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Daily Currency Movements and Trading Videos

#298: Why you need patience to trade Forex

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Why you need patience to trade Forex

In this weekly video:
00:26 – The key to being a successful trader
01:03 –  The reality of trading
01:38 – Less is more
02:14 – Live webinar with clients
02:43 – Real trading example on the EUR/USD
03:44 – More trades selling the EUR/USD

I'm going to explain why you need to have patience in order to be a successful Forex trader. Let's talk about that a little more right now.

Hey traders, Andrew Mitchem here, the Forex trading coach with video and podcast number 298.

The key to being a successful trader

Now the key to being a successful Forex trader is having patience. Now many people get into trading thinking it's going to be fast, action paced, moving markets all the time, lots of screens with news channels and things coming through and high action pace, traders sat there, can't miss a single bit of news, they can't miss a single pip of movement. They're there taking trades within milliseconds, getting in and out of the market all the time, real fast action paced stuff.

Now that's the perception and the reality is or the reality should be if you are going to become a good trader and to last as a Forex trader.

The reality of trading

The important thing is that you need to do the exact opposite. The reality for me, it couldn't be farther from the truth. I don't have any news channels going, I don't look at any news feeds. I'm looking at the close of a candle and I'm displaying patience. You don't need to be sitting at your charts all day long, all day and night, in order to become a good trader.

Less is more

Think of the phrase ‘less is more'. It applies to trading absolutely perfectly. Why would you want to make, let's say 2% on your account in a week and you've taken 50 trades as opposed to maybe making 2% on your account in the week and you've maybe taken 5 trades? Which is going to be more enjoyable? Which is actually making you money? Which is more long term beneficial? Which is actually putting money into your account rather than your broker's account? Patience is the absolute key.

Live webinar with clients

Now just last night I held a live webinar with my clients and a very successful client typed in on the chat that we had saying, “Hey Andrew, I'm taking trades only on the currency pairs that have a certain direction showing on the monthly chart and that same direction showing on the weekly chart, and then I'm taking trades only on that pair in that direction for that week's worth of trading.”

I'll give you a great example, so today's Friday the 9th of November and we're just about getting close to the Thursday's daily handle closing at 5:00 PM New York time.

Real trading example on the EUR/USD

Now I'm just about to take a sell trade in and suggest to my clients we look at a sell trade on the daily chart on the Euro/US dollar. Now at the beginning of the month, beginning of November, I took a specific monthly chart Euro/US dollar sell trade.

On the weekly chart, I'm also looking for sell trades, and then today, being the last day of the week, so for the first four days of this week, there have been no suitable set ups on the Euro/US dollar on the daily charts, but today I'm going to take one very shortly. We have a specific way of entering and exiting, etc., but I'm takin a sell trade on the daily chart that happens to be in the monthly and the weekly direction.

When the daily is lining up and I've had a pull back and I've had some indecision, now I'm getting a confirmation candle, I'm going to be taking a sell trade.

More trades selling the EUR/USD

Now just on that webinar yesterday that I talked about, I also took a sell trade on the one hour chart also on the Euro/US dollar because I've got the monthly, I've got the weekly, I had the daily, and then on the one hour chart, I had a perfect sell trade and it made full profit.

The patience is the key. Don't go forcing trades. You don't have to have them all lining up, that's not part of this discussion, but it's to show you that the patience and the A grade high probability trade set ups are really what you should be waiting for. Like I said, don't need to be making 2% with 50 trades if you can make 2% with 5 trades or 1 or 2 trades. It's all about patience, waiting for the set ups to show you those A grade set ups. When you see them, then you take them with full confidence.

I hope that helps. This is Andrew Mitchem, the Forex trading coach. I'll see you this time next week.

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#297: Confusion over which time frame you should trade?

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Confusion over which time frame you should trade?

In this weekly video:
00:27 – Which time frame chart should I look at?
01:11 –  A few options for you
02:02 – Only trade on the close of the candle
02:58 – Dedicate 1 hour a day to trade the shorter time frame charts
03:31 – I trade for 1 hour a day
04:44 – Different charts showing different things
06:10 – Complete confusion

Do you get confused trying to understand which timeframe Forex chart you should be looking at and you should be trading. If that's you, listen up, I've got some really important information.

Hey Forex traders, Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 297.

