Trader makes +7.25% gain trading the 15 minute charts
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#456: Trader makes +7.25% gain trading the 15 minute charts
In this video:
00:35 – One of our clients makes +7.25% account gain in the week
01:20 – We only look for a trade at the close of a candle
01:54 – We don’t only trade the longer time frame charts
02:55 – Trade what suits you
05:05 – Take a look at Blueberry Markets
06:11 – Future trading topics
One of our coaching clients made 7.25% account gain last week, trading only the 15 minute timeframe charts. Let me explain about that and more right now.
Hey traders, this is Andrew Mitchem here at The Forex Trading Coach, with video and podcast number 456. Something a little bit different this week, and I mentioned it at the end of last week’s video and podcast, and I’ve had a lot of people saying they’re really wanting to know more about this.
One of our clients makes +7.25% account gain in the week
I talked about a client who just the previous week made 7.25% on his account. On the previous video, I think I was mentioning he made about 8.5%, I think it was, but he actually had a losing day on Friday when I made last week’s weekly video. So for the previous week he ended up, of the five trading days, he lost Friday and made four profitable days Monday through to Thursday, for a total net gain of 7.25% trading with only very tiny risk of a quarter to a half percent risk per trade. And he did that by trading between 45 minutes and one and a half hours per day on only the 15 minute timeframe charts.
We only look for a trade at the close of a candle
And the great thing with the way that we trade is you only look at the candle close. And so you know that if you’re trading for 45 minutes a day, he could have looked at four different timeframe charts, or four different closes. And if he was trading for an hour and a half, he had six closes on the 15 minute timeframe charts to look at. So he did that for the five days for a 7.25% account gain, only on the 15 minute timeframes. And when you think about that, that’s pretty good.
We don’t only trade the longer time frame charts
And a lot of people think that we trade just the longer timeframe charts. And personally, I tend to trade two hours and above, that’s just what suits me. But the great thing is from your point of view, is that our strategy works. And from our client’s point of view, the strategy works. And what that means is you have the ability to trade whatever suits you. Just because I’m now explaining about a number of our clients that are now jumping onto 15 minute timeframe charts, doesn’t mean to say you should go and do that, but only if it suits you. Likewise, if I’m talking about trades on 12 hour charts or daily’s or weekly’s, or even monthly’s, don’t just jump onto those timeframe charts if they don’t really suit you. On those, you’ve got to be prepared for them to be in a little bit longer and just let them do their thing. On a 15 minute timeframe chart, you’re going to be expecting really that you have to dedicate an hour or so per day and sit and watch those closes four times within the hour. But it just shows what can be done.
Trade what suits you
And that’s the important thing, it’s trading what suits you. But also, it’s trading what the market’s giving you. If you want to trade 15 minute timeframe charts, and you say, look, I’m going to dedicate one hour a day to do this, look at four times, don’t feel that you have to take lots and lots of trades just because you’re trading short timeframes and you’re there for that one hour. You’ve got to trade when the setups are there. And that can be shown through in the results that the clients are getting. And with this guy making 7.25% gain in just five days, what he’s doing is he’s actually taking most of his trades which are continuation trades. And that’s the important thing.
If you’re trading shorter timeframe charts, don’t go for these massive reversals, and you’ve had a huge downtrend and you’re suddenly going to take a buy trade. Yes, sometimes they will work, but you’re far better off trading with the trend. That’s why we teach our clients and we post each day the daily analysis for where we see the likely strengths and weaknesses on certain currency pairs. We do exactly the same on the weekly timeframe charts as well, for the longer timeframes. But on a day-by-day basis if you’re seeing, let’s say, the Australian US dollar going up, and it’s been going up on your charts, the strength is with it and the Aussie’s looking strong all around, the US is looking weak, and you see a little reversal trade trying to trade the Aussie US down. It’s far less likely to work, even if it’s a good setup.
What you’re far better off doing is letting the uptrend do its thing. If you’re in it, fine. If you’re not, that’s fine also. But then let it come back, let it retrace, and then look for that bullish opportunity again and trade that continuation pattern. Because that is going to be your higher probability trade, trading with the trend after a pullback. But also, you’ve got so much lower risk, less risk on the trade. The probability of that trade working in your favour is so much higher than taking these really cool, dramatic looking reversals. They do look good, but they’re high risk. So I hope that helps.
Take a look at Blueberry Markets
Now, if you are looking for a broker to go to, I can strongly recommend Blueberry Markets. I’ll put a link to Blueberry underneath this video and post and podcast, whether you’re watching or listening. But just check out Blueberry Markets, go and just check them out. I really encourage you to do that if you’re looking for a good MT4, MT5 broker. The feedback that I constantly get, all the time without fail, is that Blueberry are awesome. Their customer service is amazing. People can’t believe how well that they look after their clients. It just blows me away all the time, which is why I like working with them, because that’s how we like to operate here at The Forex Trading Coach. It’s really important that we suggest people go to like-minded companies and people, because for us, the dedication, the enjoyment, the customer service, the making it work, all those things are highly important to us, and the integrity, et cetera. And that’s exactly what you’ll get from Blueberry. So have a look, check them out if you’re interested in looking for a new broker.
Future trading topics
Any topics that you’d like me to discuss like this on any trading subject topic at all, let me know, send me an email, [email protected]. I’ll see you this time next week. Bye for now.
Episode Title: #456: Trader makes +7.25% gain trading the 15 minute charts