Making Money from The Daily Chart Trades
#424: Making Money from The Daily Chart Trades
In this video:
00:26 – Lockdowns and how we can trade as normal
01:05 – Follow us trading on the Daily chart trades
01:50 – Posting trades every day of the trading week
03:36 – August D1 trades at +12.1% in 3 weeks
04:20 – Client in Singapore takes 5x H2 chart trades and all 5 hit their profit targets
05:33 – We post MN1, W1, D1 and other time frame chart trades
06:14 – Trading at Blueberry Markets
07:25 – Free access to Echo Trade Copier via Blueberry Markets
I’m going to explain to you how our daily trade suggestions on our membership site are making our clients profitable. Let’s talk about that and more, right now.
Hey traders, Andrew Mitchem here at The Forex Trading Coach with video and podcast number 424.
Lockdowns and how we can trade as normal
Coming to you from yet another lockdown in New Zealand. One of the great things with trading is whatever these governments are doing, clearly not working, trading from home it doesn’t really matter we can just carry on with our lives. It’s a great opportunity if you are stuck at home, obviously Australia’s in lockdown again right now and who knows what’s happening here because I don’t think anybody does, if you ever want to get to a stage where you can forget all that and just enjoy making a really good income from home, Forex is one of those few options that you have.
Follow us trading on the Daily chart trades
So let’s talk about the daily trades now. One of the issues that traders have when they start is they don’t know really what to do. They lack strategy, they lack confidence. The self-doubt. There’s not really a lot of people you can ask when you’re developing a strategy or even following someone else’s strategy. It becomes a problem, because you start doing things wrong, you start adding things or bringing in a bit of a system that you used to do. It just develops into a big mess, really. Self-doubt comes in and you start losing trades and you give up. You go through the whole cycle again. If you’ve been trading for anything length of time you know exactly what I mean.
Posting trades every day of the trading week
One of the things that we offer at The Forex Trading Coach, and have done so since 2010, is every day of the trading week, five days a week, we post specific trades based off the daily timeframe charts. Great thing about the daily timeframe charts is it gives us one, two, three trades a day most days. It also means it doesn’t matter where you live in the world, you can place the trades. It doesn’t matter what timezone, what work commitment, or anything. Whether you’re in lockdown or not in lockdown, you can place these trades. We’ve got clients in 98 countries, active clients in 98 countries, and no one has an issue because of the way that we place the trades using limit orders.
So one of the advantages of that is that you can go to your charts, you can see the trades that we’re placing based on our updates each day on our membership site. Now we talk about the specific pair that we’re trading, the direction that we’re trading, two or three sentences about why we’re taking that trade, plus the exact entry and exit levels. Now, it does a number of things. Obviously if we get that right, all the clients earn money. And that’s great. We’re placing the trades ourselves, and of course we aim to get profitable trades. But the other thing is, and it’s often an overlooked part of it, is that is training your eye to actually see the set up. And it’s in real time, so we’re not hindsight traders, we’re not economists. I’m not telling you what happened yesterday. We’re saying this is what we’re trading today and why and here are the entry and exit levels, which is of course what you learn in the course anyway. So that helps you to develop confidence.
August D1 trades at +12.1% in 3 weeks
To give you an example, if you’d taken the trades that we posted just in August, and here we are today on the 20th of August, just at 1% risk per trade, you’d be up 12.1% for a month. Now think about that. 12.1% for the month in three weeks on a live account that you’ve been trading, and all you’ve done is followed what we’ve done on one timeframe chart. So of course it’s going to give you confidence because you’re making money and that’s great. Your draw downs are absolute minimal, but also you’re learning to see the strategy. You’re learning to see the pattern. You’re learning to understand more about that and have confidence to see the pattern, see the trade, take the trade. And so that develops onto something else.
Client in Singapore takes 5x H2 chart trades and all 5 hit their profit targets
Now a prime example was an email I’ve just printed out, sorry it’s a screenshot, of the webinar that we had yesterday and it also mentions our forum site. And on here, we’ve got a client called Ryo over in Singapore. He said, “Hey Andrew, the Euro/Pound, US/Yen, and Pound/Yen two hour chart trades…” That by the way he posted on the forum site, “…Have hit profit. The Singapore Yen and the Pound/Franc not too far away.” Then he posted another update a little while later and goes, “Pound/Franc also hit the profit target and jackpot. Now all five have hit profit.” So that’s on the two hour charts. Using exactly the same strategy, exactly the same entry and exit criteria, exactly the same pattern, here’s a client taking five two hour chart trades by himself and they all hit profit.
So you can see the advantage of learning the strategy having someone to help you and the confidenc e that comes with that. It just all develops into an overall package that the person gets to understand. And it all comes back to the daily trades. Now of course we post monthly chart trades.
We post MN1, W1, D1 and other time frame chart trades
And by the way we’ve got five trades going behind me here on the monthly charts all in profit right now. We post weekly charts and we post offline charts when we see them happening as well on our membership site and on our forum site. Plus of course we take trades live on our live webinars. And other people, other clients like Ryo here, he’s posting some amazing trades as well by the way, he’s just doing so well. It’s really pleasing to see. But other clients are posting trades in real time when they see them on our forum site. So you put all that together and you’ve got such a massive choice of trades that you’re taking and profits are just incredible. So you can see how that works.
Trading at Blueberry Markets
Now, one other thing to mention… Now of course it’s all well and good having a strategy and knowing how to trade and having profitable trades. But you then need to find yourself a good broker to place your trades with and place your funds with. One of the brokers that I use and recommend are Blueberry Markets in Australia. Been with Blueberry Markets for years now. I speak to Ben Clay who’s one of their head guys probably once a week. I’ve met Dean Hyde over in Sydney back in those days. Remember those days when we were allowed to go on aeroplanes . We certainly can’t here, anyway. Hopefully where you are in the world you’ve actually got a bit of a normal life coming back again. But yeah over in Sydney a few years ago I met Dean. Good guys. He owns the company as well, by the way, which I think is a massive plus. It’s not one of those massive organisations where it’s completely impersonal. It’s completely the opposite; it’s very personal when you’re dealing with Blueberry, and I think that’s important as well. So you’re dealing with real people who understand the market, who own the company and I think that’s a big, big plus for Blueberry Markets.
Free access to Echo Trade Copier via Blueberry Markets
If you want to know more about the offer that Blueberry Markets are offering to give you access to our Echo Trade copier service for free, you’ve got until the 30th of August to jump on board with that offer. And they’ll credit you with the monthly fee for the Echo Trade copier service. I’ll put a link on here on this video and podcast for you to find out more. So once again, this is Andrew Mitchem here at The Forex Trading Coach. Don’t underestimate the power and the value both monetary and emotionally of following someone and doing that on a regular basis to help take your trading to the next level. If you’d like to find out more, have a look on our website theforextradingcoach.com, and we’re here to help. See you next week.
Episode Title: #424: Making Money from The Daily Chart Trades