Now a lot of people come to me and they say, “Hey, Andrew, I'm confused with which time frame chart I should be looking at.

Which time frame chart should I look at?

Which is the best time frame? Should I be looking at 15 minute charts, should I be looking at hourly charts? You also talk about trading daily charts, Andrew, so which is the best?” Now the answer is there is no one right or wrong time frame chart to trade. And it really depends on a number of things but also it depends largely from your point of view, the things you can control is what type of trader are you? And how long, how much time per day or per week do you really want to start or sit looking at charts on your screen? So you've got a few options. You could be the sort of trader that likes to sit and watch charts and you might like that price action, seeing price moving around quite a lot.

Which time frame chart should I look at?

If that's you, then you should definitely be trading for shorter time frame charts, probably one hour charts and below, so 30 minute, 15, 5 minute, that type of thing.

However, if you are the sort of trader who likes to trade less and you've got other things to do, you've got jobs, you've got family, you've got other activities that you like to do, and you just want to say, I want to trade for a few minutes once a day or like that, then you should definitely be looking at the longer time frame charts. Now things like four hour charts possibly might be the shortest that you go to and you might like the longer time frames charts like the daily charts, weekly charts and even the monthly charts. And the great thing is with the way that I trade is, I only look at taking a new trade or potential new trade at the close of any candle.

Only trade on the close of the candle

So we are now into November, now we've just taken six trades based on the close of the October charts. Because they are monthly chart trades, they have some very big rewards to risk ratios, up around four to one. Now I've just placed those trades this week. I put six of them on and they've got half of one percent risk each. Now if they, if three of them make a profit and three lose, I'm potentially going to make some very nice profits but it took me just ten minutes to scan through the monthly charts at the close of October and into the first day of November and see the trades that were setting up and taking the trades.

So it all depends when you like to trade, how often you like to trade, that type of thing. The other thing you can do is you like the shorter timeframe charts. There's nothing wrong with those time frame charts.

Dedicate 1 hour a day to trade the shorter time frame charts

What you could do is say, I'm just going to pick one hour a day that I focus on trading, say five or fifteen minute time frame charts, just because you like the shorter time frame charts mean to say you are completely glued to your screen, however the danger is a lot of people either become too reactive with their emotions as in like they force themselves to see a trade because they're trading five minute charts, let's say or they just sit at the computer for hour upon hour upon hour. That for me personally, I trade no more than one hour a day. That's all it takes.

I trade for 1 hour a day

Now yes, I've got years of experience and I know what I am looking for but I look at the close of the daily chart at 5 pm New York time and I look at daily charts at that same time, I can also scan through, I've got some great software on MT4 that allows us, and that's myself and my clients to trade twelve hour charts, eight hours and six hours and I also look at the standard four hour chart at that time. And scan through all those charts in no more than some 10 to 15 minutes.

And then from my point of view, I can look say four hours later or six hours later at the close of the four or six hour chart and then at 5 am New York time, I can look again at the twelve hour, the six hour, the four hour and I also look at the one hour time frame at that time of day because it's into the European session by then and there is more activity than the 5 pm close of the day chart which is started almost into the Asian session when things are generally a bit quieter and spreads are bigger. I don't want to be trading things on one hour charts at that time of day. But then it's into the European session, I'm absolutely I'm looking for one hour chart trades if they show.

So that's how to do it but the actual which charts you should trade because a lot of people get confused with saying, “Hey, look, I want to trade a one hour chart and this particular currency is looking really overbought and I go on to a daily chart and it's looking oversold.

Different charts showing different things

And I'm confused and which should I look at?” The important thing is from the way that I look at it and the way that I have always traded, is you see the trade based on the time frame chart that you are looking at. So let's say you saw a good looking setup on a one hour chart, trade that particular trade setup, look for it's stop loss and its profit target, et cetera, based on what you see on that one hour chart.

Now don't go and take the trade and then go down to a five minute chart and go, it looks like it is about to reverse on me and I'm going to close the trade, because that's what so many people do. And for me it a case of if you are taking the trade based on a one hour chart trade, put your exit levels in there, your safety levels in there and then manage the trade if you wish to manage it. Some people just put a stop on, profit target on, you know your risk, walk away, leave it. But if you do like to manage your trade a little bit more, base it on the decisions you see on that one hour chart at that time. So like an hour later, is that trade still going well, yes or no? Is it looking like it's reversing on me and it's not quite going to hit my profit target, yes or no? Make your decisions based on that one hour chart trade of what you see at that time. It's really important because otherwise you would just have complete confusion because naturally like a monthly chart's going to tell you something different to a daily chart or a five minute chart. It just is.

