Look Left, Look Right and then Look at Your Profits
#430: Look Left, Look Right and then Look at Your Profits
In this video:
00:25 – How looking left and right will make you safer
00:58 – Don’t only look to the right
03:23 – Blueberry Markets receive great feedback
04:11 – Client makes +40% in the month by risking just 0.5% per trade
05:31 – Please share this video
When you’re trading, you need to look left, then look right, and then look at your profits. Let’s talk about that more, right now.
Hey there, traders. It is Andrew Mitchem here, the owner of the Forex Trading Coach, with video and podcast number 430.
How looking left and right will make you safer
And I want to talk about looking left, then looking right, and then looking at your profits. What do I mean by that? Well, as a child, we’re always taught by our parents, aren’t we, to look left and then look right before you’re crossing the road or anything like that? And it prevents you from having problems. And in trading it’s exactly the same, yet nobody does it, or very few people do it. Our clients do it because we teach them how to do this. And we talked about this on a correspondence with all our clients just this week, and we had really good feedback. So I wanted to share this whole concept with you.
Don’t only look to the right
And in your trading, most of us look at the right-hand side of the chart, because that’s where you take a new trade from. You’re looking at the price level. You’re looking at the candle pattern, maybe whatever indicator you’re using, but most people look at the right-hand side of the chart. But what a lot of people don’t do is they don’t look then across to the left-hand side of the chart and see what’s already happened, because that can give you an even higher quality trade signal, or it can prevent you from taking a trade that may look okay, but has some obvious previous price action back to the left-hand side, that should make you not take that trade.
Now, when you look back to the left or right, you’re looking at support and resistance levels, looking at swing highs, where’s the price previously bounced at? Have I got enough reason here for my trade to be able to get in a buy trade up to its profit target? Are there any levels back to the left-hand side or ran numbers, previous areas where the price has hit that might actually prevent my price or my trade from getting to its full profit target? Likewise, you can use price action back to the left, to look at swing lows, let’s say, or swing highs, and now we’ve come and bounced at that level and formed our bullish candle, looking for our by trade. So again, you’ve got a reason why your setup’s good. You’ve got a reason why your profit target should be good to get to your profit target, but also you can use that same principle back to the left. Look at previous swing highs and lows and ran numbers to see, have you got any protection for your stop loss?
Because the trade’s not just about seeing the good setup, it’s about saying, well, this may be a good setup, but it could take you out as a stop loss first and then go and hit your profit target. Of course that’s no good. So what is in the favour of this trade in terms of our stop loss being protected, to allow the trade to develop over time, to then get to our profit target. So all these things you can use. So looking left and looking right, is a great habit to help you becoming a good, successful profitable trader, looking left and looking right and forgetting to do that can get you hit by a bus. So make sure you do it.
Look, the reality is in trading, just so many people don’t do it. They clog up their charts with too many lines and indicators and half the people don’t even look at the price. But look left and look right. You look at what’s previously happened and what is happening right now. It will massively help you. Two other things I want to mention.
Blueberry Markets receive great feedback
One about Blueberry Markets. We’ve just continued to get such great feedback about Blueberry Markets. You’d note over the last couple of months, I’ve mentioned them on these videos and podcasts because they are just a really, really good broker. Now you’ve got choice to go to whichever broke you like and do your due diligence. Just really important that you do that. But if you just want the feedback that I’m constantly getting from so many people, right around the world, just consider Blueberry Markets as an option, if you’re looking to set up a new MT4, MT5 account with a different broker, I can highly recommend them. Their customer service is outstanding. Everything about them is very, very high quality. So that’s Blueberry Markets. I’ll put a link to them on this post, that you can go and find out more about them.
Client makes +40% in the month by risking just 0.5% per trade
The last thing is, now I’ve just heard about this an hour before I started making this video and podcast, from a client of ours, who’s just emailed Paul Tillman, who works with me over in the US, and he told Paul that this client has made a 40% account gain in September with risking only half of 1% on his trades. 40, four zero percent gain. And September’s just closed, and it was trading just the 12 hour charts, the daily and the weekly. I don’t have all the details yet, which is why I can’t expand on that. But by this time next week, don’t miss next week’s video and podcast. You’re not going to want to miss this because I’m going to find out the trades that the guy took and how he’s done this, what he’s done, to use what we teach and just on those three timeframes and to get to a 40% account gain in just one month.
So I’ll find out more over the course of the week, and I’ll let you know on the update next week. Like I said, you won’t want to miss it because if you can learn how to do that, you’re sorted with your trading, aren’t you?
So, this is it for the video. Hope you’ve enjoyed it. And don’t forget to look left and right, whether you’re crossing the road or you’re trading, it will help you in both instances. I’ll see you this time next week.
Please share this video
Don’t forget to share this video, like it and send it through to anybody who you think may be interested in trading. I’ll see you this time next week. Bye for now.
Episode Title: #430: Look Left, Look Right and then Look at Your Profits