Now is the BEST time in 18 years to trade the Forex market
#470: Now is the BEST time in 18 years to trade the Forex market
In this video:
00:28 – The best time to be trading the Forex market in 18 years
00:56 – I’ve seen all trading conditions in my time as a trader
01:23 – What are your trading options right now?
03:06 – Inflation and interest rates
05:00 – The cost of shipping
06:02 – What are you going to do about it?
06:43 – About to lose your job?
07:10 – Blueberry Markets is my broker of choice
07:35 – My 5 Star rated Forex Coaching Program
Right now is the very best time I’ve ever seen in the last 18 years to start trading the Forex market. Let me explain why right now.
Hey, there, traders. This is Andrew Mitchem here, the owner of the Forex Trading Coach with the video and podcast number 470.
The best time to be trading the Forex market in 18 years
And I want to explain to you why I think after 18 years of trading the Forex market, right now is possibly the best and the most important time of why you should really strongly consider trading. If you’ve not traded yet, think about it seriously, getting into it now. If you have started to trade and it’s just not working, this is also for you because right now is the most important time. Let me explain why.
I’ve seen all trading conditions in my time as a trader
After 18 years I’ve seen all sorts of different things happen and conditions in the market, et cetera. All that has happened, presidents, different things have come and gone, troubles around the world, whatever it might be. COVID, all these things have happened. Okay. But right now, going forward, there looks to be, doesn’t matter where you live in the world, so much uncertainty.
What are your trading options right now?
Now, what options do you have right now if you’re looking for investing or just surviving? And I mean that quite seriously, because give you an example. This morning, I was listening to the radio station. And on there, there were two articles back to back which really made me wake up and open my eyes about what’s happening. And one of them was a local council guy talking about how they had invested their money. One of the local councillors here in New Zealand had invested quite a substantial amount of their cash and surplus funds into an investment firm. JBWere was the one, they mentioned it so I’m going to mention it. And how they had lost 6% in the last year on their funds through this expert investment firm.
An investment firm where they’re talking to them, explaining why that their portfolio gone backwards and all the different things happening in the world. Basically, giving all their excuses. But ultimately, the result is everybody who is a great payer of this particular local council, their funds have gone backwards. You take that and think about you doing the similar thing. You go and put your funds with these experts. And I’m not saying all of them, and I’m not even saying that the one I’ve just mentioned is particularly bad or good. I’m just saying they were the ones mentioned on this particular radio station this morning that I heard. And when you think about that, you have so little control yourself. You’re not really knowing what’s going on. That was the first news story.
Inflation and interest rates
The second story straight after that was another guy coming on, talking about all the doom and gloom that’s happening and coming regarding inflation and the cost of living. Now, again, it doesn’t matter where you live in the world, your price of food, your price of fuel, your price of just goods, commodity services has gone through the roof over the last few years.
And they were talking about the knock-on effect of that. And they were also talking about how to overcome inflation. All these global again, so-called experts who run these things are looking at putting interest rates up, which they’ve already done pretty much, most countries around the world over the last little while, last few months. But are likely to keep doing again. What’s that going to do? It means that people on mortgages, on home loans are going to come off of what has been traditionally some fairly low rates, all of a sudden, going onto massively high rates.
What does that mean for you? Well, it means, of course, your cost of living, your mortgage, your ability just to tread water to survive is going to cost a lot more. Add on top of that, the food, the fuel, the everything else, and you can see how it’s going to escalate. And then what that does is it leads on to your discretionary income. You’re going out to restaurants and cafes and cinemas and buying investment properties, or going on holiday or vacation, buying a car. Whatever it might be, all that becomes less and less ability for you to spend.
Which then of course, means that if you’re in retail or accommodation tourism or any of these knock-on effect businesses, whether you’re making them or selling them, there’s less people coming through the door. Therefore, you as a worker and an employee, are in less demand. And you can just see the whole bubble building here. And again, this is a global issue. This is not just me telling you about what’s happening in New Zealand. This is happening the world over right now.
The cost of shipping
Another example, just from yesterday, I was talking to a guy who imports helicopters here into New Zealand. He said that the costs that he got quoted last week to import a 40 foot container with a helicopter in it from America to New Zealand, from Long Beach, California to Auckland in New Zealand was 52,000 US dollars for one container. Doesn’t matter what’s in it. A 40 foot container, $52,000.
It was horrifically expensive. It was massively slow because everything’s just slowed down. And so, you then look at the cost of importing, or exporting, and shipping around the world or air freight. It’s just got horrific in terms of its cost and its reliability and its speed. All that again, combines to make things more expensive. And the knock-on effect means that you and I have to pay more for things. That is inflation.
What are you going to do about it?
Bring all of that back together. What is it that you are going to do about it? And that’s why I believe that the Forex market and learning how to do it or having a passive income and knowing how to do this for yourself today, right now, at the end of August 2022 is probably in the last 18 years, the most important and the best time right now for you to seriously consider learning how to trade the Forex market.
I’ll leave it with you there because I think that is a pretty hard hitting chain of events that are going on that’s going to affect everybody. It doesn’t matter where you are, what you do, how old you are.
About to lose your job?
Actually age, one more thing. My poor brother-in-law, who’s a great guy over in the UK. 58 years old, highly skilled, incredibly smart and good at what he does has just been made redundant. 58, what are you going to do with a high paying job to try and find another one? Nobody wants a 58 year old. And that again, is happening throughout the world. All these examples that I’m hearing all the time, it just keeps going on and on and on. Do something about it.
Blueberry Markets is my broker of choice
Lastly, if you want to put your funds with someone and start learning how to trade through a broker, have a look at Blueberry Markets. Look at their MT4 or MT5 platform. I prefer their MT5 platform now because so many more markets on there, the indices, cryptos, commodities. Plus the different timeframe charts like three hour, six hour, eight hour, 12 hour charts all readily available.
Have a look at Blueberry Markets. I’ll put a link to them here.
My 5 Star rated Forex Coaching Program
And I’ll also put a link through to my five star rated Forex coaching programme, which has been running since 2009. Clients in 101 countries have been on the programme over the last 13 plus years. You really need to consider it for yourself. I’ll see you this time next week. This is Andrew Mitchem with the Forex Trading Coach. Bye for now.