Complete confusion

So base your decisions exactly like I based my six trading decisions on the close of the October monthly candles based on the the monthly chart.

So I'm basing it on the monthly chart and I'm accepting that some of those trades may be open in the market for several months because they're based on that longer time frame chart. No different to a one hour chart, I accept that the trade may be open for several bars or several candles. It's just the difference is the actual time frame between several months and several hours. So it all depends on what you see on that time frame at that time.

So that's the danger when you work from home and you record videos at home and your kids are wanting to come home from school and call you right at the time you make videos, the phone rings. So sorry about that. I'm going to end this video now and see what my kids are up to so thanks again. I'll see you this time next week. Bye for now.

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#296: Having no strategy is a recipe for disaster

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Having no strategy is a recipe for disaster

In this weekly video:
00:25 – Why people trading without a strategy is a disaster ready to happen
01:30 –  When you learn how to drive a car you get tuition
02:25 – You’ll end up crashing
03:00 – Understand the market first

I'm going to explain why trading the Forex market without a proven strategy really is a recipe for disaster, so let's get into that right now.

Hey, traders. Andrew Mitchem here from The Forex Trading Coach. We're video and podcast number 296.

Going to explain to you why so many people get into trading without a proven strategy, and why that almost always is a recipe for disaster.

Why people trading without a strategy is a disaster ready to happen

Why talking about this subject? Well, it comes about because the last week, I've held two live, free to the public webinars with my colleague Paul Tillman, who's based over in the US. On those webinars, we asked people to explain to us what is the biggest issues that's holding you back as a Forex trader? What's your number one problem?

While people had things like money management, a lack of time, and the psychology behind trading, not having confidence in their system, the whole lot really came back to the biggest problem was people don't have a strategy. They don't know what they're doing. They lack knowledge, and therefore when you think about it, no wonder the stats say somewhere between 90-95% of all Forex traders lose money. It's quite scary, really, because people enter into this without really knowing what they're doing. It's not good.

When you learn how to drive a car you get tuition

Let's try and change that. Think of it this way: if you went to drive a car, you'd want to know what you're doing. You'd want to know some rules, you'd have some knowledge about the vehicle, some rules about the road, how the vehicle worked, what you need to do, how you start it, how you drive it, how you accelerate, slow down, corner, reverse, all those type of obvious things as car drivers and vehicle drivers, we fully understand.

Think about to when you started to learn how to drive, how scary that was. But of course, probably what you did is you got some help, you got some tuition. Whether it was a professional driving company or friends or family, someone taught you how to drive. What to do, how to get into gear, how to accelerate, how to put fuel in the vehicle. All those type of things that you just normally take for granted.

You’ll end up crashing

Trading's exactly the same. When you don't know how to drive, you'll end up crashing. When you don't know how to trade, you'll end up crashing. They both hurt. One hurts physically because you're getting smashed up. The other hurts financially and emotionally because you're getting smashed up. It's exactly the same, so just think about it in that way. Go back to thinking when you first started driving. If you've got kids and they're old enough, think about how they're driving and how scary it is sat next to them, because really, they don't know what they're doing. But you're trying to help them along, and trading is exactly the same thing.

Understand the market first

What I really, strongly urge you to do is when you want to get into trading, make sure you understand the market first. Make sure you understand the strategy, make sure you understand what works for you. Don't just jump in and throw thousands of dollars into a trading account and then blame everybody, blame the market, blame the broker, blame everybody else apart from yourself. Because the problem is unless you've sought help and support from a proven strategy, a proven mentor, a proven system, then the disasters are likely to happen.

Think about it this way: when it comes back to cars again, if you know how to trade, you can then drive any car you like, because you've made enough money from your trading to be able to do that, and to put plenty of fuel in it. Off you go to have fun. A lot of it comes back to taking it steady, taking it very slowly to start with, understanding what you're doing. If you get all the foundations right, like with anything, if you learn how to do the foundations of driving, then you have years of trouble-free driving and lots of enjoyment. No different to trading.

