Lessons from my 20 years as a Forex Trader
#500: Lessons from my 20 years as a Forex Trader
In this video:
00:20 – How my 20 years of trading knowledge can help you
00:47 – Trading is hard work
02:40 – You are in a fortunate position today
03:33 – Our commitment to quality
05:22 – Get the basics right first
06:42 – View my new on-demand masterclass
07:07 – Take a look at Blueberry Markets
I want to help you by explaining some of the things that I found out in the last 20 years as a full time forex trader. Let’s talk about that and more right now.
Hey, the traders, Andrew Mitchem here at the Forex Trading Coach with video and podcast number 500.
How my 20 years of trading knowledge can help you
So big celebration today, something we are really proud of. And I’d like just to come out so I this you can see here nice sort of autumn day here in Nelson and wanted to explain what I’ve learned so I can pass the information on to you and help you to become a better trader by shortcutting the learning process for you.
Trading is hard work
So first of all, let’s just be real about this. Good trading is hard. It takes time, it takes dedication, it takes commitment. If you’re the sort of person that is lazy or you think it’s just going to suddenly, roll off and make you a multi-millionaire by next month, it’s not for you, or certainly we’re not for you.
You’re probably wasting your time. In all honesty, you have to be real about this. And so I think that is one of the things that I find, especially with coaching, you know, from time to time and it’s probably on a daily basis, people will come to me and say, Andrew, how much can I make from this? Or I don’t like my job, I want to replace it with trading.
Now there’s a few things there. If you want to put some effort, time, commitment, financial commitment, your own time, commitment, a bit of hard work. Yes, it can work. And yes, you can replace your your income with it. Lost of ways you can do that? Like prop firms, etc. like that. But you still have to start small. You have to learn to walk before you can run.
All those kind of phrases are so, so true and trading. And over the last 20 years, I think that’s probably one of the biggest things that I find because online obviously there’s a lot of makes it look easy things, a lot of, you know, YouTube videos everywhere. Everybody’s got an opinion or a method that, you know, it’s going to make you a multimillionaire next week.
They’re driving around in this red flash Ferrari and things like that. Laptops and pretty women sat next them. Look, they’re all hired. They’re not real, they’re staged. When I fly around in my helicopter and show you that’s me flying in my own helicopter. I’ve done that through hard work trading and hard work to learn how to do that and hard work to be able to afford, how to do that.
So it’s real. It’s taken 20 years, you know, it’s not something I started, and within a month I was suddenly owning a helicopter. So get it real and realize that I have gray hair and it takes time. And that’s what you have to accept.
You are in a fortunate position today
But you are in a fortunate position because, you see, when I started, we are on dial up Internet. Things were very different. Not a lot of information out there. I had a one gigabyte plan when I started trading on dial up. First of all, I had to get the Internet to work and actually stay stable and then one gigabyte plan, which my mates were absolutely amazed at, that I had a one gigabyte per month Internet plan.
It was huge. And then I remember we went to 10 Gig and everybody was just blown away that I would have such a massive amount of Internet per month. And of course things have changed as everything does. Technology changes everything. It gets better, improves, hopefully. So, you know, you got no excuse today in terms of like cheap laptops, cheap Internet, reliable go anywhere in the world pretty much.
And you’ve got Internet. So you have that in your favor today, which of course we did not have.
Our commitment to quality
The downside is, of course, there’s more scams and more things out there. I suppose we still had them back then, but less of them. So, you know, there’s pros and cons of everything. But the good thing is, you know what I’m proud of?
Of what we’ve done is we have that commitment, that achievement, that consistency, that showing up. Just last night I held a live webinar for my clients. I’ve done that every two weeks for my clients since 2010. The alternate weeks a US session which Paul Tillman holds for me, we are consistent, we show up. We do that every day.
I’ve just literally before I’ve started this video made and posted my daily chart trade suggestions for today, which is Friday the 28th of April. I put six trades on our membership site for our clients to follow. Learn from, and hopefully they get a wealth and from us. Well, today on the webinar last night I took three trades live, so we’ve done that every day.
We have never missed a day of daily trade since 2010, not one. And so that again shows our commitment effort. Just email me, try us out. Email us. We will reply to personally. If you book a Zoom call with me, we all report. We will show up. That’s our commitment to our professionalism and our dedication to what we do as traders and what we are like as people.
Just look at these videos and podcast. This is number 500. Every Friday I post them. How many people do you find that, you know, have a business or post five or ten videos and then you never see them again? We are. They are showing up day in, day out, because we’re doing this ourselves as real traders, you know, because that’s what we do.
That’s what we love and enjoy. So do that and have consistency. Put some effort in. It will work for you.
Get the basics right first
On a trading point of view, Just want to really sort of convey, I suppose it comes back to the basics. It comes back to the way that we trade. Why it works because it works across all market conditions.
So no matter what the political, economic and, you know, all the different events that happened over the last 20 years that I’ve been trading. The strategy that I’ve been teaching for 14 years now works consistently because it’s based on price action, candle patterns. What part of the chart it shows in, how we got support and resistance, round numbers, divergence, all these things, strength and weakness that we look for really important.
You do that and have that consistency and we also of course look for low risk per trade and we also ensure that our trades have high reward to risk per trade. So you put these basics together and you can see why what we do works and the daily trades, the webinars, the forums site, the emails, the support site, the trading software, all of this put together with the strategy and the videos and our help and support is why it works for people.
So that really is our point of difference. I suppose it works because it just does, because we’ve proven over all these years. 14 years next month the Forex Trading Coach something again we’re really immensely proud of with clients in 101 countries. So if you want to go further, a couple things you can do.
View my new on-demand masterclass
If you’ve not been on my new On Demand webinar, you can click on that and just watch it whenever it suits you.
At the end of that webinar, there is an option for you to book a call live zoom call with myself or with Paul Tillman, who’s over in the US. Using our calendar system, and you can do that at the end of the webinar. Make sure it’s right for you though first.
Take a look at Blueberry Markets
And also if you are looking for a broker, I can highly recommend you consider and look at blueberry markets, they’re base across over the ditch over there to the west of me over in Australia. Good bunch of people, great platform, MT4/MT5 lots of different markets as well now.
And also lots of more minor exotic forex pairs as well. Good spreads, just good people. Have a look at blueberry markets again. I’ll put a link to them here as well for you. So that’s it for today. Really proud of our efforts and commitments. Like I said, this is video on podcast number 500. Just love doing what we’re doing.
Any questions, please ask and I’ll see you next week. Bye for now.