Inflation Is Now at Levels Not Seen for 30-40 Years
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#443: Inflation Is Now at Levels Not Seen for 30-40 Years
In this video:
00:27 – Massive Inflation rates around the world
01:21 – Are you going backwards?
01:46 – What can you do about this?
02:42 – Most people only buy Crypto’s
03:15 – Weekly Indices trades hit their profit target
03:36 – Do you wish to know more about Prop firms?
05:44 – Trade with Blueberry Markets
Around the world we’re now experienced inflation levels that we’ve not seen for the past 30 to 40 years. What does that mean for you? Let’s talk about that a more right now.
Hey, traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 443.
Massive Inflation rates around the world
Now you may have seen a very hot topic around the world right now, many economies is in inflation and how high it has got. In the US, they’ve just announced that their inflation rates has reached 7%. That’s the highest seen over there since 1982. Here in New Zealand 6.3% is the level economists are talking about. That’s also the highest that we’ve seen since the mid 1980s. Over in Canada, 4.8%, throughout the Euro Zone, 5%. In the UK 5.4%. So very high inflation rates. What does that mean? Well, obviously the cost of living is going up massively.
It’s something that has been predicted for the last year or two. And it’s here right now. You’ve noticed things like food, fuel, housing, all the expensive things in your life are going up faster and faster and faster.
Are you going backwards?
So if you are on wages, what does that mean? Well, wages for a lot of people are pretty static, fairly constant. So it means that if you’re in the US and inflation’s gone up 7%, and your wage has not gone up 7%, you’ve effectively gone backwards from this time last year. It’s costing you more of your wage to buy the same thing effectively, you’re heading backwards.
What can you do about this?
And what can you do about that? Well there’s different investment methods and obviously cryptos, and we’ll use Bitcoin as an example as something that so many people have talked about over the last few years. So imagine how you feel right now if just over two months ago, you purchased Bitcoin for $69,000 and this week it’s worth $33,000. Not great. And so for me, the thing that I love about trading the Forex market of course is we have the ability to sell. And we can still trade cryptos and we do, and I’ll give you a great example with just last week on our membership site, we published a sell trade on Ethereum.
We were selling on the daily chart and within two days we’d made a 3.2 to 1 reward to risk trade. In other words, we risked half of 1% on the trade, and we’ve made at 1.6% account gain by selling Ethereum.
Most people only buy Crypto’s
And the way that most people are getting into cryptos is you can only buy. And the beauty of the Forex market and the ability to sell something is what makes it so different and so good to me because of course not every chart keeps going up and up and up.
Bitcoin, Ethereum right now are perfect examples. So not only are we gaining some great gains on the Forex pairs, we’re now also looking at the indices, the cryptos and the commodities.
Weekly Indices trades hit their profit target
Just this week, I published three weekly chart indice trades, which have all hit our profit target. So the patterns that we trade, the method that we trade is proven to work across so many different markets, and that’s the beauty of it. Now, two more things I want to mention to you.
Do you wish to know more about Prop firms
One, we are getting a lot of our clients who are now getting involved with prop firms and doing incredibly well. You may have seen some emails from me recently about some of our traders that are making some fantastic gains by passing the different challenge levels involved with prop firms. Now, I’m thinking about putting something together to take you through step by step, walk you through the process of which prop firms to look at, how to start with them, how to get through their challenges with our trading strategy.
And if that’s something that you’d be interested in finding out more about, just send me an email, [email protected] and let me know that you’re interested in. It’s something that over the next month or two, that I’m looking at developing because of the huge success that our clients are having. But also there’s so many people out there that come to me on a regular basis and go, “Andrew, I’d love to join you, but my account is $1,000 dollars, I cannot make enough money to live on it. And I can’t afford to pay your course by making money out of my trading account.” And I see that as an issue that so many people have. My reply to that has always been, you need to learn how to trade first. You know, baby steps first, learn to walk before you can run. And it’s so true, but the reality is for a lot of people is they think that they’re going to pay for the course out of their $1,000 dollars trading account, which you will eventually, but of course, you’re not going to live on a $1,000 dollars trading account.
So the ability to first of all know how to trade is the most important thing. But then if you can then trade other people’s money, i.e. the prop firms, knowing that you’ve got a good solid trading strategy, which is what we provide, that’s how you can massively accelerate the income that you make from trading. That’s what so many of our clients are doing, and that’s what I’m looking at putting together. So if that interests you let me know, and I can put something together to help a lot of you out there.
Trade with Blueberry Markets
Lastly, when it comes to your trading funds, there’s no better place in my opinion, to put your funds than Blueberry Markets. Now, of course you, you need to do your due diligence. Don’t just take my word for it, you’ve got to go out there and do your due diligence. Look at brokers, look at options. Look at the safety of funds. Look at their track record, all those type of things. But the thing I love with Blueberry Markets is their customer service is fantastic. Their platform is reliable, it’s stable, and you get great spreads, great service, great people to deal with. I’ll put a link to Blueberry Markets. They offer the MT4 and MT5 platform, I’ll put a link on this video and podcast post and contact them if you are out there looking for a high quality Forex broker to trade with, and of course you can trade cryptos through them as well.
So that’s it for this week. And I hope that was helpful. I’ll see you this time next week. Bye for now.
Episode Title: #443: Inflation Is Now at Levels Not Seen for 30-40 Years