I'll leave you with that. If you need any help with your trading, you know where to find us. This Andrew Mitchem from The Forex Trading Coach.

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#295: Can you really make money with a small Forex account? (PART 2)

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Can you really make money with a small Forex account? (PART 2)

In this weekly video:
00:35 – Your account size does not matter
01:22 –  Do not count success in pips
02:52 – High Reward:Risk trades
03:46 – Yes, you can trade a higher time frame chart
05:07 – What type of trader are you?
06:05 – You can make money with a small FX account
07:15 – Listen to my interview with Imre

Can you really make money with a small Forex trading account? This is part two of that subject. Let's get into it right now.

Hey, traders, Andrew Mitchem here with video and podcast number 295, and this is following on from last week's video and podcast, which was about can you really make money with a small Forex account. That was part one. Today, this is part two.

So, following on from last week's video, the main thing from that that you would have gained from that information is it doesn't matter really what the size of your account is.

Your account size does not matter

You have to learn how to be profitable. And that really doesn't matter whether your account is $100 or it's a million dollars. If you can't be profitable, and you don't have a strategy, you don't have a system, you're not consistent, you're not disciplined, it really doesn't matter what the size of your account.

And on last week's video and podcast, I gave some examples about how you can grow the size of your account from other sources of income, from selling signals, from trading from friends and family possibly, but there are other ways you can increase the size of your trading account right now, and of course, the best way is to make gains on your account. But if you're not profitable, the rest of it doesn't matter.

Do not count success in pips

So what can you do to be profitable? Well, one of the things that I find that so many people still fail to understand is they count their success or their failure in the number of pips they make. Now, just yesterday I held a one-and-a-half hour live webinar, free to the public webinar. Never once did I mention how many pips I've made or have lost. Doesn't matter, completely irrelevant. The only time I use pips is when I'm looking at taking a new trade and I'm calculating my position size needed, and that's according to the stop loss and pips that I'm taking on a trade, and that's according to the risk I want to take, and it's according to the currency pound trading.

So, yes I use pips in terms of I'm risking X number of pips on a trade, but don't forget a stop loss should never have a fixed number of pips. Just because I'm trading the British pound U.S. dollar on a one-hour chart doesn't mean to say I only use 20 pips as a stop, let's say. It doesn't matter. The stop loss needs to be in the place it needs to be for the protection of that individual trade, regardless of its currency pair, regardless of the time frame that you're trading because the market moves in different, in different amounts.

So what might be good last week on a trade on a one-hour chart may be very different from the market conditions right today. So yes, I need to know how many pips my stop loss is, but it doesn't mean to say, let's say it was 20 pips. Doesn't mean to say, and the trade goes wrong it doesn't mean to say, “Oh, I've just lost 20 pips.” Doesn't matter. I'm losing X percent of my account.

High Reward:Risk trades

But also you can use that to your advantage because of course we want high reward-to-risk trades. So let's say that your profit target just happened to be 60 pips, for easier calculation, 20 pip stop loss, 60 pip profit target. That gives you a three-to-one reward-to-risk trade.

If it hits the profit, I don't make 60 pips. It doesn't matter to me that I've made 60 pips. What it does matter to me is that I made a three-to-one reward-to-risk trade. For these numbers, let's say I risked one percent on that trade. The trade goes wrong, I lose one percent. Because it's made a three-to-one reward-to-risk trade, and it hits the profit target, I've now made a three percent gain.

I actually use a half percent rule, but that's what suits me. So half percent risk on the trade means I make a one-and-a-half percent gain on my account. So it's really important that you forget that actually counting your success and failure in pips have high reward-to-risk trades.

Yes, you can trade a higher time frame chart

Can I trade a bigger timeframe chart with a small account? Most people think they cannot, but of course you can. It doesn't matter. Your stop loss on a daily chart might need to be 80 pips, it might need to be 135 pips. It doesn't matter because it all comes down to having the correct position size for that individual trade. You're still risking the same amount, whether it be that one-hour timeframe chart with a 20 pip stop loss or a daily chart with an 80-pip stop loss.

