Why Sell a Successful Trading Strategy?
#522: Why Sell a Successful Trading Strategy?
In this video:
00:30 – Why would you sell your trading strategy?
01:10 – How I started
02:25 – Teaching the strategy
03:40 – The number of clients expands
04:10 – The start of the TFTC community of traders
05:28 – Teaching clients for a broker
06:47 – Helping like-minded people worldwide
08:30 – Blueberry Markets
08:45 – Book a call with me and my team – https://theforextradingcoach.com/call
If a trading system is so good, why would the developer of that trading system wish to sell it and share it with other people? Let me answer that question for you and more right now.
Hey there, Forex Traders! Andrew Mitchem here, the owner of the Forex Trading Coach with video and podcast number 522.
Why would you sell your trading strategy?
Now received an email this morning from a trader for John over in the UK. They said, Andrew, I need to ask you this question. It’s the the obvious question to ask and it’s like if you’re so good at trading and if your system is so good.
Why do you need to sell it to people? And it’s quite a, you know, an obvious question. And so what I’d like to do on today’s video and podcast is to give you a bit of detail and background about the Forex Trading Coach and my trading. To help you to understand where we’ve grown over the years, where we are today, and why we do what we do.
How I started
So I’ve been trading for just around 20 years now and back in around 2007 I ended up being the top trader on an auto trade company. Back in the early, early days of trading where you could buy signals off people. And I won the competition, won the global competition. I had a system that worked really well and it topped everybody.
There were hundreds and hundreds of traders even back then. And so back then, people could follow along. Had no idea who you were, but they could follow along and buy off that company. Now, that was okay, but I thought, okay, I’ve come and won this. So what I ended up doing is creating a very basic signal system. Back in the early days, you know, websites were very basic.
There was PayPal and nothing else. And then what I ended up doing is I ended up developing an email each day that went out and it was like, buy here, stop loss, their profit target there. And people would pay a monthly subscription for that. And it went really well.
Teaching the strategy
And I got to a brand end of 2008, early 2009. And then I received an email from one particular subscriber who lives over in Noosa, in Australia. And he said to me, Andrew, I’m really enjoying your signals. They’re doing well. I’m making really good money from it. But more importantly, I’d love you to come and teach me how you do what you do. So rather than just relying on your email each day, I can find out how to do this for myself because ultimately I could get hit by a bus, you know, no more Andrew and this guy went from making a lot of money to suddenly no emails, and that was it. So he wanted to develop that information, that knowledge education for himself, which is fair enough.
So I put together the course into like a word document, took it down the road to the printers and say how you make this into a real nice, colorful page doc in a booklet for me. And that’s what we did. It was really was as as basic as that went across to Australia, took a back up flash drive in case I lost everything and I spent three or four days with this guy.
He’s still a client to this day. And with him and his family teaching him how to trade it was really enjoyable to discuss trading in person with someone. So that was the very first client.
The number of clients expands
I then came back to New Zealand and I sent an email out to other people who were on that subscriber list and saying, Hey, look, we’ve got a really happy person out.
This taught him how to trade. Anybody else interested? So I got a lot of response back and I ended up flying to Malaysia and Sri Lanka and then across to Spain, Valencia, Spain, France and then England and and then back home. And I had a group of people.
The start of the TFTC community of traders
And what it did is it built the very basics and the start of a community. You see, there’s a number of things that are missing when you’re trading. It basically means for most people, you’re sitting there at home, sitting on your laptop or your computer, just you and no mates. It’s quite a lonely business, you know. It really is. And so I like interaction with people. And I found that by having this sort of group of people I’d met in person that was just starting to develop something really quite cool and really exciting.
We could bounce ideas off people. They come and ask me and ask the teacher and ask the developer of the system and strategy. You’ve really got to know you’re trading because you’re getting questions from all over the place, different ideas and things. It helps me from a personal point of view to become an even better trader, even sharper.
And now with the way that things have developed globally with the Forex Trading Coach, you know, we’ve never missed a day of our daily trades in 14 years. We’ve never missed a live webinar. You know, we’re on the Forum site daily, so we’re always there and it’s helped sharpen mine and the other coaches trading even better. Maze’s consistent.
You know, we can’t become not that we are anyway, but you know, we can’t become lazy and go like all the trading today because you got thousands of people all there waiting to see what you’re writing.
Teaching clients for a broker
So that let’s jump back to when I then came back to New Zealand, a broker who’s up in Auckland got to hear about what I was doing through a friend and, and they contacted me and say, Hey, look, I heard you develop this company.
I heard you do poaching. Come and trade. And so come and train some of our biggest account holders because most people are out there losing money. And the broker needed people to be making money because obviously they make more commissions and more fees. And if people are happy and making money, they’re going to add to their account they gonna tell more people, etc..
The common conception is that most people think the brokers want you to lose. A good broker does not want you to lose. A good broker wants you to to be profitable, because then they make more. And so anyway, I did a whole lot of small group tuition for the broker and some of our high net worth clients and so things just developed from there.
So 2009 the Forex Trading Coach started. Fast forward to now 2023. We have our clients in 104 countries, but we’d love doing what we’re doing. Do we need to do this from our own personal financial point of view? Absolutely, no.
Helping like-minded people worldwide
But it has helped develop such an amazing group of like minded people. I’m self-employed. I love people who are out there looking after their own health, their own finances, their own future, not relying on the traditional way of doing things.
Because let’s face it, the traditional way of doing things does not work for most people. So we’re out there looking for like minded people from all around the world. It helps us to develop ideas because you constantly get in questions from different people and you know, you finding about new things and real cool things and developments. And it keeps us fresh and excited and wanting to keep doing this.
So look, John and whoever else who is asking or thinking of the same question. It’s just an enormously satisfying feeling to help people to have a community of people. And let’s face it, who doesn’t like helping people, you know, interested in helping like people who just want something for nothing or lazy people, you know, that’s not me.
I hands up just not interested in that at all. I’m interested in helping people, right? They’re trying to achieve things in their lives, go getters, achievers, and that’s the sort of people who I believe make the best traders. And that’s the kind of people that we have on board with us. And that’s what drives us. That’s what’s gets us out of bed each day helping people to get better for themselves, to grow a better world, for everybody, to increase their finances, you know, to increase their information and their knowledge and their education, all those type of things give us satisfaction that we’re making a difference.
So that’s what we do and that’s why we do it and everything else. You know, it’s just awesome to be part of a group of people, a community.
Elsewhere out there, brokers going a similar type of system and situation with these guys. Blueberry, awesome group of people. I’ve been there and met them. They help people, their services exceptional and they’re out there wanting people to do well as well.
Blueberry markets I’ll put linked to them here. If you’re interested in finding out more about how we can help you, I’m going to put a link here.
Book a call with me and my team – https://theforextradingcoach.com/call
Feel free to book a time to talk to myself or one of my team, completely free of charge and find out if we can help you. I’ll put a link here, so don’t forget to take advantage of that as well.
So this is Andrew Mitchem here at the Forex Trading Coach. I see this time next week. Bye for now!