In this video:
01:14  A 2.4 percent account gain just on one trade
02:32  Good news out of New Zealand all week
04:15  New chapter of my eBook has been released

I’ve got a trade open right now on the charts that’s a 4.8 to 1 risk to reward trade.  So, with a one percent risk, that’s a 2.4 percent gain on my account.  I’ll share more details about that trade right now.

Hi, traders, its Andrew Mitchem here, the Forex Trading Coach, welcome along to this weekly video and podcast.  And today is the last day of February, it’s the 28th today.  I want to share with you some information regarding a trade that I’ve suggested to my clients today, and I have it open on my Live account right now, so if you’re watching the video, you can see it behind; if you’re listening to the podcast, I’ll just explain about the trade.

Trade open at 4.8:1 Reward:Risk on the GBP/NZD

So right behind me here you can probably see that I’ve got a big red bearish candle on the most up-to-date candle; that’s a GBP/NZD chart, and the trade right now is up 116 pips, and it has a stop loss of 24 pips.  Now that’s giving me a massive 4.8 to 1 reward to risk.  And so as I mentioned at the intro, with a one percent gain, that’s a 2.4 percent account gain, just on that one trade, and that trade took me probably thirty seconds to put on my charts today; it’s still open, I haven’t closed it yet, but it’s looking really, really good.  And that all ties into yet again, the charts are pointing the way, the charts are showing us where the fundamentals are likely to be heading.  And I’ve mentioned this quite a number of times recently on these videos and podcasts, and yet again the same thing is showing, and it’s happening right now.

If I lean over the other side here, you can see the NZD/USD climbing nicely; I’ve got a buy trade on that.  That particular trade is up around 60 pips with a 25 pip stop loss, so just over a 2 to 1 risk to reward on that open trade.  And those two trades that I’ve mentioned are both mentioned to my clients with the exact entry points, the exact exit points, and the reasons for taking the trade.  So, just with those two, you know, with a half a percent risk even, that’s still several percent on your account in one day.  And of course, the trades have still got a little way further to go before they get to their full profit target.  So, it just shows what can be achieved.  Now, these are both on the daily charts, so both very profitable trades.

Excellent Fundamental News out of New Zealand – Again

But looking at the fundamentals, there’s been good news out of New Zealand all week, yet again.  The technicals have been showing that all week, I’ve been bullish on the New Zealand dollar, for pretty much the whole week, and I’ve mentioned that on my posts on my site to my clients and on Forex Peace Army, so you can go back and look at those, that information that I’ve been looking at on the Kiwi dollar.  

The trade balance figures that have come out of New Zealand this week, they are thirty percent higher than the expected, so it’s a massive increase. We’ve just had today, the business conference news has come out, it’s the highest level within the business sector since 1994; that’s twenty years, it’s the highest level the business conference figures that have come out just today, the highest in twenty years.  The job expectancy, so companies and their expectancy for hiring new staff heading into the rest of the year, it’s the highest since 1992.  The dairy farmers have just set up payouts, so everything is going really well, and all this is doing is giving positive news for the New Zealand economy, which in turn is pushing up the New Zealand dollar.  And so this is being shown in the charts like I’ve mentioned, but also now the fundamentals are also reflecting the same information, but I’ve been looking for those bullish moves anyway.  And so, as I’ve mentioned, a 4.8 to 1 trade here on the GBP/NZD, and it’s just over a 2 to 1 trade behind me on the NZ/US; two fantastic trades.  The other pair that I’ve been really dominant in making good money on this week is shorting the CAD/JPY, that’s fallen a tremendous amount as well.

Chapter 8 of my Book has been Released

Elsewhere, the chapter eight of my book has been released this week, that’s called “The Importance of Developing Your Own System”, and in that I talk about how so many people become reliant on robots and EA’s and buying an e-book, etc., and it’s really important to have a strategy that really does suit your personality as a trader, and also the time of day you can trade, and the timeframe charts you can trade.  I’ve mentioned it many times, my personal favorites are the daily charts, the four hourly charts, and then the weekly charts.  I have other clients that love the one minute, five minute, and fifteen minute charts; depends what suits you.

Don’t forget to log-in and attend one of my free webinars that I hold each week, if you’ve not attended one yet.  And also don’t forget there’s my free lot size calculator on my website, if you don’t have that, make sure you jump on and get a copy of the for you MT4 platform.

That’s it for now.  I’m looking for these trades to continue into the rest of the session, so we’re right now in the Asian session, looking for the New Zealand dollar strength to continue into the European session and then possibly into the US session before closing any trades before the end of the week.  So, that’s it for now.  Once again, this is Andrew Mitchem from The Forex Trading Coach, hope you’ve enjoyed this video and podcast, I look forward to talking to you this time next week.

Quick Links


About Andrew
About Paul
Cookie Policy


Free eBook
Free Risk Calculator
Are You New to Trading Forex?
Are You About To Give Up Trading?
30 Minute Forex Trader Update
Online forex video course
One on One Coaching in Person
One on One Coaching – Online

© 2021 The Forex Trading Coach Ltd (NZ FSPR:FSP37396) provides general information and educational courses and materials only. This is not an offer to buy/sell financial products. We do not provide personal advice nor do we consider the needs, objectives or circumstances of any individual. Financial products are complex and all entail risk of loss. Over-the-counter derivative and foreign exchange products are considered speculative because they are highly leveraged and carry risk of loss beyond your initial investment, hence should only be traded with capital you can afford to lose. Please ensure you obtain professional advice to ensure trading or investing in any financial products is suitable for your circumstances, and ensure you obtain, read and understand any applicable offer document.

Latest Podcasts / Videos

#396: How Using Retracements Will Help Your Trading Results

How Using Retracements Will Help Your Trading Results  Podcast: #396: How Using Retracements Will Help Your Trading Results In this video: 00:26 – The biggest difference to my trading success 01:06 – The many benefits of using limit orders...

#395: How to make 2021 an excellent trading year

How to make 2021 an excellent trading year  Podcast: #395: How to make 2021 an excellent trading year In this video: 00:30 – Set your goals for the New Year 01:40 – Trading on the close of a candle 02:22 – Document your trades 02:42 –...

#394: How Was Your Trading During 2020?

How Was Your Trading During 2020?  Podcast: #394: How Was Your Trading During 2020? In this video: 00:26 – What an interesting year! 01:06 - Trade the conditions you get at the time 01:21 – How was your trading during the year? 02:35 – My...

#393: All You Need to Know about Blueberry Markets

All You Need to Know about Blueberry Markets  Podcast: #393: All You Need to Know about Blueberry Markets In this video: 00:00 – I’m joined by Ben Clay at Blueberry Markets 00:45 – Who are the people behind Blueberry Markets? 02:23 – Where...

#392: Why I Trade with Low Risk Per Trade

Why I Trade with Low Risk Per Trade  Podcast: #392: Why I Trade with Low Risk Per Trade In this video: 00:29 – Why do you keep your risk per trade low? 01:03 - 2 things you must control 03:05 – This completely amazes me 04:08 – We also have...