The only thing that changes is your position size, your risk is still the same. Let's say that you have an 80 pip stop loss on your daily chart, and you had a 240 pip profit target, it's still a three-to-one reward-to-risk trade, same amount of risk, same amount of reward. So therefore you can trade longer time frame charts. Don't get caught into thinking that just because your account might be small that you therefore can only trade 15-minute time frames or 5-minute charts.

Forget that. You can trade any time frame chart regardless of your account size. You just need to adjust the position size. And if your account is really small, then go to nanolots instead of microlots, and you can then trade accurately again.

So any timeframe chart, I personally prefer the higher timeframe charts, any currency pair, any direction.

What type of trader are you?

What type of trader do you want to be? Do you want to take continuation trades or reversal trades? I personally take both. Time frame charts, look at the higher time frame charts.

So all those type of things can really help you. Now just because your account is small doesn't mean to say that you cannot trade exactly the same as someone with a 10,000 account or a 100,000 account because treat it like it's real. Don't go, “Oh, my account's just $500; therefore, it doesn't matter if I lose.” Or, “I'm gonna just leave the trade open over the weekend, and I, if it loses, who cares? It's just $500.” Do not trade that way.

Every trade should be there with your checklist. Has it met all these criteria? Yes or no? If it has, great. Take the trade. Manage the trade, or put your stop loss in place to protect your position.

You can make money with a small FX account

So you have to treat your account real regardless of the size of the account is small or large. It's very important that you do that.

So that's pretty much covered the things that you need to know.

Can you make money as a small-time Forex trader? Absolutely you can. Look at how much you're making as a percentage gain. How much am I risking, how much am I making? Because if you make, let's say, a 20% gain in six months on your $1,000 account, don't just look at that and go, “That's just 200 bucks. It's pointless.” Look at that as a 20% gain in six months. How incredible is that? That's a massive, massive gain.

So think of it in terms of a bigger picture. Think of it in terms of global scale. Or, go to your bank and find out how much they're gonna pay you in six months for a term deposit. It's probably one percent, you know. You've just made 20%. Think of it that way. That's how you make money as a small-time trader because you have to learn how to trade properly first.

Listen to my interview with Imre

So I hope that helps. Now one thing that I'd like you also to do before you finish is have a look at my home page. There's an interview there with a client of mine from Toronto, Canada, called Imre Gams. It's an amazing interview from someone who started in the corporate world who gave up the rat race to learn to trade Forex and is now trading full time.

I really urge you to spend 30 minutes, watch through that video. It is fantastic. It is on my home page. I also put a link to it below this video and podcast.

So once again, this is Andrew Mitchem from the Forex Trading Coach. I'll see you this time next week. Bye for now.

Click here to watch Imre's Testimonial

Click here to visit my website

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#294: Can you really make money with a small Forex account? (PART 1)

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Can you really make money with a small Forex account? (PART 1)

In this weekly video:
00:23 – Trading with a small Forex account
01:06 –  Can I make money successfully?
01:30 – Why do so many people lose money?
02:30 – Keeping it simple is usually the best way to trade
03:18 – Learn how to trade first
04:35 – The size of your trading account right now is irrelevant
05:10 – Invest in yourself
05:32 – Excellent trades taken live for good account gain
07:34 – Next week’s video and how you can profit from the Forex market

Can you really make money with a small Forex account? Let's talk about that and more, right now.

Hi, traders. Andrew Mitchem here, the owner of The Forex Trading Coach, with video and podcast number 294.

I want to talk all about trading on a small Forex account, and can you make it as a small-time Forex trader?

Trading with a small Forex account

Now, I made a video along a similar subject line around two years ago, and it's had an enormous amount of hits on YouTube. It's had about 108,000 views, and lots and lots of comments, so I thought what I'd do is I'd split that subject up into more detail and cover it over this video and podcast, and also next week's video and podcast. Why? Well, it's obviously a very important subject, with so many people wanting to find out more about it, but it's also quite a large subject, so probably more than just one episode.

So let's start at the very beginning. With a small account, people want to know, can I make money successfully? Now, the answer is yes. The problem is, most people don't know how to do that.

Can I make money successfully?

And I say the answer is yes, and I'm saying that with confidence due to my experience. I've been trading Forex for 15 years full-time, been teaching for almost 10 years. But the problem is, is as you know, and as I've repeated many times, the stats out there tell you somewhere between 90-95% of all Forex traders lose money, and that's probably absolutely true.

