The Importance of Good Quality Education
In this weekly video:
00:25 – The internet is full of Forex education
01:03 – Not just education but you need “Good Education”
01:55 – A call from a trader in Texas
02:50 – We are real traders not a call centre
04:04 – A trading example from the CAD/JPY D1 chart
05:55 – Learnt more in a 15 minute call than from a paid course
06:30 – We’ve been helping traders for almost 10 years – that’s real proof
Let's explain the importance of getting educated, not only that, well-educated with something that works. Let's talk about that and more right now.
Hey, traders, Andrew Mitchem here from the Forex Trading Coach, with video and podcast number 308.
The internet is full of Forex education
I've got a story to share with you regarding a phone call that I had this morning from a guy in Texas over in America, but more about that shortly. The point that I want to make here is online, you will find forex education everywhere. You'll even find it physically in your own local town or city as well, but like with most things online, there are a few good things, and quite a lot of average, and an enormous amount of rubbish, trash, whichever word you want to use, and that's what the online world is like, and forex education is exactly the same.
Not just education but you need “Good Education”
You see, getting yourself educated is good, but getting good education is what makes the difference. Not just getting a course, and assuming that's going to fix all your forex problems. It's finding the right course, something that suits you. It's finding a group of traders who trade profitably successfully, enjoy what they're doing, happy to share the knowledge, all those kinds of things, and something that works for you, in terms of your available time, all those kinds of things. Really important that you seek good education, something that's proven, so … That applies to anything in life. You could be learning a sport, you could be learning a musical instrument, you could be learning anything. You've got to get yourself not just educated, but good, correct education. This is exactly the same in the Forex market.
A call from a trader in Texas
So back to the phone call that I received from the guy in Texas this morning. He phoned me up and said, “Hey, Andrew, look, I've been with this course over in America. I'm finding I'm not winning, I'm losing money. My risk is really high. They're suggesting I trade 3% risk per trade. I'm trading 15 minute timeframe charts. I can't get hold of anybody, and when I do, they reply by email a week later, different person all the time.” It just sounded like this guy has really fed up. He'd invested considerable amount of money and time into this company, and it just wasn't working for him, but it was more the actual, the whole process, the whole strategy, the followup process, the lack of support. All that was frustrating him, so he searched online, he found me at the top of Google, gave me a call and we had a really good chat about how I trade, and how I can help him progress further with his trading.
We are real traders not a call centre
During that conversation I said, “Well, first of all, you know, we're real traders. We're trading. Here's the chart behind me here. We're trading in real time.” On our webinars, we trade live in real time. On our daily trade suggestions we put out there for clients to copy, and follow, and learn from. I said, “By the way, this week we've suggested five trades, all five have hit their profit targets so far.” We're taking half percent risk, total portrayed with a quarter percent risk at the market order, quarter percent at a retracement order, and again, all these levels are explained and in the course until you get to know how and why to take those trades. We're taking very, very low risk per trade, but we're up 3% just by sort of following the daily trading suggestions just this week. Real simple to do, low stress. For this guy, you know, the course that he was on, they were saying trade 15 minute time frames, and he was sitting there all the time, scared to leave his charts and I said, “Look, you know, you can do something very, very different, low risk, enjoyable, trading just for a few minutes a day.” Of course you can take that information and trade it onto other timeframe charts as well.
A trading example from the CAD/JPY D1 chart
He was really interested, so he said to me, “Hey, Andrew, can you give an example of one of those trades?” I said, “Okay, go and have a look at your charts for yesterday,” which was Thursday the 7th of February, have a look at the Canadian dollar, Japanese yen. We took a sell trade based on Thursday's, sorry, based on Wednesday's candle, and we hit full profit on Thursday. If you look at the daily charts from the 6th of February, at that time when the seventh candle open, we said take a sell trade. Here are the entry and exit levels, and why. He said to me, “Problem here, Andrew. Just got to stop you there.”
I said, “Okay, tell me what the problem is,” and he said, “I can't trade the Canadian dollar and I can't trade the yen.” I said, “Well, why not? You're using the MT4 platform. They have the Canadian yen, why can you not tried it?” He said to me, “Well, I'm not up at the time of day that the Japanese market opens.” He got me really confused there, and I thought, well, that's … That seems really, really odd that here's someone … I'm not knocking the guy himself. I'm knocking the education that he's got. Here's someone who's paid a lot of money and thinks he cannot trade a pair like the Canadian dollar, Japanese yen, because he lives in America, and he's not at his computer when the Japanese market opens. That goes to show you that they might be selling him this system, with doing all these, looking for A to crossover B, and the Mac D to do this, and, first of all, it's not working for him.
But secondly, the lack of just what I would consider a normal forex, common sense, basic background information was just lacking there. Again, not through this guy's fault, really. More to do with his course, and they hadn't even taught him the basics like that. He thinks he just needs to trade the US payers, because he lives in America, and he's awake when it's the US timeframe, the time zone and session. Really bizarre!
Learnt more in a 15 minute call than from a paid course
But he actually, when we finished the conversation, I said, “Look, I can help you. Here's how I can help you. If you want to go further your call, no pressure, you know, up to you.” But he said to me, “Look, Andrew, I've learnt more in 15 minutes on the phone with you for free than I've learned over the last,” however many months he'd been doing this course, paying a lot of money, month after month. It just goes to show you again, come back to that same title of this webinar podcast and video.
We’ve been helping traders for almost 10 years – that’s real proof
Getting education and paying for something, or whether it's free, how do you find it? It's okay, but make sure it's good education, and that's the key. You know, I really honestly believe that. It makes a big, big difference, so if you'd like our help, we're almost up to 10 years of helping people track the forex world. May of this year, May of 2019, we celebrate our 10th birthday since my very first coaching client. We've helped thousands and thousands of clients who have come on board with us in that time, and we've helped literally hundreds of thousands of traders who have just got free information from us, watched videos and podcasts, downloaded software for free. Whichever you want, we're here to help, but if you would like to jump on board with that course, it's almost 10 years old.
You can't get more proof than that of helping people from all backgrounds, all different countries, all time zones, all around the world, different experiences, different levels of computer knowledge, definitely levels of forex knowledge, and 10 years later we're really proud that we're still going strong. We've got the same strategy. That's never changed. How important is that? Just think about that. In 10 years, we've never changed the strategy. Why? Because we don't need to, because it works. I'll leave that with you.
Once again, this is Andrew Mitchem, from The Forex Trading Coach. I'll see you this time next week. Bye for now.