555: What has caused the large recent moves in the Markets?

Find out more about Blueberry Markets – Click Here

Find out more about my Online Video Forex Course

Book a Call with Andrew or one of his team now

Click Here to Watch Prop Firm Masterclass

Podcast: Play in new window | Download

#554: Trader makes a whopping +53% in one month

Aug 5, 2024

Trader makes a whopping +53% in one month

Podcast:

Podcast: Play in new window | Download

Find out more about Blueberry Markets – Click Here

Find out more about my Online Video Forex Course

Book a Call with Andrew or one of his team now

Click Here to Watch Prop Firm Masterclass

Click Here to Check Out Other Recommended Brokers

#554: Trader makes a whopping +53% in one month

In this video:
00:30 – Trader makes massive gains in July on his live account.
01:50 – Trades taken on various time frame charts.
02:24 – Taking his time to learn the strategy first.
03:27 – Don’t expect instant results.
04:36 – My 17 minutes Masterclass and Book a Call.
05:09 – Blueberry Markets as a Forex Broker.
05:42 – Comments, Like & Subscribe.

Today I’m going to talk about a trader who has just made 53% in the month on his live account. Let’s talk about that a more right now.

Hey there, Traders! Andrew Mitchem here at the Forex Trading Coach with video in podcast number 554.

Trader makes massive gains in July on his live account.

So I want to talk about a client of ours called Hamish who, lives here in New Zealand. He joined us, some ten months ago back in September 2023. And we’re now into August. Now, back in July, last month, he opened a live account with just over 5500 dollars in that account.

And he’s just sent me, the PDF file here from his, BlackBull the broker, a live MT5 account that he’s got here. the account in U.S. dollars, he started with $5,575 was his deposit. He has gone and made, almost $3,500. Now, that represents a 63%, account gain. but on close trades, he’s currently when he sent me this earlier today on 53.14% on closed trades.

So he’s got roughly 10% open. on or profit on open trades, but a massive 53% gain in the one month on the live account. Now that has to be, you know, a fantastic achievement. And, the profit factor, which is an important measurement, is 2.44. And his average hold of the trade is one day, 13 hours and nine minutes, according to the stats on here.

Trades taken on various time frame charts.

So of course, that will have some, longer time frame charts, such as maybe like a monthly chart or a lot of weekly charts that I’ve talked about that we’ve taken here at The Forex Trading Coach on the last couple videos and podcasts, if you’ve not seen them, go and watch number 552 and 553. Or listen, if you’re on a podcast and I talk about those trades on the weekly chart.

So they’ve helped Hamish, a lot as well. Plus we’ve had some very good daily chart trades and a lot of, especially 12 hour chart trades done. Incredibly well, done very, very well out of those.

Taking his time to learn the strategy first.

But my point being is he joined us ten months ago. So he’s taken nine months to go through, ask questions, attend the webinars, post trades on our forum site, which he does, you know, continuously ask questions and has practiced on, a demo account.

And now he’s completely ready. And yes, we’ve had a great month of trading conditions in July. Absolutely. Yes. He’s probably taking a higher risk than I might personally take and said yes, but after all, it’s his money, his decision. But the proof is that on close trades, he’s made 53.14% in his first month on a live account with about 10%, gain running now into August on open trades.

Absolutely fantastic. And see all the results here. well done. Hamish. great to see your effort on investing in yourself into the course and your time, is paying off and that again comes back to, what I talk about continuously is.

Don’t expect instant results.

Don’t expect instant results. you know, don’t expect to buy yourself your own private jet within the first 2 or 3 weeks.

Take your time, do your homework, do the training, the learning. The Demo accounts more Live account. And like, where does Hamish want to take it from here? I don’t know, I’m going to go and ask him. but he might have more funds to add to this. He might be on prop firm accounts. and basically, if you know what you’re doing and you can achieve results like this when the market’s giving you those good, trading conditions, you know, it’s unlimited, isn’t it?

And that becomes the point to get across to you, invest in yourself, invest in your education and it massively pays off. Otherwise you’ll be out there like most people like you hear the stats 90, 95, 90 to 95% of traders out there just losing money, going round in circles, you know, on the hamster wheel, just not getting anywhere.

And they blame, you know, the market or they blame, you know, something else. They blame forex, they blame the dog, they blame everything but themselves because they haven’t done that groundwork in that homework.

My 17 minutes Masterclass and Book a Call.

If you would like to know more about how we trade and teach, jump onto my on demand, very short, 17 minute, masterclass. I’ll put a link to that.

If you’d like to book a call to talk to myself or one of my team. We’re more than happy to jump on and on the call with you guys and, and book a time that works for us both to have a chat about, seeing if with the right fit and, and how we can help you to achieve success, just like Hamish did. And when he joined some ten months ago. I’ll put the link so you can book a call with us as well.

Blueberry Markets as a Forex Broker.

And if you’re out there looking for a broker, I can highly recommend, Blueberry Markets. they are fantastic. bunch of people. they’ve got some, actually, some very exciting developments coming shortly as well. Can’t tell you just now, but I’m going to tell you in the next few weeks, regarding prop firms, some very exciting developments. I’ve been talking to them this week and, Yeah. Look, just to start with, for now, as a broker, consider them if you’re out there looking for a good, MT4 MT5 broker, I’ll put a link to Blueberry as well.

Comments, Like & Subscribe.

So that’s it for now. Any questions you have, please email me Andrew@TheForexTradingCoach.com. Don’t forget to like and share and subscribe if you are watching this on YouTube and happy trading everyone!

I’ll see you next week. Bye for now.

Episode Title: #554: Trader makes a whopping +53% in one month

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