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#242: Learning To Trade Through Trial and Error

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Learning To Trade Through Trial and Error

In this weekly video:
00:30 – Why do people learn through trial and error?
01:30 – It seems and easy and low cost way learning
01:45 – The best way to learn how to trade
02:20 – Feedback from 2 clients – amazing trading results
03:23 – Those who invest in themselves have a high chance of being successful
04:50 – Contact me if you’d like more information

Are you learning to trade the Forex market through trial and error? If that's you, listen up; I've got some interesting news for you.

Hi Forex traders, Andrew Mitchem here, the Forex Trading Coach Video and Podcast Number 242. I want to talk about a subject that affects the vast majority of Forex traders.

Why do people learn through trial and error?

It's all about why do people learn through trial and error? Because to me, it's undoubtedly one of the best ways of losing money. Absolutely no question about it. We've all done, I've done it. I know exactly where you are and what your thought process is if you are going through various websites, forums, buying robots, buying trading systems, buying all sorts of different things, indicators et cetera. If you're constantly buying new things looking for that answer, you're constantly search for the next shiny object, the holy grail of trading.

If that's you right now, you are without doubt doing your best to waste your money and your time, and to get massive, massive frustration and likelihood you're not going to get to the result that you want. Why do people do it?

It seems and easy and low cost way learning

Well, I suppose people see it as it's easy, or it's a low-cost way of learning how to trade. What I can assure you is that the likelihood of you losing money, and quite a lot of money, is very very high.

The best way to learn how to trade

The flip side of that, the surest way of trying to become a profitable trader and to understand what's happening in the market to make money, is to seek a mentor. If you look at that cost of investing in a course or seeking a mentor as an investment in yourself to save you time in the long run, and to save you lots of money, and to make you money and to save all that frustration and headaches and heartache and likelihood of giving up. If you're trying to save all of that, then invest some time and some money into a good course. Because it really will help you.

Feedback from 2 clients – amazing trading results

I'd like to share with you two emails that I've received; one this morning and one yesterday. The one that I received this morning is from Branin, who lives in America. Branin said, “I wanted to let you know I'm now up 15% since I purchased your course.” Branin only started about a month ago, so 15% up already. The other email which was from John, who now lives in Katar. I think John's originally from Australia. He said that his results since he joined me, and he joined me in 2014, “live trading results in 2015 I made 31.6% return. 2016 I made 22.3% return. So far 2017 up until September,” and it's now the 15th of September today, “35.9% this year. It's been a really good one for me so far.” 31, 22, and almost 36%. Live trade results there.

Those who invest in themselves have a high chance of being successful

When you get feedback like that, it's really really good to see because what it's doing is it's showing that people who do invest … Yes some upfront money, yes they're investing some cash into a course, yes they're investing their time, but it really does work. There's no better way of learning a proven strategy from a mentor who's trading all the time. Just yesterday I had a live webinar for my clients. We were taking trades on there, there were people typing in trades that they've taken themselves. Some good, some not so good. That's trading. But we were learning from those trades and taking trades in real time. Every day of the week, I post specific trades based off the daily charts. At the beginning of the week, I post trades based off the weekly charts. Each beginning of the month, I post trades off the monthly charts for clients to see and follow in real time.

I have a forum site and we type in there … Myself and other people write in trades that we've taken, so people can learn again in real time and see the charts, see what's happening in the market right now, and learn from the right hand side of the chart. Not hindsight of what we did do and what we could have done and should have done, but this is what we're doing right now. Whether the trade makes money or it loses, this is what we are doing right now, and the reasons for doing that. That's how you learn how to become a successful Forex trader.

Contact me if you’d like more information

If you'd like more information, just drop me an email or go onto my website and go to the contact us form. Send me an email and I can send some information back to you that will help you to become a profitable and successful Forex trader. This is Andrew Mitchem, the Forex Trading Coach. Have a great weekend, I'll see you this time next week.

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  • John Njoga

    Thank you for the post. Very useful info

    • Andrew Mitchem

      Hi John,
      Thanks for your feedback – I’m pleased you like the video.

  • Akingboye Ajayi-Obe

    Thanks for sharing with us from your wealth of experience

    • Andrew Mitchem

      You are welcome – glad to help you