Why do so many people lose money?

Now, there's a huge number of reasons for that and we'll cover the reasons now, and then on the next episode we'll cover how you can overcome those.

But some of the reasons, and in no particular order, would be, really, a lack of strategy, a lack of understanding of the market, a lack of understanding of good money management, a lack of discipline as a person, a lack of understanding of what type of trader you are or wish to be. Are you a technical trader, or a fundamental trader, or a bit of both? What timeframe charts do you like? Where are you going to put your stop loss? Where's your profit target? What type of trades are you taking? Are you going to take reversal trades, continuation? Are you using indicators? Are you using no indicators? Are you using just price action? Are you going to trade just before the news? Just after the news? What is it that you're going to do?

The problem is, is that unfortunately, most people don't know their own answers to that. I can tell you, in all honesty, with many years of practical experience, keeping it simple, like the KISS approach, is generally the best one. So you don't need to have lots and lots of strategies.

Keeping it simple is usually the best way to trade

You don't need to have lots and lots of indicators and lines all over your charts. Now, some people say to me, “Hey, Andrew, why are you saying that when your charts behind here look really complicated?” Well, the fact is that they're not. I have some clever software that alerts me, alerts my eye to certain candle shapes that I'm looking at, and then I mostly use horizontal support resistance lines, pivot points, and then I've got a couple of other indicators that come lower down in my priority, to add some confirmation. So you don't need to clutter your charts, and that's what works for me and works for my clients.

So coming back to the reality of it, can you make money? Well, yes, you can, but the important thing is, is that for right now, as a small-time Forex trader, it's important for you to learn how to trade.

Learn how to trade first

You see, without that, the size of your account and how much you're going to make, and can you give up your job, and can you have massive passive income and retire, and all that type of stuff, really, quite honestly, does not matter, because without understanding how to trade and how to make money as a small-time Forex trader, the rest of it's irrelevant.

Now, there's lots of ways you can grow your account. There's many ways. You can add funds to your account from your own income or your own source of income, whether it be selling property, whatever it might be, but you can add and grow your account. You can make money from your trading and grow your account that way. You can get outside sources, such as you can sell signals. You could trade for other people who are small-time, family people, or friends, et cetera, and gain a commission that way. So there's lots of ways that you can grow your own account, but it still comes back to the fact you need to know how to trade, because for some people, $10,000 might be an enormous amount of money. For other people, $10,000 might be just play money. So the actual size of your account right now is almost quite irrelevant.

The size of your trading account right now is irrelevant

I get people coming to me, saying, “Hey, Andrew. Look, I can't really afford to join your course because my account's only $1,000 or $500, yet your course is $2,000. It's just, I can't afford it. I can't justify it.” My answer is, “Well, that's your call. That's your opinion.” But the thing is, is that how long are you going to go on trading that thousand or $500 account, losing money and then open another thousand or $500 account, and then another one, and then get frustrated, then give up? Or are you, really when you think about it, best off to say, “Well, I'm going to invest in me.

Invest in yourself

I'm going to invest in my education, and my knowledge, and my time, with the help of someone, and actually make sure that I can learn how to trade that thousand-dollar account because that's the most important thing, learning how to trade”? It comes back to that so many times.

I'll give you some examples. I held a live webinar, just last night, for my clients in the European session. I took three trades, live on that session, two on the one-hour charts, one on the 15-minute charts.

Excellent trades taken live for good account gain

Two of the trades hit profit and one got stopped out, and so with those three trades combined, with the two wins and the one loss, with 0.5% risk per trade, I and people who copied me made a 1.4% gain, just from those three quick trades on a live webinar. 1.4%. That's pretty good when you consider most interest rates in savings around the world, on most standard banks accounts, are probably somewhere between about, probably less than one and maybe three or four percent, tops, depending on where you go round the world. We just made 1.4% on three simple trades last night.

