How to Future Proof Yourself
#390: How to Future Proof Yourself
In this video:
00:28 – What an interesting year 2020 has been
01:20 – Problems around the rest of the World
02:00 – Using other people’s money to trade?
03:45 – Take advantage of these ways of making money from trading
04:23 – TFTC Pattern Trader bots
05:28 – Trading off a small account size
06:42 – You need to future proof yourself and learn how to trade correctly
What would another corona virus lockdown mean for you? Is your job secure and what are you doing to future proof yourself? 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 390.
What an interesting year 2020 has been
So, it’s been an interesting year, hasn’t it? We’re heading up to the US elections next week, and we’ve obviously had coronavirus cause issues right around the world. We’re lucky here in some ways in New Zealand, we’re very small, a couple of islands safely tucked away at the bottom of the world. We’ve only got one international airport that’s open. We’ve only got three in total, but we’ve got one that’s open. Very, very easy for us to control coronavirus here. Only 5 million people but even so, we can’t move around. We can’t travel overseas. Visitors are not coming in.
As a country, we rely on tourism and we’re heading into summer now so there’s going to be a lot of job losses here, a lot of problems coming.
Problems around the rest of the World
Around the rest of the world, Europe is getting… There’s more and more problems. There’s unrest, there’s riots. There’s more lockdowns coming and that’s likely to cause huge problems and unemployment fear, et cetera like that.
And it comes back to exactly like I mentioned to you back in around March, April, May time about future-proofing yourself, but how you can use the Forex market to do that. I want to give you some examples of what people are actually doing right now along those lines.
Using other people’s money to trade?
The first example is a client who wrote on our forum site just this week. He said that his trading’s going really well. He has found one of those sites online where you can prove yourself as a trader. You can then get a split between profits from someone else’s funds. And so what he’s doing is he’s spent the last six months on the course understanding trading, getting to make it work. And now he’s at that position where he can really profit from it, which is fantastic. He sent a screenshot on the forum site. He said last week on his first week with this account that he’s trading on behalf of another company, he made 7.9% gain.
There’s another email here and I’ve printed it out to read it to you. I won’t give you the name of the company the guy’s using, but he says I’m also looking at using the company and other funding providers. It looks like I’m out of work in the next five to six months so looking to transition to a full-time trader by then, and these funding providers are a very attractive option. He talks about the 70/30 profit split and they have a 10% challenge over 30 days and there’s rules of maximum and minimums and draw downs and weekends, et cetera.
And he said on here, I hit a 10% profit last month. And he talks all about what he did and how he’s going to approach this. At the end, he said this is a great way to accelerate the path to full-time trading. It’s a very viable option.
Take advantage of these ways of making money from trading
So there are those type of companies out there, those type of systems out there, and they really do provide a great way of trading to start with a relatively small account yourself, but to gain profit from this, which can certainly help you when it comes to your income if like these guys, you’re looking at losing your job. Now, of course, there’s also the option of becoming a signal provider where you basically are trading your own account and people copy and pay a monthly fee for that. And that’s another option that’s actually really, really good for people to consider.
TFTC Pattern Trader bots
The third option that we’ve got is our TFTC patent trader. So it’s the Forex Trading Coach patent trader, and that’s our auto trading system where you can create bots using my strategy. Very, very easy to create your own bot, your own group of bots portfolio based on different candle pattern recognitions, timeframe, risk, et cetera.
Our leading guy right now on a live accounts up over 55% since we started. He started in around May and it’s up 55% to date. His annual return was projected to be, I think, it was about 162% if he continues with the way that his bots are performing. A 14% draw down as well. So very low risk, very high returns. You imagine what you could do with 162% in the next 12 months. He’s doing that completely automated as well, by the way.
Trading off a small account size
But the point being is a lot of people come to me and they say, look, my account’s too small. I can’t live on this. Very important to understand that first of all, you actually have to know how to trade well first with low risk, low draw downs, et cetera. But once you have mastered that, and that’s what we can help you with, there are all these other options out there of how you can actually earn more income from your trading than just your own personal account. A lot of people say, “Hey, Andrew, I’ve got a $5,000 account, $10,000 account. How on earth can I live off that?” Well, realistically, you cannot. But my point being is that you have to understand how to trade. And if you can make, in the example of the guy here on our bots, 162% in a year, who is not going to want to jump at that opportunity and to invest in something like that, especially given everything else that’s going on in the world with the uncertainty, like we said, the unemployment, the low interest rates, the low returns on traditional ways of investing?
You need to future proof yourself and learn how to trade correctly
So if you have any interest in future-proofing yourself on going through this next series of lockdowns that seem to be happening now around the world, take advantage of this time. Yes, it’s so damn frustrating. It is for everybody, but you can actually do something about that time that you will be spending or have spent or are going to spend, that extra time, use it wisely and educate yourself, future proof yourself. And if you would like how to help with that in terms of you want to make Forex something that works for you, just contact us at theforextradingcoach.com and we’re here to help.
So once again, this is Andrew Mitchem here at the Forex Trading Coach. I’ll see this time next week. Bye for now.
Episode Title: #390: How to Future Proof Yourself