Now, on that session also, I had two amazing bits of feedback from clients. A guy called Zhasee, he's over in the Middle East, and he made a 6.9:one reward to risk trade on the Euro/US dollar, and that meant he had a 3.45% account gain, just from that one trade. We also had a typed-in comment from a guy called Colin, not actually sure where Colin's from without looking it up, but Colin made a 7.7:1 reward to risk trade on the British pound/Canadian dollar four-hour chart. Now, that ended up being a 3.85% account gain with 0.5% risk. So you've got one guy making 3.45% and the other making 3.85, just on one trade each, with only minimal risk, only half of 1%. You might want to go, “Well, Andrew, that's too small for me. I might want to risk 1%.” Well, therefore, the guys just made 6.9% and 7.7% on just a trade each. They're not going to be doing that on every single trade, of course they're not, but it just shows what can be achieved.

So, look, that's the first video around the subject, more about the general information.

Next week’s video and how you can profit from the Forex market

On next week's video and podcast I'm going to get into more detail about how you can profit from the Forex market as a small-time Forex trader, with some really good, real-life, practical examples to share with you. So look out for that, this time next week.

This is Andrew Mitchem, The Forex Trading Coach. I'll see you on that video next week. Have a great weekend. See you then, bye.

Click here to register for the Live Forex Webinar

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#293: Would you like to turn your trading around?

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Would you like to turn your trading around?

In this weekly video:
00:24 – How can we help you with your trading
01:15 – 2 live webinars for you to attend and learn from
02:16 – A discounted joining link after the webinar
02:34 – 2 lucky attendees will be win a free place on our course
03:33 – Valuable trading information for you – register using the link on this page

Why is your training not going so well, and how can I help turn that around for you? Let's talk about that and more right now.

Hey, traders. Andrew Mitchem here, the owner of The Forex Trading Coach video and podcast number 293.

Now, I want to talk all about why your trading is not going well. How can we help you with that? Also, at the end of this video and podcast.

How can we help you with your trading

I'm going to give you two very exciting bonuses, but more about that shortly. With trading, you're all here to make money, yep? That's why we're trading. We're trying to be profitable as Forex traders. Now, you know the stats. You see them all over the place. Some 90% to 95% of all Forex traders supposedly don't make money, and you've got to ask yourself, “Why is that?” What is it that you're doing differently, or more importantly, the 10%, 5% to 10% who are making money, what are we doing differently? And, how can you gain some of that knowledge so that you can join the 5% to 10% who are making money?

So to help you with that, I'm going to be holding two webinars, two live webinars, with Paul Tillman, who works with me. He's over in North Carolina in America.

2 live webinars for you to attend and learn from

We're going to be holding two webinar sessions together with myself and Paul on that webinar, on those webinars, and they're going to be on the 17th and the 25th of October. Now, I'm going to put a registration link to the page below this video, and on that I'm going to ask you one very simple question: What is the main thing that's preventing you from being a profitable trader? What's your biggest problem when it comes to trading? On that session, we're going to be answering those questions live to personally help you overcome those issues. So, it's really important that you try to get onto one of those sessions. At least register, so if you cannot attend live you get to watch the recording, and we'll answer those questions personally for you to help you with your trading.

Now, I mentioned earlier there's two bonuses. The first bonus is for everybody who attends the webinar or watches the recording, so basically everybody who registers.

A discounted joining link after the webinar

 We're going to give you a time-limited offer to join us at The Forex Trading Coach for a discounted fee. That's the first thing. The second thing is, which is really exciting and I've never, ever done this in almost 10 years of coaching, is on each of those two sessions.

2 lucky attendees will be win a free place on our course

I'm going to be giving one lucky person access for our full course completely free. It's going to be drawn live on the session, so if you're live on one of those two webinars, each of the webinars, so there's two free courses, one on each, completely and utterly no charge, free of charge, for you to get onto our five-star rated coaching course.

We're going to be drawing that live on the session at the end of each of those two sessions. This is something, like I mentioned, it's never been done before. It's two and a half thousand U.S. dollars' worth of value, which is our normal full joining fee. Completely for free for two lucky people. Make sure you register for one of those webinars. Make sure that you send us your question, the biggest thing that's holding you back from being profitable, and make sure you get on there live. So, look, these are going to be great sessions. They're going to be just myself and Paul. We're going to have our charts on screen.

Valuable trading information for you – register using the link on this page

We're going to be sharing our knowledge and our information, completely free of charge for you to help you become profitable and a better trader.

So, don't forget to register using the link, which will be below this video, and I look forward to seeing you on one of those two live sessions.

Click here to register for the Live Forex Webinar

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